Pune, India, September, 2022 /press release/- Market Research Future Published a Half-Cooked Research Report on Obesity Management Market Research Report.
The Obesity Management Market is expected to reach USD 268.70 Billion by 2030 at 9.20% CAGR during the forecast period 2022-2030. Obesity refers to the illness in one’s body in which the body gain excess fat, and that can affect the health negatively. Obesity leads to diseases such as hypertension, diabetes, heart disease, and several others. According to the World Health Organization, over 41 million children under the age of 5 were suffering from overweight, and 600 million adults were suffering from obesity back in 2014.
Drivers Impacting the Market
The global obesity management market is expanding at a swift pace owing to the growing patient population and research and development activities done by the market players. For instance, researchers at the University of Liverpool had helped to introduce a new treatment for obesity in 2015. With the growing initiatives by the market players in collaboration with the government to raise awareness about the adverse impact of obesity on health, the market is expected to stimulate over the assessment period. The growing awareness of weight management techniques is also likely to augment the global market during the forecast period. Moreover, with the growth in nuclear families and the rising working population, there has been an increasing demand for inexpensive fast food and easily accessible takeaway meals which are predicted to trigger the market growth in the coming years.
On the flip side, availability of low-cost alternatives, post-surgical side effects, and high cost of customization are the major factors restraining the market growth during the assessment period.
Global Obesity Management Market: Segmental Analysis
The global obesity management market has been segmented on the basis of prescription weight-loss medication, surgery, end-user, and region.
By mode of prescription weight-loss, the global obesity management market has been segmented into lorcaserin (Belviq), orlistat (Xenical), bupropion and naltrexone (Contrave), phentermine and topiramate (Qsymia), liraglutide (Saxenda), and others.
By mode of surgery, the market has been segmented into laparoscopic adjustable gastric banding (LAGB), gastric bypass surgery, biliopancreatic diversion with duodenal switch, and others. Among these, the segment for gastric bypass surgery is predicted to be the fastest growing market due to factors such as improved psychological status, faster recovery time, and improved longevity.
By mode of end-user, the market has been segmented into exercise, dietary changes, and others.
Geographically, the obesity management market spans across regions namely, North America, Europe, Asia Pacific, and Rest-of-the-World.
Among all the regions, the Asia Pacific region is believed to grow at a rapid pace due to lack of physical activity, poor diet, and unhealthy life balance. The government in this region is focusing on advanced treatment and latest technologies, thus initiating new R&D programs for development of new drugs. Moreover, countries like India and China are focused on market players due to growing purchasing power and huge patient population compared to other countries in this region.
North America is anticipated to be the largest market for obesity management globally due to the high presence of obesity population and developed treatment options. For instance, according to CDC, over 37.9 % of adults were suffering from obesity between 2013 and 2014 and over 70.7% of adults aged 20 years and above were suffering from overweight.
A team led by researchers from the University of Washington, Seattle, used Artificial intelligence (AI) technology to scan through Google Maps images to estimate obesity on Earth. The team downloaded around 150,000 high-resolution Google Map satellite images of in four cities such as Memphis (Tennessee), Los Angeles (California), Seattle (Washington State), and San Antonio (Texas).
The major players operating the global market for obesity management are Merck Sharp & Dohme Corp., a subsidiary of Merck & Co. Inc. (US), Pfizer Inc. (US), GlaxoSmithKline Plc. (UK), F. Hoffmann-La Roche Ltd (Switzerland), Herbalife Ltd. (U.S.), AstraZeneca (UK), Apollo Endosurgery (U.S.), Ethicon, Inc. (U.S.), and others.