The global obesity-diabetes drugs market is expected to grow moderately due to the increasing number of obese and diabetic patients, particularly in developing countries with rising populations and limited physical activity. The focus on developing new drugs, raising disease awareness, and improving healthcare infrastructure are key drivers. According to the market study, North America currently holds the largest market share due to its high prevalence of obesity
NEWARK, Del., June 5, 2024 /PRNewswire/ -- As per Future Market Insights' latest industry analysis, the global obesity-diabetes drugs market was valued at around USD 54,452.0 million in 2023 and is anticipated to exhibit moderate market growth with CAGR of 5.8% over the forecast period. The sales of such drugs are likely to attain a valuation of USD 97,567.4 million by 2034.
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Therapeutic drugs have a remarkable role in the effective management of obesity-diabetes. It aids obesity-diabetic patients in controlling blood sugar levels and preventing further complications in diseased patients. The prevailing cases of obesity-diabetes due to the growing number of population following sedentary lifestyle with their limited focus towards performing any physical activity majorly contributes to the growth of the segment. The inherited genetic complexities faced by the varied population of the emerging countries further anticipates the market growth.
The improved focus of pharmaceutical manufacturers towards investment in development of new drugs for the treatment of the obesity related diabetes to support the demand of the drugs. Strategic initiatives in collaboration with hospitals and government agencies for raising awareness of the disease augments will also aid the growth of the market in the near future. The growing focus of government authorities of developing regions on improving healthcare infrastructure in their countries for improving healthcare facilities and services is further anticipating the market growth.
Key Takeaways from the Market Study
- By therapy, the drug therapy to hold the dominant share of 55.9% in 2024 in the market. The growth of the segment is majorly due to its easy availability and affordability among common population.
- By route of administration, oral route of administration segment to account for a major share of 54.6% in the market in 2024. This is due to its convenience in consumption. In addition, its safety and efficacy profile furthers augments its market growth.
- By distribution channels, institutional segment which includes hospitals will dominate the market by holding the market share of 39.7% in 2024. The increasing footfall of patients to the hospitals for their regular check-up anticipates the growth of the segment.
- North America region is considered the leading region with a value share of 27.5% in 2024. The rising prevalence of obese population in the region surges the growth of the market in the region.
"Novel pharmacological discoveries targeting particular pathways in metabolic diseases, along with personalized medicine methods, are specifically driving growth in the obesity diabetes drug industry.," says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Market Competition
The primary approach taken by the key operating players in the industry is to develop novel therapeutic options for the management of obesity-diabetes. The major aim of the key players is to expand their product portfolio through the introduction of new products and uphold their position in the market. Following are a few examples of research and development activities made by them to be at the top position:
- In November 2023, Eli Lilly and Company received approval for Zepbound from the U.S. FDA. This Zepbound injection is indicated for the treatment of adults with obesity and have weight related metabolic problems including type 2 diabetes mellitus.
- In November 2023, Astrazeneca collaborated with Eccogene, a Chinese biopharmaceutical company for research and development of ECC5004, which is an investigational glucagon-like peptide 1 receptor agonist (GLP-1RA) indicated for the treatment of obesity, and type 2 diabetes.
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Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. The global obesity-diabetes drugs market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights into obesity-diabetes drugs market segment based on therapy- drug therapy (Meglitinides, sulfonylureas, Dipeptidyl-peptidase 4 (DPP-4) inhibitors, biguanides, thiazolidinediones, alpha-glucosidase inhibitors, sodium-glucose co-transporter 2 (SGLT2) inhibitors, bile acid sequestrants and GLP-1 receptor agonists), and insulin therapy (rapid acting insulin, short acting insulin, intermediate acting insulin, long acting insulin and biphasic insulin), route of administration - oral administration, nasal administration and parenteral administration (subcutaneous, intramuscular and intravenous), distribution channel - Institutional sales (hospitals, specialty clinics, and others), retail sales (retail pharmacies, and drug stores) and online pharmacy, across seven major regions.
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About the Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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