NEWARK, Del, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Global demand for obesity management market has increased in response to the rising prevalence of obesity and related health problems. The use of obesity management services and solutions is expected to increase gradually at a 5.2% CAGR between 2023 and 2033.
The overall market share is estimated to be worth around US$ 2,095.6 million in the current year 2023. This significant growth is essentially the result of a rise in public and healthcare professional awareness of the significance of tackling obesity and its repercussions. Based on the FMI analysis report, this amount is anticipated to further rise up to US$ 3,494.5 million by 2033.
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According to FMI Analysis, effective obesity management services, and solutions are now necessary due to the increased incidence of obesity worldwide. As a result, businesses that focus on the management of obesity are seeing a large increase in demand for their goods and services. Additionally, several businesses or companies involved in the control of obesity are benefiting financially from this trend toward proactive healthcare management.
Market growth is also getting further aided by the firms that have realized the value of including obesity management services in their employee wellness programs. People are being encouraged to seek professional help in controlling their weight and general health due to rising preventative healthcare knowledge and attention. Also, this pattern is noticeable in industrialized areas where obesity and other lifestyle-related illnesses have become serious public health issues.
The stigma associated with obesity and cultural judgments prevents many clients from getting professional treatment or taking part in programs for managing their weight. Also, the high expense of obesity management programs and treatments may discourage some people from using them, especially in low-income areas or emerging economies.
“In the rapidly evolving landscape of healthcare, the obesity management market is witnessing a surge in innovative solutions aimed at addressing the global epidemic of obesity. With a growing emphasis on preventive measures, medical interventions, and lifestyle modifications, stakeholders in the obesity management market are actively contributing to the development of comprehensive strategies for effective weight management,” opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI).
Key Takeaways:
- The United States is the leading market in the adoption of obesity management strategies and generated around 32.1% of the global revenue share in 2022. Moreover, market players in the United States are making continuous investments in research and development, working with healthcare practitioners, and taking a patient-centric approach.
- Germany is the leading market in the Europe region which had a global market share of 29.5% in the year 2022.
- It is anticipated that demand for obesity management services and solutions in the Asia Pacific region could witness a high CAGR through 2033. For instance, China and India are poised to witness 6.6% and 6.4% CAGRs over the next ten years.
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Competitive Landscape:
The complexity of obesity and the lack of a universally applicable management strategy are two key barriers even for these leading market players. It is difficult to provide solutions that are universally beneficial since each individual may require a treatment plan that is specialized and unique to them.
In recent years the growing percentage of obese people in third-world countries has encouraged many start-ups to adopt the business of obesity management. However, for such emerging players, it could be essential to make sure obesity control treatments are affordable and accessible to increase their impact.
Key Players:
- GlaxoSmithKline Plc.
- VIVUS, Inc.
- Novo Nordisk A/S
- Currax Pharmaceuticals LLC
- Cheplapharm Arzneimittel GmbH
- Bausch Health Companies Inc.
- Takeda Pharmaceuticals, Inc.
Obesity Management Market Size:
| Report Attributes or Data Points | Details |
| Global Obesity Management Market Valuation in 2022 | US$ 1,994 million |
| Estimated Global Market Share in 2023 | US$ 2,095.6 million |
| Forecasted Global Market Size by 2033 | US$ 3,494.5 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 5.2% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 4% CAGR |
Key Segmentation:
By Drug Type:
- Bupropion and Naltrexone
- Orlistat
- Lorcaserin
- Phentermine and Topiramate
- Liraglutide
By Surgery Type:
- Gastric Bypass Surgery
- Adjustable Gastric Banding Surgery
- Gastric Sleeve Surgery
- Duodenal Switch Surgery
- Others
By Distribution Channel:
- Hospitals Pharmacies
- Retail Pharmacies
- E-commerce
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East & Africa (MEA)
- Europe
Authored By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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- Bariatric Surgery Devices Market Growth: The market is growing at a moderate pace with a CAGR of 6.2% during the forecast period 2022 to 2032.
- Weight Loss and Obesity Management Market Forecast: The global market will account for a net worth of US$ 3.68 Billion in 2022, and is predicted to rise at a CAGR of 5.2% over the forecast period to attain a valuation of US$ 4.99 Billion by 2028.
- Weight Management Market Revenue: Exhibiting a CAGR of 7.7%, the global market is expected to garner US$ 725.6 Billion during the forecast period from 2022 to 2032.
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