Obesity Surgery Devices Market
Global obesity surgery devices market report published by Accurize Market Research forecast that the global market is expected to reach $41 billion by 2024; growing at a CAGR of 9.2% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Growth in disposable income of consumers and increasing uptake of fast-food global drives the growth of the market
The upsurge in disposable income, increasing uptake of fast food, global obesity endemic, and the growing prevalence of childhood obesity fuels the demand for the global obesity surgery devices market. Moreover, rising awareness among overweight people in developed regions about various ill effects of obesity also boosts the growth of the market.
The global obesity surgery devices market has been bifurcated on the basis of procedure, devices, and geography. The market is segmented by a procedure as Roux-en-Y gastric bypass, sleeve gastrostomy, adjustable gastric banding, biliopancreatic diversion with a duodenal switch, and others. Furthermore, the devices segment is bifurcated as staples, gastric bands, gastric electrical stimulator, intragastric balloon, and others.
By geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in the U.S., Canada, and Mexico whereas Europe segment consists of the UK, Russia, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others while RoW is bifurcated into South America, the Middle East, and Africa.
â€œRoux-en-Y gastric bypass accounted for the largest market share in the procedure segment", says Accurize
By procedure segment, Roux-en-Y gastric bypass held the largest market share, whereas sleeve gastrostomy dominated with fastest CAGR.
â€œNorth America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America accounted for the major market share of 67.1% in 2017, followed by Europe with 19.2%. In terms of growth, Asia-Pacific is expected to attain the fastest CAGR, driven by high consumption of fast food, the growing popularity of medical tourism, and improved healthcare infrastructure.
Top players in the market
The key market players include TransEnterix Inc., Medtronic Inc., EnteroMedics Inc., Allergan Inc., Johnson and Johnson, Aspire Bariatrics, Inc., Spatz FGIA Inc., Cousin Biotech, Mediflex Surgical Products, and IntraPace Inc.among others.