Rise in government initiatives to address overweight issues and increasing development of advanced and effective weight management treatments are among the key factors contributing to market growth
Market Size – USD 8.36 Billion in 2020, Market Growth – CAGR of 16.7%, Market Trends – Technological advancements in healthcare
The global obesity treatment market size is expected to reach USD 27.10 billion by 2028 at a CAGR of 16.7%, according to a new report by Reports and Data. One of the key parameters driving market revenue growth is rising prevalence of obesity due to sedentary lifestyles, unhealthy eating habits, and lack of physical activity. The global market growth is further bolstered by increasing commercial availability of weight-management programs, rising demand for technologically enhanced weight-loss devices and equipment, and rise in government initiatives undertaken to promote awareness about obesity and its adverse health outcomes. Furthermore, growing trends of health and fitness such as gym culture, increasing cosmetic concerns, especially among millennials, increasing inclination towards weight-loss surgeries, and rising healthcare expenditure create market growth opportunities.
Obesity is a medical condition caused by growing size of fat cells in the body. This condition is associated with various health problems including diabetes, cardiovascular disease, high blood pressure and several types of cancer. Some of the major causes of obesity include lack of sleep, physical inactiveness, and excessive consumption of junk food. It is considered that the mainstay of obesity treatment is changes in lifestyle such as adequate diet and physical fitness. Dietary changes, improved physical activity, and behavioral changes are proven to help improve the condition and prevent various obesity-related health issues. In more serious cases, specific weight-loss procedures and medications are prescribed by physicians. Some commonly known FDA-approved weight-loss drugs are orlistat (Xenical, Alli), naltrexone-bupropion (Contrave), phentermine-topiramate (Qsymia), semaglutide (Wegovy), and liraglutide (Saxenda).
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Some Key Highlights in the Report:
- Based on surgery type, the Biliopancreatic Diversion with Duodenal Switch (BPD/DS) segment is the leading segment, with the highest revenue share in the global obesity treatment market in 2020. Increasing prevalence of obesity-related health issues such as high blood pressure, type 2 diabetes, and other medical problems and growing preference for surgical procedures are expected to bolster this segment’s growth in the coming years.
- Based on drug type, the combination drugs segment reached the largest market share in 2020. Surging prevalence of obesity worldwide and introduction of effective combination therapies for weight management fuel this segment’s growth.
- North America accounted for the largest revenue share of 53% in the global obesity treatment market in 2020. Easy availability of minimally invasive procedures, increasing investments in technological innovations, and rise in research & development activities are the key factors driving the North America market growth. The Asia Pacific market is expected to register the highest CAGR of 18% during the forecast period. Growing awareness about the unfavorable health impacts of obesity, advancing healthcare infrastructure, and growing medical tourism are projected to boost market growth in this region.
- The leading players in the global obesity treatment market include Medtronic, Ethicon (subsidiary of Johnson & Johnson), Cousin Biotech, EnteroMedics, Inc., and USGI Medical, Inc. VIVUS, Inc., Arena Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd., Novo Nordisk A/S, and Allergan Plc.
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For the purpose of this report, the global obesity treatment market is segmented on the basis of surgery type, medication type, end-use, and region:
Surgery Type Outlook (Revenue, USD Billion; 2018-2028)
- Biliopancreatic diversion with Duodenal Switch (BPD/DS)
- Adjusting gastric Banding
- Roux-en-Y Gastric Bypass
- Sleeve gastrectomy
- Endoscopic Procedures
Drug Type Outlook (Revenue, USD Billion; 2018-2028)
- Appetite suppressants
- Combination drugs
- Satiety drugs
End-use (Revenue, USD Billion; 2018-2028)
- Beauty institutions
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of the Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of the Middle East & Africa
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