Obesity is a disorder in which excess body fat gets accumulated to such extent that it may have negative effects on health. It occurs over time when people eat more calories than they utilize. The reasons for obesity can be medical problems, inactivity, genetics, family lifestyle, unhealthy diet, medications, age, and pregnancy. Being obese increases the risk of diabetes, heart disease, stroke, arthritis, and some type of cancers.
Obesity treatment basically incorporates a two-step process: assessment and management. Obesity assessment includes determination of the level of obesity and obesity management involves overall maintenance of body weight as well as the systematic weight loss programs.
Government initiatives to increase the awareness about fitness, technological advancements improving the compliance rates of surgeries, and aggressive marketing strategies to attract customers are some of the drivers for the growth of the obesity treatment market.
Factors responsible for restraining the growth of the obesity treatment market are availability of low cost alternatives, high cost of customization, and post-surgical side effects.
The obesity treatment market is segmented based on lifestyle changes, surgical & implant devices, and medication therapy. Lifestyle changes involves dietary changes and exercise. The dietary segment held a significant share in 2015 and is expected to increase during the forecast period. The reasons for the projected growth of the segment might be low cost of therapy, increase in health consciousness among people, and acceptance of the fact that it is easier to lower calorie intake to a greater degree than to burn more calories through increased exercise.
The surgery & implant devices are further categorized into gastric bypass surgery, gastric balloon, gastric band, electrical stimulation system, and gastric emptying system. Gastric bypass surgery is a fast growing segment in the obesity treatment market owing to factors such as fast recovery time, improved psychological status, and improved longevity. The minimally invasive segment is expected to grow at a higher rate during the forecast period due to its reversible nature, rapid effect, and cost & time effectiveness. It basically involves employing the implant devices in gastric area, which minimizes the incidences of post-operative infections that arise from invasive procedures. It in turn shortens the hospital stays for patients.
In medication therapy, the individual (satiety) drug and combination drug therapy are the two major segments. The combination drug segment in the obesity treatment market captured a large share globally in 2015. It is mainly attributed to the synergistic effect of combined therapy in obesity treatment and rising prevalence of obesity. The satiety drug which provide a feeling of gastric fullness is a fast growing segment in the obesity treatment market. The major reason for the growth is its cost which is lower than that of the combination therapy.
Geographically, the obesity treatment market is segmented into North America, Europe, Asia Pacific, and rest of the world. In 2014, North America accounted for a significant share of the market owing to the rise in childhood obesity rates, strong government support and funding, growth in obese population, increase in membership for health clubs, lifestyle changes, and technological advancements in this region. North America is expected to maintain the level owing to heavy R&D investments deployed to develop rational and effective obesity treatment processes. Asia Pacific is estimated to grow at a high rate due to increase in demand for drugs, commercialization of minimally invasive surgical procedures, and rise in awareness about risks associated with obesity. Moreover, unhealthy diet and sedentary lifestyle are likely to increase the number of obese people during the forecast period.
Key market players operating in the obesity treatment market include NutriSystem, Inc. (U.S.), Kellogg Company (U.S.), Ethicon, Inc. (U.S.), Atkins Nutritionals, Inc. (U.S.), Herbalife Ltd. (U.S.), Covidien plc (U.S.), Apollo Endosurgery (U.S.), Amer Sports (Finland), Johnson Health Technology, Ltd. (Taiwan), Cybex International (U.S.), Olympus Corporation (Japan), Brunswick Corporation (U.S.), and Technogym SpA (Italy). Increase in focus of the market players on gaining FDA approvals to launch new drugs and devices in the obesity treatment market propels the growth of the obesity treatment market exponentially during the forecast period.
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.