New York City, New York, Oct 08, 2015: The report “Global Market Study on Obesity Surgery Devices: Asia-Pacific to Witness Highest Growth by 2020”, recently published by Persistence Market Research, presents a detailed account of the global market for obesity surgery devices and its key elements. The report states that the market is moving along a promising growth path and will grow at a swift pace over the report’s forecast period.
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The report states that the market will grow at a CAGR of 9.6% between 2014 and 2020 and reach a net worth of US$2,489.5 million by 2020; the market had a net worth of US$1,432.4 million in 2014. The rising prevalence of obesity and other associated diseases that can arise as a consequence of obesity are the key forces driving the global obesity surgery devices market. According to the WHO, prevalence of obesity has more than doubled since 1980. There were more than 600 million obese adults (people above 18 years) in 2014 across the globe.
Increasing prevalence of a sedentary lifestyle among the global population, escalating cases of obesity in every age group, and widespread preference for junk food are rapidly leading the world to a state of an ‘obesity epidemic’. Studies show that obesity leads to an increased risk of heart diseases, strokes, type 2 diabetes, and some forms of cancer. Obesity has thus become one of the leading preventable causes of death across the world.
The global obesity surgery devices market covers a variety of surgical procedures and the devices that are required for carrying out these surgeries. A number of surgical procedures are widely available across the globe. The report studies the chief ones of these, including sleeve gastrectomy, biliopancreatic diversion with duodenal switch, adjustable gastric banding, and Roux-en-Y gastric bypass. Obesity surgery devices in the market studied in the report include gastric bands, intragastric balloons, staples, and gastric electrical stimulation. Key regional segments of the market studied in the report include North America, Europe, Asia Pacific, and the Rest of the World (RoW).
It is estimated that more than 13% of North America’s population was obese in 2011 and more than 50% of the overall population of Europe was obese in 2010. However, it is Asia Pacific that is being affected the most by obesity in recent times. The report states that China and India, the world’s two most populous countries, accounted for nearly 15% of the world’s obese population in 2013. Many countries in Southeast Asia and Western Pacific are also facing an epidemic-like situation of diseases associated with obesity, making Asia Pacific the most lucrative regional market for obesity surgery devices.
While growth prospects for the market look highly upbeat, some issues such as excessive cost of surgery and inadequate insurance coverage for surgeries, along with the selective nature of most of these procedures, are impeding the market’s growth.
Some of the key companies operating in the global obesity surgery market include Medtronic, Inc., Aspire Bariatrics, Johnson & Johnson, Apollo Endosurgery Inc., IntraPace Inc., MetaCure, and Spatz FGIA Inc.
Key points covered in the report
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
5) The report also provides porters five forces analysis of the market.
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