NEWARK, Del, July 24, 2024 (GLOBE NEWSWIRE) -- The Weight Loss and Obesity Management Market is expected to be valued at USD 14,511 million in 2024. The market is projected to record a CAGR of 12.8% and reach a valuation of USD 48,396 million by 2034.
The weight loss and obesity management industry is witnessing a significant upsurge in demand, driven by several factors. The rising prevalence of obesity and related health issues such as diabetes, heart disease, and hypertension has led to a surge in demand for weight loss and obesity management solutions.
People are becoming increasingly aware of the health benefits of weight loss and are seeking out weight loss solutions to improve their overall health and reduce their risk of developing serious health issues.
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Changing lifestyle patterns, including sedentary and busy lives, have contributed to the growing demand for weight loss and obesity management solutions. With the increasing demand for such solutions, the industry is expected to witness significant growth in the foreseeable future, providing a promising opportunity for businesses operating in the market.
What Key Factors Are Bolstering Demand For Weight Loss And Obesity Management Products?
“Emergence of New Technologies & Therapies Assisting Market Growth”
- New Product Launches for Weight Loss and Obesity Management Continue to Extend Drug Pipeline
Various big pharmaceutical companies are developing novel anti-obesity drugs for weight loss and obesity management. Obesity is now the most investigated indication by the number of clinical trials. The obesity drugs pipeline consists of 94 trials across all stages of clinical development.
- Government Initiatives Support Efforts to Tackle Obesity
Government organizations serve numerous vital functions in a national public health crisis, including the childhood obesity epidemic. It provides leadership by responding to prevalent obesity as an urgent public health priority and coordinating the public and private sector response.
Despite government policy responses and greater individual responsibility, global obesity levels look set to keep rising. Government regulations and taxes might increase awareness of weight management and put pressure on food and beverage companies to reduce the calorific value of their products.
Key Takeaways from the Weight Loss and Obesity Management Market Report
- The weight loss and obesity management market is estimated to register a CAGR of 12.8% and reach a valuation of USD 48,396 million by 2034.
- The drugs segment is anticipated to dominate the market, holding a 48.60% share in 2024.
- With a 75.70% market share, the institution sales segment is expected to drive growth in the market in 2024.
“The weight loss and obesity management industry is witnessing a surge in demand for personalized programs and non-invasive procedures. With the help of technology, it has become possible to track individual health metrics and create customized programs based on their unique needs. This trend is expected to create significant opportunities in the industry,” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape from the Weight Loss and Obesity Management Market
There are many players vying for a slice of the market, offering a variety of products and services such as weight loss programs, supplements, meal replacements, and fitness equipment. The market has also seen the rise of numerous start-ups and niche players who are introducing innovative solutions to cater to the increasing demand for weight loss and obesity management offerings.
Recent Developments in the Weight Loss and Obesity Management Market
- In 2021, Amgen Inc. disclosed the findings of a Phase 1 clinical trial involving AMG 133, a bispecific molecule created as a GIPR antagonist and GLP-1 receptor agonist that is dependent on glucose levels. The study aimed to determine the effects of this molecule on non-diabetic obese individuals and to evaluate its safety and tolerability, as well as its pharmacokinetic and pharmacodynamics properties.
- In 2021, Novo Nordisk developed a weight-loss drug, semaglutide, that has the ability to enhance the physical function and overall well-being of obese individuals.
Key Players from the Weight Loss and Obesity Management Market
- Atkins Nutritionals, Inc.
- Ethicon US, LLC
- Herbalife Ltd.
- Nutrisystem, Inc.
- Weight Watchers International, Inc.
- Jenny Craig, Inc.
- Apollo Endosurgery, Inc.
- Brunswick Corporation
- Covidien plc
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Which Product Type is Gaining Immense Popularity in Weight Loss and Obesity Management?
“Increasing Number of Bariatric Surgeries Driving Demand for Bariatric Stapling Devices”
After eating, exercise, and other medically advised weight loss programs failed, bariatric procedures/weight loss surgeries were once thought to be the last option for weight loss. Bariatric stapling devices type USD share will increase significantly in the global weight loss and obesity management market.
Many bariatric stapling devices are being used for bariatric surgeries, which help in controlling hunger by electrically stimulating the nerves that control our hunger signals. Bariatric operations have become less painful for patients as a result of recent innovations.
As a result, the medical profession is increasingly accepting these surgeries as a viable and long-lasting alternative to traditional weight-loss methods. Hence bariatric stapling devices are in more demand.
Weight Loss and Obesity Management Market Segmentation
By Product Type:
- Devices
- Liposuction Devices
- Laser-assisted Liposuction Devices
- Radio Frequency-assisted Liposuction Devices
- Ultrasound-assisted Liposuction Devices
- Bariatric Stapling Devices
- Gastric Bands
- Gastric Balloon Systems
- Gastric Emptying Systems
- Gastric Electrical Stimulation Systems
- Drugs
- GLP-1 Receptor Agonists
- Lipase Inhibitors
- Serotonin Receptor Agonists
- Combination Drugs
- Others
By Distribution Channel:
- Institutional Sales
- Hospitals
- Weight Loss Clinics
- Ambulatory Surgery Centers
- Retail Sales
- Retail Pharmacies
- Drug Stores
- Online Sales
By Region:
- North America
- Latin America
- East Asia
- South Asia
- Europe
- Oceania
- MEA
Author by
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Have a Look at the Related Report from the Weight Loss and Obesity Management Market:
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The global companion animal drugs market is forecasted to expand at 4.4% CAGR to reach a market valuation of US$ 59.2 Billion by the end of 2033, up from US$ 36.7 Billion that was recorded for 2022.
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