The weight management market refers to the industry dedicated to products and services aimed at helping individuals lose weight, maintain a healthy weight, or manage obesity. This includes products such as weight loss supplements, meal replacement products, bariatric surgery, and diet plans. The market is growing due to increasing awareness of the health risks associated with obesity, as well as an aging population and urbanization. The market size was estimated at $208.2 billion in 2020 and is expected to grow in the coming years.
High prevalence of diabetes is expected to offer lucrative growth opportunities for players in the global weight loss and obesity management market. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045. Moreover, emergence of Covid-19 is also expected to aid in growth of the market. For instance, in January 2021, The American Academy of Pediatrics (AAP) offered guidance on continuing obesity management during the current pandemic.
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