Anti Obesity Devices Market
Obesity is a medical condition that can be defined as abnormal or excessive fat accumulation, which may have the negative effect on health. According to World Health Organisation, a person with BMI of 30 or more is generally considered as obese. Obesity increases the chances of diseases like chronic diseases, including diabetes, cardiovascular diseases, osteoarthritis, and certain types of cancers. Obesity mainly caused by excessive food intake, lack of physical, exercise, genetic inheritance, and rarely it occurs due to endocrine disorders, medications, and mental disorders. U.S. Food and Drug Administration approved the anti-obesity devices for the treatment of obesity. Obesity can be overcome by changing the diet conditions, and physical activities.
Global Anti Obesity Devices Market: 2018-2024
The global anti obesity devices, expected to grow at a significant CAGR due to increase in the prevalence of obesity. According to WHO, obesity has doubled since 2015. In 2014 around 13% of adults aged 18 years or above were obese, and cause of death of approximately 2.8 Mn people annually around the globe. Rising demand for less invasive procedures for obesity treatment has significantly affected the growth of anti obesity devices market. Similarly, increase in disposable income in developing countries, and recent product approvals from U.S. Food and Drug Administration for new anti obesity devices are the major factors boosting the growth of anti-obesity devices market. However, the side effects associated with the use of these devices, availability of medications for obesity, and product failure in some cases might hamper the growth of anti-obesity devices market over the forecast period.
Anti obesity treatment market segmented on the basis of product type, method of deployment, and end user
Based on product-type, anti obesity devices market has been segmented into the following:
- Gastric Bands
- Electrical Stimulation System
- Gastric Balloon System
- Gastric Emptying System
- Appetite Suppressors
Based on the method of deployment, anti obesity devices market has been segmented into the following:
- Trans-oral
- Endoscopy
- Surgery
Based on the end user, anti obesity devices market has been segmented into the following:
- Hospitals
- Gastroenterology clinics
- Ambulatory surgical centres
Global anti obesity devices market is in the nascent stage with local, and international players operating in the anti-obesity devices market. Conventionally, anti-obesity devices are expected to dominate in the obesity treatment market due to the ease of administration and lesser cost, and minimal invasiveness. FDA has approved the various types of anti-obesity devices, which may affect the growth of anti obesity devices market positively. For instance, In January 2015, FDA has approved the EnteroMedics Inc.’s Vbloc Maestro system intended to treat morbid obesity. Similarly, in February 2011, Allergan got approval for anti-obesity device Lap-band, the adjustable gastric band used in the treatment of obesity. With an increasing number of device approvals, the anti-obesity market is anticipated to have a positive outlook in the forecast period.
Geographically, the anti obesity devices market has been segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America dominates the markets followed by Europe and Asia-Pacific. North American region is witnessed significant growth owing to the rise in a number of obese patients, according to American Heart Association, 70% American adults are obese or overweight. Moreover, according to the WHO in the European region, in 2012, about 50% of adults are suffering from obesity, which plays a key role in the global anti-obesity devices market growth. The Asia Pacific region is a key market for global anti-obesity devices due to the increase in obese patients, improving healthcare expenditure, and higher investments in healthcare which is expected to fuel the market for anti obesity devices in Asia Pacific region.
Some of the players in anti obesity devices market are Apollo Endosurgery, Inc (U.S.), Medtronic. (Covidien PLC) (U.S.), EnteroMedics, Inc (U.S.), Cousin Biotech (France), Aspire Bariatrics Inc (U.S.), Obalon Therapeutics Inc (U.S.), and GI Dynamics (U.S.) to name a few
- In January 2017, GI Dynamics Inc.’s EndoBarrier receives German NUB reimbursement status 1 for type 2 diabetes and obesity therapy
Report Outline:
- The report provides granular level information about the market size, regional market share and forecast from 2017-2023
- The report covers in-detail insights about the competitor’s overview, key findings and their key strategies
- The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
- The report tracks recent innovations, key developments and startup’s details that are working in the industry
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
