Obesity Treatment Market Overview
The obesity treatment market is projected to grow at a CAGR of 16.7% during forecast period. Obesity is the increase in body mass index, which has various causes in general; this condition has become a global concern. The major causes of obesity are mental disorders, medications, socio-economic conditions, improper diet, lack of physical exercise, and endocrine disorders that lead to obesity. Other factors such as increased urbanization and economic conditions lead to this health disorder. These factors are driving the growth of the Obesity Treatment Market.
People suffering from the cardiovascular disorder and higher degrees of obesity lead to serious health issues. The higher necessity of maintaining body mass and the rise in the number of options for treating the condition are accelerating the Obesity Treatment Market.
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The ongoing trend of work-from-home and lack of physical exercise, maintaining an unhealthy diet and routines result in obesity. Improper food habits like food order online and consumption of packed food and ready-to-eat food is propelling toward diabetic condition.
There are several weight management programs and websites that guide the individual’s regular activity by promoting awareness among the public concerned about overweight conditions. The adoption of electronic devices and wearables to monitor health parameters is offering lucrative opportunities for the Obesity Treatment Market.
During the pandemic period, travel restrictions have restricted people from visiting hospitals for regular health checkups, which led to a decline in obesity drug management and subscriptions. The surgeries related to obesity condition were also postponed because the core importance was given to the virus spread.
But the advancement in consulting and sedentary lifestyle maintenance work from home trends has propelled the growth of the Obesity Treatment Market.
Obesity Treatment Market Segmentation
The Obesity Treatment Market is segmented into surgery type, drug type, and end-users.
The surgery type segment is classified into different modes of surgery such as Biliopancreatic diversion with Duodenal Switch (BPD/DS), Roux-en-Y Gastric Bypass, Adjusting Gastric Banding, Sleeve gastrectomy, and Endoscopic Procedures.
The drug type segment of the market is categorized into Combination drugs, Malabsorption, Appetite suppressants and Satiety drugs.
The end-user section of the Obesity Treatment Market is divided into Clinics, Hospitals, Beauty institutions and others.
The Obesity Treatment Market is showing tremendous growth in major regions like the Americas, Europe, Asia Pacific and the Middle East and Africa. Due to rapid urbanization, the number of obesity cases has increased in North America. Hence it is considered the largest market in terms of share as it covers the maximum share in recent years. Other factors driving the regional market of this region are higher research and development activities, minimally invasive procedures, and weight management solutions.
Asia-pacific has acquired the highest CAGR in recent years due to the increase in awareness about the health issues due to obesity and social media exposure. The advancement in medical facilities and infrastructure are primary reasons for the regional market growth of APAC.
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Novo Nordisk’s Saxenda, the world’s first and only drug for the treatment of obesity with glucagon-like peptide 1 (GLP-1), has sustained the top spot in Korea’s obesity market for 13 successive quarters.
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