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The binge-eating disorder treatment market size is estimated to grow at a CAGR of 7.26% between 2022 and 2027. The market size is forecast to increase by USD 578.04 million. The growth of the market depends on several factors, including the increasing prevalence of binge-eating disorders, the growing obese population, and the rising government initiatives.
This binge-eating disorder treatment market report extensively covers market segmentation by distribution channel (offline and online), type (antidepressants, anticonvulsants, and stimulants and others), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Increasing prevalence of binge-eating disorder is notably driving the market growth, although factors such as side effects of binge-eating disorder drugs impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the binge-eating disorder treatment market growth is the increasing prevalence of binge-eating disorder. As binge-eating disorders is prevalent across all age groups, races, and income levels, it can significantly contribute to the binge-eating disorder treatment market growth. For instance, in the US, this condition has a lifetime frequency of 2.6%. 49% of people with binge-eating disorders have a lifetime history of two or more comorbid disorders; around 79% of people with binge-eating disorders have one psychiatric disorder.
As the patients have to face a lot of impairments in their lifestyle that are treated by the medications available in the market, It is fuelling the revenue growth of the global binge-eating disorder treatment market. Furthermore, the symptomatic treatment by antidepressants is helping in preventing various patients from complications of binge-eating disorder. Hence, such factors can significantly drive the global binge-eating disorder treatment market during the forecast period.
A key factor shaping the binge-eating disorder treatment market growth is the development and approval of new drugs. Pharmaceutical vendors are significantly developing new binge-eating disorder treatments for approval as there is an increasing prevalence of binge-eating disorders. For instance, in 2022, Tonix Pharmaceuticals Holding Corp. and Massachusetts General Hospital announced an agreement to assess TNX-1900 as a probable treatment for patients with binge-eating disorders.
Furthermore, in January 2023, Tryp Therapeutics announced interim results of its Phase II trial with psilocybin (TRP-8803) for the treatment of binge-eating disorder, with daily binge-eating episodes reduced by an average of 80%. Thus the development and approval of new drugs continues to drive the global binge-eating disorder treatment market during the forecast period.
Side effects of binge-eating disorder drugs are the key challenges hindering the binge-eating disorder treatment market growth. Factors such as the use of binge-eating disorder drugs during pregnancy may lead to congenital abnormalities and stillbirths, and binge-eating disorder drugs cause spontaneous abortion, persistent pulmonary hypertension in newborns, low birth weight, gestational hypertension, prematurity, postpartum hemorrhage, and delayed motor development in the newborn can significantly decrease the adoption of binge-eating disorder treatment.
Furthermore,binge-eating disorder drugs produce physical side effects such as headaches, insomnia/hypersomnia, and gastric distress, as well as emotional side effects including hyperactivity, hostility, emotional lability, irritability, and self-harm. Thus, these side effects can impede the global binge-eating disorder treatment market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Binge-eating Disorder Treatment Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alvogen Iceland ehf - The company offers a binge-eating disorder treatment drug called Forfivo XL tablets under its subsidiary called Almatica.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. The offline sector dominated the global binge-eating disorder treatment market and held the largest share in 2022. As offline stores offer product assurance, authenticity, and verification, most customers prefer buying through offline distribution channels.
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The offline segement was valued at USD 781.65 million in 2017 and continued to grow until 2021. The offline store has several advantages based on factors such as geographical presence, ease of production and inventory management, and goods transportation. Market players significantly invest in brick-and-mortar organized retail stores to increase their regional and global shares in the market. Due to the increased footfall in offline stores, vendors are investing in brick-and-mortar stores to sell binge-eating disorder treatment drugs. Thus, it is anticipated that a rise in the retail sector, which improves access to items, will accelerate offline segment growth, which, in turn, will boost the growth of the global binge-eating disorder treatment market during the forecast period.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growth of the regional market can be attributed to factors such as the high prevalence of binge-eating disorders and the availability of several treatments. There is an increasing prevalence of binge-eating disorders in the US, which offers opportunities for growth in the market in North America.
Also, according to The World Bank Group (WBG), in 2020, healthcare expenditure in the US increased by 9.7% and reached USD 4.1 trillion or USD 12,530 per person. Furthermore, the country's healthcare expenditure accounted for 19.7% of its gross domestic product (GDP) in 2020. Hence, such factors drive regional market growth during the forecast period.
In 2020, the outbreak of COVID-19 negatively impacted the growth of the binge-eating disorder treatment market in North America. However, in the second half of 2020, several rehabilitation centers across this region started providing counseling sessions and treatments through digital channels, which enabled the market to deal with the pandemic's negative effects by registering growth through online channels. Furthermore, in 2021, the initiation of large-scale vaccination drives led to the lifting of lockdown restrictions and the restoration of operations in healthcare units. As a result, larger inflows of patients at the rehabilitation facilities for treatment were observed in North America as compared to 2020. Such factors are expected to drive the growth of the market in North America during the forecast period.
The binge-eating disorder treatment market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global binge-eating disorder treatment market as a part of the pharmaceutical market within the overall healthcare industry. The parent pharmaceuticals market covers products and companies engaged in R&D or the production of generic drugs, non-generic drugs, and veterinary drugs. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Binge-eating Disorder Treatment Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.26% |
Market growth 2023-2027 |
USD 578.04 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
6.24 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 38% |
Key countries |
US, UK, Germany, China, and India |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alvogen Iceland ehf, Bausch Health Co. Inc., Chronos Therapeutics Ltd., Currax Pharmaceuticals LLC, Eli Lilly and Co., Johnson and Johnson Services Inc., Lupin Ltd., Omeros Corp., Pyramid Healthcare Inc., Rosewood Centers for Eating disorders, Sumitomo Pharma Co. Ltd., Takeda Pharmaceutical Co. Ltd., Timberline Knolls Residential Treatment Center, Tonix Pharmaceuticals Holding Corp., Tryp Therapeutics Inc., Viatris Inc., VIVUS LLC, and Walden Behavioral Care |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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