Weight Loss Services Market Surge Valuation Of USD 21.1 Billion By 2025

 San Francisco, 14 Dec 2020: The Report Weight Loss Services Market Size, Share & Trends Analysis Report By Payment (Out of Pocket, Private Insurance), By Equipment (Fitness, Surgical), By Services (Consulting, Fitness Center), And Segment Forecasts, 2019 - 2025

The global industry for weight loss is an ever-expanding one, with the market size expected to be USD 21.1 billion by the year 2025, advancing at a CAGR of 8.4%. A rising proportion of consumers today has adopted a fast and unhealthy lifestyle, on account of longer work hours and the pressure that comes with it. Fast foods have become an effective choice for the working population, which has led to a rise in the obese and the overweight population. This in turn, is responsible for the rise of chronic diseases such as CVDs and diabetes.

According to the CDC, the prevalence of obesity in the U.S. was 42.4% in 2017-18, with the number being 30.5% in 1999-00. Additionally, the prevalence of severe obesity had also increased during this period from 4.7% to 9.2%. Moreover, the prevalence was evenly spread among the age groups of 20-39, 40-59 and above 60 years of age. The demand for weight loss activities is quite high in the first two age demographics, while it is also growing in appeal for people above 60 years of age suffering from obesity.

According to the WHO, as of October 2017, obesity or being overweight have led to the death of 2.8 million people globally each year, and governments as well as private institutions have taken great measures to ensure the fitness of the population. There has been a focus on expanding the number of gyms and fitness centers by companies, while a popular option is performing bariatric surgery on the overweight or obese population.

According to the American Society for Metabolic and Bariatric Surgery, an estimate of the number of surgeries in the country performed in 2011 stood at 158,000, which steadily increased to 228,000 in 2017, which points towards the growing acceptance of this weight loss technique among the target population. Additionally, weight loss surgery usually costs between $11,500 and $26,000; however, the patient who has undergone the surgery sees their healthcare cost reduced by 29% within 5 years of this surgery, which translates to long-term gains for them.

According to IHRSA data from 2018, there were 218,000 health and fitness clubs around the world, as compared to 165,000 clubs in 2014, with the U.S. and Brazil leading the way; however, this number does not include community recreational facilities or gyms located in other venues like hotels. The fitness sector is also undergoing digital advancements, and according to a Nielsen survey, 81% of Millennials stated that they exercise, or would want to, as compared to 61% of Boomers.

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Weight Loss Services Market Report Highlights

• Fitness equipment segment is estimated to register the highest CAGR over the forecast period due to advancements by key companies, in terms of technology and equipment
• Consulting services is projected to expand at the highest CAGR due to their cost-effectiveness as compared to other services
• APAC is expected to be the fastest-growing regional market in future. Increasing cases of obesity and diabetes due to changing lifestyles are anticipated to drive the region’s growth
• Some of the key companies in the global weight loss services market are Atkins Nutritionals, Inc.; Nutrisystem, Inc.; Herbal Life International, Inc.; Apollo Endosurgery, Inc.; Johnson Health Tech; WW International, Inc.; Kellogg Co; Amer Sports; Cynosure, Inc.; and Diet Health, Inc.

Grand View Research has segmented the global weight loss services market on the basis of equipment, service, payment, and region: 

Weight Loss Services Equipment Outlook (Revenue, USD Billion, 2014 - 2025)

• Fitness Equipment
  • Cardiovascular Equipment
  • Strength Training Equipment
  • Infrared Light Therapy Equipment
  • Others
• Surgical Equipment
  • Bariatric Surgery Equipment
  • Non-invasive Surgical Equipment

Weight Loss Services Outlook (Revenue, USD Billion, 2014 - 2025)

• Fitness Centers
• Slimming Centers
• Consulting Services
• Surgery
• Other Services

Weight Loss Services Payment Outlook (Revenue, USD Billion, 2014 - 2025)

• Government
• Private Insurance
• Out of Pocket

Weight Loss Services Regional Outlook (Revenue, USD Billion, 2014 - 2025)

• North America
• Europe
• Asia-Pacific
• Latin America
• MEA

Access Press Release of Weight Loss Services Market @ https://www.grandviewresearch.com/press-release/global-weight-loss-services-market