Weight Loss and Obesity Management Market Share Expand To US$ 294.2 Billion By Top Manufacturers, Latest Technologies, Segments Overview, Future Trends, Growth Opportunity and Forthcoming Developments by 2027
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.
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Increasing prevalence of obesity is expected to drive growth of the global weight loss and obesity management market
Obesity is defined by excessive body fat and higher body mass index. The average BMI index for obesity is above 30 (obese). Obesity is one of the most prevalent disease conditions across the world, and it is prevalent in developed, emerging, and undeveloped regions.
Increasing incidence of obesity is expected to drive growth of the market during the forecast period. According to World Health Organization (WHO) reports published in 2018, the number of obese individual has tripled since 1975 and nearly 41 million children around the world are obese.
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Increasing strategic partnerships, and research by key players to enhance their product portfolio 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, announced the commencement of phase IV safety and efficacy Qsymia for weight management in obese patients.
Key players in the market are focused on adopting strategies such as acquisitions 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 a strategic partnership with Amer Sports’ leading fitness brand, Precor for product distributorship in Australia. The partnership is projected 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, owing to increasing incidence of chronic diseases such as cancer, investments by manufacturers, and product launches. For instance, in April 2019, Gelesis, a biotechnology company received U.S FDA approval for PLENITY for weight management in adults with a body mass index (BMI) of 25 – 40 kg/m2.
- Based on product & services, the drugs segment is expected to exhibit highest CAGR in the global weight loss and obesity management market during the forecast period. This is attributed to increasing product approvals and increasing research and development activity For instance, on September 2019, Novo Nordisk received FDA approvals for Oral semaglutide (Rybelsus) for treating type 2 diabetes and the drug can also be used to help type 2 diabetes patients to reduce weight.
- Among age group, adults segment held dominant position in the global Weight Loss and Obesity Management market, owing to increasing prevalence of obesity. For instance, according to the World Health Organization’s report published in 2018, around 650 million individuals across the globe were obese in 2016.
- Key players operating 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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