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The weight management devices market size is valued to increase by USD 5.21 billion, at a CAGR of 6.78% from 2023 to 2028. Growing obese population will drive the weight management devices market.
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The market encompasses a range of technologies designed to assist users in monitoring and managing their weight and overall health. Heart rate variability analysis and user-friendly interface design are key features of these devices, with smartphone integration enabling real-time data access and synchronization via cloud technology. Sensor precision in waist circumference measurement and calorie tracking apps ensures accurate data, leading to improved metabolic rate monitoring and weight loss program effectiveness. Smart scales technology provides users with fat mass percentage, lean body mass, and other body composition analysis data. Sleep duration monitoring and nutritional assessment tools offer insights into sleep quality and dietary intake, while metabolic rate monitoring and exercise adherence tracking facilitate ROI improvement by aligning with weight loss goals. Data security measures ensure compliance with privacy regulations and protect sensitive health information. Algorithm accuracy in obesity risk assessment and dietary guidelines adherence is crucial for long-term weight management success. Gamification techniques and wearable fitness trackers with data visualization dashboards and activity tracker sensors engage users and promote behavioral modification strategies. Energy expenditure data and personalized weight goals enable users to optimize their physical activity levels and achieve sustainable weight loss.
The expanding population with an increasing prevalence of obesity serves as the primary market driver.
The integration of digital technologies is becoming a prominent trend in the development of weight management devices. Digital technologies, such as mobile applications, sensors, and connectivity, are increasingly being incorporated into weight management devices to enhance user experience and effectiveness.
The presence of risk factors linked to bariatric surgeries poses a significant challenge to the growth of the industry. These risks, which include complications such as infection, bleeding, and nutritional deficiencies, require careful management and mitigation strategies to ensure patient safety and satisfactory outcomes.
The weight management devices industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The fitness equipment segment is estimated to witness significant growth during the forecast period.
The market continues to evolve, with fitness equipment leading the charge in 2023. This segment, comprising cardiovascular training equipment, strength-building equipment, fitness-monitoring devices, and other weight management tools, accounts for a significant market share. The increasing prevalence of obesity and related health issues, such as diabetes and cardiovascular diseases, fuels this segment's growth. Fitness equipment manufacturers offer advanced features like heart rate variability monitoring, user interface design, smartphone integration, and weight management apps. These tools enable waist circumference measurement, calorie tracking, metabolic rate monitoring, and weight loss programs, among others. Additionally, sleep duration monitoring, nutritional assessment tools, smart scales technology, and exercise adherence tracking are becoming increasingly popular.
companies prioritize data security measures, ensuring user privacy. With features like fat mass percentage, lean body mass, dietary intake monitoring, algorithm accuracy, obesity risk assessment, and sleep quality assessment, these devices offer personalized weight goals and progress tracking. Gamification techniques, wearable fitness trackers, data visualization dashboards, activity tracker sensors, and behavioral modification strategies further enhance user experience. Energy expenditure data, physical activity levels, and dietary guidelines adherence are key metrics for assessing effectiveness.
The Fitness equipment segment was valued at USD 6.19 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 41% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is experiencing significant growth, with North America leading the charge. In 2023, this region accounted for the largest market share, driven by increasing consumer focus on healthier lifestyles and escalating obesity concerns. The United States is the primary market driver due to its larger population and higher obesity rates, with over 40% of adults classified as obese according to the Centers for Disease Control and Prevention (CDC) in 2022.
Canada's market is also expanding, albeit more gradually, as awareness of weight management devices' benefits spreads. The market's evolution is fueled by the growing recognition of the health risks associated with obesity and the potential for these devices to improve overall wellbeing and operational efficiency.
Customer Landscape of Weight Management Devices Industry
Companies are implementing various strategies, such as strategic alliances, weight management devices market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
AbbVie Inc. - The subsidiary company Allergan Aesthetics, under the umbrella of a leading industry player, provides advanced fat reduction solutions. Their flagship product, CoolSculpting Elite, utilizes innovative technology with targeted applicators to freeze and eliminate fat cells, offering effective weight management. This non-surgical system is a game-changer in the aesthetic industry.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Weight Management Devices Market insights. See full methodology.
Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market growth 2024-2028 |
USD 5210.8 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Key countries |
US, China, UK, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
"Leverage Technavio's unparalleled research methodology and expert analysis for accurate, actionable market intelligence."
The market encompasses a range of technologies designed to assist individuals in achieving and maintaining a healthy weight. Accuracy is a critical factor in the success of wearable weight tracking devices, ensuring they provide reliable data for users to monitor their progress. Sleep, an essential component of overall health, is increasingly being integrated into weight management apps to help users understand its impact on weight loss. Gamified weight loss programs, with their competitive elements and rewards, have shown effectiveness in engaging users and promoting long-term behavior change. Dietary tracking, another essential feature, allows users to monitor their caloric intake and make informed decisions about their food choices. Integration of activity trackers with weight management apps offers a more comprehensive view of users' health and fitness. Comparing different body composition analysis methods, such as bioelectrical impedance analysis and air displacement plethysmography, is crucial for selecting the most accurate and cost-effective solution for weight management. Personalized weight loss goals, based on individual health profiles and lifestyle factors, increase the chances of successful weight loss. Exercise intensity plays a significant role in weight management, and weight management devices and apps can help users optimize their workouts for maximum impact. Remote patient monitoring offers benefits for weight loss, enabling healthcare professionals to provide personalized guidance and support. Maintaining long-term weight loss remains a challenge for many, and the development of effective weight loss interventions is an ongoing priority. Data privacy considerations are essential in weight management apps, with user trust being a key business function. Validation of weight management device algorithms and user experience design principles are crucial for ensuring user satisfaction and engagement. Clinical efficacy and cost-effectiveness are essential factors in the comparison of different weight management approaches. Longitudinal studies provide valuable insights into the effectiveness of various weight management strategies and help inform technological advancements in the field. Emerging trends in weight loss technology, such as artificial intelligence and machine learning, offer exciting possibilities for personalized and effective weight management solutions. Regulation of weight management devices and apps is an essential consideration for businesses operating in this market, ensuring compliance with data privacy and health regulations. The market for weight management technologies is experiencing robust growth, with some estimates suggesting a compound annual growth rate of over 10% in the next five years.
What is the expected growth of the Weight Management Devices Market between 2024 and 2028?
USD 5.21 billion, at a CAGR of 6.78%
What segmentation does the market report cover?
The report is segmented by Type (Fitness equipment and Surgical equipment), Distribution Channel (Offline and Online), and Geography (North America, APAC, Europe, Middle East and Africa, and South America)
Which regions are analyzed in the report?
North America, APAC, Europe, Middle East and Africa, and South America
What are the key growth drivers and market challenges?
Growing obese population, Risk factors associated with bariatric surgeries
Who are the major players in the Weight Management Devices Market?
AbbVie Inc., Boston Scientific Corp., Cousin Biotech, Cutera Inc., Duke University, Fitness World, Garmin Ltd., Golds Gym Club Holding LLC, Into Wellness Pvt. Ltd., Johnson and Johnson Services Inc., Johnson Health Tech Co. Ltd., Life Fitness, Medtronic Plc, Mexico Bariatric Center, Nokia Corp., Olympus Corp., Qardio Inc., ReShape Lifesciences Inc., Spatz FGIA Inc., and TECHNOGYM S.p.A
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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