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Reports And Data
Market Size – USD 8,389.2 Million in 2020, Market Growth – CAGR of 15.7%, Market Trends – Technological advancements in healthcare
NEW YORK, NY, UNITED STATES, December 6, 2021 /EINPresswire.com/ — The global obesity treatment market size is expected to reach USD 27.10 billion by 2028 at a CAGR of 15.7%, according to a new report by Reports and Data. One of the key parameters driving market revenue growth is rising prevalence of obesity due to sedentary lifestyles, unhealthy eating habits, and lack of physical activity. The global market growth is further bolstered by increasing commercial availability of weight-management programs, rising demand for technologically enhanced weight-loss devices and equipment, and rise in government initiatives undertaken to promote awareness about obesity and its adverse health outcomes. Furthermore, growing trends of health and fitness such as gym culture, increasing cosmetic concerns, especially among millennials, increasing inclination towards weight-loss surgeries, and rising healthcare expenditure create market growth opportunities.
Obesity is a medical condition caused by growing size of fat cells in the body. This condition is associated with various health problems including diabetes, cardiovascular disease, high blood pressure and several types of cancer. Some of the major causes of obesity include lack of sleep, physical inactiveness, and excessive consumption of junk food. It is considered that the mainstay of obesity treatment is changes in lifestyle such as adequate diet and physical fitness. Dietary changes, improved physical activity, and behavioral changes are proven to help improve the condition and prevent various obesity-related health issues. In more serious cases, specific weight-loss procedures and medications are prescribed by physicians. Some commonly known FDA-approved weight-loss drugs are orlistat (Xenical, Alli), naltrexone-bupropion (Contrave), phentermine-topiramate (Qsymia), semaglutide (Wegovy), and liraglutide (Saxenda).
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The report is formulated through exhaustive primary and secondary research which is verified and validated by industry experts, research analysts, and professionals. The report aims to help readers and users improve their business performances by providing insightful data about business sphere such as recent technological development, product advancements, and adoption of strategic business steps. The report also offers extensive analysis of the competitive landscape along with business overviews, expansion plans, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product and brand promotions, government and corporate deals, and partnerships among others.
Top Companies in the Market Include:
Medtronic, Ethicon (subsidiary of Johnson & Johnson), Cousin Biotech, EnteroMedics, Inc., and USGI Medical, Inc. VIVUS, Inc., Arena Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd., Novo Nordisk A/S, and Allergan Plc.
Increasing focus on development of vaccines to combat COVID-19 pandemic and focus on preventive medicine to mitigate future epidemics and pandemics, rising number of product approvals for drugs and therapeutics, and rapid digital transformation in the pharmaceutical and healthcare industry are some key factors expected to drive revenue growth over the forecast period. With the social distancing norms in place and growing focus on telemedicine, digital technologies were adopted at an accelerated rate allowing healthcare professionals to efficiently manage health of the patients. One of the most crucial drivers of the pharma & healthcare industry is the rapid integration of artificial intelligence in key areas such as R&D, patient care, commercialization, and drug discovery and development. It has also led to a reduction in healthcare expenditure and improved efficiency of the systems which is expected to further contribute to revenue growth of the market going ahead.
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Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered. The report is segmented on the basis of product types offered in the market, application spectrum, and key regions of the Obesity Treatment market.
Some Key Highlights in the Report:
• Based on surgery type, the Biliopancreatic Diversion with Duodenal Switch (BPD/DS) segment is the leading segment, with the highest revenue share in the global obesity treatment market in 2020. Increasing prevalence of obesity-related health issues such as high blood pressure, type 2 diabetes, and other medical problems and growing preference for surgical procedures are expected to bolster this segment’s growth in the coming years.
• Based on drug type, the combination drugs segment reached the largest market share in 2020. Surging prevalence of obesity worldwide and introduction of effective combination therapies for weight management fuel this segment’s growth.
• North America accounted for the largest revenue share of 53% in the global obesity treatment market in 2020. Easy availability of minimally invasive procedures, increasing investments in technological innovations, and rise in research & development activities are the key factors driving the North America market growth. The Asia Pacific market is expected to register the highest CAGR of 18% during the forecast period. Growing awareness about the unfavorable health impacts of obesity, advancing healthcare infrastructure, and growing medical tourism are projected to boost market growth in this region.
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For the purpose of this report, the global obesity treatment market is segmented on the basis of surgery type, medication type, end-use, and region:
Surgery Type Outlook (Revenue, USD Billion; 2020-2028)
• Biliopancreatic diversion with Duodenal Switch (BPD/DS)
• Adjusting gastric Banding
• Roux-en-Y Gastric Bypass
• Sleeve gastrectomy
• Endoscopic Procedures
Drug Type Outlook (Revenue, USD Billion; 2020-2028)
• Appetite suppressants
• Combination drugs
• Satiety drugs
End-use (Revenue, USD Billion; 2020-2028)
• Beauty institutions
Key Regions Studied in the Report:
• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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