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Weight Management Market Overview
The global weight management market size is predicted to witness a considerable growth in the coming years. This is due to the surging prevalence of obesity, technological advancements in weight management ingredients, increasing disposable income in emerging economies, rising government initiatives for creating awareness regarding obesity, and growing adoption of online weight loss and management programs. In addition to this, the growing medical tourism, rising number of gastric surgeries, increasing prevalence of lifestyle associated diseases, and sedentary lifestyle are also contributing to the growth of the market.
Beverages, meals, and supplements are the different diet options. Out of these, the beverages category is projected to account for the major weight management market share in the near future. The reason for this is the rising obese population, surging prevalence of diabetes, and increasing consumer awareness regarding low-calorie food and beverages in emerging economies. The meals category is further divided into organic food, meal replacement, and others.
Surgical equipment and fitness equipment are the two equipment types in the weight management market. The fitness equipment category is further divided into strength training equipment and cardiovascular training equipment, between which, the cardiovascular training equipment division held the larger share of the market in the past. The surgical equipment category is divided into non-invasive surgical equipment, which includes endobarrier, intragastric balloon systems, endoscopic stapling, and others, and minimally invasive surgical equipment, which includes laparoscopic adjustable gastric banding system, gastric bypass surgery, laparoscopic sleeve gastrectomy, and others.
Geographically, North America held the largest weight management market share in the past and is projected to lead the market in the coming years as well. This is because of the increasing government funding and support, change in lifestyle, surging consumption of junk food, and rising prevalence of childhood obesity. In addition, technological advancements and rising number of memberships in health clubs are also resulting in the growth of the market. The Asia-Pacific region is expected to witness the fastest growth in the coming years, attributing to the rising medical tourism, growing healthcare expenditure, and large pool of patients.
Weight Management Market Dynamics
The rising number of bariatric surgeries is a major driving factor for the weight management market growth. While before these surgeries were considered as a last resort for people struggling with weight loss, now, due to technological advancements, these surgeries have become less painful. Ascribed to this, weight loss surgeries have become more acceptable in the medical community and are considered as a long-lasting and effective solution than other weight loss techniques. As per the American Society for Metabolic and Bariatric Surgeries, the number of bariatric surgeries performed in the U.S. rose to 196,000 in 2015 from 158,000 in 2001.
The rising prevalence of childhood obesity is projected to open up wide opportunities for the players operating in the weight management market. According to the World Health Organization, in 2014, the number of children (under the age of 5) who were obese was estimated to be more than 41 million. This is due to the increasing number of inactive hours, since children are increasingly spending a large amount of time watching television and playing games on computers. Obese children are more likely to suffer from obesity in their adulthood. This is predicted to contribute significantly to the growth of the market in the near future.
Weight Management Market Competitive Landscape
Some of the major companies operating in the global weight management market include Technogym SPA, Amer Sports, Ediets.Com Inc., Weight Watchers International Inc., Jenny Craig Inc., Kellogg Company, Medtronic Inc., Jenny Craig Inc., Brunswick Corporation, Atkins Nutritionals Inc., Apollo Endosurgery Inc., Herbalife Ltd., Cyber International Inc., Nutrisystem Inc., and Johnson & Johnson.