Digital weight loss solution vendors, such as Noom and WW International, will make more than US$3 billion globally by 2025. The addressable market is large, amounting to 1.5 billion overweight smartphone owners worldwide. The COVID-19 crisis is driving up the usage of mobile weight loss applications, reaching adoption rates of more than 13% in the most advanced country markets.
The mobile (digital) weight loss market is one of the biggest and most successful segments of digital health. Most users still pay privately, but payers have started to incorporate mobile weight loss solutions into their health plans. By 2025, mobile weight loss solution providers will generate more than US$ 3 billion of revenues.
The addressable market for digital weight loss services is large. There are already 1.5 billion overweight people globally who could access mobile weight loss solutions. The U.S. is by far the largest market. Today one out of eight overweight Americans with smartphones already use digital tools to manage his/her weight. The addressable markets in Asian markets are even bigger but adoption rates tend to be lower, at least today. European countries also represent a large market opportunity for digital weight loss solutions, with adoption rates in some countries already reaching 10%.
For digital weight loss companies, there are plenty of business opportunities to be explored. Their future looks bright, because:
Traditional weight loss companies have to shift to digital solutions and services as opposed to concentrating on existing services, such as onsite workshops, seminars, books, food subscriptions or video tutorials. The current COVID-19 crisis acts as an accelerator for this disruption. WW International, the leading traditional weight loss service provider, has already reacted, shifting the majority of their business to digital. All others will have to follow if they want to stay in the business.
Digital weight loss solution vendors will disrupt the global weight loss industry. It is time to place your bet.
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