Pune, July 22, 2024 (GLOBE NEWSWIRE) -- Rising focus on preventive healthcare and weight management is fuelling the growth of the global market for Weight Loss Drugs. Prevention is a relatively new focus for healthcare, resulting from the understanding that being overweight or obese brings with it health risks and maintaining a healthy weight has benefits. Obesity results in a range of health conditions including type 2 diabetes, cardiovascular diseases, and certain cancers that impose significant costs on healthcare systems.
The World Health Organization (WHO) projects that medical costs to address obesity-related diseases will reach $1.2 trillion globally per year by 2025. To offset these expenses, healthcare providers and policy-makers are more focused on prevention through programs to manage weight or treat overweight with medications.
Obesity prevention programs, public health campaigns, and government policies are increasing awareness regarding obesity as a preventable disease and reducing healthy weight rates to promote lifestyle changes amongst obese individuals in combination with drug-induced bodyweight reductions for lifelong maintenance of preventive combined programs. We have to embrace the untapped potential of technology and similar tools that are available today at our fingertips, making it almost foolproof for individuals attempting weight management. A growing number of people adopting preventive healthcare and practicing weight management is fueling the demand for efficacious weight reduction medications, thereby supporting expansion on a global scale in the Weight Loss Drugs Market.
Based on the distribution channel, in 2023 retail pharmacies hold a market share of 45% as they are widely available and consumer-convenient. Then these pharmacies are mainly found in both urban and rural areas, this gives a basic point of purchase for many patients who want to buy weight loss medications. Retail pharmacies often have existing relationships with healthcare providers so prescription fulfillment is seamless, and medication counseling becomes an extra layer of care instead of a new barrier.
Furthermore, they provide a lot of products that range from prescription weight loss pills to over-the-counter too depending on what suits whom. Consumers also cited their increased desire to buy when they are out shopping for other purposes and the trust associated with picking up medications at retail pharmacy chains that have been in business for many years as reasons why they view this channel so favorably. In addition, retail pharmacies offer other services including prescription management and help plans that grab the attention of patients more than others leading to continuation in commitment to treatment.
Retail Pharmacies are key channels in the weight loss drugs market a full-service customer care model is employed by Retail pharmacies and hence is the leading distribution platform on the weight loss drugs market. The weight loss drugs market in is expected to grow significantly during the forecast period at a CAGR of 15.6%.
Factors driving this rapid growth are such as obesity rates are rising quite fast in the APAC region due to urbanization, food habits, and sedentary lifestyles. For Example, Emerging Countries Such as China and India Have a High Prevalence Of obesity due to changes in modernization & lifestyles leading to metabolic disorders, hence there is an opportunity for weight management solutions with significant growth. Further, the increasing middle class and growing healthcare infrastructure across the region are providing easier access to prescription drugs as well as weight loss therapies.
On the other hand, especially in developing countries where a significant part of the population doesn't have enough money to buy very expensive and exotic oils then premium-priced products can limit market growth designed by government actions addressed to fight with overweight. The increasing market penetration of digital health tools and online pharmacies in the region is further augmenting sales by making weight loss drugs more accessible to potential new customers. Hence, the increasing patient pool for obesity coupled with increased health awareness and strengthening healthcare systems in the Asia-Pacific region is expected to drive the weight loss drugs market during the forecast period.
1. Introduction 2. Industry Flowchart 3.
Research Methodology 4. Market Dynamics 4.1 Drivers 4.
2 Restraints 4.3 Opportunities 4.4 Challenges 5.
Porter’s 5 Forces Model 6. Pest Analysis 7. Weight Loss Drugs Market Segmentation, By Drug Type 8.
Weight Loss Drugs Market Segmentation, By Mechanism of Action 9. Weight Loss Drugs Market Segmentation, By Distribution Channel 10. Regional Analysis 11.
Company Profiles 12. Competitive Landscape 12.1 Competitive Benchmarking 12.
2 Market Share Analysis 12.3 Recent Developments 12.3.
1 Industry News 12.3.2 Company News 12.
3.3 Mergers & Acquisitions 13. Use Case and Best Practices 14.
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