Weight Loss and Obesity Management Market Analysis
The global weight loss and obesity management market is estimated to reach US$ 265.4 Bn by 2025, at a CAGR of 9.5% from 2016 to 2025, according to the new research report on Global Weight Loss and Obesity Management Market by Technavio. The growing geriatric population in developing countries, increasing awareness about health and wellness among the consumers, rise in demand for weight loss food products are expected to drive the market during the forecast period (2016β2025). However, strict government regulations regarding their usage may hamper the growth of this market in the coming years.
Executive Summary
The global weight loss and obesity management market is expected to grow at a CAGR of 7.4% during 2014-2019. Growth in demand for weight loss supplements is increasing due to the rise in the prevalence of lifestyle diseases such as diabetes, hypertension, coronary heart disease, etc. The increased prevalence of lifestyle diseases such as diabetes, hypertension, coronary heart disease, etc., worldwide is one of the major factors driving the growth of the weight loss market.
Prevalence of Obesity and Trends
Recently, there has been significant innovation in weight loss solutions which have helped numerous individuals to decrease their weight. Weight loss has become an easy process owing to new research studies and developments in weight management solutions which are readily available in form of pills, supplement shakes, diet programs, exercise equipment, etc. Weight loss is most popular among people belonging to the working-age group as they do not have time for workouts. Henceforth there will be a growth in the adoption of weight management products owing to its simple procedure that does not require any physical efforts or special attention towards healthy eating habits.
Key Players in the Industry
A significant innovation in products, technology, and new product launches have been undertaken by key players such as Abbott Laboratories (U.S.), Amgen Inc. (U.S.), Avon Products Inc. (U.S.), BASF SE (Germany), Bayer AG (Germany), Biogen Idec Inc.(U.S.), Boehringer Ingelheim GmbH & Co KG (Germany), Bristol-Myers Squibb Company(U.S.), CSL Limited(Australia), Curasan Group(France), Eli Lilly and Company(U.S.), GlaxoSmithKline Plc. (UK), Hisamitsu Pharmaceutical Co., Ltd.(Japan), Intarcia Therapeutics, Inc.
Global Weight Loss & Obesity Management Market Analysis
As per PR News Wire, a recent research report by Transparency Market Research (TMR) titled Weight Loss & Obesity Management β Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 β 2021 projects that during the 2015-2021 period global weight loss & obesity management market will exhibit a robust growth of 8.2% CAGR. The increasing prevalence of lifestyle disorders like diabetes and hypertension is expected to fuel demand for weight loss & obesity management drugs across various therapeutic segments over the forecast period. Increasing demand for non-surgical options in the cosmetic surgery segment has increased the number of fat grafting procedures around the globe thereby boosting the market growth. The increased need for non-invasive treatment of obesity is further projected to increase demand over the forecast period.
Porter Five Forces Analysis
It provides detailed information about suppliers, buyers, substitutes, new entrants, etc. of the Weight Loss and Obesity Management market. The major driving force includes significant innovation in product development. Some of them are: CGS-986 is an active ingredient that can enhance weight loss by suppressing appetite through AMPK activation. Orexigen Therapeutics (NASDAQ: OREX) developed a drug candidate that induces satiety in animal models which shows promise for treating obesity with fewer side effects than available drugs. However stringent government regulations act as a barrier to enter into weight loss and obesity management market
Regional Segmentation
Global Weight Loss and Obesity Management market is segmented into North America, Latin America, Europe, Asia Pacific Excluding Japan (APEJ), Japan, and Middle East & Africa (MEA). APEJ was the leading regional market for weight loss and obesity management in 2014, closely followed by North America. The increasing trend of weight loss due to rising medical costs associated with obesity has increased the demand for products. Government regulations regarding weight are also a prime factor fuelling the growth of the weight loss segment. Moreover, consumers living in the APEJ region have strong preferences towards ready-to-use products rather than diet drugs; hence they are preferred over others due to their convenience.
Competitive Landscape
Significant innovation has resulted in an increased number of product launches in the weight loss and obesity management market. These innovations have been mainly focused on controlling sugar intake, reduction of sugar from daily diets, healthy drinks for people to consume instead of sugary drinks, or water enriched with minerals for better health. Continuous innovations have also led to increasing in product demand. Another factor that is influencing the growth of the weight loss and obesity management market is its easy availability. Nowadays, consumers can easily access these products from online stores as well as retail outlets like stores, chemist shops, etc., which makes it more convenient for people across various geographical regions to procure them at an affordable price.
