The global Metabolism Drugs Market Growth Accelerated by Needs of Medication Management
Metabolism drugs are prescription medications that help regulate and normalize an individual's metabolism. Products like Adderall, Vyvanse, and Ritalin help manage conditions like attention deficit hyperactivity disorder by slowing down the central nervous system and allowing for improved focus and concentration. Metformin is commonly prescribed to treat type 2 diabetes by helping regulate blood sugar levels. The need for effective medication management of chronic health issues is driving demand for metabolism drugs.
The global Metabolism Drugs Market is estimated to be valued at US$ 8169.16 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of chronic metabolic disorders is one of the key factors contributing to the growth of the metabolism drugs market. These conditions like diabetes and obesity have been on the rise globally due to poor dietary and lifestyle choices. It is estimated that over 420 million people worldwide have diabetes, with the number expected to rise to over 620 million by 2040. Similarly, worldwide obesity rates have nearly tripled since 1975 according to the World Health Organization. As more people develop metabolic issues, the demand for effective medication options will continue surging over the forecast period. Managing chronic diseases also economically impacts healthcare systems, pushing for more innovative drug formulations that can help curb the costs associated with these conditions over the long run.
Segment Analysis
The global Metabolism Drugs Market is dominated by the anti-obesity drugs segment. These drugs help in weight management and reduce the risk of obesity-related diseases like diabetes and heart diseases. They work by either suppressing appetite or increasing feeling of fullness. Some of the popular anti-obesity drugs are orlistat, lorcaserin, phentermine, liraglutide etc. The anti-obesity drugs segment holds around 35% of the total metabolism drugs market share owing to the rising global prevalence of obesity disorders.
Key Takeaways
The Global Metabolism Drugs Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Metabolism Drugs Market is estimated to be valued at US$ 8169.16 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030.
Regional analysis: North America region currently dominates the global metabolism drugs market share and is expected to continue its dominance over the forecast period. This is attributable to the growing obese population in countries like the US and Canada coupled with high healthcare expenditure in the region. The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to rising lifestyle diseases and increasing disposable incomes in emerging economies like India and China.
Key players: Key players operating in the metabolism drugs market are Central Admixture Pharmacy Services, Inc., Nephron Pharmaceuticals Corporation, QuVa Pharma, Olympia Pharmacy, ASP Cares, Fagron Compounding Pharmacies, Athenex, Inc., Avella Specialty Pharmacy, Atlas Pharmaceuticals, Empower Pharmacy, Carie Boyd€TMs Prescription Shop, Edge Pharma, Imprimis NJOF, LLC, IntegraDose Compounding services, LLC, Wells Pharma of Houston, LLC, US Compounding Inc., and SCA Pharma. These players are focusing on new product launches, expanding their regional presence and acquiring other players to gain maximum revenue share in this high growth market.
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