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.
