Global Obesity Surgery Device Market is rising at a CAGR of 9.60% between 2014 and 2020 : PMR Report
Persistence Market Research has released a new research report on obesity-related medical devices, titled “Global Market Study on Obesity Surgery Devices: Asia-Pacific to Witness Highest Growth by 2020”. According to the report, the global obesity surgery devices market is rising at a CAGR of 9.60% between 2014 and 2020. The market was valued at US$1.4 bn in 2014. By the end of 2020, the global obesity surgery devices market is expected to reach US$2.5 bn.
As per findings released in the report, the global obesity surgery devices market is growing primarily due to the increase in the global population of the obese. The major factors that are contributing to the obesity epidemic are the increasingly sedentary lifestyles that the working-class population is experiencing, along with a growing attraction towards fast foods and junk foods. The prevalence of obesity is increasing in both adults as well as children, severely influencing the future of the global obesity surgery devices market.
The global obesity surgery devices market is directly related to the prevalence of the health complications that commonly occur among the obese. These include type-2 diabetes, multiple cardiac diseases, heightened risk of stroke, and certain types of cancer. The healthcare industry is experiencing a rise in the number of patients that are afflicted by these problems owing to their obesity.
The global obesity surgery devices market is therefore expected to grow rapidly as long as the unhealthy lifestyle is followed by people across the world. However, the global obesity surgery devices market is restrained due to several reasons, including the limited scope when it comes to using the devices. Owing to the selective nature of obesity surgeries, the tools created are highly unique and cannot be utilized in other obesity-related illnesses.
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From the perspective of the patient, the global obesity surgery devices market may be hampered due to the insufficient insurance coverage for obesity. This creates financial problems for those who are not insured.
Geographically, the global obesity surgery devices market is led by North America owing to the high rate of obesity in the region. Over 13% of the global population of the obese in 2013 were located in North America.
The CDC recently released a report, which is cited in the market study. According to the CDC, by 2004, 24.5% of Americans had contracted obesity-related issues, which further increased to 35.7% in 2011.
Owing to these conditions, the North America obesity surgery devices market was led by the Roux-en-Y gastric bypass surgery in terms of medical procedures.
Almost 52% of the population in the EU was overweight or obese in 2010, according to the Organization for Economic Co-operation and Development. This makes the Europe obesity surgery devices market a rapidly growing one for the time being.
The key players in the global obesity surgery devices market, as mentioned in the report, are IntraPace, Inc., MetaCure, Spatz FGIA, Inc., Aspire Bariatrics, Appolo Endosurgery, Inc., Medtronic, Inc., and Johnson & Johnson.
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