The anti-obesity drugs market consists of sales of anti-obesity drugs and related services. This industry includes establishments that produce pharmacological agents that reduce or control overweight.
The global antiobesity drugs market is expected to decline from $1.6 billion in 2019 to $1.6 billion in 2020 at a compound annual growth rate (CAGR) of -2.8%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. COVID-19 pandemic is affecting industries across the globe including the pharmaceutical sector. The disruptions due to extended factory closures in various countries, shortage of APIs and other chemicals, rise in prices of key ingredients, and slowed production are the key factors for this decline. The market is then expected to recover and grow at a CAGR of 21.1% from 2021 and reach $3.7 billion in 2023.