Increasing Prevalence of Obesity Driving Obesity/Bariatric Surgery Devices Market Growth

The global obesity/bariatric surgery devices market revenue stood at $1.4 billion in 2016, and it is expected to rise to $2.8 billion by 2023. Furthermore, the market will progress at a CAGR of 9.9% from 2017 to 2023 (forecast period), as per the estimates of the market research company, P&S Intelligence. The major growth drivers of the market are the rising incidence of obesity, owing to unhealthy diets and lifestyle changes of people, increasing public awareness about bariatric surgeries, and rapid technological advancements being made in bariatric surgery devices across the world.

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According to the data released by the American Society for Metabolic and Bariatric Surgery (ASMBS), the number of bariatric surgeries carried out in the U.S. surged from 158,000 in 2011 to 196,000 in 2015. Moreover, there have been several technological advancements and innovations in the obesity surgery devices industry in recent years, owing to the rising incidence of obesity. For example, GastriSail, which is a device used in sleeve gastrectomy, was launched by Medtronic plc in June 2015. This device can also be used as a standalone device.

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Furthermore, the Childhood Obesity Awareness program was launched by the American Association of Physicians of Indian Origin (AAPI) in June 2013. These programs are propelling the popularity of obesity surgeries, which is, in turn, fueling the growth of the obesity/bariatric surgery devices market. Depending on procedure, the market is divided into minimally invasive and non-invasive. Sleeve gastrectomy, biliopancreatic diversion surgical procedures with a duodenal switch (BPD-DS), gastric bypass, and gastric banding are the most widely performed minimally invasive surgeries.

Hence, it can be safely said that the market will demonstrate rapid expansion in the coming years, primarily because of the rising incidence of obesity, growing public awareness about various surgical procedures that can reduce fat and cause weight loss, mushrooming population of geriatric people, and the development of technologically advanced obesity surgery devices all over the world.

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This release was published on openPR.