Weight Loss and Obesity Management Market to Expand at a Steady CAGR of 5.2% during 2018-2028 | FMI Reports
The growth of weight loss and obesity management market is attributed
to the rising epidemic of obesity across the globe. According to the
latest research by Future Market Insights (FMI), the global weight loss
and obesity management market is anticipated to reach a valuation of
over US$ 4.9 Bn, by the end of 2028. The weight loss and obesity
management market is expected to expand at a steady CAGR of 5.2%, over
the forecast period of 2018-2028.
Developing Regions More Prone to Obesity & Other Comorbidities
number of cases of obesity and related comorbidities will lead to the
growing adoption of drugs and devices for weight loss and obesity
management, which will further fuel the growth of the global weight loss
and obesity management market during the forecast period.
weight loss and obesity management market is majorly driven by the
rising prevalence of obesity. The rising epidemic of obesity presents a
major challenge to disease prevention across the globe. It is estimated
that by 2030, 38% of the world’s adult population will be overweight and
around 20% will be obese. This obesity epidemic is more prevalent in
the Middle East and the Asia Pacific regions where food import is quite
high. Weight loss and obesity management are helpful in the treatment of
highly critical obesity and comorbidities associated with it, such as
diabetes, asthma, sleep apnea, and hypertension, etc.
health consciousness is also cited as an important factor boosting the
revenue growth of the global weight loss and obesity management market.
Sizeable consumer population in developed regional markets will
particularly continue to generate high demand for weight loss and
obesity management practices, according to the report. Millennial and
Generation-X consumers are gradually adopting advanced aesthetic
services, including weight loss and obesity management, thereby creating
adequate opportunities for manufacturers of weight loss and obesity
management drugs and devices.
Key Vendors Targeting Extension of Product Portfolio
companies operating in weight loss and obesity management market are
majorly focusing on strengthening their product portfolio. Product line
extensions help companies to launch newer products with unique features
for specific indications. This results in an increased market share of
companies in the highly competitive weight loss and obesity management
market. In response to increasing demand from various healthcare
professionals to effectively treat obesity with minimum long-term side
effects, manufacturers are focusing on developing innovative and
Product innovation is expected to boost revenue
and volume growth of the weight loss and obesity management market
during the forecast period. For instance, an additional FDA patents
approval for VIVUS, Inc.’s Qsymia, for the covering compositions of
Qsymia and covering methods for effecting weight loss using Qsymia
(phentermine and topiramate).
However, the high cost involved in
research and development of obesity drugs is a great challenge for the
growth of the weight loss and obesity management market. Additionally,
long gestation time required for research and developmental activities
as well as the need for a number of essential clinical trials to test
drugs adds up to significant expenditure. The limitations posed by high
development cost of anti-obesity drugs might hinder the growth of the
global weight loss and obesity management market. Moreover, the high
cost of surgical procedures, such as gastric bypass surgery, adjustable
gastric banding, gastric sleeve surgery and gastric balloon treatment,
may also affect the growth of the global weight loss and obesity
management market adversely.
The global weight loss and obesity
management market is estimated based on product type, and distribution
sales. Based on product type, the weight loss and obesity management
market has been segmented into drugs and devices.
type segment is further segmented into GLP-1 receptor agonists, lipase
inhibitors, serotonin receptor agonist, a combination drug, and others.
Devices product type segment is further segmented into liposuction
devices, bariatric stapling devices, gastric band, gastric balloon
systems, gastric emptying systems, and gastric electrical stimulation
Devices segment is expected to hold maximum market share
in the global weight loss and obesity management market. Based on
distribution sales, the weight loss and obesity management market has
been segmented into institutional sales and retail sales. In terms of
revenue, institutional sales dominated the global weight loss and
obesity management market in 2017.
Explore Future Market Insights' coverage of the Healthcare, Pharmaceuticals and Medical devices Market:
Market Insights (FMI) is a leading market intelligence and consulting
firm. We deliver syndicated research reports, custom research reports
and consulting services which are personalized in nature. FMI delivers a
complete packaged solution, which combines current market intelligence,
statistical anecdotes, technology inputs, valuable growth insights and
an aerial view of the competitive framework and future market trends.
Mr. Abhishek Budholiya
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
T (UK): +44(0)20-7692-8790
Press Office: Press@futuremarketinsights.com
Source Future Market Insights