Weight management is an approach to a attaining and maintaining a healthy lifestyle. Weight management includes a healthy balanced diet and physical exercise, to maintain energy intake and energy expenditure. An individual with healthy eating habits can control under-consumption and over-consumption of food. Fad diets that promote fast and temporary weight loss are not included in weight management, rather such management programs focuses on slow weight loss to attain ideal body weight.
Globally, the obese population is increasing, in turn, increasing the incidence of chronic diseases such as musculoskeletal disorders, cardiovascular diseases, hypertension, and diabetes. Treatment of such diseases is highly expensive thus, increasing the demand for weight management programs. According to World Health Organization (WHO) estimation, in 2016, 13% of the world’s adult population was obese, particularly 15% of women and 11% of men population globally. From 1975 to 2016, the prevalence rate of obesity almost tripled. This in turn, is expected to create immense potential for growth of the weight management market.
Global Weight Management Market Taxonomy
On the basis of product type, the global weight management market is segmented into:
North America held a dominant position in the global weight management market
Geographically, North America is expected to hold a dominant position in the market, owing to increasing intake of junk food and improper lifestyle among the populace in the region. Asia Pacific is projected to register highest growth during the forecast period. This growth is primarily attributed to growing awareness of management of body weight to avoid adverse health effects among the populace coupled with emerging medical tourism and healthcare infrastructure in the region.
The weight management market is expected to evolve with the development of novel technologies. For instance, in 2017, Neurovalens raised around US$ 1.6 million in crowdfunding. For the development of Modius, a headband that stimulates the brain to control metabolism and fat storage, boosting the former, while decreasing the individual’s appetite. Furthermore, StayWell acquired MedHelp’s health engagement platform. The acquisition helped the company reach 3 million users of the MedHelp Company and incorporate MedHelp’s Sugar Sense and My Diet Diary apps to its existing diabetes management and weight loss solutions portfolios.
The global weight management market is highly fragmented with several companies operating locally. To increase their footprint in the market, major players are adopting strategies such as new product launches, partnerships, acquisitions, and agreements. In October, 2017, EnteroMedics Inc. acquired ReShape Medical Inc. The acquisition added ReShape Medical’s FDA-approved ReShape Dual Weight Loss Balloon, a minimally invasive intragastric balloon to treat obese people. This product will complement EnteroMedical’s weight loss solutions portfolio. Ortho Molecular Products—manufacturer of supplements and nutraceuticals—selected Nattopharma as its exclusive partner for distribution of its Vitamin K2, during the same month. In August, 2017, Europharma Inc.—the producers of Terry Naturally brand of weight management supplement—introduced its new weight loss product Slim-VX1 in the U.S. The product is the end result of blending ginger with VX1, a French grape seed extract. The product was clinically studied in the U.K and showed boost in metabolism, reduction in fat accumulation and body mass index (BMI), along with reduced food cravings, and enhanced feeling of fullness.
Some of the key players operating in the global weight management market include Herbalife International Inc., NutriSystem Inc., EnteroMedical Inc., StayWell Inc., Weight Watchers International Inc., Brunswick Corporation, Ethicon US LLC, Ajinomoto Co. Inc., Abbott Nutrition, eDiets.com, Atkins Nutritionals, McNeil Nutritionals, Duke Diet and Fitness Center, Life Time Fitness Inc., Precor Inc., Fitness First Group, and 24 Hours Fitness.