Overview of Obesity Surgery Devices
The global obesity surgery devices market is witnessing a significant growth as the epidemic of obesity continues to rise due to sedentary lifestyle and bad eating habits. The problem of obesity is posing a great challenge for both, developed and developing nations’ health standards. Unfortunately, the obesity rate is not only high amongst adults, but also seen growing at an alarming rate in children. As obesity encourages several other degenerative disorders such as typ-2 diabetes, cardiovascular diseases, cancer, blood pressure problems, and also exposes a person to a risk of a stroke.
As perils of obesity continue to rise, the number of people seeking treatment for it also continues to rise. Obesity treatment is divided into severe and complex obesity treatment. Demand for such treatments is leading to expansion of obesity surgery devices market. However, lack of awareness of obesity, absence of health insurance, and huge expense of the treatment are factors affecting this market. The biggest inhibitor for this market is selective nature of the surgery, due to uniqueness and complications of the every case.
The report published by Persistence Market Research on obesity surgery devices market covers all the areas of business. It offers a comprehensive view to its readers, and presents granular view on the subject. The report is complete with SWOT analysis, which identifies the strengths, weaknesses, opportunities, and threats this market faces. The report as also been compiled taking into account the inferences drawn with the help of Porter’s five forces analysis. This report has especially written for manufacturers, medical practitioners, vendors, and policy makers who need to make well-informed business decisions. The accurate information makes the report a worthy tool to base important decisions that will change the course of business, and impact the economy.
Market Segmentation of Global Market for Obesity Surgery Devices
The obesity surgery devices market has been segmented on the basis of procedure, devices, and geography. The market segmentation on the basis of procedure is inclusive of Roux-en-Y gastric bypass, sleeve gastrectomy, adjustable gastric banding, and biliopancreatic diversion with duodenal switch. The division as per devices is as follows: gastric electrical stimulation, intragastric balloons, gastric bands, and staples. In terms of geography, the market is further categorized North American, European, Asia Pacific, and Rest of the World. The report also provides a country-specific segmentation within the aforementioned regions.
Market for Global Market for Obesity Surgery Devices
The market for obesity surgery devices is valued at $1,432.4 million in 2014. However, by 2020 it is expected to reach a valuation of $2,489.5 million. This growth rate is calculated at a CAGR of 9.6% from 2014 to 2020. North America is expected to be biggest market in the coming six years as the problem of obesity continues to rise in the region. It accounts for 13% of obese people in 2013.
Centers for Disease Control and Prevention (CDC) states, about 24.5% of Americans were victims of obesity in 2004, which reached 35.7% in 2011. The most commonly used corrective surgery for obesity in 2011, in North America, was Roux-en-Y gastric bypass.
According to Organization for Economic Co-operation and Development (OECD), in 2010, it witnessed 52% of European Union’s population being overweight and obese. In Asia too, obesity has reached a point of an endemic with India and China accounting for world’s 15% obese population in 2013. Western Pacific regions and those in South East Asia are witnessing a surge in diseases related to obesity such as diabetes and cardiovascular disorders.
The report also gives readers a perfect sketch of the competitive landscape in the global market for obesity surgery devices. It profiles of key players such as Spatz FGIA Inc., Medtronic Inc., Apollo Endosurgery Inc, Aspire Bariatrics, Johnson & Johnson, MetaCure, and IntraPace Inc.
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