Obesity Management Market Rapid Growth And Trend by 2025
Health Insurance / by Vinit Sawant / 129 views
Obesity management is a set of programs designed to lose weight without causing harm to an individual. Development of new approaches due to sedentary lifestyles led by adults and negative effects of fads have brought to the fore the need to reduce obesity. The global obesity management market report compiled by Market Research Future (MRFR) contains insights, hurdles, measures, and other dynamic factors for the period of 2019 to 2025 (forecast period). The COVID-19 pandemic and its effect on the market has been noted.
The global obesity management market is poised to inflate to a valuation of USD 9.34 billion by 2025. It can exhibit a CAGR of 8.4% over the forecast period.
The lifestyle of convenience, consumption of snacks, large number of obese individuals, and availability of obesity treatment methods are major drivers of the market. According to a study in 2016, out of 2 billion overweight individuals, close to 650 million were found to be obese. The risk of being diagnosed with cardiovascular disease and diabetes due to obesity can provide plenty of growth opportunities to the global obesity management market.
Awareness of obesity management, presence of various healthy diets, option of bariatric surgery, and prevalence of lifestyle diseases can drive the market growth over the forecast period. Public health intervention campaigns endorsed by governments are likely to facilitate in market growth. Furthermore, the presence of nutrition experts and establishment of fitness centers can boost the global obesity management market.
The COVID-19 pandemic has created a massive opportunity for the market owing to people adhering to sedentary lifestyle and ordering in foods. Obesity management can reduce the susceptibility ratio of patients attaining the virus and further the market growth.
The global market for obesity management, by type, is divided into medication and surgery. Moreover, the medication segment is further classified into liraglutide, orlistat, lorcaserin, bupropion and naltrexone, and phentermine and topiramate. Furthermore, the surgery is sub-segmented into laparoscopic adjustable gastric band, gastric sleeve, and gastric bypass.
The Americas dominated the obesity management market owing to the increasing awareness among the masses, the increasing prevalence of obesity, surgical options, weight management medicines, and the growing adoption of advanced technology. According to the Centers for Disease Control and Prevention (CDC), obesity is a major concern in the region and approximately 93.3 million adults were diagnosed with obesity in 2016. The self-isolation during the COVID-19 pandemic is driving people to consume processed foods and increases the risk of metabolic disease. Obesity management programs can help in curbing the obesity pandemic and boost the market growth in the process.
In 2018, Europe accounted for the second-largest share of the market. This can be attributed to the high expendable income levels of consumers and consumption of restaurant food. A new slew of measures by the National Health Services, a government aided healthcare service, is likely to curb obesity with the help of obesity management strategies. This is propagated by ban on Ads promoting sugar drinks, unhealthy foods, and mandates for alcoholic drinks to be displayed with hidden calorific values on menus.
However, the APAC region is expected to grow at the fastest rate in obesity management throughout the forecast period due to rising participation of market players and a large geriatric population.
On the other hand, the MEA obesity management market holds the least share due to the low economic development in Africa.
- Hoffmann-La Roche Ltd, AstraZeneca, Merck Sharp Dohme Corp., Apollo Endosurgery, GlaxoSmithKline plc., Herbalife Ltd., Pfizer Inc., and Ethicon, Inc. are notable players of the global obesity management market.
- Listing ID: 1338