(I-BusinessNews.Com, July 28, 2021 ) According to market research report Weight Loss Management Market to grow from USD 175.94 billion in 2017 to USD 245.51 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 6.9% during the forecast period.
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The growth of this market is majorly attributed to the growing rate of obesity, increasing prevalence of lifestyle diseases, and increasing number of bariatric surgeries.
The fitness equipment segment is projected to grow at the highest CAGR during the forecast period.
By equipment, the weight loss management market is segmented into fitness equipment and surgical equipment. The fitness equipment segment is estimated to register the highest growth rate during the forecast period. The high growth in this segment can primarily be attributed to the continuous technological advancements in fitness equipment and growing accessibility to gyms.
Beverages segment to dominate the market in 2017
Based on diet, the weight loss and weight management market is segmented into meals, beverages, and supplements. In 2017, the beverages segment is expected to account for the largest share of the weight loss and weight management market. Growth in this segment is majorly driven by the growing diabetic population across the globe.
The Weight Loss Management Market is highly competitive, with the presence of several small and large players. Some of the players operating in this market include Atkins Nutritionals (US), Herbalife (US), Nutrisystem (US), Ethicon (US), Covidien (US), Slimming World (UK), The GoldÃ‚Â’s Gym (US), Duke Diet & Fitness Center (US), Apollo Endosurgery (US), Brunswick (US), Amer Sports (Finland), Johnson Health Technology (Taiwan), Technogym (Italy), Weight Watchers (US), Jenny Craig (US), eDiets.com (US), VLCC Healthcare (India), Equinox (US), Life Time Fitness (US), Fitness First Group (US), and Town Sports (US).
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North America to dominate the weight loss and weight management market
In 2017, North America is expected to dominate the global weight loss management market primarily due to factors such as the increasing incidence of obesity and chronic diseases, rising awareness about nutrition and healthy lifestyles, and growing number of fitness centers in the region. In 2017, Europe is expected to account for the second-largest share of this market. Rising prevalence of obesity and increasing government support and initiatives to tackle obesity-related problems are the major factors supporting the growth of the weight loss management market in this regional segment.
Mr. Aashish Mehra
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Mr. Aashish Mehra