Weight Loss and Obesity Management Market to Surpass US$ 294.2 Billion, Globally, by 2027 at a CAGR of 7.1%, Says Coherent Market Insights

SEATTLE, Feb. 6, 2020 /PRNewswire/ -- According to Coherent Market Insights, the global weight loss and obesity management market is estimated to be valued at US$ 170.0 billion in 2019, and is expected to exhibit a CAGR of 7.1% over the forecast period (2019-2027).

Key Trends and Analysis of the Global Weight Loss and Obesity Management Market:

Key trends in the market include product launches, rising prevalence of obesity in emerging and developed economies, increasing awareness regarding obesity, and adoption of strategies such as acquisitions by key players to strengthen their market position.

An increasing number of product launches is one of the factors that is expected to drive growth of the global weight loss and obesity management market over the forecast period. For instance, in 2017, according to World Health Organization reports, around 1 in 3 children (aged 11 years) are overweight or obese in Europe.

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Major players are focused on expanding their product offering and increasing their geographical footprint through acquisitions which is also expected to drive growth of the global weight loss and obesity management market over the forecast period. For instance, In October 2018, Eisai Co., Ltd. entered an agreement with Eurofarma Laboratories S.A. to grant exclusive development and marketing rights for its anti-obesity agent lorcaserin hydrochloride in 17 countries in Latin America and the Caribbean, excluding Brazil.

Key Market Takeaways:

• The global weight loss and obesity management market is expected to exhibit a CAGR of 7.2% during the forecast period (2019-2027), owing to product launches, and increasing investment in research and development by manufacturers. For instance, in September 2019, the U.S. FDA approved Novo Nordisk semaglutide   which is a new diabetes drug that reduces blood sugar levels and also helps people lose weight significantly. Its once-a-week shot for people with type 2 diabetes.
• Key players in the market are focused on expanding their product portfolio by obtaining approvals and increasing research & development. This is expected to propel the market growth over the forecast period. For instance, in February 2019, the USFDA accepted Eisai Co., Ltd. New Drug Application (sNDA) for BELVIQ as an anti-obesity agent for patients with cardiovascular (CV) disease and type 2 diabetes.

Key players operating in the global weight loss and obesity management market include--

Novo Nordisk A/S, Takeda Pharmaceutical Company Ltd, Eisai Co., Ltd., F. Hoffmann-La Roche Ltd, VIVUS Inc., Herbalife Ltd., Apollo Endosurgery (U.S.), Amer Sports, Brunswick Corporation, Cybex International, Duke Products & Services & Fitness Center, Ethicon Inc., Equinox, Inc., Johnson & Johnson Services, Inc., Kellogg Company, Life Time Fitness Inc., Medtronic, and NutriSystem, Inc.

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Market Segmentation:

• Global Weight Loss and Obesity Management Market, By Product & Services:
• Drugs
• Bupropion-naltrexone (Contrave)
• Liraglutide (Saxenda)
• Lorcaserin (Belviq)
• Orlistat (Xenical)
• Phentermine-topiramate (Qsymia)
• Others
• Supplements
• Equipment
• Fitness Equipment
• Surgical Equipment
• Services
• Consulting Service
• Online Weight Loss Programs
• Others
• Global Weight Loss and Obesity Management Market, By Age Group:
• Children
• Adults
• Geriatrics
• Global Weight Loss and Obesity Management Market, By Region:
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East
• GCC
• Israel
• Rest of Middle East
• Africa
• South Africa
• Central Africa
• North Africa

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SOURCE Coherent Market Insights