The binge eating disorder therapeutic market comprises medicines and therapies for controlling and treating binge eating disorder symptoms. Binge eating disorder is a serious eating disorder characterized by frequent episodes of uncontrolled eating or consuming unusually large amounts of food in a short period. People with this condition feel unable to stop eating or control how much they are eating during a binge episode. Some key features of binge eating disorder include eating much more rapidly than normal, eating until feeling uncomfortably full, eating large amounts of food when not feeling physically hungry, eating alone due to feeling embarrassed by how much one is eating, and feeling disgusted with oneself, depressed, or very guilty afterwards.
The Global Binge Eating Disorder Therapeutic Market is estimated to be valued at USD 2.5 bn in 2024 and is expected to reach USD 3.4 bn by 2031, growing at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Key players operating in the binge eating disorder therapeutic market are Shionogi, Roche, and Novartis. The growing prevalence of binge eating disorder due to changing lifestyles and rising obesity rates is a major factor driving the demand for effective treatment options. Moreover, technological advancements in therapeutic drugs and therapies for better management of the condition is expected to support the Binge Eating Disorder Therapeutic Market growth
Key Takeaways
Key players: Shionogi, Roche, and Novartis are the major players offering drugs for controlling binge eating symptoms.
Growing demand: The increasing awareness about binge eating disorder and availability of treatment options are fueling the demand. Moreover, rising obesity rates globally are contributing to higher disease prevalence.
Technological advancement: Ongoing research and development activities are helping discover more effective medicines and therapies. Digital therapeutic tools are also gaining traction for binge eating disorder treatment.
Market Trends
Personalized treatment approaches - Healthcare providers are focusing on personalized treatment plans customized as per the severity of symptoms, comorbidities, and other factors.
Digital therapeutics - Digital apps and software are being developed to deliver cognitive behavioral therapy for binge eating online or via smartphones. This makes therapy more accessible.
Market Opportunities
Emerging economies: With improving access to healthcare in developing nations, opportunities exist to ramp up awareness programs and treatment uptake.
Combination therapies: Combining drugs, digital tools, and conventional therapies can achieve optimal management of binge eating disorder. Studies on efficacy of combination approaches are ongoing.
Impact of COVID-19 on Binge Eating Disorder Therapeutic Market Growth
The COVID-19 pandemic has significantly impacted the Binge Eating Disorder Therapeutic market. Lockdowns and social distancing norms imposed to curb the spread of the virus resulted in increased stress, anxiety, and social isolation among people. This has led to a rise in eating disorders like binge eating. With therapeutic sessions moved to virtual and telehealth modes, ensuring continuity of care became challenging.
Prior to the pandemic, most therapeutic interventions involved in-person group sessions or individual counselling. However, transitioning to virtual platforms came with difficulties like lack of personal connection, unreliable or no internet access hindering video sessions, and inability to closely monitor patients. This disrupted treatment plans. With people confined to homes, easy access to food also increased the risk of binge episodes. Job losses and financial worries added to mental health issues.
Post COVID, the market is expected to grow steadily. Telehealth and digital therapeutic options are being strengthened and integrated with conventional therapies. More insurers are covering tele-BD services. Remote patient monitoring tools allow tracking health indicators and providing support between sessions. awareness about the role of mental wellbeing in countering long COVID is driving referrals. New guidelines focus on prevention, early diagnosis and continuing care. Collaborations between healthcare providers and non-profits aim to address barriers to access created due to pandemic. If addressed comprehensively, the impact of COVID-19 could help therapy move in a more patient-centric direction.
Geographical Regions with Highest Binge Eating Disorder Therapeutic Market Value
The Binge Eating Disorder therapeutic market witnessed highest value contributions from the United States and major Western European countries like Germany, United Kingdom and France in the pre-COVID period. This is attributed to high awareness, developed healthcare infrastructure and favourable insurance coverage for mental health treatments.
The Asia Pacific region, particularly China and Japan, is emerging as the fastest growing market for binge eating disorder therapeutics post COVID. This is due to improving accessibility of therapies, increasing dialogue around topics of body image and eating disorders due to Western influence, growing obesity rates and evolving policies boosting prevention and management of lifestyle conditions in this region.
Geographical Regions with Fastest Growth in Binge Eating Disorder Therapeutic Market
The Asia Pacific region has shown the fastest growth trajectory in the Binge Eating Disorder Therapeutic market over the past few years and is expected to maintain this momentum. Factors such as rising awareness, reducing stigma, growing obesity rates, evolving healthcare investment and infrastructure are helping more patients from Asia Pacific seek help for conditions like binge eating disorder.
Countries like China, South Korea and India with their rapidly developing economies present immense scope for this market. Concerted efforts by private organizations, patient communities and local governments to destigmatize mental healthcare and make therapeutics accessible to broader demographics present growth opportunities. Continued collaborations between global pharmaceutical companies and local clinical researchers would aid knowledge dissemination and therapy innovations tailored for Asian population.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)