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Weight Management Market, By Weight Loss Products Type (Dietary Products, Drugs & Supplements, and Cosmetics), By Fitness Equipment Type (Cardio Training Equipment, Strength Training Equipment, Body Composition Analyzers, and Fitness Monitoring Equipment), By Surgical Services Type (Invasive Surgeries, And Non-Invasive Surgeries) - Growth, Future Prospects, And Competitive Analysis, 2016 - 2024

The report titled "Weight Management Market: Growth, Future Prospects, and Competitive Analysis, 2016–2024" offers strategic insights into the overall weight management market along with the market size and estimates for the duration of 2014–2024. The said research study covers an in-depth analysis of multiple market segments based on types of weight loss products, fitness equipment, surgical services, and different geographies.

The weight management market is dynamic, and companies must keep in mind that people are more interested in watching their weight than dieting these days. Hence, the products should be positioned in the market as fitness contributors. The market potential is increasing with the introduction of novel products, treatments, and fitness equipment. According to the World Health Organization (WHO), there are more than 1.4 billion overweight and obese adults aged 20 or older. However, the most worrisome is the growing number of children who are considered overweight around the world.

For the purpose of this study, the global weight management market on the basis of weight loss products is segmented into three categories: dietary products, drugs & supplements, and cosmetics. The dietary products segment is further sub-segmented into low-calorie carbonated drinks, green tea/herbal tea, natural mineral salt drinks, sugar-free confectioneries, low-calorie ice cream, low-calorie ready meals, low-calorie frozen and chilled ready meals, and meal replacements.

The drugs and supplements segment is further sub-segmented into pharmaceuticals, nutraceuticals, and herbal drugs. The cosmetics segment covers the market for slimming creams and serums. Market size estimates and forecasts for these segments for the period 2014–2024 are provided in terms of USD million, along with the respective compounded annual growth rates (CAGRs) for the period 2016–2024, considering 2015 as the base year.

On the basis of fitness equipment type, the global weight management market is segmented as cardio training equipment, strength training equipment, body composition analyzers, and fitness monitoring equipment. The cardio training equipment segment is further sub-segmented as treadmills, ellipticals, rowing machines, stair steppers, and stationary bikes.

The strength training equipment segment is sub-segmented as free weights, single stations, multi stations, plate-loaded equipment, benches and racks, and accessories. Market size estimates and forecasts for these segments for the period 2014–2024 are provided in terms of USD million, along with the respective compounded annual growth rates (CAGRs) for the period 2016–2024, considering 2015 as the base year.

The surgical services market in the global weight management market is segmented into invasive and non-invasive surgeries. The invasive surgery segment is further sub-segmented as bariatric surgery and liposuction. The non-invasive surgery segment is sub-segmented as weight loss balloon systems, fat freezing procedures, AspireAssist, ultrasonic therapy, and Accent XL therapy. Market size estimates and forecasts for these segments for the period 2014–2024 are provided in terms of USD Mn, along with the respective compounded annual growth rates (CAGRs) for the period 2016–2024, considering 2015 as the base year.

The weight management market has been geographically categorized into major regions such as North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Each geography market is further split to provide market revenue for select countries such as the U.S., Canada, the U.K., Germany, China, Japan, Brazil, and the GCC countries. The market size and forecast for these segments during 2014–2024 and their CAGRs for the period 2016–2024 are provided in this report.

The weight management market is observed as the most diversified and competitive, comprising a large number of players providing fitness equipment, surgical services, and weight loss products. Key players in the weight loss management market by product include Atkins Nutritionals, Inc., Herbalife Ltd., NutriSystem, Inc., Kellogg Company, Abbott Nutrition, Mars, Inc., and Unilever. Covidien plc, Olympus Corporation, Ethicon, Inc., and Apollo Endosurgery are some of the major players in the weight loss equipment market.

The fitness equipment market comprises key players such as Brunswick Corporation, Technogym SpA, Amer Sports, Cybex International, and Johnson Health Technology, Ltd. The key players present in the services market include Weight Watchers International, Inc., VLCC Healthcare Ltd., Slimming World, 24 Hour Fitness, Jenny Craig, Equinox, Inc., Duke Diet & Fitness Center, eDiets.com, The Gold's Gym International, Fitness First Group, Town Sports International Holdings, Inc., and Life Time Fitness, Inc.

Based on the type of fitness equipment, the global weight management market is segmented as follows:

Cardiovascular Training Equipment

  • Treadmills
  • Ellipticals
  • Rowing Machines
  • Stair Steppers
  • Stationery Cycles

Strength training equipment

  • Free Weights
  • Single Stations
  • Multi stations
  • Plate Loaded
  • Benches and Racks
  • Accessories
  • Body composition analyzers
  • Fitness Monitoring Equipment

In 2015, it was observed that cardio training equipment accounted for the largest market share in the overall fitness equipment segment due to rising consciousness about maintaining an ideal BMI, rising installation of this equipment at workplaces, hospitals, and homes, and an increasing number of gymnasiums. The cardio training equipment consists mainly of treadmills, ellipticals, rowing machines, stair steppers, and stationary cycles. The market experts suggested that cardio training equipment enhances metabolism, stamina, and conditioning of the heart, lungs, and blood vessels.

This equipment can be used by people of all age groups, and their increasing demand for home use is one of the major drivers assisting their market growth. During the forecast period of 2016–2024, it was observed that the fitness monitoring equipment segment is anticipated to observe exponential growth due to factors such as rising smartphone adoption, high public awareness related to continuous fitness monitoring, and increasing demand for phone-integrated fitness apps and wearable devices. According to market experts, the most popular fitness monitoring equipment is the one with built-in app support and digital pedometers with wireless connectivity.

Based on the type of surgical services, the global weight management market is segmented as follows:

Invasive Surgery

  • Bariatric Surgery
  • Liposuction

Non-Invasive Surgery

  • Weight Loss Balloon System
  • The Fat Freezing Procedure
  • AspireAssist
  • Ultrasonic
  • Accent XL Therapy

In 2015, invasive surgery accounted for the largest market share due to early market introduction and adoption and the high awareness associated with safe invasive surgeries. However, the increasing demand for non-invasive surgeries is expected to restrain the market for invasive surgeries in the near future. The technological development and market introduction of innovative non-invasive surgeries are expected to assist the market's growth in the near future.

Key factors driving the overall non-invasive surgery market are reduced postoperative pain compared to invasive surgery, less blood loss, and reduced scarring pain. According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), more than 2 in 3 adults are considered to be overweight or obese in the U.S., and one-third of children and adolescents ages 6 to 19 are considered to be overweight or obese. Thus, obesity was observed as one of the most common reasons for any lifestyle disease, and rising awareness related to the same is expected to benefit market growth in the long run.

Based on the type of weight loss products, the global weight management market is segmented as follows:

Dietary Products

  • Low-calorie carbonated drinks
  • Green Tea or Herbal Tea
  • Natural Mineral Salt Drinks
  • Sugar-free Confectioneries
  • Low-Calorie Ice-Cream
  • Low-calorie ready meals
  • Low-Calorie Frozen and Chilled Ready Meals
  • Meal Replacement

Medications and Supplements

  • Pharmaceuticals
  • Nutraceuticals
  • Herbal Drugs

Cosmetics

  • Slimming Creams and Serums

Dietary products accounted for the largest market share in 2015, owing to their ease of consumption, ability to be easily stored at work or at home, the fact that they are mostly consumed alongside regular food or as a food replacement, and the rising demand for these dietary products among the young and working population. The market experts suggested that weight loss dietary products possess the peak of convenience for the current lifestyle and diet. It has been observed that consumers are moving away from three meals a day and are giving preference to snacks.

A few consumer opinions suggested that weight loss diets are convenient, affordable, and efficient if accompanied by workouts. The transformational and motivational videos and articles published on social websites and apps were expected to generate the most awareness about weight loss dietary products. However, drugs and supplements were found to be the second largest segment, as many consumers rely on them more than workouts. The side effects associated with several drugs and supplements and the registered fraudulent cases across the world have created an aura of unreliability around this segment.

For the purpose of this study, the global weight management market is categorized into three segments:

  • North America
  • Europe
  • Asia Pacific
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

In the base year 2015, North America accounted for 45.4% and was expected to retain its dominance throughout the forecast period. The key factors assisting the growth of the North American market are the rising obese population, the high awareness generated in the young and working population against weight loss or maintenance, the increasing number of gyms and home exercise equipment, and exposure to motivating information on social networks or mobile apps.

According to the Centers for Disease Control and Prevention (CDC), in the U.S., non-Hispanic blacks have the highest age-adjusted rates of obesity (48.1%), followed by Hispanics (42.5%), non-Hispanic whites (34.5%), and non-Hispanic Asians (11.7%). Obesity is higher among middle-aged adults aged 40–59 (40.2%) and older adults aged 60 and over (37.0%) than among younger adults aged 20–39 (32.3%). During the forecast period of 2016–2024, Asia-Pacific was the fastest growing region due to factors such as a growing economy, a rising standard of living coupled with high awareness associated with obesity and changing lifestyle and food habits that are boosting the rate of obesity in children and teenagers.

In Asia-Pacific, the weight management market is expected to face a few challenges, such as stringent regulations, safety issues related to the products, higher unit prices, and increasing competition with other health and wellness products, especially alternative Chinese and Ayurvedic products.

Frequently Asked Questions:

The market for Weight Management Market is expected to reach USD 314.7 Bn By 2024.

The Weight Management Market is expected to see significant CAGR growth over the coming years, at 6.5%.

The report is forecasted from 2016-2024.

The base year of this report is 2015.

Weight Watchers International, Inc., VLCC Healthcare Ltd., Slimming World, 24 Hour Fitness, Jenny Craig, Equinox, Inc., Duke Diet & Fitness Center are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Dec 2016
Category:  Medical Devices
Report ID:   58297
Report Format:   PDF
Pages:   120
Rating:    4.1 (40)
Delivery Time: 24 Hours to 48 Hours   
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