Market Size of Global Weight Management Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Weight Management Devices Market Analysis
The weight management devices market is projected to register a CAGR of 6.8% during the forecast period.
The sudden outbreak of the COVID-19 virus had an impact on weight management devices as the demand for the weight management devices such as fitness training equipment and cardiovascular training equipment increased due to the preferences for home workouts because of the strict lockdown regulations during the pandemic. In addition, the demand for weight management devices is expected to remain intact even after the relaxation of the strict lockdown procedures due to the reopening of the physical training centers and the long-term impact of COVID-19 on the cardiovascular system in the people affected with COVID-19, thereby contributing to the growth of the market over the forecast period.
The major factors boosting the overall market are the high prevalence of obesity among the global population and the increasing number of bariatric surgeries across the world. Obesity has significantly increased worldwide, especially over the past few decades. Such lifestyle disorders are found to have a great influence on the patient's body, thereby contributing to the growing demand for weight management devices. For instance, the World Obesity Forum data published in March 2022, stated that one billion people worldwide have obesity, including one in five women and one in seven men. Additionally, according to the OHID update in July 2022, 25.3% of adults aged 18 and over were living with obesity as of November 2021 in England. Such a high prevalence of obesity among the global population is expected to contribute to the growth of the market over the forecast period.
Also, the high volume of bariatric surgeries is expected to contribute to the growing demand for weight management devices. For instance, the data published by the ASMBS in June 2022 mentioned that the total number of bariatric surgeries performed in the United States was 198,651. Additionally, the launch of advanced products is also expected to contribute to the growth of the market. For instance, in November 2022, TUT Fitness Group launched the Second generation TUT trainer 2.0 and TUT Rower 2.0 for fitness training purposes.
However, deceptive marketing prices and the high cost of equipment are expected to impede the growth of the market.
Weight Management Devices Industry Segmentation
As per the scope of the report, weight loss and weight management are measures taken to maintain the body mass ratio of an individual for overall well-being. Obesity leads to negative health effects, such as stroke, high blood pressure, and coronary heart disease.
The Weight Management Devices Market is Segmented by Equipment (Fitness Equipment (Cardiovascular Training Equipment, Strength Training Equipment, Fitness Monitoring Equipment, and Other Fitness Equipment) and Surgical Equipment)) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments. The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
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Global Weight Management Devices Market Size Summary
The weight management devices market is experiencing a positive growth trajectory, driven by the increasing prevalence of obesity and the rising demand for bariatric surgeries globally. The COVID-19 pandemic has further accelerated this trend, as more individuals turned to home workouts during lockdowns, boosting the demand for fitness and cardiovascular training equipment. Even after the easing of restrictions, the demand remains strong due to the long-term health impacts of COVID-19 on the cardiovascular system. The market is also benefiting from the launch of advanced fitness products, which cater to the growing health consciousness among consumers. However, challenges such as high equipment costs and deceptive marketing practices could impede market growth.
Regionally, North America is witnessing significant market expansion due to the high prevalence of obesity and related chronic diseases, which have heightened the demand for weight management devices. The establishment of fitness centers and the availability of advanced equipment in this region further support market growth. In Canada, the rising incidence of multimorbidity among the obese population underscores the need for effective weight management solutions. The market is moderately competitive, with major players like Fitness World, Johnson Health Technology Co. Ltd, and Medtronic Plc leading the charge. These companies are continuously innovating and launching new products to capture a larger market share, contributing to the overall growth of the industry.
Global Weight Management Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Obesity Cases
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1.2.2 Increasing Number of Bariatric Surgeries
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1.2.3 Launch of New and Advanced Products
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1.3 Market Restraints
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1.3.1 Deceptive Marketing Practices
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1.3.2 High Cost of Equipment
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Equipment
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2.1.1 Fitness Equipment
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2.1.1.1 Cardiovascular Training Equipment
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2.1.1.2 Strength Training Equipment
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2.1.1.3 Fitness Monitoring Equipment
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2.1.1.4 Other Fitness Equipment
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2.1.2 Surgical Equipment
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 South Korea
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2.2.3.6 Rest of Asia-Pacific
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2.2.4 Middle East and Africa
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2.2.4.1 GCC
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2.2.4.2 South Africa
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2.2.4.3 Rest of Middle East and Africa
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2.2.5 South America
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2.2.5.1 Brazil
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2.2.5.2 Argentina
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2.2.5.3 Rest of South America
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Global Weight Management Devices Market Size FAQs
What is the current Global Weight Management Devices Market size?
The Global Weight Management Devices Market is projected to register a CAGR of 6.80% during the forecast period (2024-2029)
Who are the key players in Global Weight Management Devices Market?
Fitness World, Johnson Health Technology Co. Ltd, Life Fitness, Olympus Corporation and Medtronic Plc are the major companies operating in the Global Weight Management Devices Market.
