WEIGHT LOSS AND OBESITY MANAGEMENT MARKET ANALYSIS

The global weight loss and obesity management market is estimated to be valued at US$  225.66 billion in 2023 and is expected to exhibit a CAGR of 7.9% during the forecast period (2023-2030).

Analysts’ Views on Global Weight Loss And Obesity Management Market:

Increasing launch of weight loss and obesity management programs is expected to drive the global weight loss and obesity management market over the forecast period. For instance, on May 16, 2023, FOUND, a company dedicated to improving people’s overall wellbeing, announced the launch of Found for Business, a modern, evidence-based approach to obesity care tailored for employers and its workforces.

Figure 1. Global Weight Loss And Obesity Management Market Share (%), by Product & Services, 2023

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Global Weight Loss And Obesity Management Market– Driver

Increasing prevalence of obesity

Increasing prevalence of obesity is expected to drive the weight loss and obesity management market over the forecast period. For instance, according to the reports published by the World Federation of Obesity, roughly 27.4 million children in India will be obese by 2030. This rapid increase in childhood obesity in India is expected to increase demand for weight loss and obesity management techniques during the forecast period.

Figure 2. Global Weight Loss And Obesity Management Market Share (%), by Region, 2023

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Global Weight Loss And Obesity Management Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global weight loss and obesity management market over the forecast period. North America holds 45.1% of the market share due to the increasing prevalence of obesity in the region. For instance, in September 2022, 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.

Global Weight Loss And Obesity Management Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a positive impact on the global weight loss and obesity management market as due to covid restrictions, recreational centers and gyms were shut down and due to which the obesity rates increased. For instance, in January 2022, according to an article published by Frontiers Media S.A., a publisher of peer-reviewed, open access, scientific journals stated that  the weight gain in Europe during the pandemic ranged between 1.5 and 3 kg.

Global Weight Loss And Obesity Management Market Segmentation:

The global weight loss and obesity management market report is segmented into Product & Services, Age Group, and Region

Based on Products & Services, the market is segmented into drugs, supplements, equipment, and services. Out of which, the drugs segment is expected to dominate the weight loss and obesity management market during the forecast period and this is due to the increase in the usage of drugs for the weight loss and obesity management procedure. Based on Age Group, the weight loss and obesity management market is segmented into children, adults, and geriatric. Adult segment is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of obesity in adults.

Among all segmentation, product & services segment has the highest potential due to the increasing launch of weight loss management programs. For instance, in November 2021, WW International, Inc., a company that offers weight loss and maintenance, fitness, and mindset services, announced the global launch of its new PersonalPoints Program which is a revolutionary, truly individualized and livable path to sustainable weight management and healthy living.

Global Weight Loss And Obesity Management Market Cross Sectional Analysis:

In product & services, drugs segment hold a dominant segment in North America region due to the increasing prevalence of obesity. For instance, on June 13, 2023, according to the Forbes Media LLC, a company that offers a range of business magazines and online articles, stated that according to the 2022 State of Obesity report, Africans have the highest rate of obesity in the U.S.-49.9%

Global Weight Loss And Obesity Management Market: Key Developments

• Effective use of weight loss and obesity management products for effective control and management of obesity and weight loss is expected to drive the global weight loss and obesity management market growth over the forecast period. For instance, in July 2022, Herbalife International of America, Inc., a provider of healthcare and nutrition products, launched its new product Fat Release, to support its consumers' healthy and active lifestyles.
• On March 2, 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 June 2021, Novo Nordisk A/S, a global healthcare company, announced that the U.S. Food and Drug Administration (FDA) has approved Wegovy (the brand name for once-weekly semaglutide 2.4 mg injection in the U.S.) for chronic weight management.
• 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.

Global Weight Loss And Obesity Management Market: Key Trends

Increasing approval of weight management therapies is expected to drive the weight loss and obesity management market growth over the forecast period.

Increasing approval of weight management therapies is expected to drive the weight loss and obesity management market growth over the forecast period. For instance, June 2021, Novo Nordisk A/S, a multinational pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) has approved Wegovy (the brand name for once-weekly semaglutide 2.4 mg injection in the U.S.) for chronic weight management.

Global Weight Loss And Obesity Management Market: Restraint

Side effects associated with weightloss and obesity management drugs

The global weight loss and obesity management market can be hindered by side effects associated with the use of weightloss and obesity management drugs. For instance, in June 2021, Phentermine a drug used for weight loss includes side effects such as dry mouth, restlessness, insomnia, and constipation.

Hence, methods to eliminate the side effects associated with weight loss and obesity management drugs can help in driving the growth of global weight loss and obesity management market over the forecast period.

Global Weight Loss And Obesity Management Market- Key Players

Major players operating in the global weight loss and obesity management market include Novo Nordisk A/S, Takeda Pharmaceutical Company Limited, Eisai Co., Ltd., Herbalife International of America, Inc., F. Hoffmann-La Roche Ltd, VIVUS LLC., Apollo Endosurgery, Inc., Duke Products & Services & Fitness Center, Ethicon Inc., Equinox, Inc., Kellogg Co., Life Time Fitness Inc., Medtronic, Nutrisystem, Inc., FOUND, Ro, OptiBiotix Online., PRISTYN CARE, Allurion, WW International, Inc., Amgen Inc., Meiji Holdings Co., Ltd., Boehringer Ingelheim International GmbH, Rhythm Pharmaceuticals, Inc., Altimmune, and Nestlé Health Science.

*Definition: Obesity is a complex, chronic disease with several causes that lead to excessive body fat and sometimes, poor health. Healthcare providers commonly use the Body Mass Index (BMI) to define obesity in the general population. The BMI measures average body weight against average body height. As a generalization, healthcare providers associate a BMI of 30 or higher with obesity.