High Obesity Prevalence Linked to Rising Individual Socioeconomic Status Set to Drive Overweight Treatment Market: Persistence Market Research

Published On : May 11, 2022

The overweight treatment market is beginning to take hold across the globe with rising number of investments toward various treatment options. According to Persistence Market Research’s latest industry analysis, the global overweight treatment market is valued at around US$ 35.2 Bn, and is expected to exhibit a high CAGR of 7.9% over the forecast period (2022-2032).

Weight management methods and treatments are projected to become more popular as out-of-pocket healthcare costs rise in both, emerging and established economies. Per capita healthcare spending is on the rise, which is predicted to fuel the demand for high-quality patient care treatment alternatives. Developing economies such as Brazil, India, and Russia are expected to contribute significantly to the anti-obesity drug development industry.

It has been inferred through various studies that food consumption is directly proportional to the socio-economic status of individuals. The worldwide shift from a predominantly plant-based diet to one rich in meat and processed foods is thought to be a factor in rising obesity rates. Studies have proved that people with better socioeconomic status are more likely to be obese as they have the adequate resources to be spent on food consumption.

Affordability is a major concern for a huge chunk of the population due to the absence of health insurance and government support policies that cover obesity treatment in developing countries. A major barrier limiting the obesity management industry is the lack of social health insurance and the exclusionary supply of private health insurance plans. Big players can offer certain insurance policies that will cover a big chunk of expenses, and this will also help in attracting more patients.

Expansion of the overweight treatment market is reliant upon strategic acquisitions and merger activities between market competitors, higher preference for target GLP-1 molecules while developing drug therapies, adoption of telehealth for obesity care, and the emergence of targeted and combination treatment options.

Key Takeaways from Market Study

  • By treatment, supplements held 89.5% market value share in 2021, and are expected to display a CAGR of 8.1% over the forecast period.
  • By distribution channel, institutional sales are gaining higher traction for overweight treatment, and held a market value share of 58.2% in 2021.
  • North America is slated to be the leading regional market for overweight treatment with a projected value share of around 35.2%.

“High incidence of morbid obesity and rising efforts to mitigate indications associated with overweight are driving sales in the overweight treatment market,” says an analyst of Persistence Market Research.

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Market Competition

Acquisitions, expansion activities, fast-track of FDA approvals, and new product launches are key strategies being adopted by market players to increase their consumer base across geographies and establish a strong market foothold.

  • In June 2021, the US Food and Drug Administration (FDA) approved Wegovy (semaglutide 2.4mg injection), a Novo Nordisk product for the purpose of chronic weight management.
  • Apollo Endosurgery received FDA approval for its device Orbera(R) Intragastric Balloon, beneficial for patients with Nonalcoholic fatty liver disease, in March 2021.
  • In March 2020, VIVUS launched different telemedicine and remote monitoring modules for efficient patient care for health conditions such as obesity.

What Does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the overweight treatment market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.

The research study is based on treatment (drug treatment [bupropion and naltrexone, orlistat, phentermine and topiramate, liraglutide, and others], supplements, medical devices/implants [gastric balloons, gastric bands and stapling devices]) and distribution channel (institutional sales [hospitals, speciality clinics, ambulatory surgical centers], retail sales [retail pharmacies, drug stores, supermarkets/hypermarkets, and health & beauty stores], and online sales), across seven key regions of the world.

For additional insights on how growth of the overweight treatment market will unfold over the decade, write to the analyst at media@persistencemarketresearch.com

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