The WHO’s factsheet says that worldwide incidence of obesity has more than doubled since 1980. Over 1.9 million adults (18 years and older) were overweight in 2014 and among these, almost 600 million people were obese. The globally rising incidence of obesity is not a good news for nations, particularly those that largely depend on human capital for labor-intensive industries. Human capital is indispensable for any nation, be it developed, developing, or underdeveloped. Hence, governments of several nations are deliberating conscious efforts to curb the incidence of obesity.
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The alarming rate at which obesity and diet-related diseases are increasing has brought about a significant growth pattern in the weight management market around the world, states a report published by Transparency Market Research. The report, titled “Weight Management Market – Global Analysis and Forecast (2007 – 2015)”, indicates that from 2010 to 2015, the global market has witnessed strong growth. According to the report, the global weight management market was worth US$385.1 billion in 2010, and registering a CAGR of 9.4% over the forecast period, the market is estimated to be worth US$650.9 billion by the end of 2015.
The overall weight management market is broadly categorized into four key segments: weight loss supplements and drugs, weight management services, food and beverages (diet management), and equipment and devices. By services, the weight management market is fragmented into weight loss, which includes weight loss programs, slimming resorts, and attitudinal transformation programs; food and diet, which includes diet food services and organic and herbal food chain; invasive and non-invasive surgery, in which invasive surgery includes bariatric surgery and liposuction surgery; health clubs; dietary services and consultation; and professional services. Geographically, the weight management market is segmented into North America, Europe, and Asia and Rest of the World.
Among the four key segments, equipment and devices held the largest share of the weight management market in 2010, accounting for 37.7% of the market that year. Weight management services, on the other hand, have been identified as the fastest growing segment of the weight management market, with an expected value of US$205.2 billion by the end of 2015. In terms of growth rate, the segment of weight management services has been predicted to register a 13.4% CAGR between 2010 and 2015.
Of the three regional segments, North America dominated the global weight management market in terms of both growth and market share. In 2010, this region had market revenue of US$147.8 billion. Europe takes the second place in the weight management market thanks to increasing number of people choosing weight management programs off late. Asia has been identified as the region with the most potential thanks to people increasingly adopting lifestyle habits of the West. There has been significant growth in awareness regarding personal health and diet in Asia and the rise in disposable income has helped boost the weight management market in the region.
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The research report features a number of companies that work towards weight management and a comprehensive analysis of each of these firms is provided together with details on product and service portfolio, recent developments, business strategies, company and financial overview, and a SWOT analysis. The key players mentioned in the weight management market report are Weight Watchers International, Apollo Hospitals, VLCC Group, Medifast, Inc., Jenny Craig, Inc., Danbury Hospital, ELIXIA Nordic ASA, Fortis Healthcare Limited, Fitness First Ltd, The Zone Diet, The Atkins Diet, Nutrisystem, Talwalkars Better Value Fitness Ltd., Slim•Fast, The South Beach Diet, Max Healthcare Institute, eDiets.com, Inc., Wockhardt Hospitals, and Herbalife International.