(PharmaNewsWire.Com, April 12, 2021 ) According to research report the weight loss management market USD 303.81 billion by 2027 from USD 175.94 billion in 2017, at a CAGR of 6.9%. The growth of this market is majorly attributed to the growing rate of obesity, increasing prevalence of lifestyle diseases, and increasing number of bariatric surgeries.
The major factors that are expected to be driving the Weight Loss Management Market are increasing obese population, rise in disposable income in developing economies, sedentary lifestyle, increasing number of bariatric surgeries, growing adoption of online weight loss and weight management programs and increasing government initiatives for creating awareness among obese populations.
The fitness equipment segment is projected to grow at the highest CAGR during the forecast period.
By equipment, the weight loss and weight management market is segmented into fitness equipment and surgical equipment. The fitness equipment segment is estimated to register the highest growth rate during the forecast period. The high growth in this segment can primarily be attributed to the continuous technological advancements in fitness equipment and growing accessibility to gyms.
Beverages segment to dominate the Weight Loss Management Market in 2017
Based on diet, the weight loss and weight management market is segmented into meals, beverages, and supplements. In 2017, the beverages segment is expected to account for the largest share of the Weight Loss Management Market. Growth in this segment is majorly driven by the growing diabetic population across the globe.
The weight loss and weight management market is highly competitive, with the presence of several small and large players. Some of the players operating in the Weight Loss and Weight Management Market include Atkins Nutritionals (US), Herbalife (US), Nutrisystem (US), Ethicon (US), Covidien (US), Apollo Endosurgery (US), Brunswick (US), Amer Sports (Finland), Johnson Health Technology (Taiwan), Technogym (Italy), Weight Watchers (US), Jenny Craig (US), eDiets.com (US), VLCC Healthcare (India), Slimming World (UK), The Gold’s Gym (US), Duke Diet & Fitness Center (US), Equinox (US), Life Time Fitness (US), Fitness First Group (US), and Town Sports (US).
The prevalence of childhood obesity is increasing across the globe owing to factors such as the lack of physical activity and unhealthy eating habits. Cases where childhood obesity is caused due to hormonal problems are very rare. In children, the total number of inactive hours is increasing as they are spending a significant amount of time in front of the television and playing computer games. Overweight or obese children are more likely to be obese in their adulthood and are more prone to suffer from diabetes and CVD at an early age. In 2014, globally, the number of overweight children (under the age of 5) was estimated to be over 41 million (Source: World Health Organization); around half of these children are living in Asia. As a result of this trend, the demand for healthier balanced diets is expected to increase across the globe. This, in turn, will provide significant growth opportunities for players operating in the weight loss and weight management products and services market.
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