NEWARK, Del, July 12, 2022 (GLOBE NEWSWIRE) – The global weight management market is expected to secure US $ 725.6 billion while recording a CAGR of 7.7% during the forecast period from 2022 to 2032, according to a recently published market research report by Future Market Insights. The increasing adoption of a sedentary lifestyle is expected to drive the global weight management market.
According to the Institute of Health Metric and Evaluation, 30% of the world’s population is obese. Obesity is one of the major health challenges in developed and developing countries. It is also expected that the increasing volume of bariatric surgery and increasing acceptance of online weight loss and management programs will positively impact the industry during the forecast period.
The growing prevalence of obesity among the growing population is expected to drive market expansion during the forecast period. According to the World Obesity Atlas 2022, one billion people worldwide, including 1 in 5 women and 1 in 7 men, will be living with obesity by 2030. This significant increase in the number of obese patients is expected to drive the demand for an effective weight management system. Furthermore, growing awareness of weight management and obesity among developing countries is expected to drive market growth in the coming period.
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Increasing strategic collaboration of players with each other is expected to drive market growth during the forecast period. In September 2019, Currax Pharmaceutical announced the acquisition of Nalpropion Pharmaceuticals. This acquisition led to the addition of Contrave Obesity Medication to Currax’s product portfolio. Similarly, in November 2019, Novo Nordisk partnered with UNICEF to prevent children from becoming obese. Such partnerships between players are expected to benefit industry growth during the forecast period.
Lack of awareness regarding obesity and the inability to afford premium health club membership among developing countries is expected to negatively impact the market in the coming period. According to IQVIA, only 2% of the total obese population is treated with prescribed medication. Furthermore, the presence of a limited number of market players is another cause that hinders the expansion. However, rising disposable income and increasing awareness of the alternatives to weight loss and management may drive market growth in the forecast period.
Key takeaways from the market study
- Weight management market to secure US $ 725.6 billion during the forecast period from 2022 to 2032.
- According to equipment, the fitness equipment segment is expected to expand during the forecast period at a CAGR of 7.6%.
- The weight management market will be dominated by the US while raising US $ 250 billion by 2032
- China’s weight management industry is expected to expand at the highest CAGR of 6.8% during the forecast period
- Japan’s weight management market is expected to reach US $ 41.1 billion by 2032
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“Increasing cases of obesity and the growing health concerns among baby boomers are expected to support market expansion in the near future,” notes an analyst at FMI.
Key players in the industry include Herbalife Nutrition Ltd., NutriSystem, Inc., Weight Watchers International, Inc., eDiets.com, Inc., and Brunswick Corporation. Major developments in the market are:
- In June 2022, Herbalife Nutrition entered into a sports nutrition partnership with Notre Dame shooter Blake Wesley, who trained at the Herbalife Nutrition IMPACT Basketball Center.
- In January 2021, Herbalife Nutrition, a leading nutrition company, announced that it had entered into an agreement to repurchase approximately US $ 600 million of the company’s ordinary share owned by Carl C. Icahn and some of its affiliates against ‘ a price of US $ 48/05 per share.
- In December 2020, Kainos Capital, a company specializing in the management of food and consumer businesses, completed the acquisition of Nutrisystem by Tivity Health for US $ 575 million. The private Capital Group of MSD Partners, MP has entered into a partnership with Kainos Capital in the transaction in the form of preferential and ordinary equity investment.
More valuable insights
Future Market Insights, in its new offering, offers an unbiased analysis of the global weight management market, with a historical analysis from 2015 to 2021 and forecast statistics for the period 2022-2032.
The study reveals essential insights based on diet (Meals, drinks, supplements), equipment (fitness equipment, surgical equipment), services (fitness centers, slimming centers, consulting services, online weight loss services) and region (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America).
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Key segments profiled in the Global Weight Management Market Report
Global weight management market by diet:
- Weight management meals
- Weight management drinks
- Weight Management Supplements
Global weight management market by equipment:
- Weight management fitness equipment
- Weight Management Surgical Equipment
Global weight management market by services:
- Weight management over fitness centers
- Weight management over slimming centers
- Weight Management Consulting Services
- Weight management through online weight loss services
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1. Executive Summary
1.1. Global market outlook
1.2. Summary of Statistics
1.3. Key features and attributes
1.4. Analysis and recommendations
2. Market overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Restrictions
3. Market risks and trends assessment
3.1. Risk assessment
3.1.1. COVID-19 crisis and impact on weight management demand
3.1.2. COVID-19 impact measure with previous crisis
3.1.3. Impact on market value (US $ Mn)
3.1.4. Assessment by key countries
3.1.5. Assessment by key market segments
3.1.6. Action points and recommendation for suppliers
3.2. Key trends affecting the market
3.3. Formulation and product development trends
4. Mark Background
4.1. Weight Management Market, by Key Countries
4.2. Weight Management Market Opportunity Assessment (US $ Mn)
4.2.1. Total available market
4.2.2. Serviceable Address Market
4.2.3. Serviceable Available Market
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About the healthcare division at Future Market Insights
The healthcare team at Future Market Insights provides expert analysis, time-efficient research and strategic recommendations with the aim of providing authentic insights and accurate results to help clients worldwide. With a repertoire of more than 100+ reports and 1 million + data points, the team has been analyzing the industry clearly in 50+ countries for more than a decade. The team provides a brief analysis of key trends, including competitive landscape, profit margin, and research development efforts.
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