The weight management devices market size is expected to grow by $5.21 billion during 2024-2028. Growing obese population will accelerate market growth, Technavio

NEW YORK, June 26, 2024 /PRNewswire/ — The global weight management device market size is expected to grow $5.21 billion According to Technavio in the years 2024–2028. The market is estimated to grow at a CAGR of 6.78% during the forecast period. The growing population of obese people is driving the market growth, and the trend is to integrate digital technologies in weight management devices. However, the challenge is the risk factors associated with bariatric surgery. 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, Mexican Bariatric Center, Nokia company., Olympus Corp., Qardio Inc., ReShape Lifesciences Inc., Spatz FGIA Inc. and TECHNOGYM SpA

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Key market trends driving growth

The weight management market has seen significant growth due to the growing popularity of smart exercise equipment. These devices, connected to the Internet, offer numerous benefits to users and fitness clubs. They provide real-time information about equipment usage, performance analysis and remote monitoring capabilities. Well-known providers such as CoreX Fit Life, Nautilus, Inc. and Peloton Interactive, offer innovative products such as the CoreX fitness device, 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 device market is currently experiencing significant growth with various innovative solutions emerging. Features such as calorie tracking, heart rate monitoring, and sleep analysis are popular. Obesity and weight-related diseases pose a threat to the growth in demand for these devices. Consumers are looking for convenient and user-friendly solutions to help them achieve their weight loss goals. The rapid increase in digitalization and the availability of affordable options are also contributing factors. The Centers for Disease Control and Prevention emphasizes the importance of regular exercise and healthy eating habits. Successful user profiles and social media influence are effective marketing tools. Consumers are increasingly turning to wearable technology and smartphone apps to manage their weight. For example, Phytosciences offers a wide range of functional foods and supplements to support your weight loss efforts. Stay tuned for more updates on this emerging market.

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Market challenges

• The bariatric surgery market includes procedures such as 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, infections and weight gain. Irreversible procedures such as sleeve gastrectomy may worsen acid reflux. Complex surgeries such as gastric bypass carry the risk of complications and ulcers in the small intestine. Adjustable bands involve the installation of the device, which carries the risk of the band slipping off and causing swallowing problems. These risks may discourage adoption and impact demand for weight management devices.

• The weight management equipment market faces several challenges related to the implementation and use of weight management equipment. These include the need for consistency across centers and user training to ensure correct use of devices. The cost and availability of these devices, especially in developing countries, is also a significant challenge. Additionally, integrating 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 and require ongoing support and maintenance. Moreover, in this market, the need for privacy and security of user data is crucial. Overall, meeting these challenges will require collaboration among manufacturers, healthcare providers, and regulators to ensure the availability, affordability, and effectiveness of weight management devices.

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Segment overview

This Weight Control Devices market report extensively covers the market segmentation by

1. Type

• 1.1 Fitness equipment

• 1.2 Surgical equipment

Distribution channel

Geography

1.1 Fitness equipment- The largest segment of the global weight management devices market 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 grow during the forecast period. Fitness equipment is designed for a variety of facilities such as gyms, health clubs and commercial weight loss centers. The market growth is driven by the rising incidence of obesity and chronic diseases such as diabetes and cardiovascular diseases. Prominent vendors offer a variety of cardiovascular training equipment, such as elliptical trainers, treadmills, and exercise bikes, as well as strength-building equipment, including plate-loaded machines and free weights. The availability of a wide range of fitness equipment is driving the market growth.

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Research analysis

The weight management device market includes a range of products and services designed to help individuals manage their weight and improve their overall health. This market sells protein supplements that provide the nutrients necessary for muscle growth and regeneration. Additionally, fitness equipment such as cardiovascular equipment and strength training equipment is an integral part of this market, enabling users to exercise regularly and maintain a healthy lifestyle. Additionally, the services segment of this market includes consultation services provided by healthcare professionals that provide guidance on weight management strategies and management of chronic diseases such as diabetes, hypertension and orthopedic conditions. Functional drinks and functional foods, as dietary supplements, also play a role in this market, offering nutritional benefits that support weight management and disease prevention. Surgical equipment and fitness clubs are other important elements of the weight management market, intended for people requiring more intensive interventions or looking for a comprehensive experience related to fitness and well-being. Equipment costs vary depending on the specific product or service, making affordability a key factor for consumers. In summary, the weight management market offers a diverse range of products and services, from protein supplements and fitness equipment to consultation services and functional foods, all aimed at helping individuals manage weight and improve health.

Market research review

The weight management device market includes a range of technologies and solutions designed to help individuals monitor and manage their weight. These devices include smart scales, fitness trackers, and wearables. They provide essential data such as body weight, body fat percentage and other health indicators. Additionally, some devices offer features such as food tracking, activity monitoring, and personalized weight loss plans. These tools are designed to promote a healthier lifestyle and support sustainable weight loss goals. The weight management device market continues to grow, driven by increasing health awareness and the availability of advanced technologies.

Contents:

1 Summary
2 Market landscape
3 Market size
4 Historical market size
5 Five Forces Analysis
6 Market segmentation

• Type

• Distribution channel

• Geography

7 Customer Landscape
8 Geographic landscape
9 Factors, challenges and trends
10 Company landscape
11 Company analysis
12 Annex

About Technavio

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SOURCE Technavio