Weight Loss and Obesity Management Market Forecasts to 2030 – Global Analysis By Product Type (Drugs, Devices and Other Product Types), Age Group (Under 18 Years, 18 To 35 Years, 35 To 50 Years and Above 50 Years), Equipment (Cardiovascular Training Equip

Weight Loss and Obesity Management Market Forecasts to 2030 – Global Analysis By Product Type (Drugs, Devices and Other Product Types), Age Group (Under 18 Years, 18 To 35 Years, 35 To 50 Years and Above 50 Years), Equipment (Cardiovascular Training Equipment, Fitness Equipment, Strength Training Equipment, Surgical Equipment and Other Equipments), Service, Distribution Channel, End User and By Geography

According to Stratistics MRC, the Global Weight Loss and Obesity Management Market is accounted for $282.9 billion in 2023 and is expected to reach $554.9 billion by 2030 growing at a CAGR of 10.1% during the forecast period. Technologies and drugs that assist obese or overweight people in losing weight or maintaining their weight are included in the weight loss and obesity management market. Fundamentally, obesity is a long-term medical condition characterized by abnormal fat deposition and accumulation in the body. The Body Mass Index, or BMI, is used to compute it. Some of the methods used to address weight loss and obesity include medications, exercise, nutritional supplements, and weight reduction surgery.

According to a report published by Trust for America's Health, a health policy organization, in 2021, the nation’s obesity crisis found that 19 states have obesity rates over 35 percent in U.S.

Market Dynamics:

Driver:

Increasing obesity rates

With a surge in sedentary lifestyles, unhealthy dietary habits, and environmental factors conducive to weight gain, the prevalence of obesity has reached alarming levels. As individuals become increasingly aware of the health risks associated with obesity, including cardiovascular diseases, diabetes, and certain types of cancer, there is a growing demand for effective weight management solutions. This demand fuels the development and adoption of various interventions, ranging from lifestyle modification programs to pharmaceuticals and surgical procedures.

Restraint:

High costs

The expenses associated with weight loss programs, including medications, surgery, counseling, and specialized diets, can pose a barrier to individuals seeking help, particularly those with lower incomes or inadequate health insurance coverage. The financial burden of these interventions often deters individuals from pursuing professional assistance or adhering to prescribed treatment plans. However, the lack of comprehensive insurance coverage for weight loss services further exacerbates the issue, leaving many individuals unable to afford essential treatments. As a result, disparities in access to care widen, perpetuating inequalities in health outcomes related to obesity.

Opportunity:

Technological advancements

Innovative technologies offer diverse solutions, ranging from wearable fitness trackers and mobile applications to advanced surgical techniques and pharmaceutical interventions. These advancements enable personalized and precise strategies for weight loss and obesity management, catering to individual needs and preferences. Digital health platforms provide real-time monitoring, data analysis, and behavior tracking, empowering individuals to make informed decisions about their health and lifestyle choices.

Threat:

Lack of effective long-term solutions

While numerous weight loss interventions exist, sustaining weight loss over the long term remains a significant challenge for many individuals. Fad diets, supplements and temporary lifestyle changes often yield initial results, but they frequently fail to provide lasting benefits. This lack of sustained efficacy undermines consumer confidence and hinders the growth of the market. Moreover, obesity is a complex condition with multifactorial causes, including genetic, environmental, and behavioral factors, making it difficult to develop universally effective treatments.

Covid-19 Impact:

Lockdowns, restrictions on movement, and social distancing measures led to disrupted routines, reduced physical activity, and increased sedentary behavior among populations worldwide. Stress, anxiety, and uncertainty further contributed to unhealthy eating habits and weight gain for many individuals. Conversely, some individuals used the pandemic as an opportunity to prioritize their health and focus on weight loss goals. Telehealth and virtual consultations surged in popularity, enabling remote access to healthcare professionals and weight management programs.

The fitness equipment segment is expected to be the largest during the forecast period

Fitness Equipment segment is expected to hold the largest share during the forecast period. With the rising awareness of the health risks associated with obesity, there's an increasing demand for convenient and effective ways to manage weight. Fitness equipment such as treadmills, stationary bikes, elliptical trainers, and weight lifting machines provide users with versatile options for engaging in physical activity tailored to their preferences and abilities. This accessibility and versatility of fitness equipment empower individuals to take proactive steps towards achieving their weight loss goals, thereby driving growth within the market.

The slimming centers segment is expected to have the highest CAGR during the forecast period

Slimming Centers segment is positioned to witness the profitable growth throughout the overcast period as it offers personalized, comprehensive programs tailored to individual needs, including diet plans, exercise routines, and often, medical supervision. With rising awareness about health and fitness, coupled with the increasing prevalence of obesity, more people are turning to slimming centers for professional guidance and support in achieving their weight loss goals.

Region with largest share:

Asia Pacific region dominated the largest share of the market throughout the estimated period. As awareness grows regarding the adverse effects of obesity on health, individuals are seeking tailored solutions that cater to their specific needs and circumstances. Personalized healthcare approaches, such as genetic testing, customized diet plans, and targeted exercise regimens, are gaining traction as they offer more effective and sustainable results compared to generic treatments. Moreover, wearable fitness devices and mobile health apps, empower individuals to monitor their progress and make informed decisions about their health journey.

Region with highest CAGR:

Europe region is poised to hold lucrative growth over the projection period. As individuals in these regions attain higher levels of income, they tend to prioritize health and wellness, including efforts to manage weight and combat obesity. This burgeoning demand has had a notable impact on the European market for weight loss and obesity management products and services. European companies in this sector are capitalizing on the opportunity by expanding their operations and distribution networks to cater to the growing demand from developing countries. As a result, these elements are boosting the regional growth.

Key players in the market

Some of the key players in Weight Loss and Obesity Management market include Allergan Plc, Allurion Technologies Inc, Amgen Inc, Apollo Endosurgery, Inc, Aspire Bariatrics, Eisai Co., Ltd, F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc, Herbalife International of America, Inc, Medtronic, Novo Nordisk A/S, ReShape Lifesciences, Inc, Rhythm Pharmaceuticals, Inc and Takeda Pharmaceutical Company Limited.

Key Developments:

In March 2023, PRISTYN CARE, a healthcare service provider, announced that it has entered into a strategic partnership with Allurion, a company developing a medical device for weight loss, in order to offer a weight-loss and obesity care platform.

In December 2022, Amgen Inc., announced new Phase 1 data from AMG 133, a novel bispecific glucose-dependent insulinotropic polypeptide receptor (GIPR) antagonist and glucagon-like peptide-1 (GLP-1) receptor agonist molecule. This first-in-human study was designed to evaluate the safety, tolerability, pharmacokinetic, and pharmacodynamic effects of AMG 133 in people with obesity and without diabetes.

Product Types Covered:
• Drugs
• Devices
• Other Product Types

Age Groups Covered:
• Under 18 Years
• 18 To 35 Years
• 35 To 50 Years
• Above 50 Years

Equipments Covered:
• Cardiovascular Training Equipment
• Fitness Equipment
• Strength Training Equipment
• Surgical Equipment
• Other Equipments

Services Covered:
• Consulting Services
• Slimming Centers
• Fitness Centers
• Online Weight Loss Programs
• Other Services

Distribution Channels Covered:
• Retail Sales
• Pharmaceutical Stores
• Hypermarket/ Supermarket
• Other Distribution Channels

End Users Covered:
• Hospitals
• Ambulatory Surgery Centres
• Weight Loss Clinics
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances