Obesity Management Market: Overview
The obesity management market is predicted to garner considerable revenue in the future due to steep rise in the prevalence of obesity over the past two decades. The statistics of prevalence of obesity and associated lifestyle diseases are alarming. According to records, in 2014, worldwide, more than half a billion people were registered obese and almost 2 billion adults were registered to be overweight. In the U.S., nearly 40% of the population was registered to be obese and nearly 70% of the population overweight in the same year.
Furthermore, every year, nearly 3 million people deaths are related to overweight or obesity. And, obesity accounts for almost half of Type 2 diabetes cases world over.
Due to such alarming statistics, weight loss and obesity management is important for the control of chronic diseases such as high cholesterol, diabetes, and heart disease for a healthy life.
Obesity Management Market: Competitive Landscape
The obesity management market is fairly consolidated with a few large players in the fray. R&D for product innovation and for development of existing products is what large players in the obesity management market are engaged in.
Prominent companies operating in the obesity management market are Pfizer Inc., F. Hoffmann-La Roche Ltd, AstraZeneca, Apollo Endosurgery, Merck Sharp & Dohme Corp. GlaxoSmithKline plc, Herbalife Ltd., and Ethicon Inc.
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Obesity Management Market: Key Trends
High consumption of calorie-loaded foods and sedentary lifestyle are some key causes of obesity world over. High consumption of processed foods for long periods of time that are loaded with calories, combined with physical inactivity results in fat accumulation in the body. Over a period of time, consumption of such foods large quantities leads to overweight and obesity.
Furthermore, habits of overeating food habits, frequency of eating, and a diet in simple carbohydrates are some other causes of obesity.
In developed countries, growing geriatric population, mainly because of improved healthcare leading to increase in life expectancy, is giving thrust to obesity management market. This is because geriatric people are more prone to accumulation of noticeable body fat with simultaneous loss of muscle mass and functioning capability. This makes the geriatric population key segment of the obesity management market short term as well as long term.
Besides this, genetics and side-effects of medication are related to obesity that needs to be treated with the help of obesity management programs. This fuels the obesity management market.
However, despite enormous benefits, some studies demonstrate adverse side effects of obesity management drugs if taken in the long term. Besides this, some studies demonstrate heart disease, sleep apnea, depression, and stroke to be linked with obesity drugs. Such safety concerns that have made patients wary of potential side-effects of obesity drugs is slowing the growth of obesity management market to some extent.
Obesity Management Market: Regional Outlook
North America is predicted to hold substantial revenue in the obesity management market in the forthcoming years. Factors such as substantial awareness in the population, presence of major drug manufacturers, and increasing prevalence of obesity account for high growth of obesity management market in the region. The bupropion and naltrexone is the leading segment in the North America obesity management market, and is expected to maintain its lead making it highly attractive to stakeholders.
Europe accounts for substantial revenue to the obesity management market. High consumption of processed meats and high prevalence of lifestyle diseases are some key causes of obesity in the region. Availability of health programs to manage obesity and government led health centers for obesity management augurs well for growth of obesity management market in the region.
However, Asia Pacific is emerging as a key region in the obesity management market. Excessive rise in incidence of obesity in developing countries of the region due to changing lifestyle has led to emergence of obesity management programs. This fuels the obesity management market in the region.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.