Yahoo Finance Weight Management Devices Market size is set to grow by USD 5.21 billion from 2024-2028, Growing obese population to boost the market growth, Technavio
NEW YORK, June 26, 2024 /PRNewswire/ -- The global weight management devices market size is estimated to grow by USD 5.21 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.78% during the forecast period. Growing obese population is driving market growth, with a trend towards integration of digital technologies in weight management devices. However, risk factors associated with bariatric surgeries poses a challenge. Key market players include AbbVie Inc., Boston Scientific Corp., Cousin Biotech, Cutera Inc., Duke University, Fitness World, Garmin Ltd., Golds Gym Club Holding LLC, Into Wellness Pvt. Ltd., Johnson and Johnson Services Inc., Johnson Health Tech Co. Ltd., Life Fitness, Medtronic Plc, Mexico Bariatric Center, Nokia Corp., Olympus Corp., Qardio Inc., ReShape Lifesciences Inc., Spatz FGIA Inc., and TECHNOGYM S.p.A.
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Forecast period | 2024-2028 |
Base Year | 2023 |
Historic Data | 2018 - 2022 |
Segment Covered | Type (Fitness equipment and Surgical equipment), Distribution Channel (Offline and Online), and Geography (North America, APAC, Europe, Middle East and Africa, and South America) |
Region Covered | North America, APAC, Europe, Middle East and Africa, and South America |
Key companies profiled | AbbVie Inc., Boston Scientific Corp., Cousin Biotech, Cutera Inc., Duke University, Fitness World, Garmin Ltd., Golds Gym Club Holding LLC, Into Wellness Pvt. Ltd., Johnson and Johnson Services Inc., Johnson Health Tech Co. Ltd., Life Fitness, Medtronic Plc, Mexico Bariatric Center, Nokia Corp., Olympus Corp., Qardio Inc., ReShape Lifesciences Inc., Spatz FGIA Inc., and TECHNOGYM S.p.A |
Key Market Trends Fueling Growth
The weight management devices market has experienced significant growth due to the increasing popularity of smart exercise equipment. These devices, connected to the internet, offer numerous benefits for users and fitness clubs. They provide real-time equipment usage information, performance insights, and remote monitoring capabilities. Notable vendors, such as CoreX Fit Life, Nautilus, Inc., and Peloton Interactive, offer innovative products like the CoreX fitness machine, JRNY digital platform, and Peloton Tread smart treadmill, respectively. These devices offer a wide range of exercises, trainer-led workouts, and personalized coaching, making weight management more convenient and effective.
The Weight Management Devices market is currently experiencing significant growth, with various innovative solutions emerging. Functions such as calorie tracking, heart rate monitoring, and sleep analysis are trending. Obesity and weight-related diseases are concerns driving demand for these devices. Consumers seek convenient, user-friendly solutions to help them achieve their weight loss goals. Surge in digitalization and the availability of affordable options are also contributing factors. Centers for Disease Control and Prevention stress the importance of regular exercise and healthy eating habits. Profiles of successful users and social media influence are effective marketing tools. Consumers are increasingly turning to wearable technology and smartphone apps for weight management. Phytosciences, for instance, offers a range of functional foods and supplements to support weight loss efforts. Stay tuned for more updates on this evolving market.
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Market Challenges
The bariatric surgeries market encompasses procedures like gastric bypass, adjustable banding, and sleeve gastrectomy for weight management. These surgeries treat obesity and related conditions such as diabetes, high blood pressure, and cholesterol. However, they carry potential risks including acid reflux, anesthesia complications, nausea, infection, and weight regain. Non-reversible procedures like sleeve gastrectomy may worsen acid reflux. Complex surgeries like gastric bypass have risks of small bowel complications and ulcers. Adjustable banding involves device installation with risks of band slippage and swallowing problems. These risks may deter adoption and impact the demand for weight management devices.
The Weight Management Devices market faces several challenges in the implementation and use of equipment for weight management. These include the need for consistency in centres and training for users to ensure proper use of the devices. The cost and availability of these devices, especially in developing countries, is also a significant challenge. Additionally, the integration of these devices with electronic health records and other digital health platforms is essential for effective weight management programs. The complexity of these systems can be a barrier to adoption, requiring ongoing support and maintenance. Furthermore, the need for privacy and security of user data is crucial in this market. Overall, addressing these challenges will require collaboration between manufacturers, healthcare providers, and regulatory bodies to ensure the availability, affordability, and effectiveness of weight management devices.
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Segment Overview
This weight management devices market report extensively covers market segmentation by
Type
1.1 Fitness equipment
1.2 Surgical equipment
Distribution Channel
2.1 Offline
2.2 Online
Geography
3.1 North America
3.2 APAC
3.3 Europe
3.4 Middle East and Africa
3.5 South America
1.1 Fitness equipment- The global weight management devices market's largest segment in 2023 was fitness equipment. This segment, which includes cardiovascular training equipment, strength-building equipment, fitness-monitoring devices, and other weight management tools, is expected to expand during the forecast period. Fitness equipment caters to various establishments like gyms, health clubs, and commercial weight loss centers. The market's growth is driven by the increasing prevalence of obesity and chronic diseases such as diabetes and cardiovascular diseases. Prominent vendors offer diverse cardiovascular training equipment, such as elliptical trainers, treadmills, and stationary cycles, and strength-building equipment, including plate-loaded machines and free weights. The availability of a wide range of fitness equipment fuels the market's growth.
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Research Analysis
The Weight Management Devices Market encompasses a range of products and services designed to assist individuals in managing their weight and improving overall health. This market includes the sale of protein supplements, which provide essential nutrients for muscle growth and recovery. Additionally, fitness equipment such as cardiovascular training equipment and strength training equipment are integral to this market, allowing users to engage in regular workouts and maintain a healthy lifestyle. Furthermore, the service segment of this market includes consultation services from healthcare professionals, providing guidance on weight management strategies and the treatment of chronic diseases like diabetes, hypertension, and orthopedic conditions. Functional beverages and functional food, as dietary supplements, also play a role in this market, offering nutritional benefits that support weight management and disease prevention. Surgical equipment and health clubs are other significant components of the Weight Management Devices Market, catering to those requiring more intensive interventions or seeking a comprehensive fitness and wellness experience. Equipment costs vary depending on the specific product or service, making affordability a crucial factor for consumers. In summary, the Weight Management Devices Market offers a diverse range of products and services, from protein supplements and fitness equipment to consultation services and functional food, all aimed at helping individuals manage their weight and improve their health.
Market Research Overview
The Weight Management Devices Market encompasses a range of technologies and solutions designed to assist individuals in monitoring and managing their weight. These devices include smart scales, fitness trackers, and wearable technology. They provide essential data such as body weight, body fat percentage, and other health metrics. Furthermore, some devices offer features like food tracking, activity monitoring, and personalized weight loss plans. These tools aim to promote healthier lifestyles and support sustainable weight loss goals. The market for weight management devices continues to grow, driven by increasing health consciousness and the availability of advanced technologies.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Distribution Channel
Geography
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
