Obesity Management Market Expanding at an Impressive CAGR of 5.1%, Valued at US$ 1,362.80 Mn over the period of 2022 to 2032 | Future Market Insights, Inc.
Europe contributes significantly to the obesity management market’s revenue. India dominates the South Asian market with a market share of 60.9% and is expected to grow at a CAGR of 4.8%. Rising healthcare expenditures are expected to strengthen the country’s market
NEWARK, Del, Sept. 09, 2022 (GLOBE NEWSWIRE) — The global obesity management market is projected to reach a valuation of US$ 1,362.80 Mn in 2032, with the market expanding at a moderate CAGR of 5.1% over the forecast period of 2022 to 2032. Valued at an estimated US$ 828.71 Mn in 2022, the obesity management market is driven by the steep incline in the incidences of obesity and obesity related health issues. An escalation in the obese pollution has resulted in high demand for obesity management programmes. This bodes well for the the obesity management market over the forecast period.
With rising number of bariatric surgeries along with an increase in adoption of online weight loss and weight management programmes, growth in the disposable income in emerging economies, sedentary lifestyle and favorable government initiatives, awareness among the obese population has also increased. Along with this awareness, there’s been a notable increase in the demand for obesity management.
In most developed countries with increasing geriatric population, owing to better healthcare facilities and a resultant increased life expectancy, the obesity management market has witnessed a considerable growth. As the elderly population is highly susceptible to gaining noticeable body fat and losing muscle mass and functioning ability, this age group of the population is a major market drive both in the short and long term. Additionally, genetics and medication side effects that lead to obesity also contribute to the market growth.
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In spite of facing positive future market prospects, the target market is not without its share of challenges. High costs of surgeries and drugs coupled with safety issues may hinder the progress of the obesity management market in the global space over the forecast period.
“Prevailing sedentary lifestyle results in a surge in obese population which, in turn, is expected to propel the market growth of obesity management over the forecast period,” says an FMI analyst.
Key Takeaways:
- Rising adoption of weight loss and weight management programs to drive market growth.
- Concerns about the safety of obesity management drugs may hamper the market growth.
- Liraglutide registered the largest market share of 32.4%.
- By surgery type, gastric sleeve surgery is expected to dominate the market.
- The U.S. is expected to maintain a high growth rate over the forecast period.
- The obesity management market in Europe to contribute significantly to the global revenue.
Competitive Landscape
GlaxoSmithKline Plc, VIVUS, Inc., Novo Nordisk A/S, Currax Pharmaceuticals LLC, Cheplapharm Arzneimittel GmbH, Bausch Health Companies Inc., and Takeda Pharmaceuticals, Inc. and others, are some of the major players in the obesity management market that are profiled in the full version of the report.
In a consolidated market, major players are increasing investment in research and development activities for product innovation, development and upgradation of existing products.
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More Insights into the Obesity Management Market Report
In its latest report, FMI offers an unbiased analysis of the global obesity management market, providing historical data and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and range, the market is segmented on the basis of drug type (Bupropion and Naltrexone, Orlistat, Lorcaserin, Phentermine and Topiramate, Liraglutide), surgery type (Gastric Bypass Surgery, Adjustable Gastric Banding Surgery, Gastric Sleeve Surgery, Duodenal Switch Surgery, Others), distribution channels (hospital pharmacies, retail pharmacies, e-commerce), and region.
According to the latest FMI reports, based on region, the obesity management market in North America is predicted to undergo remarkable growth over the assessment period. The regional market is primarily driven the target market’s growth in the U.S. The U.S, is expected to maintain a high growth rate over the assessment period. Growing incidences of obesity and associated diseases coupled with the presence of major market players will drive the market growth in North America.
Apart from North America, Europe and the Asia Pacific are also anticipated considerable growth of the market. Heightened consumption of processed meat is increasing obesity cases in Europe which results in a healthy target market. Asia Pacific is emerging as a lucrative market opportunity for obesity management programs.
Based on segmentation, by drug type, the Liraglutide segment is expected to dominate the market while gastric sleeve surgery will lead the market growth on the basis of surgery type.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusion and Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Method Innovation / Development Trends
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