Binge (Eating) Disorders Market: Introduction
- Binge eating disorder is a mental illness. People with binge eating disorder eat more amount of food in a short period of time. This leads to obesity or weight gain in people.
- Untreated binge eating disorder leads to mental and physical health problems such as diabetes, cardiovascular diseases, depression, anxiety, and arthritis, among others
- Binge eating disorder can be treated with medication and counseling
Key Drivers and Opportunities of Global Binge (Eating) Disorders Market
- Rise in prevalence of eating disorder is anticipated to drive the binge (eating) disorders market. For instance, according to The National Institute of Mental Health (NIMH), the prevalence of binge eating disorder is high in female than males.
- The Global Burden of Disease Study 2017 stated that Australia had the highest prevalence of eating disorders across the globe
- A study published in NCBI relates sleep deprivation to increasing eating habits, which comprises binge eating and emotional eating
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- Eating disorder is a major threat. Governments of various countries have thus taken several initiatives to address this issue. For instance, in December 2018, Minister for Health, Australia, announced the Medicare Benefits Scheme. It is an amendment to improve affordability and access of eating disorder in Australia.
- Increase in research and development activities to develop new products is likely to fuel market growth. For instance, OX1 Antagonist, a product for binge eating disorder, is in the preclinical trail phase. It is a product offered by Chronos Therapeutics.
- Dasotraline offered by Sunovion Pharmaceuticals Inc. for the treatment of binge eating disorder in adults is registered in the United States
- Emerging markets, such as Latin America, Middle East & Africa, and Asia Pacific, present significant opportunities, owing to the increase in prevalence of eating disorders. For instance, according to the National Eating Disorder Collaboration, over 16% of the population of Australia was affected by eating disorder.
North America to Hold a Major Share of Global Binge (Eating) Disorders Market
- North America is expected to hold a major share of the global binge (eating) disorder market due to increase in prevalence rate of eating disorders. For instance, according to the National Institute for Eating Disorder, in 2016, approximately 1 million people in Canada met the diagnostic criteria for eating disorder. According to the National Comorbidity Survey Replication, in the United States, binge eating disorder is most common in adults and affects approximately 2.8 million U.S. adults.
- This market in Asia Pacific is anticipated to expand at rapid pace during the forecast period, owing to increase in awareness. For instance, TELL Japan offers counselling services through the TELL Eating Disorders Treatment Program. The aim of this program is to increase awareness in Japan about eating disorders.
Key Players Operating in Global Binge (Eating) Disorders Market
The global binge (eating) disorders market is highly concentrated due to the presence of key players.
A large number of players hold a major share in their respective region. Strategic development by key players is anticipated to drive the growth of the market. For instance, in July 2019, Sunovion Pharmaceuticals Inc. announced that the new drug application (NDA) for dasotraline was accepted by the U.S. Food and Drug Administration. Dasotraline is used to treat severe and moderate binge eating disorders. In March 2019, BlueMountain Capital Management announced the launch of Promises Behavioral Health, which will operate programs and 12 facilities in seven states providing option for the treatment of trauma, eating disorder, substance abuse, sex addition, and other mental health disorders. In July 2017, the company acquired Tapestry Eating Disorder Services. In October 2016, the U.S. Food and Drug Administration approved the New Drug Application to update the U.S. labelling of Vyvanse.
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Leading players operating in the global binge (eating) disorders market are:
- Chronos Therapeutics
- Shire US Inc.
- Eli Lilly and Company
- Sunovion Pharmaceuticals Inc
- Promises Behavioral Health
- Pyramid Healthcare (Tapestry Eating Disorder Services)
- Timberline Knolls
- Rosewood Centers for Eating Disorders
- Walden Behavioral Care
Global Binge (Eating) Disorders Market: Research Scope
Global Binge (Eating) Disorders Market, by Treatment
- CNS Stimulant
Global Binge (Eating) Disorders Market, by Region
- North America
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.