Between 2023 and 2033, the obesity management market is expected to increase at a compound annual growth rate (CAGR) of 5.2%. According to projections, the total market value will increase from US$ 2,095.6 million in 2023 to US$ 3,494.5 million in 2033.
With rising number of bariatric surgeries along with an increase in adoption of online weight loss and weight management programmes, growth in the disposable income in emerging economies, sedentary lifestyle and favorable government initiatives, awareness among the obese population has also increased. Along with this awareness, there’s been a notable increase in the demand for obesity management.
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In most developed countries with increasing geriatric population, owing to better healthcare facilities and a resultant increased life expectancy, the obesity management market has witnessed a considerable growth. As the elderly population is highly susceptible to gaining noticeable body fat and losing muscle mass and functioning ability, this age group of the population is a major market drive both in the short and long term. Additionally, genetics and medication side effects that lead to obesity also contribute to the market growth.
In spite of facing positive future market prospects, the target market is not without its share of challenges. High costs of surgeries and drugs coupled with safety issues may hinder the progress of the obesity management market in the global space over the forecast period.
“Prevailing sedentary lifestyle results in a surge in obese population which, in turn, is expected to propel the market growth of obesity management over the forecast period,” says an FMI analyst.
Key Takeaways:
- Rising adoption of weight loss and weight management programs to drive market growth.
- Concerns about the safety of obesity management drugs may hamper the market growth.
- Liraglutide registered the largest market share of 32.4%.
- By surgery type, gastric sleeve surgery is expected to dominate the market.
- The US is expected to maintain a high growth rate over the forecast period.
- The obesity management market in Europe to contribute significantly to the global revenue.
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Competitive Landscape
GlaxoSmithKline Plc, VIVUS, Inc., Novo Nordisk A/S, Currax Pharmaceuticals LLC, Cheplapharm Arzneimittel GmbH, Bausch Health Companies Inc., and Takeda Pharmaceuticals, Inc. and others, are some of the major players in the obesity management market that are profiled in the full version of the report.
In a consolidated market, major players are increasing investment in research and development activities for product innovation, development and upgradation of existing products.
Key Segments
By Drug Type:
- Bupropion and Naltrexone
- Orlistat
- Lorcaserin
- Phentermine and Topiramate
- Liraglutide
By Surgery Type:
- Gastric Bypass Surgery
- Adjustable Gastric Banding Surgery
- Gastric Sleeve Surgery
- Duodenal Switch Surgery
- Others
By Distribution Channel:
- Hospitals Pharmacies
- Retail Pharmacies
- E-commerce
