Weight Management Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Weight Management Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The weight management devices market is projected to register a CAGR of 6.8% during the forecast period. The major factors boosting the overall market are the rising prevalence of a sedentary lifestyle, coupled with dramatically changing diet patterns, particularly in Western countries, majorly contributing to the growth of obesity. The increasing number of bariatric surgeries has also helped in driving the overall market.

With the COVID-19 pandemic, there are massive health problems and economic suffering around the world. The European Association for the Study of Obesity (EASO) had recognized the impact the outbreak could have on people with obesity. It has also been suggested that obesity represents a risk factor for a more serious and complicated course of COVID-19 in adults. However, the fitness industry has been severely affected by the pandemic. The temporary closure of all non-essential businesses, including gyms and health clubs, as mandated by the government in 2020, had disrupted the supply-demand chain for fitness equipment, hindering the overall market.

Additionally, as per a recent study ‘Bariatric Surgery During the COVID-19 Pandemic—the Perspective of Physicians and Patients’, in September 2020, virtual consultation and telemedicine were considered to be suitable to continue weight loss programs, as the risks and complications of morbid obesity and surgery during the COVID-19 pandemic is high. Thus, considering the COVID-19 cases' significant effect on healthcare systems across the region, it is estimated that the market studied is likely to be impacted during the pandemic period.​

Obesity has significantly increased worldwide, especially over the past few decades. Lifestyle disorders are found to have a great influence on the body. Avoiding alcohol, drugs, exercising, and following a healthy diet aid in staying healthy. The Centers for Disease Control and Prevention (CDC) data in 2019 estimated that around 39.8% of American adults were obese. The prevalence rate of obesity increased from 37.7% to 42.4%, and the prevalence of severe obesity had increased from 7.7% to 9.2% between 2013 to 2018 in the United States.

Obesity has been linked to causing many other dreadful diseases and disorders, like cardiovascular diseases, mainly heart disease and stroke; diabetes; musculoskeletal disorders, especially osteoarthritis, a degenerative disease of the joints; and cancer, including endometrial, breast, ovarian, prostate, liver, gallbladder, kidney, and colon. Hence, the growing obese and overweight population is increasing the adoption of the weight management devices market, globally.

Hence, the rising global burden of the obese and overweight population is driving the need for preventive care and is increasing the demand for weight loss and management devices.

Key Market TrendsCardiovascular Training Equipment are Expected to Witness a Healthy Growth in Forecast Period

Cardiovascular training equipment includes a wide range of equipment that involve all cardio-related exercises. Cardiovascular exercises not only have positive effects on the overall health but also have a great impact on memory and learning.

With the COVID-19 pandemic, there was a subsequent shutdown of gyms and health clubs across that has shown less usage of cardiovascular training equipment at gym centers and studios. However, with the closure of the gyms and fitness centers, there was a huge demand for home fitness cardiovascular equipment like treadmills at home. Therefore, this was also found to be effective coping strategies, psychological resources, and regular physical exercise was found to be helpful in dealing with health-related problems during the COVID-19 pandemic.

According to the cardiovascular fitness guidelines from the American College of Sports Medicine 2018, a healthy adult must engage in moderate-intensity cardiovascular exercise for around 150 minutes per week. These exercises help strengthen the heart, increase the number of red blood cells, reduce the number of carbohydrates in muscles, and enhance the overall aerobic metabolism process.

Companies are also aiming to provide cardiovascular solutions that allow clubs and studios to create a variety of combined formats, like cycling, boxing, treadmill running, and strength training. Hence, the market for cardiovascular training equipment is expected to have a positive outlook in the future.

There is also a wide acceptance of treadmills as cardiovascular fitness devices for home exercise and is considered as one of the basic home gym equipment globally. Furthermore, the high growth is due to several factors, such as growing accessibility to gyms, continuous technological developments in equipment, and easy availability of equipment.

North America is Expected to Dominate the Weight Management Devices Market During the Forecasted Period

The market in North America has been growing due to several major factors that have helped increase the weight management devices market. The major factors include the rising prevalence of obesity, increasing sedentary lifestyle, and rising demands for fitness among individuals.

The rising COVID-19 pandemic has shown a negative impact on the market due to the imposed lockdown measures, resulting in the closure of business activities, public places, fitness and activity centers, and overall social life was hampered many aspects of the lives of people, including routine fitness activities of fitness freaks, which has resulted in various psychological issues and serious fitness and health concerns that have seen a reduction in the adoption of the weight management devices.

However, there was a gradual increase in motivation to overcome their dependence on the gym and fitness equipment and continue fitness exercises at home. This has created a huge demand for exercise bikes, treadmills, and rowing machines for home fitness equipment. There was a rising demand that has been particularly high for smart exercise equipment and companies that offer online fitness programs as consumers try to replicate the gym experience at home.

Obesity has continued to be more prevalent within the United States. While two out of every three American men are considered overweight or obese, these rates, in the case of women, are far higher.

According to the Government of Canada data, the number of Canadians who are overweight or obese has increased over the past several years. As of today, approximately 1 in 4 Canadian adults is obese. Currently, one of the most common types of weight loss surgery is gastric banding.

Mexico is also found facing an obesity endemic and ranks the second highest in terms of obesity rate globally as per Global Food Cultures' statistics in 2019. Therefore, the rising pace of obesity and chronic diseases makes it necessary to advocate weight loss programs and obesity management. The rise in health concerns, high income, and technological advancements are driving the expansion of the market.

Moreover, the rising focus among several companies toward providing a connected and immersive fitness experience by integrating digital technologies in machines, along with advancements in AI, cloud, and wearable technology, is augmenting the North American market's growth. For instance, Nautilus Inc., a US-based fitness equipment manufacturer, in 2019, launched a digital platform, JRNY, that utilizes AI to offer customized workouts by automatically adjusting to the user behavior.

Hence, the increasing incidences of obesity and diabetes, sedentary lifestyles, rising disposable income, and increasing awareness about nutrition and healthy lifestyles contribute to driving the weight management devices market.

Competitive Landscape

The weight management devices market is moderately competitive and consists of several major players. In terms of market share, few major players currently dominate the market. With the rising patient awareness levels and increasing obese population, few other smaller players are also expected to enter the market in the coming years. The key players are emphasizing major industry strategies and are taking a few initiatives to maintain a competitive edge in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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Companies Mentioned

Atkins Nutritionals
Cybex International Inc.
Fitness World
Johnson Health Technology Co. Ltd
Life Fitness
Life Time Inc.
Medtronic PLC
Olympus Corporation
Technogym SpA
Apollo Endosurgery

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