Weight Management Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025
Weight management is an approach to a healthy lifestyle. It includes a balance of healthy balanced diet and physical exercise, to maintain energy intake and energy expenditure. An individual with healthy eating habits can control under-consumption and over-consumption of food. Fad diets that promote fast and temporary weight loss are not included in weight management, rather it focuses on slow weight loss to attain ideal body weight.
Globally, the obese population is increasing, in turn, increasing the incidence of chronic diseases such as musculoskeletal disorders, cardiovascular diseases, hypertension, and diabetes. Treatment of such diseases is highly expensive thus, increasing the demand for weight management programs. According to World Health Organization (WHO) estimation, in 2016, 13% of world’s adult population was obese, particularly 15% of global women and 11% of global men population. From 1975 to 2016, the prevalence rate of obesity almost tripled. This indicates an immense potential for growth of the weight management market.
North America held a dominant position in the global weight management market
Geographically, North America is expected to hold a dominant position in the market owing to increased intake of junk food and improper lifestyle and availability of invasive and non-invasive procedure equipment in the region. The Asia Pacific region is projected to register highest growth during the forecast period. This is primarily due to growing awareness of management of body weight to avoid adverse health effects coupled with emerging medical tourism and healthcare infrastructure in Asia Pacific.
The weight management market is expected to evolve with the development of novel technologies that engage with people more efficiently. In October, 2017, Neurovalens raised around US$ 1.6 million in crowdfunding. Neurovalens is health tech firm, which developed Modius, a headband that stimulates the brain to control metabolism and fat storage, boosting the former, while decreasing the individual’s appetite. Furthermore, StayWell acquired MedHelp’s health engagement platform. The acquisition will help the company to reach 3 million users of the MedHelp Company and will incorporate MedHelp’s Sugar Sense and My Diet Diary apps to its existing diabetes management and weight loss solutions portfolios.
The global weight management market is highly fragmented with several companies operating locally. To increase their footprint in the market, major players are adopting strategies such as new product launches, partnerships, acquisitions, and agreements. In October, 2017, EnteroMedics Inc. acquired ReShape Medical Inc. The acquisition added ReShape Medical’s FDA-approved ReShape Dual Weight Loss Balloon, a minimally invasive intragastric balloon to treat obese people. This product will complement EnteroMedical’s weight loss solutions portfolio. Ortho Molecular Products—manufacturer of supplements and nutraceuticals—selected Nattopharma as its exclusive partner for distribution of its Vitamin K2, during the same month. In August, 2017, Europharma Inc. — the producers of Terry Naturally brand of weight management supplement—introduced its new weight loss product Slim-VX1 in the U.S. The product is the end result of blending ginger with VX1, a French grape seed extract. The product was clinically studied in the U.K and showed boost in metabolism, reduction in fat accumulation and body mass index (BMI), along with reduced food cravings, and enhanced feeling of fullness.
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Some of the key players in the global weight management market include Herbalife International Inc., NutriSystem Inc., EnteroMedical Inc., StayWell Inc., Weight Watchers International Inc., Brunswick Corporation, Ethicon US LLC, Ajinomoto Co. Inc., Abbott Nutrition, eDiets.com, Atkins Nutritionals, McNeil Nutritionals, Duke Diet and Fitness Center, Life Time Fitness Inc., Precor Inc., Fitness First Group, and 24 Hours Fitness.
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