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Obesity Surgery Devices Market to Reach a Valuation of US$ 2.48 Bn in 2020
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Globally, the obesity surgery devices market is witnessing significant growth due to increasing obesity epidemic and increasing sedentary lifestyle and junk food habits. Increasing prevalence of obesity among children and adults is posing a threat in both developed and developing nations. Excess body weight directly contributes to increasing risk of stroke, heart diseases, type-2 diabetes and some forms of cancer. Obesity surgery is a broadly available treatment for persons with severe and complex obesity. However, inadequate insurance coverage for the procedure and excessive cost of surgery often makes it unaffordable. In addition, selective nature of obesity surgery, due to its complications, restricts growth of obesity surgery devices market. The global obesity surgery device market is estimated at USD 1,432.4 million in 2014. It is likely to grow at a CAGR of 9.6% from 2014 to 2020 to reach USD 2,489.5 million in 2020.
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North America is facing serious public health problems due to obesity. The U.S. accounted for 13% of obese persons worldwide in 2013. Similarly, according to the Centers for Disease Control and Prevention (CDC), 24.5% of Americans were suffering from obesity in 2004 and this increased to 35.7% in 2011. In 2011, Roux-en-Y gastric bypass was the most common procedure in North America.
In Europe, obesity is a major public health challenge in Europe. According to the Organization for Economic Co-operation and Development (OECD) in 2010, approximately 52% of the population in the European Union was obese or overweight.
However, in Asia obesity has reached epidemic proportions in many countries in Asia Pacific. South East Asia and Western Pacific regions are facing an epidemic of obesity-associated diseases such as cardiovascular disorders and diabetes. China and India accounted for around 15% of the world’s obese population worldwide in 2013.
Johnson & Johnson, Medtronic, Inc., Apollo Endosurgery Inc, Aspire Bariatrics, Spatz FGIA Inc., MetaCure and IntraPace Inc are some of the major players of obesity surgery devices market.
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