Booming Global Obesity Drug Market is the title of the new market research report published by RNCOS, a market research consulting services company specializing in BioPharma, IT, Telecom, Retail and Service industries.
According to the fine folks at RNCOS:
- The prevalence of obesity is increasing globally at alarming rates
- The Obesity drug market has shown a radical growth in recent times, but in contrast,
- The market for Weight Loss drugs has failed to match this growth
Note: I am not sure what the difference between the Obesity Drug Market and the Weight Loss Drug Market is, but according to RNCOS, the Weight Loss drug manufacturers had better step up their game.
By 2012, it’s expected that more than two billion people will be overweight and 600 million will be obese, representing immense opportunities for both markets.
Unfortunately, the market for weight loss drugs is characterized by numerous failures.
A number of drugs have failed to get approval, some have been recalled, and those that have entered the market either suffer from serious side effects or have just failed to give the desired results consumers expected from them.
Maybe that’s why the weight loss drug manufacturers aren’t doing so well – Unapproved drugs, recalled drugs, drugs that don’t work and drugs with serious side effects.
Refusal of healthcare authorities to grant reimbursement to these drugs has also impeded the growth.
Why would governments or insurance companies reimburse drug companies for costs incurred developing weight loss drugs that don’t work or have serious side effects?
One of the most recent examples can be taken from Sanofi’s Acomplia; the drug was hailed as a multimillion blockbuster before it was launched. But Acomplia, like most of its predecessors, failed to have a sufficient benefit to risk ratio and was taken off the market just two and a half years after its launch.
The future of the obesity drugs market, however, may not be so gloomy.
This is because the market has high unmet demand and any drug that manages to provide a high benefit to risk ratio can easily achieve blockbuster status.
Note: What the hell is a high benefit to risk ratio???
Moreover, despite some of its recent failures, the obesity drug pipeline is rich and a large number of drugs are in phase 3 and late phase 2 trials. If some of these drugs manage to reach the market and possess a strong efficacy and safety profile, they can quickly become billion dollar blockbusters.
The U.S. is followed by the U.K. and other European countries. In the future, emerging economies such as china, Russia, India and Brazil are also expected to become huge markets for weight loss products.
Way to go China!!!
And, just in case you are one of the lucky few who still have some extra money laying around that you would like to invest:
The RNCOS report gives an extensive and objective analysis on the global market for obesity drugs. It…blah, blah, blah…can give valuable information to investors planning to foray (I don’t think I have ever forayed before) into the obesity drug market…blah, blah, blah…
Interesting isn’t it?
If I was a cynical type of person, I just might think that:
- Obesity is seen by drug manufacturers as a growth industry, and
- The fatter we get, the more money they make, and
- Their need for profit might motivate them to lobby for gov’t policies that result in higher numbers of obesity, and
- Since a lot of money can be made with drugs that “possess a strong efficacy and safety profile”,
- They have no motivation to find a cure, because
- Chronic diseases keep people popping pills for the rest of their lives
Damn, maybe I am cynical…gotta work on that.
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