Owing to obesity epidemic that has clutched the world, people are inclining towards surgical solutions for weight loss. The global obesity surgery devices market is expected to witness an outstanding 9.6% CAGR during the forecast period, 2014 to 2020. In 2014, the market revenue for obesity surgery devices was worth US $1.43 billion and is expected to account for US $2.48 billion by 2020 end. In terms of value the global market for obesity surgery devices, in 2014, was valued at US $1,432.4 million and is estimated to reach US $2,489.5 million by 2020 end.
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Factors fuelling the growth of the global market for obesity surgery devices include
- Increasing consumption of junk food, rising sedentary lifestyle and increasing weight gain among the population.
- Increasing obesity prevalence among children and adults in developing as well as developed countries.
The more the body weight, the more are the after effects faced by it such as high risks of type-2 diabetes, several forms of cancer, heart diseases and strokes. Obesity surgery is widely available for people who have excessive and complex obesity. Significant costs of obesity surgery and insufficient insurance coverage make it difficult for obesity surgery. In addition, the selective nature and complex procedure of obesity surgery devices resist the market growth of obesity surgery devices.
North America to Remain the Largest Market for Obesity Surgery devices
Region-wise, the global market for obesity surgery devices is categorised into North America (Canada & U.S.), Asia Pacific (India, Australia, Japan & China), Europe (U.K., Belgium, Germany, France, Sweden & Spain), and remaining regions of the world. North America has held its position as the largest market for obesity surgery devices. Following North America Is Europe. It is estimated that North America will remain lucrative for global obesity surgery devices market. The market value of North America for obesity surgery devices was worth US $968.7 million in 2014 and it is estimated to account for US $1.66 billion by 2020 end, growing at around 9.4% CAGR during the forecast period. Asia Pacific (APAC) is expected to grow fastest in the global market for obesity surgery devices over the forecast period. With respect to obesity prevalence, Asia Pacific holds its ground as the second largest region.
Roux-en-Y Gastric Bypass to Witness 10% CAGR during 2014 to 2020
Based on Procedure, the global market for obesity surgery devices is categorised into sleeve gastrectomy, duodenal switch biliopancreatic diversion, adjustable gastric banding, and Roux-en-Y gastric bypass. Owing to its incision-free nature, the prevalence of sleeve gastrectomy is increasing. This segment is estimated to grow fastest during the forecast period. Due to its minimally invasive nature, gastric bypass is estimated to foolproof its dominance over the global obesity surgery devices market. In 2014, the market of Roux-en-Y gastric bypass was worth US $691.4 million and is estimated to reach US $1.22 billion by the end of 2020. This segment is expected to exhibit 10% CAGR during the forecast period.
Staples Segment Remains Lucrative Over the Forecast Period
Based on obesity surgery devices, the market is categorised into gastric bands, staples, gastric electrical stimulation and intragastric balloons. The staples segment is estimated to hold its place as the largest segment, as compared to other segments. While, gastric electrical stimulation is expected to witness fastest growth during the forecast period.
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In order to eliminate the side effects and risks of traditional surgical procedures for obesity, leading market players are focusing on novel surgical techniques development. These market players include Medtronic Inc., Covidien Plc, TransEnterix Inc., Spatz FGIA Inc., IntraPace Inc., Allergan Inc., Semiled Ltd., Johnson & Johnson, Apollo Endosurgery Inc., Mediflex Surgical Product, Aspire Bariatrics, MetaCure, Intuitive Surgical Inc. and, USI Medical Inc.
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