Weight Management Industry Overview

The global Weight Management Market, valued at USD 142.58 billion in 2022, is expected to expand at a CAGR of 9.94% from 2023 to 2030. Market growth is fueled by factors such as the increasing number of bariatric surgeries, the widespread adoption of online weight loss programs, rising disposable income in developing countries, growing government efforts to promote weight management awareness, and the escalating rates of obesity linked to sedentary lifestyles. According to the Institute of Health Metrics and Evaluation, 30.0% of the world's population is classified as obese or overweight, presenting a substantial health challenge across all income levels.

The significant correlation between overweight and obesity and the prevalence of chronic diseases, including diabetes, hypertension, and orthopedic conditions, is a major driver of the weight management industry's growth. The increasing incidence of childhood obesity worldwide, primarily due to poor dietary habits and insufficient physical activity (with hormonal issues being rare), further contributes to this growth. Narayana Health reported that India alone had approximately 14.4 million cases of childhood obesity, ranking second globally.

Detailed Segmentation:

• Function Insights

On the basis of function, the global market has been further categorized into diet, fitness equipment, surgical equipment, and services. The diet segment dominated the market and accounted for the largest share of about 76.30% of the global revenue in 2022. Diet includes meals, beverages, and supplements. Diet is gaining popularity as a solution for weight loss and management in developed as well as developing countries. Meals containing the right amounts of proteins & fibers and a lesser amount of carbohydrates are considered an effective method of weight management.

• Regional Insights

North America is projected to be one of the fastest growing regions with a 10.45% CAGR during 2023-2030 owing to the alarming rise in obesity cases in the U.S. For instance, as per the data of the CDC, obesity prevalence rate in the U.S. for the years 2017-2018 was 42.4%. The growing sedentary lifestyle along with unhealthy eating habits is causing significant growth in the cases of obesity and related health issues.

Gather more insights about the market drivers, restraints, and growth of the Weight Management Market

Key Companies & Market Share Insights

The key participants in the market are devising various strategic initiatives to expand their business footprint and gain a competitive edge in the weight management market. Key players are focusing on strategic initiatives, such as mergers & acquisitions, technological collaborations, partnerships, funding & investments, and innovative product developments & launches to expand their expertise & product portfolio. For instance, in March 2023, Viking Therapeutics recently disclosed the launch of a Phase I clinical research of its weight reduction drugs to assess VK2735, a dual glucagon-like peptide 1 (GLP-1) & glucose-dependent insulinotropic polypeptide (GIP) receptor agonist. Some prominent players in the global weight management market include:

• Herbalife International, Inc.
• NutriSystem, Inc.
• Weight Watchers International, Inc.
• Glanbia PLC
• Atkins Nutritionals, Inc
• Technogym
• Now Health Group, Inc.
• Johnson Health Tech

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