Obesity is a medical condition in which excessive fats get deposited in the body that may impact overall health. Any individual with body mass index (BMI) greater than 30 kg/m is considered as obese. Excessive deposition of fat in the body increases chance of developing various diseases including life threatening diseases such as diabetes, cardiovascular disorders, certain types of cancer and osteoarthritis. Obesity is primarily caused due to excessive intake of calories, lack of physical activities and genetic hereditary. Childhood obesity is associated with higher chance of premature death and disability in adulthood. Obese people are 10 times more likely to develop type 2 diabetes and cancer such as kidney and liver cancer. These complications are directly caused by obesity or through mechanism sharing a common cause such as sedentary lifestyle and unhealthy diet.
Obesity can be effectively managed through surgical and non-surgical methods such as use of drugs and making changes in lifestyle. Weight loss drugs including diethylpropion and lorcaserin alter the way by which brain regulates urge to eat leading to decreased appetite. These medicines along with lifestyle changes results in effective weight loss. Surgical fat removal procedures such as Gastric bypass surgery are used when patients doesn’t respond to drugs or lifestyle changes. During surgical procedure, small part of stomach is connected to intestine to decrease the amount of fat body can take or store, leading to weight loss.
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Increasing obesity rate, sedentary lifestyle and technological advancements improving success rate of surgeries is expected to propel growth of the market. Furthermore increasing awareness about obesity and its related impact on health will drive growth of the obesity treatment market. According to study conducted by World Health Organization in 2014, around 1.9 billion adults of aged 18 and more were overweight out of which around 600 million people were obese whereas around 41 million children under the age of 5 were overweight. It is projected that by 2050, nine out of 10 adults will be overweight or obese. Such high prevalence will increase demand for surgical as well as non-surgical methods for treating obesity.
Major players operating in the global market include Orexigen Therapeutics, Inc., Ethicon, Inc., Atkins Nutritionals, Inc., Herbalife Ltd., Apollo Endosurgery, Inc., Johnson Health Technology, Ltd., and Technogym Spa. These companies are focusing on development and commercialization of new combination drugs and safety product for gaining competitive edge over other players in the market. For instance in May 2016, Apollo Endosurgery, Inc., has launched ORBERA coach platform. ORBERA is non-surgical weight loss procedure especially designed for adult people suffering from moderate to heavy obesity. This treatment is specifically useful for people which show no response to other forms of treatments such as exercise and pharmaceutical interventions.
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Although lifestyle changes aim at reducing calorie intake and increasing energy expenditure is significant for obesity management, however new technological innovations such as digital health technology will provide ample growth opportunities for market players. Wearable trackers are those devices that track physical activity. These devices collect information and provide feedback via smartphones. Furthermore, software may become so sophisticated that it can predict when people are likely to run into trouble by tracking health behaviors. Such technological advancements will provide lucrative growth opportunities for dominant as well as emerging players.
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