Obesity Treatment Market Size, Status And Forecast 2024
Obesity is a disorder in which excess body fat gets accumulated to such extent that it may have negative effects on health. It occurs over time when people eat more calories than they utilize. The reasons for obesity can be medical problems, inactivity, genetics, family lifestyle, unhealthy diet, medications, age, and pregnancy. Being obese increases the risk of diabetes, heart disease, stroke, arthritis, and some type of cancers.
Obesity treatment basically incorporates a two-step process: assessment and management. Obesity assessment includes determination of the level of obesity and obesity management involves overall maintenance of body weight as well as the systematic weight loss programs.
Government initiatives to increase the awareness about fitness, technological advancements improving the compliance rates of surgeries, and aggressive marketing strategies to attract customers are some of the drivers for the growth of the obesity treatment market.
Factors responsible for restraining the growth of the obesity treatment market are availability of low cost alternatives, high cost of customization, and post-surgical side effects.
The obesity treatment market is segmented based on lifestyle changes, surgical & implant devices, and medication therapy. Lifestyle changes involves dietary changes and exercise. The dietary segment held a significant share in 2015 and is expected to increase during the forecast period. The reasons for the projected growth of the segment might be low cost of therapy, increase in health consciousness among people, and acceptance of the fact that it is easier to lower calorie intake to a greater degree than to burn more calories through increased exercise.
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The surgery & implant devices are further categorized into gastric bypass surgery, gastric balloon, gastric band, electrical stimulation system, and gastric emptying system. Gastric bypass surgery is a fast growing segment in the obesity treatment market owing to factors such as fast recovery time, improved psychological status, and improved longevity. The minimally invasive segment is expected to grow at a higher rate during the forecast period due to its reversible nature, rapid effect, and cost & time effectiveness. It basically involves employing the implant devices in gastric area, which minimizes the incidences of post-operative infections that arise from invasive procedures. It in turn shortens the hospital stays for patients.
In medication therapy, the individual (satiety) drug and combination drug therapy are the two major segments. The combination drug segment in the obesity treatment market captured a large share globally in 2015. It is mainly attributed to the synergistic effect of combined therapy in obesity treatment and rising prevalence of obesity. The satiety drug which provide a feeling of gastric fullness is a fast growing segment in the obesity treatment market. The major reason for the growth is its cost which is lower than that of the combination therapy.
Geographically, the obesity treatment market is segmented into North America, Europe, Asia Pacific, and rest of the world. In 2014, North America accounted for a significant share of the market owing to the rise in childhood obesity rates, strong government support and funding, growth in obese population, increase in membership for health clubs, lifestyle changes, and technological advancements in this region. North America is expected to maintain the level owing to heavy R&D investments deployed to develop rational and effective obesity treatment processes. Asia Pacific is estimated to grow at a high rate due to increase in demand for drugs, commercialization of minimally invasive surgical procedures, and rise in awareness about risks associated with obesity. Moreover, unhealthy diet and sedentary lifestyle are likely to increase the number of obese people during the forecast period.
Key market players operating in the obesity treatment market include NutriSystem, Inc. (U.S.), Kellogg Company (U.S.), Ethicon, Inc. (U.S.), Atkins Nutritionals, Inc. (U.S.), Herbalife Ltd. (U.S.), Covidien plc (U.S.), Apollo Endosurgery (U.S.), Amer Sports (Finland), Johnson Health Technology, Ltd. (Taiwan), Cybex International (U.S.), Olympus Corporation (Japan), Brunswick Corporation (U.S.), and Technogym SpA (Italy). Increase in focus of the market players on gaining FDA approvals to launch new drugs and devices in the obesity treatment market propels the growth of the obesity treatment market exponentially during the forecast period.
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