Global Medically Supervised Weight Loss Service Market: Overview
Obesity has reached concerning levels around the world, with an increasing number of people tipping the scales. 69% of Americans are estimated to be overweight or obese at this point in time. Excess weight is increasingly linked with a number of chronic diseases that figure as the top causes of mortality worldwide. Also, popular human aesthetics are pushing people towards a fitter body image, increasing social pressure to shed excess weight. In such a scenario, the medically supervised weight loss market offers a variety of treatments that can help achieve this objective. From non invasive techniques such as special diets and exercise to invasive surgery, these treatment strategies help the individual lose weight when conventional methods have failed them. Growing awareness regarding the same is set to contribute to growth in the global medically supervised weight loss services market over the forecast period of 2020 to 2030, notes Transparency Market Research.
Global Medically Supervised Weight Loss Service Market: Competitive Landscape
The global medically supervised weight loss service market is dominated by few players which makes the vendor landscape concentrated. Numerous top players are concentrated in the North American region.
They are expected to continue dominating the medically supervised weight loss service market by increasing outreach and awareness. Advertisements and merging of facilities with local fitness centers are some strategies that are set to propel global medically supervised weight loss services market in this regard.
Global Medically Supervised Weight Loss Service Market: Key Trends and Drivers
- At 1.9 billion people obese currently, the cases have tripled since 1975. Being overweight is a significant risk factor for increased morbidity and mortality from cardiovascular disease, diabetes and chronic diseases like osteoarthritis, liver and kidney disease, sleep apnea, and depression. The global population is becoming aware of these risks and is taking conventional steps to regulate their weight. Where conventional methods fall short, weight loss under medical supervision is finding an increased demand.
- Technology has reached common man, and this makes it possible for services to reach the end-user quickly. Between 2015 and 2020, 1.4 billion smart phones were sold, which allows people to access services they require at the convenience of a click. The medically supervised weight loss service is one of many healthcare services that are put up online for easy access, thereby giving an impetus to this market.
- Healthcare insurance is available in marketplaces in many regions around the globe, called healthcare insurance exchanges. The United States is a prominent region in this market, among others. This gives a boost to healthcare access by people and should indirectly benefit the medically supervised weight loss market.
Global Medically Supervised Weight Loss Service Market: Regional Analysis
North America and Europe are currently global leaders in the market owing to a robust healthcare infrastructure and growing awareness among the population about the ill effects of weight gain. Healthcare insurance exchanges here give impetus to the growth of medically supervised weight loss.
The Asia Pacific region (APAC) is fast growing in this market scenario as the regional population adopts sedentary lifestyle. A departure from healthy regional diets to fast food cultures is set to have the region witness a surge in obese people, requiring medically supervised weight loss services.