The global anti-obesity devices market size was valued at USD 2.72 billion in 2021, growing at a CAGR of 10.1% during the forecast period 2022-2028. by Product Type (Gastric Bands, Electrical Stimulation System, Gastric Balloon System, Gastric Emptying System, Appetite Suppressors), by Method of deployment (Trans-oral, Endoscopy, Surgery), by End User (Hospitals, Gastroenterology clinics, Ambulatory surgical centers), and Geography- Global/Region/Country Forecast to 2028.” The global anti-obesity devices market size was estimated at USD 2.72 Bn in 2021, growing at a CAGR rate of 10.1% during the forthcoming years 2022-2028.
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Growing disposable income in developing countries is bolstering the Anti Obesity Devices Market
Obesity can be defined as excessive fat accumulation causes negative effect on health. It is a medical condition increases the chances of illnesses such as certain types of cancer, diabetes, osteoarthritis and cardiovascular diseases. It occurs due to the lack of physical exercise, excessive food intake, endocrine medications, disorders and genetic inheritance. Anti-obesity devices are approved by the U.S. Food and Drug administration to treat obesity. Minimal invasiveness, lesser cost and ease of administrations are the factors anticipated to fuel the anti obesity devices market. FDA has approved the different kinds of anti-obesity devices that can affect market growth positively. For instance, In January 2015, FDA has approved 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
The global anti obesity devices market anticipated to witness considerable CAGR rate because of the increasing prevalence of obesity. Recent product approvals from U.S. Food and Drug Administration for novel anti obesity devices and growing disposable income in developing economies are the leading factors fuelling the market growth. But, product failure in a few cases, the side effects associated with the use of such devices and availability of medications for obesity might restrict the market growth over the forthcoming years.
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North America accounted for major share in the Anti Obesity Devices Market
On the basis of regional analysis, the anti obesity devices market has been classified into following regions such as Europe, North America, Latin America, Asia Pacific, Middle East and Africa. Among all these regions, North America region is witnessed considerable growth due to the increasing number of obese patients according to the American Heart Association. Furthermore, almost 50% of adults are suffering from obesity problem according to the WHO in the Europe region in 2012 and this factor plays leading role in the global market. Asia Pacific market is the foremost market because of the higher investments in healthcare; improve in healthcare expenditure and increasing obese patients.
Competitive Analysis - Anti Obesity Devices Market
A few players operating in the anti obesity devices market are Allergan, Inc. (U.S.),\Medtronic. (Covidien PLC) (U.S.), EnteroMedics, Inc (U.S.), Cousin Biotech (France), Surgical IOC (Peters Surgical SAS) (France), PARE Surgical Inc. (U.S.) and GI Dynamics (U.S.). Key players in the market focus on following key strategies.
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