Pune, July 24, 2024 (GLOBE NEWSWIRE) -- Weight Loss Devices Market Size Analysis:
“According to SNS Insider Research, The Weight Loss Devices Market Size was valued at US$ 5.30 billion in 2023, and is expected to reach US$ 8.50 billion by 2032, and grow at a CAGR of 6.60% over the forecast period 2024-2032.”
The growing realization of the adverse health effects related to obesity and the advantages of adhering to proper weight are prominently driving traction for the global market growth of weight loss devices. Worldwide, obesity has nearly tripled since 1975 and more than 650 million adults are now obese according to the WHO. This epidemic represents a severe public health problem, with obesity prevalence increasing the risks for chronic diseases such as diabetes, cardiovascular disease, and some cancers. In the face of these alarm bells, governments and health organizations are stepping up their efforts to encourage healthier lifestyles & manage weight.
In the USA, where more than 40% of adults are obese (Centres for Disease Control and Prevention [CDC]), this highlights a tremendous requirement to introduce effective weight management strategies. Such increased awareness along with an escalating focus on preventive health practices continues to foster demand for novel weight loss devices particularly non-invasive advanced therapies and new home-use top-line fitness technologies as well. Hence, the weight loss devices market is growing significantly, due to increasing awareness about obesity-triggering diseases and the need for overall well-being.
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Major Players Analysis Listed in this Report are:
- Fitbit Inc.
- Garmin Ltd.
- Philips Healthcare
- Medtronic plc
- Johnson & Johnson
- Obalon Therapeutics, Inc.
- InBody Co., Ltd.
- iFit Health & Fitness Inc.
- Hologic, Inc.
- Nuvasive, Inc.
- Other Players
Weight Loss Devices Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 5.30 Billion |
| Market Size by 2032 | US$ 8.50 Billion |
| CAGR | CAGR of 6.60% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | •Rising Awareness About the Health Risks Associated with Obesity and the Benefits of Maintaining a Healthy Weight Boosts Market Growth. •Growing Interest in Fitness and Wellness Activities Supports the Demand for Fitness Tracking and Body Monitoring Devices. |
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Segmentation Dynamics
Mechanical procedures have captured the largest market share in weight loss devices in 2023 by a value of more than 40% and are likely to maintain their dominance during the forecast period owing to prevalence among, established efficacy. Cryolipolysis (CoolSculpting) alone is expected to expand at over 10.5% CAGR as the demand for non-invasive fat reduction treatments is raising rapidly. To a lesser extent, there has been more surgical treatment in bariatric surgery with devices like gastric bands. From 2017 to 2026, the American Society for Metabolic and Bariatric Surgery (ASMBS) determined that there were more bariatric procedures performed in the United States which is 13%. Indeed, the largest segment in the weight loss devices market, mechanical devices can reduce body fat and help patients lose 5-10% of their original weight on average; results are backed by strong clinical evidence culpable for such a lucrative position.
Weight Loss Devices Market Key Segmentation:
By Devices
- Fitness Devices
- Treadmills
- Exercise bikes
- Elliptical trainers
- Weightlifting Devices
- Home gym Devices
- Others
- Wearables
- Smartwatches
- Fitness trackers
- Others
- Surgical Devices
- Bariatric surgery
- Liposuction
- Others
- Non-Invasive Body Contouring Devices:
- CoolSculpting
- Ultrasound cavitation
- Radiofrequency devices
- Electromagnetic field (EMF) devices
By Indication
- Body Contouring & Body Toning
- Obesity Management
- Chronic Disease Management
- Obesity & Weight Management
- Fitness & Performance Enhancement
- Others
By Procedure
- Mechanical
- Electrical
- Laser/Ultrasound
By Distribution Channel
- Retail Stores
- Online Platforms
- Direct Sales
- Healthcare Providers
Regional Insights
Asia-Pacific is growing with the fastest CAGR over the weight loss devices market which is growing at a rate of 7.3% during the forecast period. This expansion has occurred for several reasons. One is that obesity rates are also rising in countries such as China and India with rapid urbanization, increased sedentary behavior, and modification of diets. The Asia Pacific region is sluggish in the race to take preventive measures concerning combating obesity, states the World Health Organization. The growing global attention to health hazards due to obesity coupled with the rising adoption of weight management solutions has also proliferated market growth.
Regional governments are also increasingly focusing on initiatives related to health and wellness which in turn contribute towards the growth of the market. The growing economy coupled with an increase in disposable income and health care spending contribute to the surge availability of weight loss solutions among more sections of consumers. Additionally, the increasing incidence of obesity and a growing population more numbers in technology adoption help in establishing demand for weight loss devices shielding market potential currently exists. All these factors cumulatively make the Asia Pacific region, one of the fastest-growing markets in weight loss devices section during the forecast period.
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Recent Developments
- In November 2022, PowerMax Fitness introduced the latest fitness tools with the new age technology into the Indian market. The quality elliptical cross trainer, Powermax EH 760 along with the commercial and semi-commercial motorized treadmills; Powermax TAC-3000, TAC-3500, TAC-550 &TACC -585.
- In March 2021, Matrix Fitness introduced a three-pronged cardio series namely - Performance Series, Endurance Series, and Lifestyle Series -to effectively factor in cardiovascular workouts for influencers who were consumers of weight monitoring solutions.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Weight Loss Devices Market Segmentation, By Devices
8. Weight Loss Devices Market Segmentation, By Indication
9. Weight Loss Devices Market Segmentation, By Procedure
10. Weight Loss Devices Market Segmentation, By Distribution Channel
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion
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