Weight Management Devices Market Size
| 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 |
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 Market Trends
This section covers the major market trends shaping the Weight Management Devices Market according to our research experts:
Cardiovascular Training Equipment is Expected to Witness a Healthy Growth Over the Forecast Period
Cardiovascular training equipment includes a wide range of equipment that involve all cardio-related exercises. Cardiovascular exercises not only have positive effects on overall health but also greatly impact memory and learning. Such factors are expected to contribute to the growth of the studied segment over the forecast period.
According to the WHO data in October 2022, a healthy adult must engage in moderate-intensity cardiovascular exercise for around 150 minutes per week. These exercises help strengthen the heart, increase the number of red blood cells, reduce the number of carbohydrates in muscles, and enhance the overall aerobic metabolism process. Such benefits of cardiovascular fitness management are expected to drive the demand for cardiovascular training, thereby contributing to the growth of the studied segment over the forecast period.
The strategic initiatives of the market players, such as product launches, are expected to contribute to the growth of the studied segment over the forecast period. For instance, in October 2021, SOLE and STUDIO launched a smarter cardio experience to deliver a connected fitness membership to its customers. There is also a wide acceptance of treadmills as cardiovascular fitness devices for home exercise and is considered one of the basic home gym equipment globally. Furthermore, the high growth is due to several factors, such as growing accessibility to gyms, continuous technological developments in equipment, and easy availability of equipment.
North America is Expected to Dominate the Weight Management Devices Market During the Forecasted Period
The market in North America has been growing due to several major factors that have helped increase the weight management devices market. The major factors include the rising prevalence of obesity, increasing sedentary lifestyles, and rising demands for fitness among individuals. For instance, as per the NIH report in June 2021, among adults aged 20 and over, the prevalence of obesity was 41.9%, severe obesity was 9.2%, and diabetes was 14.8% in the United States. The CDC has identified obesity as a leading cause of preventable death in the United States, and it is one of the leading causes of chronic diseases both worldwide and in the United States. Obesity-related disorders, known as comorbidities, include cardiovascular diseases, diabetes, musculoskeletal disorders, and some cancers. The increase in the prevalence of obesity among the population and the high risk of chronic disorders is expected to drive the demand for weight management devices, thereby contributing to the growth of the market.
Similarly, the growing need for weight management devices due to the high incidence of various chronic diseases due to obesity among the Canadian population is expected to contribute to the growth of the market. For instance, as per a BMC article published in April 2021, the prevalence of multimorbidity of chronic diseases was 33% and there was an increase in multimorbidity for those obese or overweight. Therefore, the rising pace of obesity and chronic diseases makes it necessary to advocate weight loss programs and obesity management. The rise in health concerns, high income, and technological advancements are driving the expansion of the market.
Additionally, the establishment of fitness centers in this region is expected to drive the demand for advanced weight management devices, thereby contributing to the growth of the market. For instance, in July 2022, the First Mini Planet Fitness center was launched in Canada. This fitness center was included with the donation of 28 pieces of cardio equipment, including high-end treadmills and others.
Weight Management Devices Industry Overview
The weight management devices market is moderately competitive and consists of several major players. In terms of market share, few major players currently dominate the market. Some of the major market players include Fitness World, Johnson Health Technology Co. Ltd, Life Fitness, Olympus Corporation, Medtronic Plc, and Others.
Weight Management Devices Market Leaders
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Fitness World
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Johnson Health Technology Co. Ltd
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Life Fitness
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Olympus Corporation
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Medtronic Plc
*Disclaimer: Major Players sorted in no particular order
Weight Management Devices Market News
- In November 2022, Powermax Fitness launched cutting-edge fitness equipment with advanced technology in India. The new launch includes the quality elliptical cross trainer, Powermax EH 760, and commercial and semi-commercial motorized treadmills like Powermax TAC-3000, TAC-3500, TAC-550, and TAC-585.
- In March 2021, Matrix launched a three-tiered cardio series - the performance series, the endurance series, and the lifestyle series - for cardiovascular training and weight monitoring purposes.
Weight Management Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Obesity Cases
4.2.2 Increasing Number of Bariatric Surgeries
4.2.3 Launch of New and Advanced Products
4.3 Market Restraints
4.3.1 Deceptive Marketing Practices
4.3.2 High Cost of Equipment
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Equipment
5.1.1 Fitness Equipment
5.1.1.1 Cardiovascular Training Equipment
5.1.1.2 Strength Training Equipment
5.1.1.3 Fitness Monitoring Equipment
5.1.1.4 Other Fitness Equipment
5.1.2 Surgical Equipment
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 France
5.2.2.4 Italy
5.2.2.5 Spain
5.2.2.6 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Australia
5.2.3.5 South Korea
5.2.3.6 Rest of Asia-Pacific
5.2.4 Middle East and Africa
5.2.4.1 GCC
5.2.4.2 South Africa
5.2.4.3 Rest of Middle East and Africa
5.2.5 South America
5.2.5.1 Brazil
5.2.5.2 Argentina
5.2.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 COMPANY PROFILES
6.1.1 Atkins Nutritionals
6.1.2 Cybex International Inc.
6.1.3 Fitness World
6.1.4 Johnson Health Technology Co. Ltd
6.1.5 Life Fitness
6.1.6 Life Time Inc.
6.1.7 Medtronic PLC
6.1.8 Olympus Corporation
6.1.9 Technogym SpA
6.1.10 Apollo Endosurgery
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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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Weight Management Devices Market Research 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.
Which is the fastest growing region in Global Weight Management Devices Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Weight Management Devices Market?
In 2024, the North America accounts for the largest market share in Global Weight Management Devices Market.
What years does this Global Weight Management Devices Market cover?
The report covers the Global Weight Management Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Weight Management Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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