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Obesity Surgery Devices Market to hit $2.83 billion by 2020: Market Size Forecasters

Press Release   •   Jan 16, 2018 05:08 EST

Obesity is a medical condition in which excess fat is accumulated in the body. This accumulation of fat may have a negative impact on health. Obesity is associated with complex disorders such as diabetes, cardiovascular diseases, osteoarthritis and a certain type of cancer etc. Obesity is combined results of food overtake, lack of physical activity or a sedentary lifestyle and genetic factors. People with body mass index (BMI) greater than 30Kg/m2 are generally considered obese. Obesity is one of the leading preventable causes of death. Changes in diet and daily physical exercise help in treating obesity.

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As per World Health Organization, worldwide obesity has nearly doubled since 1980. In 2008, more than 1.4 billion adults, 20 and older, were overweight. Of these over 200 million men and nearly 300 million women were obese. 35% of adults aged 20 and over were overweight in 2008, and 11% were obese. 65% of the world’s population lives in countries where overweight and obesity kills more people than underweight. Overweight and obesity are the fifth leading risk of global deaths. At least 2.8 million adults die each year as a result of being overweight or obese. 44% of the diabetes burden, 23% of the ischemic heart disease burden and between 7% and 41% of certain cancer burdens are attributable to overweight and obesity. More than 40 million children under the age of five were overweight in 2011. Obesity is preventable.

Increasing prevalence of obesity across the globe is expected to be the major driver for the global obesity surgery devices market. In addition, increasing the prevalence of obesity-associated chronic diseases coupled with increasing awareness about obesity-associated chronic diseases among adults is expected to trigger the growth of global obesity surgery devices industry in the coming years. However, the high cost of surgeries coupled with lower disposable incomes may pose the challenge to obesity surgery devices market. Nevertheless, obesity-related disorders pose risk to the health and thus demand obesity surgery devices products coupled with a huge investment in obesity surgery devices across the globe are expected to act as an opportunity for obesity surgery devices market in near future.

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Based on surgery procedure, obesity surgery devices market has been segmented into gastric bypass surgery, sleeve gastrectomy surgery, gastric banding surgery, and others. Gastric bypass surgery segment holds a maximum share of global obesity surgery devices market.

Based on device type, obesity surgery devices market is classified into adjustable gastric bands, intragastric balloons, clip appliers, surgical staples, trocars and others.

North America is expected to remain the dominant region over the forecast period. Increasing obese population base and increasing awareness are expected to boost the market in this region. Europe was the second largest market followed by Asia Pacific. Asia Pacific is expected to show fastest growth rate during the forecast period while Latin America market is projected to grow at a moderate rate during the forecast period. The Middle East and Africa are also expected to experience noticeable growth in the years to come.

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Some of the key players in obesity surgery devices market include Allergan, Inc., Medtronic, Inc., EnteroMedics, Inc., Cousin Biotech, Johnson & Johnson, Mediflex Surgical Products, TransEnterix Inc., Aspire Bariatrics and Spatz FGIA Inc. among others.

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