Market Trends of Global Weight Management Devices Industry
This section covers the major market trends shaping the Weight Management Devices Market according to our research experts:
Cardiovascular Training Equipment is Expected to Witness a Healthy Growth Over the Forecast Period
Cardiovascular training equipment includes a wide range of equipment that involve all cardio-related exercises. Cardiovascular exercises not only have positive effects on overall health but also greatly impact memory and learning. Such factors are expected to contribute to the growth of the studied segment over the forecast period.
According to the WHO data in October 2022, a healthy adult must engage in moderate-intensity cardiovascular exercise for around 150 minutes per week. These exercises help strengthen the heart, increase the number of red blood cells, reduce the number of carbohydrates in muscles, and enhance the overall aerobic metabolism process. Such benefits of cardiovascular fitness management are expected to drive the demand for cardiovascular training, thereby contributing to the growth of the studied segment over the forecast period.
The strategic initiatives of the market players, such as product launches, are expected to contribute to the growth of the studied segment over the forecast period. For instance, in October 2021, SOLE and STUDIO launched a smarter cardio experience to deliver a connected fitness membership to its customers. There is also a wide acceptance of treadmills as cardiovascular fitness devices for home exercise and is considered one of the basic home gym equipment globally. Furthermore, the high growth is due to several factors, such as growing accessibility to gyms, continuous technological developments in equipment, and easy availability of equipment.
North America is Expected to Dominate the Weight Management Devices Market During the Forecasted Period
The market in North America has been growing due to several major factors that have helped increase the weight management devices market. The major factors include the rising prevalence of obesity, increasing sedentary lifestyles, and rising demands for fitness among individuals. For instance, as per the NIH report in June 2021, among adults aged 20 and over, the prevalence of obesity was 41.9%, severe obesity was 9.2%, and diabetes was 14.8% in the United States. The CDC has identified obesity as a leading cause of preventable death in the United States, and it is one of the leading causes of chronic diseases both worldwide and in the United States. Obesity-related disorders, known as comorbidities, include cardiovascular diseases, diabetes, musculoskeletal disorders, and some cancers. The increase in the prevalence of obesity among the population and the high risk of chronic disorders is expected to drive the demand for weight management devices, thereby contributing to the growth of the market.
Similarly, the growing need for weight management devices due to the high incidence of various chronic diseases due to obesity among the Canadian population is expected to contribute to the growth of the market. For instance, as per a BMC article published in April 2021, the prevalence of multimorbidity of chronic diseases was 33% and there was an increase in multimorbidity for those obese or overweight. Therefore, the rising pace of obesity and chronic diseases makes it necessary to advocate weight loss programs and obesity management. The rise in health concerns, high income, and technological advancements are driving the expansion of the market.
Additionally, the establishment of fitness centers in this region is expected to drive the demand for advanced weight management devices, thereby contributing to the growth of the market. For instance, in July 2022, the First Mini Planet Fitness center was launched in Canada. This fitness center was included with the donation of 28 pieces of cardio equipment, including high-end treadmills and others.
