Developments in the Obesity Treatment Market
9:25 AM ET 3/16/18 | Dow Jones
NEW YORK, March 16, 2018 /PRNewswire/ --
According to Grand View Research, the global obesity treatment market was valued at USD 3.9 billion in 2015 and is expected to reach $15.6 billion by 2024. The demand for weight management continues to increase as obesity posts an enormous challenge to healthcare in developed countries as well as in lower and middle-income economies. According to the Institute of Health Metrics and Evaluation, about 30% of the global population is either obese or overweight. In addition, increasing awareness of obesity's impacts on health further drives the growth of the market. The report indicated that the North American region holds the largest market share of global obesity treatment market due to growing overweight and obese population. BioCorRx Inc. (OTC: BICX), Zafgen,Inc. (NASDAQ: ZFGN), ReShape Lifesciences Inc. (NASDAQ: RSLS), VIVUS, Inc. (NASDAQ: VVUS), ReShape Lifesciences Inc. (NASDAQ: RSLS), Obalon Therapeutics, Inc. (NASDAQ: OBLN)
According to another report from Marketdata, the commercial weight loss programs segment of the obesity market is estimated to have grown 9.4 percent to $3.03 billion in 2017. John LaRosa, the Research Director of Marketdata, said: "The number of active dieters is estimated to have fallen 10% since 2015, to 97 million, due to a growing size acceptance movement and dieter fatigue. About 80% try to lose weight by themselves, but many fail and the latest CDC statistics show that we are getting fatter, not thinner. The new 2018 diet season is about to begin in late December, and the giants of the market are strongly positioned for more gains."
BioCorRx Inc. (OTCQB: BICX) yesterday announced, "an update on the pilot program for weight loss with Atlantis Medical Wellness & Weight Loss Center. The weight loss program began in October 2017 and the Company reports that Atlantis has successfully enrolled a total of twelve individuals to date as planned into the program. The initial results have been positive as reported by patients.
As mentioned in the Company's previous release, BioCorRx has teamed up with Dr. Benjamin Gonzalez, Medical Director of Atlantis Medical Wellness & Weight Loss Center in Silver Spring, MD. Dr. Gonzalez is renowned for his expertise in clinical nutrition with a focus on exercise nutrition and weight management.
According to the CDC, more than one-third (36.5%) of U.S. adults have obesity. According to a 2012 article in the Journal of Health Economics, estimates of current healthcare costs of obesity range from $147 billion to nearly $210 billion per year. Some of the risks associated with this disease include heart disease and stroke, high blood pressure, metabolic syndrome, breathing problems and other health issues."
Brady Granier, CEO, President, and Director of BioCorRx, stated, "We are very pleased with the feedback we have received from Dr. Gonzalez and the patients enrolled in the pilot program to date. We anticipated that this program would help individuals struggling with their weight in some way, but it's great to actually hear the excitement from those enrolled thus far. One of the first patients who enrolled in the program reported a weight loss of 25 pounds after three months along with healthier lifestyle habits. So far, most of the participants polled have expressed reduced cravings for food. We look forward to completing the pilot mid-year and plan to begin marketing the official weight loss program as anticipated immediately thereafter."
Zafgen,Inc. (NASDAQ: ZFGN) is a clinical-stage biopharmaceutical company leveraging its proprietary knowledge of MetAP2 systems biology to develop novel therapies for patients affected by a range of complex metabolic diseases. In 2018, Zafgen plans to file an investigational new drug (IND) application with the U.S. FDA and initiate Phase 1 clinical trials for ZGN-1258, its new molecule for the treatment of Prader-Willi syndrome and potential other rare and serious forms of obesity. On January 5, 2018, the company announced strong clinical progress with its lead ZGN-1061 program currently in development for patients with complex type 2 diabetes. Additionally, the company unveiled plans to return to the rare metabolic disease space in 2018, with a second highly optimized MetAP2 development candidate, ZGN-1258, targeting an initial indication in Prader-Willi syndrome. ZGN-1258 is designed to change the way the body metabolizes fat, reduce fat mass and decrease hyperphagia in PWS, a rare genetic form of life-threatening obesity characterized by unrelenting pathologic hunger (hyperphagia) leading to dangerous food-seeking behavior.
ReShape Lifesciences Inc. (NASDAQ: RSLS) is a medical device company focused on technologies to treat obesity and metabolic diseases. Recently, the company announced an exclusive federal government business channel sales agreement with Academy Medical, LLC to sell its ReShape Balloon(TM) and ReShape vBloc(TM) products to U.S. Department of Defense (DoD) medical facilities. Through this agreement, the ReShape Balloon and ReShape vBloc are both now approved products for sale into DoD medical facilities. This new agreement adds increased distribution by Academy Medical of ReShape vBloc, which has been distributed through Academy Medical to VA facilities since May 2016. Academy Medical is a certified Service-Disabled Veteran-Owned Small Business specializing in the distribution of medical products to VA and DoD hospitals and community-based outpatient clinics.
VIVUS, Inc. (NASDAQ: VVUS) is a biopharmaceutical company committed to the development and commercialization of innovative therapies that focus on advancing treatments for patients with serious unmet medical needs. The company's products are indicated for the treatment of obese and overweight patients and for erectile dysfunction. Erectile dysfunction can lead to reduced quality of life for the millions of men living with the condition. Recently, the company reported financial results for the quarter and year ended December 31, 2017 and provided a business update. Total revenue, net for the fourth quarters of 2017 and 2016, was $11.9 million and $81.8 million, respectively. Approximately 91,000 and 100,000 Qsymia prescriptions were dispensed in the fourth quarters of 2017 and 2016, respectively. Qsymia is approved in the U.S. and is indicated as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adults with an initial body mass index (BMI) of 30 kg/m2 or greater (obese) or 27 kg/m2 or greater (overweight) in the presence of at least one weight-related medical condition such as high blood pressure, type 2 diabetes, or high cholesterol.
Obalon Therapeutics, Inc. (NASDAQ: OBLN) is a San Diego-based, vertically integrated medical technology company focused on developing and commercializing novel technologies for weight loss. Obalon has launched the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity. On March 05, 2018, the company announced its audited financial results as of and for the fourth quarter and full year ended December 31, 2017. The Company reported total revenue of $3.7 million for the fourth quarter of 2017, compared to $0.8 million for the fourth quarter of 2016. U.S. revenue of $2.9 million represented 78% of total revenue and international revenue of $0.8 million represented 22% of total revenue for the fourth quarter 2017.
