The global weight loss and obesity management market is expected to be valued at US$ 14,511 million in 2024. The market is projected to record a CAGR of 12.8% and reach a valuation of US$ 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.
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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.
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.
“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,” says an analyst at FMI.
Key Takeaways from the Market Report:
- The weight loss and obesity management market is estimated to register a CAGR of 12.8% and reach a valuation of US$ 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.
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Competitive Landscape:
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 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 pharmacodynamic 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 Market Players:
- Atkins Nutritionals, Inc.
- Ethicon US, LLC
- Herbalife Ltd.
- Nutrisystem, Inc.
- Weight Watchers International, Inc.
- Jenny Craig, Inc.
- Apollo Endosurgery, Inc.
- Brunswick Corporation
- Covidien plc
Key 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
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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