Obesity is excess body fat to the extent that it may have a negative effect on health. Generally obesity is when body mass index (BMI), is over 30 kg/m2.
According to world health organization in 2016;
- Worldwide obesity has tripled since 1975.
- More than 1.9 billion of adults, were overweight of which over 650 million were obese
- 39% of adults are overweight of which 13% are obese.
- 41 million children were obese
- A total of over 340 million children and adolescents are obese
Thus it is safe to comprehend that there is a large untapped market. Obesity management Market is expected to grow at the average CAGR of 8.4% during 2015-2022. Obesity management Market is expected to reach US$ 6.2 billion by 2022 from US$ 4.17 billion in 2015.
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Key Players for Obesity Management Market
Pfizer Inc. (US), Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), GlaxoSmithKline plc. (UK), AstraZeneca (UK), Herbalife Ltd. (U.S.), Apollo Endosurgery (U.S.), Ethicon, Inc. (U.S.)
Segments of Obesity Management Market
Prescription weight-loss medication – orlistat (Xenical), lorcaserin (Belviq), phentermine and topiramate (Qsymia), buproprion and naltrexone (Contrave), and liraglutide (Saxenda), and others.
Surgery – Gastric bypass surgery, Laparoscopic adjustable gastric banding (LAGB), Biliopancreatic diversion with duodenal switch, and others.
Lifestyle changes – Dietary changes, Exercise, and others.
Market dynamics of Obesity Management Market:
- Sedentary lifestyle and unhealthy eating habits
- Global rise in obese population and shifting of obesity to low-middle income countries
- Growing awareness of obesity related diseases such as diabetes, hypertension, heart diseases etc.
- Growing R&D and development of liposuction and bariatric surgery
- Side effects of anti-obesity drugs
- Growing stringency of regulatory approvals and high cost of treatment
- Competition from alternative medicine
- Low income in Poor and developing regions of the world
- Staple diets such as rich in the Asian Countries
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Regional Analysis of Obesity Management Market
Unsurprisingly, the United States tops the list of most obese nation with a rate of greater than 30%. The U.S. is known its penchant for fast food options and adoration for anything fried and oily. The U.S. is also a large consumer of spirits, which add to its overweight woes. Latin America is led by Mexico, Chile followed by Argentina, two of the largest beef consumers in the world. Europe is led by the U.K with greater than 25 % rate of obese individuals. Asia Pacific region is led by Australia. Notably, Japan emerges as the least obese nation owing to its diet staples which include fish and rice at a rate of only 3%! The presence of staple diets and milk in most Asian nations make them an unworthy market for obesity management. Vegetarian movement in India and cultural association with traditional foods have restrained obesity as well as the market in India.
The Middle East and Africa have the least market share, which is heavily tilted towards the rich Gulf economies of Saudi Arabia, UAE and others. The African continent is the least developed market with the lowest potential. Thus only income does not provide a direction of the market. Factors such as media and modernization, social lifestyles and others influence the market.
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