Obesity Surgery Devices Market Poised for 6.4% CAGR Growth Through 2033, Reports Persistence Market Research

The global obesity surgery devices market has been experiencing significant growth over the years, driven primarily by the increasing prevalence of obesity and related health conditions such as diabetes, cardiovascular diseases, and hypertension. This market includes various types of devices such as gastric balloons, gastric bands, and stapling devices used in surgical procedures aimed at reducing body weight. With obesity rates soaring globally, the demand for effective weight loss treatments and surgical interventions has grown substantially.

As of 2022, the obesity surgery devices market was valued at approximately USD 1.64 billion. This figure is expected to rise at a compound annual growth rate (CAGR) of 6.4%, reaching an estimated value of USD 3.23 billion by 2033. The market's growth is further supported by advances in technology, the growing awareness of obesity's health risks, and increasing healthcare spending, especially in emerging economies.

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Key Highlights from the Report

The global obesity surgery devices market is expected to grow from USD 1.64 billion in 2022 to USD 3.23 billion by 2033.

The market is projected to grow at a CAGR of 6.4% from 2023 to 2033.

Stapling devices held a dominant market share of around 90.2% in 2022.

The market's penetration is particularly strong in North America, with the United States holding a significant share.

The rising incidence of obesity, especially in children and adults, is a key driver of market growth.

Increasing government initiatives and public awareness campaigns are supporting the demand for obesity surgery devices.

Market Segmentation

The obesity surgery devices market is categorized based on product type and end-users. The major product types include gastric balloons, gastric bands, and stapling devices. Among these, stapling devices have dominated the market, accounting for the largest market share in 2022, largely due to their widespread use in surgeries like gastric bypass and sleeve gastrectomy. These devices offer higher efficacy and fewer complications, which further drives their preference among surgeons and patients alike.

The end-user segment primarily includes hospitals, surgical centers, and clinics, with hospitals being the leading contributor. This is due to their ability to offer comprehensive weight loss solutions, including pre-surgical consultations, the surgery itself, and post-surgical follow-ups. Additionally, hospitals are equipped with advanced facilities that ensure better outcomes, which is crucial for patients opting for such life-changing surgeries.

Regional Insights

Regionally, North America, particularly the United States, holds a dominant position in the obesity surgery devices market. The high prevalence of obesity, particularly severe obesity, among the adult population has driven the demand for obesity surgery devices. Furthermore, the presence of key players in the region and the favorable regulatory environment, including FDA approvals, have contributed to the market's growth.

Europe also represents a significant market, with countries like Germany and the United Kingdom showing increasing adoption of obesity surgery devices. Germany, for example, saw an obesity prevalence of 53.5% among adults, which is expected to further propel demand for surgical treatments. Additionally, governmental initiatives and changing healthcare policies aimed at managing obesity in these regions are expected to sustain growth.

Market Drivers

Several factors are driving the growth of the obesity surgery devices market. The increasing prevalence of obesity worldwide is the primary driver. According to the World Health Organization (WHO), obesity is a major risk factor for many chronic diseases, including heart disease, diabetes, and certain cancers. The growing awareness of these health risks has led to a surge in demand for weight-loss surgeries.

Another significant driver is the technological advancements in obesity surgery devices, making the procedures less invasive and more effective. Minimally invasive procedures, which require smaller incisions and result in quicker recovery times, have become increasingly popular. This has made weight-loss surgeries more accessible and appealing to a broader range of patients.

Market Restraints

Despite the market's promising growth, several challenges could hinder its expansion. The high cost of obesity surgery devices and the overall cost of bariatric surgeries are significant barriers. These surgeries often require long-term post-operative care, which can add to the overall financial burden. Additionally, in many countries, insurance coverage for bariatric surgeries is limited, making it difficult for many potential patients to afford the treatment.

The lack of financial support for research and development of new, cost-effective devices may also limit the introduction of innovative products into the market. As the medical device industry faces high regulatory hurdles and substantial investment requirements, smaller companies may find it difficult to enter the market.

Market Opportunities

The obesity surgery devices market holds considerable opportunities for growth, especially in developing regions. The increasing adoption of bariatric surgery as a treatment for obesity-related diseases in countries like India, China, and Brazil presents a large untapped market. These regions are witnessing a rising incidence of obesity, particularly among children and young adults, due to changes in diet and lifestyle.

Moreover, the growing focus on preventative healthcare and obesity management programs by governments and private organizations offers opportunities for manufacturers of obesity surgery devices. Collaborations with healthcare providers and insurance companies to increase access to bariatric surgeries can further accelerate market expansion.

Reasons to Buy the Report

✔ Gain detailed insights into the obesity surgery devices market's growth trends and future projections.
✔ Understand the market's competitive landscape and key players' strategies.
✔ Learn about the regulatory and technological developments influencing the market.
✔ Identify the factors driving and restraining market growth to make informed business decisions.
✔ Understand the market's potential across different regions and product types.

Company Insights

Key players in the obesity surgery devices market include:

Medtronic PLC

Johnson & Johnson

Allergan, Inc.

Apollo Endosurgery, Inc.

ReShape Lifesciences, Inc.

Recent developments in the market include:

The FDA approval of ReShape Lifesciences' Gastro Intestinal Balloon Indicator for use in gastric and bariatric surgeries.

Medtronic's launch of its latest minimally invasive bariatric surgery devices designed to improve patient outcomes.

In conclusion, the obesity surgery devices market is poised for significant growth, driven by increasing obesity rates globally, technological advancements, and favorable healthcare policies. However, challenges such as high costs and limited financial support for surgery could hinder market expansion. With emerging opportunities in developing regions and continued innovation, the market offers promising prospects for stakeholders in the years to come.

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This release was published on openPR.