Obesity is a chronic medical disease occur due to excessive accumulation of fats in the body. As per WHO, around 39% of adults above 18 years of age were overweight and around 13% were obese in 2016. Moreover, with the rising disposable income of individuals and burgeoning health consciousness and awareness among individuals are the major reasons for the growth of weight loss and obesity management. Also, rising obesity and excessive weight are leading to diseases such as cardiovascular disease, high blood pressure, depression, types of cancer, etc. Thus, awareness among millennials is growing for self-health care.
Different drugs are medicines are launched to restrict obesity and excessive weight thus, companies are launching new products. FDA approved few drugs in 2012 in the United States. VBloc is the recently approved drug by FDA that stimulates the nerve to control hunger. These new drugs and technologies launched are anticipated to boost the market of weight loss and obesity management during 2020-25.
According to the MarkNtel Advisors’ research report, “Global Weight Loss and Obesity Management Market Analysis, 2020”, the CAGR of global Weight loss and Obesity Management is expected to be around 6.5% during 2020-25. The market growing due to the continuous rise in obese people across the globe. As per WHO, more than 1.9 billion individuals across the world were suffering from overweight in 2016 and around 650 million people were obese in the same year.
Moreover, increasing health awareness among people about the benefits of weight management is the key factor contributing to the growth of the market.
India Emerging as a Hotspot in the Market of Weight Loss and Obesity Management
North America has the dominance of obesity and excessive weight followed by India and China. Asia-Pacific has growing opportunity owing to a large number of population coupled with the rising obesity. Therefore, the market for weight loss and obesity management is anticipated to grow during 2020-25. Moreover, emerging countries such as India, Malaysia, and Indonesia have low disposable income coupled with rising medical tourism activities and ample medical treatment facilities. The United States and the United Kingdom are the major countries providing source with immense opportunities in medical tourism sector in India.
Emergence of New Products and Technology in Weight Loss and Obesity Management
Electrical stimulation systems are used for bariatric surgeries that help to control hunger. FDA approved VBloc in 2015, a device that stimulates the nerve to control hunger and feel full for some time. Drug and Device manufacturing companies such as Boehringer Ingelheim, Novo Nordisk, Sanofi, and AstraZeneca are expected to launch new drugs by 2026. Treatment of obesity and excess weight by using drugs and devices has proving to be beneficial. Drugs such as Qsymia, Empatic, and Contrave are showing improvements in human beings as revealed by MarkNtel Advisors’ in their research report, “Global Weight Loss and Obesity Management Market Analysis, 2020”.
According to the MarkNtel Advisors the major leading players are Weight Watcher International, Inc, Medtronics, Brunswick Corporation, Golds Gym International, Inc, Nutrisystem, Lifetime Fitness, Johnson Health Tech, Kellogg, Apollo Endosurgery, Allergan among others.
“Global Weight Loss and Obesity Management Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for automotive ventilation seats providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
1. By Diet (Meals, Meals Replacement, Low-Calorie Diet, Low-Calorie Sweeteners, Beverages, Low-Calorie Beverages/Diet Soft Drinks, Herbal Tea/Green Tea, Slimming Water, Other Low-Calorie Beverage)
2. By Service (Fitness Centers, Slimming Centers, Consulting Services, Online Weight Loss Programs), By Equipment (Fitness Equipment, Cardiovascular Training Equipment, Treadmill, Elliptical, Stationary Cycles, Rowing Machines, Stair Steppers, Strength Training Equipment's, Single Stations, Plate Loaded, Free Weights, Benches and Racks, Multi Stations, Accessories)
3. By Region (North America, Latin America, Europe, Middle East and Africa and Asia-Pacific)
4. By Country (United States, Canada, Mexico, Brazil, Argentina, Germany, Italy, United Kingdom, Spain, France, GCC, Turkey, China, India, Japan, Australia)
5. By Company (Weight Watcher International, Inc, Medtronic, Brunswick Corporation, Golds Gym International, Inc, Nutrisystem, Lifetime fitness, Johnson Health Tech, Kellogg, Apollo Endosurgery, Allergan)
Key questions answered in the study:
1. What are the current and future trends of the global Weight Loss and Obesity Management market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the global Weight Loss and Obesity Management industry?
6. What are the customer orientation, purchase behavior, and expectations from global Weight Loss and Obesity Management Devices suppliers across various regions?