Global Anti Obesity Devices Market is Expected to Reach US$ 3,245.6 Mn by 2025, Surge in R&D for the Development of Newer Products
“The Global Anti-Obesity Devices Market is expected to reach US$ 3,245.6 Mn by 2025 owing to growth in R&D for the development of newer products”
The global anti-obesity devices market is expected to reach US$ 3,245.6 Mn by 2025. In medical terminology obesity is defined as a condition in which there is abnormal or excessive fat accumulation, which may have the negative effect on health. According to World Health Organization (WHO), a person with BMI of 30 or more is generally considered as obese. The major factor which is driving the growth of the global anti-obesity devices market is lack of exercise. In today’s workaholic environment people are so busy with their work that they don’t get the time to do even minimal exercise, this leads to obesity. Obesity don’t come alone it brings other disease conditions with it such as heart disease, high blood pressure, stroke, and many more. Furthermore, the global anti-obesity devices market will grow because of improved healthcare facilities, continuous research for the launching of new products, and increased number of approvals from the FDA. On the flip side, less success rate and withdrawal of centrally acting products, not favorable reimbursement policies hamper the market growth. Additionally, a long and short term complication of the surgery restricts the patients from opting it.
Global anti-obesity devices market is segmented on the product type, method of deployment, end user, and region.
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Gastric Bands Dominate the Global Anti-Obesity Devices Market
Based on the product type, global anti-obesity devices market is segmented into gastric bands, electrical stimulation system, gastric balloon system, gastric emptying system, and appetite suppressors. Gastric bands dominated the global anti-obesity devices market. A laparoscopic adjustable gastric band, commonly called a lap-band, A band, or LAGB, is an inflatable silicone device placed around the top portion of the stomach to treat obesity, intended to decrease food consumption. Its effectiveness in losing weight has increased its popularity among the patients. The average gastric banding patient loses 500 grams to a kilogram (1–2 pounds) per week consistently.
North America Leads the Global Anti-Obesity Devices Market
PBI’s global anti-obesity devices market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America dominated the global anti-obesity devices market through 2014-2018 and expected to dominate over 2019-2025 due rising obese population. According to the American Heart Association, 70% American adults are obese or overweight. Being obese or overweight puts you at a higher risk health related problems such as high blood pressure, stroke, heart diseases, diabetes, and many more. Children are also facing the problem of obesity; about 13 million of US children belonging to age group 2-19 years are obese. After North America, Europe dominates the global anti-obesity devices market. According to WHO’s report published in 2012, approximately 50% European adults suffered from obesity. The people are suffering from obesity because of the lifestyle they are following. Asia Pacific anti-obesity devices market is also expected to grow in the forecast period due to increase in obese patients, improving healthcare infrastructure, and emerging economies.
Launch of newer products, and strategic alliances are the key strategies adopted by market players
Global anti-obesity devices market further reveals that the key player’s increasingly adopting strategies such as launch of newer products, and long term alliance to improve market revenue share and gaining significant geographic presence across the region.
For instance, in January 2017, GI Dynamics Inc. received German NUB reimbursement status 1 for its product “EndoBarrier”. It is used in type 2 diabetes and obesity therapy.
Key player’s profiles in the report 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.).
Precision Business Insights (PBI) in its report titled “Global Anti-Obesity Devices Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
By Product Type
- Gastric Bands
- Electrical Stimulation System
- Gastric Balloon System
- Gastric Emptying System
- Appetite Suppressors
By Method of Deployment
By End User
- Gastroenterology clinics
- Ambulatory surgical centers
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
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