Global Obesity Surgery Devices Market is estimated to reach $3,567 Million by 2024; growing at a CAGR of 9.5% from 2016 to 2024. Obesity is accumulation of excess fat that would deteriorate the health of humans. Primary cause of obesity is reduced physical activity, high fat intake, and genetic inheritance. As stated by WHO, around 1.9 billion adults globally were overweight, out of them, about 600 million were found to be obese. Moreover, 41 million children below the age of 5 were found to be obese. Extreme obesity can be reduced by removing portion of stomach or decrease in size of stomach through sleeve gastrectomy or gastric bands. Furthermore, obesity surgeries also aid in many medical conditions including diabetes, sleep apnea, acid reflux, urinary stress incontinence, low back pain, hypertension, and polycystic ovary syndrome (PCOS).
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The global obesity surgery devices market is propelled by factors such as rising disposable income, growing popularity of fast foods, rising obesity endemic worldwide and increasing commonness of child obesity. Though, high cost of procedure and selective nature of obesity surgery may hamper the growth of the market. Furthermore, rising government initiatives to increase awareness about the ill effects of obesity and need for minimum invasive procedures could offer future market scope in coming years.
The global obesity surgery devices market is categorized into devices, procedure, and geography. The device segment is bifurcated as gastric electrical stimulator, staples, gastric bands, intragastric balloon, and others. Furthermore, the market is segmented by procedure as Roux-en-Y gastric bypass, biliopancreatic diversion with as duodenal switch, adjustable gastric banding, sleeve gastrectomy, and others.
Based on geography, global obesity surgery devices market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others while RoW is bifurcated into South America, Middle East, and Africa.
The key market players include TransEnterix Inc., Allergan Inc., Mediflex Surgical Products, Johnson and Johnson, Aspire Bariatrics, Inc., IntraPace Inc., Medtronic Inc., Cousin Biotech, Spatz FGIA Inc., and EnteroMedics Inc., among others.
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