(PharmaNewsWire.Com, November 19, 2019 ) The weight loss and weight management market is expected to reach USD 245.51 billion by 2022 from USD 175.94 billion in 2017, at a CAGR of 6.9%. Key Players in the Weight Loss and Weight Management Market Focus on New Product Launches and Agreements, Partnerships, and Collaborations as their Key Growth Strategies
Prominent players in the weight loss and weight management market, by diet, include Atkins Nutritionals, Inc. (U.S.), Herbalife Ltd. (U.S.), NutriSystem Ltd. (U.S.), and Kellogg Company (U.S.).
Ethicon, Inc. (U.S.), Covidien plc (U.S.), Apollo Endosurgery (U.S.), and Olympus Corporation (Japan) are some of the prominent players in the equipment market, while Brunswick Corporation (U.S.), Amer Sports (Finland), Johnson Health Technology, Ltd. (Taiwan), Cybex International (U.S.), and Technogym SpA (Italy) are the leading players in the fitness equipment segment.
The prominent players in the services market are Weight Watchers International, Inc. (U.S.), Jenny Craig (U.S.), eDiets.com (U.S.), VLCC Healthcare Ltd. (India), Slimming World (U.K.), The Gold’s Gym International (U.S.), Duke Diet & Fitness Center (U.S.), 24 hours Fitness (U.S.), Equinox, Inc. (U.S.), Life Time Fitness, Inc. (U.S.), Fitness First Group (U.S.), and Town Sports International Holdings, Inc. (U.S.).
The weight loss and weight management market are divided into various segments. Each segment possesses different market players and a different market leader. For instance, the weight loss and weight management by surgical equipment was led by Ethicon, Inc. (U.S.) in 2013. Ethicon is a subsidary of Johnson & Johnson and offers an extensive product portfolio of bariatric surgical equipment and devices such as adjustable gastric band, gastric band dissector, and bladeless trocars. The company significantly invests in R&D to introduce technologically advanced products in the market.
Brunswick Corporation (U.S.) led the weight loss and weight management fitness equipment market in 2013. Brunswick is an innovation-centric company and significantly invests in R&D to maintain its market share. The company leverages its strong brand name and has a strong geographical presence which enables it to gain a competitive edge over other players in the market. The company focuses on adopting both organic and inorganic growth strategies to enhance its market presence.
For instance, in March 2014, the company introduced RS1 and RS3 recumbent bikes which can be used for all fitness levels—from active exercisers to athletes. These bikes are also adaptive with Life Fitness Go and Track+ Console devices. Furthermore, in June 2014, Brunswick Corporation (Life Fitness (U.S.)) entered into a strategic partnership with SI LINE for the distribution of its products in Italy. This partnership enabled the company to strengthen its distribution network in the European markets.
The key strategies followed by most companies in the weight loss and weight management market are new product launches; acquisitions; agreements, partnerships, and collaborations; and expansions. New product launches accounted for the largest share of the overall growth strategies mapped from 2012 to 2015. Some of the leading players that adopted this strategy are Atkins Nutritionals, Inc. (U.S.), Nutrisystem, Inc. (U.S.), Herbalife, Ltd. (U.S.), Ethicon, Inc. (U.S.), Brunswick Corporation (U.S.), Cybex International, Inc. (U.S.), Johnson Health Tech. Co., Ltd. (Taiwan), Technogym SPA (Italy), Weight Watchers International, Inc. (U.S.), Covidien plc (U.S.), eDiets.com (U.S.), Kellogg Company (U.S.), and Amer Sports (Finland).
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