The Global Weight Loss and Obesity Management Market, by Product & Services (Drugs, Supplements, Equipment, and Services), by Age Group (Children, Adults, and Geriatric), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 170.0 billion in 2019, and is expected to exhibit a CAGR of 7.1% over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
Increasing prevalence of obesity is expected to drive growth of the global weight loss and obesity management market
Obesity is defined by excessive body fat and higher body mass index. The average BMI index for obesity is above 30 (obese). Obesity is one of the most prevalent disease conditions across the world, and it is prevalent in developed, emerging, and undeveloped regions.
Increasing incidence of obesity is expected to drive growth of the market during the forecast period. According to World Health Organization (WHO) reports published in 2018, the number of obese individual has tripled since 1975 and nearly 41 million children around the world are obese.
Browse 32 Market Data Tables and 28 Figures spread through 175 Pages and in-depth TOC on ‘Weight Loss and Obesity Management Market, by Product & Services (Drugs, Supplements, Equipment, and Services), by Age Group (Children, Adults, and Geriatric), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027”
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Increasing strategic partnerships, and research by key players to enhance their product portfolio are expected to drive growth of the global weight loss and obesity management market over the forecast period. For instance, in May 2019, VIVUS, Inc., a biopharmaceutical company, announced the commencement of phase IV safety and efficacy Qsymia for weight management in obese patients.
Key players in the market are focused on adopting strategies such as acquisitions to expand their product portfolio and geographical presence in the global weight loss and obesity management market. For instance, on June 2019, NovoFit, a global distributor for fitness equipment, entered a strategic partnership with Amer Sports’ leading fitness brand, Precor for product distributorship in Australia. The partnership is projected to increase market positioning of NovaFit and Amer Sports in Australia.
Key Takeaways of the Weight Loss and Obesity Management Market:
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