Weight Loss and Obesity Management Market to Score Past US$ 294.2 Billion Valuation by 2027 | Key players: Novo Nordisk A/S, Takeda Pharmaceutical Company Ltd, Eisai Co., Ltd., F. Hoffmann-La Roche Ltd, VIVUS Inc., Herbalife Ltd.
The Global Weight Loss and Obesity Management Market, by Product & Services (Drugs, Supplements, Equipment, and Services), by Age Group (Children, Adults, and Geriatric), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 170.0 billion in 2019, and is expected to exhibit a CAGR of 7.1% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
Increasing prevalence of obesity is expected to drive growth of the global weight loss and obesity management market.
Obesity can be defined as presence of excessive body fat and higher body mass index. The average BMI index for obesity is above 30 (obese). Moreover, obesity is one of the most prevalent disease conditions, globally, and it has high prevalence in developed, emerging, and undeveloped regions.
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The increasing incidence of obesity, across the globe is expected to drive growth of the market over the forecast period. For instance, according to the World Health Organization (WHO) reports published in 2018, the number of obese individual has tripled since 1975 and around 41 million children, worldwide are obese.
Moreover, key players are focusing on strategic partnerships, and research to enhance their product portfolio and to strengthen their market position are expected to drive growth of the global weight loss and obesity management market over the forecast period. For instance, in May 2019, VIVUS, Inc., a biopharmaceutical company, initiated phase IV of safety and efficacy Qsymia for weight management in obese patients.
Major market players are also focusing on adopting strategies such as acquisitions and partnerships to expand their product portfolio and geographical presence in the global weight loss and obesity management market. For instance, on June 2019, NovoFit, a global distributor for fitness equipment, entered into a partnership with Amer Sports’ leading fitness brand, Precor for product distributorship in Australia. The partnership aimed to increase market positioning of NovaFit and Amer Sports in Australia.
Browse 32 Market Data Tables and 28 Figures spread through 175 Pages and in-depth TOC on ‘Weight Loss and Obesity Management Market, by Product & Services (Drugs, Supplements, Equipment, and Services), by Age Group (Children, Adults, and Geriatric), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2027”
To know the latest trends and insights prevalent in the global Weight Loss and Obesity Management market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/weight-loss-and-obesity-management-market-2797
Key Takeaways of the Weight Loss and Obesity Management Market:
- The global weight loss and obesity management market is expected to exhibit a CAGR of 7.1% over the forecast period, attributed to growing incidence of chronic diseases such as cancer, investments by manufacturers, coupled with increasing product approvals and product launches by market players. For instance, in April 2019, Gelesis, a biotechnology company received the U.S FDA approval for PLENITY for weight management in adults with a body mass index (BMI) of 25 – 40 kg/m2.
- On the basis of product & services, drugs segment is expected to exhibit highest CAGR in the global weight loss and obesity management market over the forecast period. The segment growth is attributed to increasing product approvals and increasing research and development activity For instance, on September 2019, Novo Nordisk received the FDA approvals for its Oral semaglutide (Rybelsus) for treating type 2 diabetes and the drug can aid type 2 diabetes patients to reduce weight.
- On the basis of age group, adults segment is expected to hold dominant position in the global weight loss and obesity management market over the forecast period, attributed to increasing prevalence of obesity. For instance, according to the World Health Organization’s report published in 2018, around 650 million individuals, globally were obese in 2016.
Major market players in the global weight loss and obesity management market include Novo Nordisk A/S, Takeda Pharmaceutical Company Ltd, Eisai Co., Ltd., F. Hoffmann-La Roche Ltd, VIVUS Inc., Herbalife Ltd., Apollo Endosurgery (U.S.), Amer Sports, Brunswick Corporation, Cybex International, Duke Products & Services & Fitness Center, Ethicon Inc., Equinox, Inc., Johnson & Johnson Services, Inc., Kellogg Company, Life Time Fitness Inc., Medtronic, and NutriSystem, Inc.
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