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GBI Research: Anti-Obesity Drug Market to Increase by 2019, but Stigma Attached to Treatment Still a Major Hurdle
9/5/2013 9:45:10 AM
NEW YORK (GBI Research), 5 September 2013 -- The anti-obesity drug market, which is dominated by off-patent Orlistat, is expected to increase from $750 million in 2012 to $2.6 billion in 2019, at a Compound Annual Growth Rate (CAGR) of 20.7%; but the small number of therapeutics in late-stage development will limit the market growth way below its potential, says a new report from business intelligence provider GBI Research.
According to the company’s latest report*, the forecast growth can be attributed to the anticipated performance of the recently approved Qsymia drug, which has proven to be superior in terms of efficacy for the long-term treatment of obesity. But the successful sales of Qsymia will be dependent on it being proven safe in the long-term and remaining on the market — a trend not historically seen with obesity drugs.
Only 3% of the obesity drug pipeline is currently in the late stages of development, with just one drug candidate in the Pre-registration level and two in Phase III. This limits the number of drugs with the potential to be approved, as well as market growth. Currently, the obesity drug market consists of very few effective drugs, with limited availability in different regions - only Orlistat is available in both the EU and the US. Following its patent expiry in 2009, competitive generics are expected to drive down the market revenues of branded Orlistat (Xenical) within the forecast period.
Katie Noon, GBI Research’s Analyst covering the pharmaceutical industry, says: “The global prevalence of obesity and overweight cases is very high, but only a small percentage of obese patients are treated with pharmacotherapy. This may be a result of several factors, such as the limited efficacy of currently available drugs, and the general unfavourable opinion among physicians and patients of anti-obesity drugs due to their side effects.”
GBI Research believes that for anti-obesity drugs to maximize their market potential and revenues, products will have to prove that they adhere to the efficacy requirements of governing bodies and that they demonstrate their long-term safety. However, it might take many years for the stigma attached to anti-obesity drugs to change among patients and healthcare professionals.
*Obesity Therapeutics to 2019 - Safety Concerns Hinder Drug Performance Despite Large Market Opportunity
This report analyzes the incidence of obesity, current treatment options, pipeline and market forecasts, and deals surrounding anti-obesity drugs in the US, UK, France, Germany, Italy, Spain and Japan.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GBI Research’s team of industry experts.
-ABOUT GBI RESEARCH-
GBI Research is a market-leading provider of business intelligence reports, offering actionable data and forecasts based on the insights of key industry leaders to ensure you stay up-to-date with the latest emerging trends in your markets.
For more information, please contact our Press Office on +44 (0)1204 543 528 or at email@example.com.
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