CAGR due to increase in the prevalence of obesity. According to WHO, obesity has been doubled since 2015. In 2014, around 13% of adults aged 18 years or above were obese, and the 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 US 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,
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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 device market has been segmented into the following:
· Hospitals
· Gastroenterology clinics
· Ambulatory surgical centers
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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. 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 the 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.
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Some of the players in 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.) to name a few.
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