Obesity Treatment Market

Market Synopsis:

Global Obesity Treatment market is valued at USD 10.18 Billion in 2021 and is projected to attain a value of USD 21.71 Billion by 2028 at a CAGR of 16.5% during the forecast period, 2022–2028. Obesity is a huge problem in affluent countries as well as low- and middle-income ones. Overweight and obesity, according to a World Health Organization fact sheet, are linked to a variety of diseases and lead to a greater mortality rate than malnutrition. Chronic disorders such as hypertension, diabetes, and orthopedic diseases are common in the overweight and obese population.

The COVID-19 pandemic has wreaked havoc on the global population and economy. Across the globe, the COVID-19 pandemic caused substantial obstacles to the health-care system. Due to the imposition of lockdown, which resulted in trade restrictions and supply chain disruptions, it had a negative impact on the growth of the Obesity Treatment market for a short period of time. In addition, many non-essential medical and surgical treatments were halted, which had an impact on market growth.

Rise in Healthcare Expenditure

According to the World Health Organization, a sedentary lifestyle is a primary contributor to obesity, sickness, and disability. Obesity is responsible for over 2.0 million deaths per year. In addition, weight increase in teens is caused by a shift in preference toward sedentary lifestyles, physical inactivity, and altering eating habits. The rise in single-person homes, nuclear families, and families with working parents is encouraging people to embrace unhealthy lifestyles, which is driving up demand for fast-food meals. People are turning to ready-to-eat food as their schedules get increasingly hectic and their stress levels rise. Furthermore, the young have a proclivity for overeating and inadequate nutritional intake, both of which have negative health consequences. Physical inactivity, excessive video game playing, and lengthy hours of television viewing are all contributing to an increase in the number of obese teenagers and overweight adults over the age of 18.

High Cost Involved in the Research and Development

The high cost of obesity drug research and development, along with limited financial assistance, pose a significant impediment to the obesity management market's growth. Furthermore, longer research and development efforts, as well as the inclusion of clinical trials to evaluate pharmaceuticals, raise overall costs. As a result, given the current situation, producers must exercise caution and ensure that they invest in markets that deliver a higher return on investment. The risks and constraints posed by obesity medications' high development costs could stifle worldwide market expansion. Due to the high cost of surgical procedures such as gastric sleeve surgery, gastric bypass, adjustable gastric banding, and intragastric balloon treatment, non-invasive fat reduction technologies are becoming more popular.

The Obesity Treatment market scope can be tabulated as below:

Market Segmentation:

The Global Obesity Treatment Market has been segmented by Surgery into Adjusting gastric Banding, Roux-en-Y Gastric Bypass, Sleeve gastrectomy, Biliopancreatic diversion with Duodenal Switch and Endoscopic Procedures. By Drugs, into Appetite suppressants, Combination drugs, Malabsorption and Satiety drugs.Based on Region, the Obesity Treatment Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

North America to Continue Dominating the Obesity Treatment Market

With a revenue share of roughly 52 percent in 2021, North America dominated the global sector. The region's domination was mostly attributable to the region's expanding overweight and obese population, as well as rising rates of hypertension and diabetes. Furthermore, the shift toward less invasive techniques is expected to aid the growth of the obesity treatment market in North America. The regional market growth can be attributed to expanding geriatric populace, increasing surgical procedures, expanding and presence of established healthcare infrastructure. One of the primary causes leading to the growing demand for Obesity Treatment techniques and technologies among academic and research organisations, as well as healthcare firms in North America, is increased R&D spending.

Key Players:

Key participants operating in the Obesity Treatment market are: VIVUS Inc. (US), Arena Pharmaceuticals Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Novo Nordisk A/S (Denmark), Allergan Plc (US), Medtronic (US), Ethicon (a subsidiary of Johnson & Johnson) (US), Cousin Biotech (France), EnteroMedics Inc. (US), and USGI Medical Inc. (US).

The Obesity Treatment market is segmented as follows: