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Report Code: LS10345
Category : Healthcare
The global weight management market is growing significantly due to escalating technological advancement, increasing innovation in weight management ingredients, and increasing prevalence of obesity. According to National Health and Nutrition Examination Survey (NHANES) in 2009-10, more than 78 million U.S. adults were obese. Similarly, as per World Health Organization (WHO), approximately 2.8 million people die each year due to obesity.
Massive unexplored market in weight management industry and increasing medical tourism in developing economies are creating ample opportunities for the weight management market to grow at a considerable rate during the forecasted period. In addition, the advanced research and development facilities, and innovative product developments by the companies are propelling the growth of the weight management industry.
The weight management market is categorized on the basis of diet and equipment. On the basis of diet, the market can be categorized as meals, supplements, and beverages. Diet leads the market due to increasing prevalence of obese cases, technological advancement and increasing health consciousness of people. The meals can be further segmented as meal replacement, organic food and others; whereas, supplements can be segmented as protein, fiber and others.
On the basis of equipment, the market can be categorized as fitness equipment, and surgical equipment. The fitness equipment includes cardiovascular training equipment and strength training equipment. The cardiovascular training equipment leads the market under fitness equipment category. The surgical equipment further includes minimally invasive surgical equipment and non-invasive surgical equipment. Minimally invasive surgical equipment includes gastric bypass surgery, laparoscopic adjustable gastric banding system, laparoscopic sleeve gastrectomy, and others. Non-invasive surgical equipment includes intragastric balloon systems, endoscopic stapling, endobarrier and others.
Some of the factors driving the growth of the global weight management market are increasing rate of obesity, increasing disposable income, increasing government support, and technological advancements. In addition, increasing prevalence of lifestyle associated diseases, sedentary lifestyle, increasing number of bariatric surgeries, and increasing medical tourism are some of the factors also expected to fuel the growth of the global weight management market in the projected period. However, high cost of low calorie diet, and long term and short term complications associated with bariatric surgery are some of the factors restraining the growth of the global weight management market to some extent.
Geographically, North America will be leading the global weight management market in the coming years, due to increasing prevalence of obesity, increase in childhood obesity, strong government support and funding, and change in lifestyle and junk food habits. In addition, increasing membership of health clubs and technological advancement are also driving the growth of the market in North America. Asia-Pacific is the fastest growing region in the global weight management market. The major reasons for the fastest growth of weight management market in the region are increasing medical tourism, large pool of patients, and increasing healthcare expenditure. Moreover, the weight management market is growing due to increasing awareness of weight management, and refining healthcare infrastructure in the emerging countries, such as India and China, of Asia-Pacific region.
Some of the companies operating in the global weight management market are Amer Sports, Technogym SPA, Weight Watchers International Inc., Ediets.Com Inc., Jenny Craig Inc., Medtronic Inc., Kellogg Company, Brunswick Corporation, Jenny Craig Inc., Atkins Nutritionals Inc., Herbalife Ltd., Apollo Endosurgery Inc., Nutrisystem Inc., Cyber International, Inc., and Johnson & Johnson.