The global Weight Loss Services Market was appreciated at US$ 11.1 billion during 2017 and is expected to touch US$ 21.1 billion by 2025. It is expected to witness a CAGR of 8.4% during the period of forecast.
This is attributed to an extensive demand for weight loss services; thanks to increase in health consciousness coupled with growth in per capita healthcare expenditure. It has been reported that one of the prime concerns across the globe is “obesity”; which is, in turn, cause of loads of health complications like cardiovascular diseases (CVDs), cancers, and diabetes.
Loads of fitness initiatives and campaigns are being undertaken by key players with regards to raise awareness about fitness and health. This factor is also expected to drive the weight loss services market in the near future. North America is the torchbearer; more so after introduction of “Treat and Reduce Obesity Act 2017” in the U.S. As such, people are encouraged to adhere to apt diet plan along with resorting to equipment for exercising.
The global weight loss services market is segmented based on equipment, service, payment, and geography. By equipment, the market spans fitness equipment (strength training equipment, cardiovascular equipment, infrared light therapy equipment, and others) and surgical equipment (bariatric surgery equipment, non-invasive surgical equipment).
By type of service, the weight loss services industry comprises slimming centers, consulting, fitness centers, surgery, and others. By type of payment, the same market constitutes private insurance, government, and out of pocket. By geography, the market consists of North America (Canada, U.S.), Europe (Germany, U.K., Italy, France, Greece, Spain, and Denmark), Asia Pacific (India, China, and Japan), LATAM (Mexico, Brazil, and Argentina), and MEA (Saudi Arabia, South Africa, and UAE).
The players contributing to the weight loss services market include Nutrisystem, Inc.; WW International, Inc.; Johnson Health tech; Apollo Endo surgery, Inc.; Diet Health, Inc.; Cynosure, Inc.; Amer Sports; Herbal Life International, Inc.; and Kellogg Co. Organic growth is being emphasized on. For instance – Nutrisystem, Inc.; in July 2018, did introduce an entirely novel line of vitamin packs to South Beach Diet programs. Prior to that, in Oct 2016, Atkins Nutritionals, in collaboration with Chef’d, did launch low-carb meal to cate to health conscious customers.
Weight Loss Services Equipment Outlook (Revenue, USD Billion, 2014 - 2025)
• Fitness Equipment
• Cardiovascular Equipment
• Strength Training Equipment
• Infrared Light Therapy Equipment
• Surgical Equipment
• Bariatric Surgery Equipment
• Non-invasive Surgical Equipment
Weight Loss Services Outlook (Revenue, USD Billion, 2014 - 2025)
• Fitness Centers
• Slimming Centers
• Consulting Services
• Other Services
Weight Loss Services Payment Outlook (Revenue, USD Billion, 2014 - 2025)
• Private Insurance
• Out of Pocket
Weight Loss Services Regional Outlook (Revenue, USD Billion, 2014 - 2025)
• North America
• Latin America
• South Africa
• Saudi Arabia
Research Support Specialist, USA