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The Global Weight Management Devices Market is estimated to grow by USD 4.57 billion at a Compound annual growth rate (CAGR) of 6.35% between 2022 and 2027. The growth of the Global Weight Management Market is driven by key factors reflecting changing health trends. Firstly, the increasing obese population highlights the demand for effective weight management solutions. Additionally, heightened awareness about weight management and lifestyle diseases drives the adoption of innovative devices. These factors underscore the importance of weight management devices in addressing global health concerns and driving market growth.
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The market share growth by the fitness equipment segment will be significant during the forecast period. Fitness equipment devices include cardiovascular training equipment, strength-building equipment, fitness-monitoring equipment, and other equipment used to manage weight. A gym, health club, fitness center, Slimming Center, and retail weight loss center use these kinds of equipment.
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The fitness equipment segments showed a gradual increase in the market share of USD 5.90 billion in 2017 and continued to grow by 2021. The growth of this market segment is fueled by the increasing prevalence of obesity intervention devices, diabetes, and cardiovascular diseases. A wide range of strength-building fitness equipment is available, including plate-loaded equipment, multi-station equipment, single-station equipment, free weights, benches, and racks. Due to the availability of a wide range of cardiovascular and strength-building equipment, the market segment will continue to witness growth during the forecast period.
The steady rise in the number of stores that offer devices is a major factor driving the growth of the offline segment. These stores often have customer care personnel offering advice about the advantages of equipment which is the main reason why customers prefer them. However, in the coming years, the segment is expected to see a marginal decline, with individuals increasingly preferring to purchase the equipment from the comfort of their homes. The retailers will have to focus on setting up online stores to sell their products. These factors can negatively impact the growth of the offline segment of the global market during the forecast period.
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North America is estimated to contribute 38% 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. North America was the largest geographical segment of the market in 2022. The market for weight management devices in North America is being propelled by growing consumer interest in healthier lifestyles and rising obesity-related concerns.
Moreover, the biggest market in North America is the US. Canada's market is also growing at a slower pace because of the small number of people. The popularity of obesity intervention devices is driven by a number of factors, such as the increasing incidence of obesity in the population and increased awareness of the health risks associated with overweight. Additionally, over 40% of American adults were considered obese in 2021, per the Centers for Disease Control and Prevention (CDC). The prevalence of chronic diseases like diabetes, heart disease, and specific types of cancer has increased in tandem with the rise in obesity intervention devices. During the forecast period, these factors are anticipated to fuel the growth of the market.
In the global weight management devices market, bariatric surgeries and online weight loss & management programs are gaining traction due to rising disposable income levels, especially in developing countries. Government initiatives to combat obesity, coupled with increasing awareness about chronic diseases like diabetes and hypertension, are driving the demand for these devices. Sedentary lifestyles and the prevalence of obesity-related conditions such as orthopedic diseases and hormonal problems further underscore the need for effective weight management solutions. Additionally, the influence of the fast-food industry, globalization, and digitalization have fueled the demand for weight management devices, including gyms and fitness centers, worldwide.
The growing awareness about lifestyle diseases is driving growth in the market. The increasing prevalence of lifestyle diseases is fueling demand in the market. Shifts in lifestyle and dietary habits over the past two decades, spurred by consumerism and urbanization, have led to a rise in the consumption of artificial and synthetic food products globally. Governments and fitness equipment manufacturers worldwide are launching various initiatives to raise public awareness about the importance of healthy lifestyles. These efforts aim to address issues like obesity, sedentary lifestyles, and chronic diseases such as diabetes, hypertension, and orthopedic ailments.
Additionally, childhood obesity and hormonal imbalances linked to dietary factors are being targeted through awareness programs. The influence of the fast-food industry and globalization, coupled with the rise of digitalization, underscores the need for maintaining a proper work-life balance. This collective push is expected to support market growth during the forecast period, driving demand for solutions like bariatric surgeries, online weight loss & management programs, gyms, and fitness centers.
The integration of digital technologies in devices is a key market trends. Smart exercise equipment is beneficial for users and gym and fitness clubs as they ensure a connected experience. As this smart exercise equipment is connected to the internet through a console, the equipment owner can get information about equipment use.
Additionally, insights about the performance of the equipment user can be availed through this smart exercise equipment. Furthermore, these types of equipment generate alerts to the owners and enable remote monitoring. The emergence of smart exercise equipment will positively impact the growth of the market during the forecast period.
The rising popularity of other alternatives to weight management devices is a major challenge in management devices. The growth of the worldwide market for weight control devices is being hindered by increased interest in other forms of exercise, including yoga, HIIT, reiki, aerobics, and swimming. HIIT, in particular, involves an intense workout session for a short burst of time, followed by a short, less intense period. Fitness centers are offering a wide range of HIIT classes, and HIIT fitness videos are flooding the market.
Moreover, an increasing number of people are opting for yoga due to the numerous health benefits associated with this ancient form of exercise and meditation. The benefits are relief from stress, flexibility, improved fitness, and an overall beneficial effect on health. The rising popularity of yoga is because it is seen as a therapy for the body and mind. Thus, the rise in other forms of workouts may limit the purchase of weight management devices during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AbbVie Inc. - The company offers weight management devices such as CoolSculpting Elite, which is a fat reduction system with applicators designed to target, freeze, and eliminate treated fat cells, under its subsidiary company Allergan Aesthetics.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market 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 market 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.
The global weight management market encompasses various strategies and products, including bariatric surgeries, online programs, and dietary supplements, catering to individuals with diverse needs and preferences. Factors such as disposable income levels, sedentary lifestyles, and the prevalence of conditions like hypertension and orthopedic diseases drive demand. Initiatives by governments and healthcare institutions, such as those by Narayana Health, contribute to raising awareness about weight management. The market sees a surge in online sales of weight management products, including ready-to-drink beverages, bars, and gels featuring functional and natural ingredients like caffeine and green tea extracts. Products targeting waistline control and metabolism optimization, such as slimming waters and supplements rich in catechins and antioxidants, are gaining traction among consumers seeking effective weight management solutions.
The market is witnessing a surge in demand driven by the rise of Online weight loss & management programs and increased awareness in Developing countries. Government initiatives aimed at tackling issues like Childhood obesity and addressing Hormonal problems have contributed to market growth. Factors such as the proliferation of the Fast-food industry and Globalization have led to an upsurge in obesity rates, necessitating the adoption of Digitalization in weight management solutions. Alongside traditional options like Gyms, Health clubs, and Sports institutes, consumers are turning to Wellbeing programs and innovative products like Ready-to-Drink (RTD) beverages, Powders, and Functional ingredients with Low-sugar contents. The market offers a variety of solutions, including Life Extension services, Meals fortified with Proteins, Fibers, and Carbohydrates, targeting Stubborn fat through Beverage sub-segment, Protein mixes, Herbal powders, and Tablets and Capsules.
The market forecasting report covers market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Weight Management Devices Market Scope |
|
Market Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.35% |
Market growth 2023-2027 |
USD 4.57 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.78 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 38% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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, 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 SpA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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