Rising Pandemic of Complex Obesity Augments Demand for Obesity Surgery Devices
Published On : Aug 30, 2015
The global obesity surgery devices market stood at US$1,432.4 million in 2014. Displaying a CAGR of 9.6% from 2014 to 2020, the market is expected to reach a valuation of US$2,489.5 million in 2020.
Worldwide, increasing prevalence of obesity due to reasons such as long working hours at desk jobs, sedentary lifestyles with inadequate physical activity, changing food habits, and sometimes genetics, needs serious attention. This is because the condition, especially among children and young adults, increases the chance of contracting heart disease, stroke, and some form of cancer in later life.
Due to these reasons, obesity, which is a chronic condition, has to be controlled with a combination of medication, diet control, and exercise. However, obesity in some severe and complex form may need surgery. The rise in the incidence of the latter is one of the prime factors driving the obesity surgery devices market.
In obesity surgery, the size of the stomach is reduced in order to cap the amount of food it can hold. This leads to significant weight loss, due to the reduction in dietary intake, and helps keep a tab on obesity.
Obesity surgery has beneficial effect on several other medical conditions such as acid reflux, diabetes, hypertension, polycystic ovary syndrome (PCOS), low back pain, sleep apnea, and urinary incontinence, which also contributes to the obesity surgery devices market to some extent.
Selective Nature of Obesity Surgery Affecting Growth of Global Market
However, obesity surgery is associated with long-term and short-term complications, leading to apprehensions about the procedure. This is a major factor inhibiting the growth of the obesity surgery devices market.
Moreover, obesity surgery is not recommended for patients of cancer, cardiac disease, liver diseases, and renal and pulmonary insufficiencies. This reduces the patient pool eligible for obesity surgery, which in turn negatively affects the obesity surgery devices market.
In addition, high cost of the procedure, with insufficient insurance coverage, makes it unaffordable for many, another factor that restrains the growth of this market.
The global market for obesity surgery devices is analyzed on the basis of procedure, type of device, and regional markets.
By procedure, the market is segmented into sleeve gastrectomy, Roux-en-Y gastric bypass, gastric banding, and biliopancreatic diversion involving a duodenal stitch.
Roux-en-Y is the most common procedure performed for obesity treatment. With a market valuation of US$691.4 million in 2014, the Roux-en-Y procedure segment is expected to grow at a magnificent 10% CAGR and reach a valuation of US$1,225.9 million in 2020.
Staples, gastric bands, intragastric balloons, and gastric electrical stimulation are the device segments of the global market for obesity surgery. Amongst all, staples account as the largest device segment of the obesity surgery devices market.
Excess Consumption of High-calorie Food Majorly Related with Obesity in North America
On the geographical perspective, North America, Asia Pacific, Europe, and Rest of the World (RoW) are the key segments of the global obesity surgery devices market.
North America stands as the largest regional market for obesity surgery devices. In 2014, the obesity surgery devices market in the region was valued at US$968.7 million and is expected to reach US$1,665.2 million in 2020, growing at a 9.4% CAGR from 2014 to 2020.
In this region, rising obesity is a cause for declining health and is a major factor responsible for the increasing burden on the public health system.
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