(PharmaNewsWire.Com, December 02, 2020 ) According to research report Weight Loss Management Market is estimated to reach USD 245.51 Billion by 2022 from USD 175.94 Billion in 2017, at a CAGR of 6.9%.
The growth of this Weight Loss Management Market is majorly attributed to the growing rate of obesity, increasing prevalence of lifestyle diseases, and increasing number of bariatric surgeries.
North America to dominate the weight loss and weight management market
In 2017, North America is expected to dominate the global Weight Loss Management Market primarily due to factors such as the increasing incidence of obesity and chronic diseases, rising awareness about nutrition and healthy lifestyles, and growing number of fitness centers in the region.
In 2017, Europe is expected to account for the second-largest share of this market. Rising prevalence of obesity and increasing government support and initiatives to tackle obesity-related problems are the major factors supporting the growth of the Weight Loss and Weight Management Market in this regional segment.
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.
The key strategies followed by most companies in the weight loss 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).
Recent Developments
• In 2017, Atkins collaborated with Conyers Park (Germany) to form a new holding company, The Simply Good Foods Company. This company is expected to expand its platform through investment opportunities in the snacking space and broader food category.
• In 2016, Atkins signed a partnership agreement with Chef’d to lauch a low carb meal solution for health-conscious consumers
• In 2017, Brunswick Corporation signed a partnership agreement with VirZOOM to launch the VirZOOM solution, which is expected to transform Life Fitness's Discover SE3 bikes into a virtual reality experience
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