Obesity Intervention Devices Market By Device (Gastric Bands, Gastric Balloon, Gastric stimulation system), By End User (Hospitals, Clinics): Global Opportunity Analysis and Industry Forecast, 2021-2031
The obesity intervention devices market valued for $243.23 million in 2021 and is estimated to reach $407.62 million by 2031, exhibiting a CAGR of 5.3% from 2021 to 2031. Obesity intervention devices are medical devices used to treat obesity. These devices are designed to reduce calorie intake or modify how the body processes food, leading to weight loss. It received approval from Food and Drug Administration (FDS) for weight loss that leads to improvement or remission of type 2 diabetes. Obesity intervention device suggested for use in weight reduction for severely obese patients with a body mass index (BMI) of at least 35 or a BMI of at least 30 with one or more severe comorbid conditions. The commonly used obesity intervention devices are gastric bands, gastric balloons, and gastric stimulation system. These obesity intervention devices are used for weight loss in adult patients, aged 18 and older.
The obesity intervention devices market growth is driven by increase in number of market players who manufacture devices for obesity intervention. In addition, rise in the prevalence of obesity and increase in the awareness among people regarding adverse effects of obesity are anticipated to fuel the demand in the market. For instance, according to World Health Organization (WHO), in 2022, it was reported that more than 1 billion people worldwide are obese, which includes 650 million adults, 340 million adolescents, and 39 million children. This number is still increasing. WHO estimates that by 2025, approximately 167 million people, which includes adults and children, are expected to become less healthy as they are overweight or obese. Thus, this factor is expected to fuel the demand for obesity intervention devices and boost the growth of market.
In addition, adverse effects associated with obesity fuel the demand for obesity intervention devices and drives the growth of market. For instance, being overweight or obese can increase the risk of type 2 diabetes, hypertension, and cardiovascular diseases. In addition, obesity leads to serious illnesses such as sleep apnea, fatty liver disease, gallstones, and psychological problems such as depression, anxiety, and other mental health issues. Thus, these factors are anticipated to foster the demand for weight loss procedures and fuel the growth for obesity intervention devices market.
Moreover, rise in awareness among people regarding availability of obesity intervention devices and treatment for obesity are expected to boost the market growth during the forecast period. For instance, in November 2020, Practo, India’s leading integrated healthcare company, witnessed a staggering increase of 550% in the number of obesity-related queries. This indicates surge in awareness about obesity among people and an increase in the knowledge of treatments such as bariatric surgeries, obesity intervention devices, and diets that are related to obesity. The top searched queries give an understanding of how people are aware and concerned of problems such as body mass index (BMI) levels, and the various diets.
On the other hand, side effects associated with obesity intervention devices and procedures related to obesity intervention are anticipated to hamper the growth of market. For instance, side effects of gastric banding such as nausea & vomiting, abdominal pain, bloating, diarrhea, excess gas, heartburn, intestinal obstruction, bleeding, infection, and perforation of the stomach wall are expected to restrain the growth of obesity intervention devices market.
However, increased demand of medical services in the developed countries such as U.S., Canada, & Germany and growth opportunities in emerging markets are expected to create immense opportunities for obesity intervention devices during the forecast period.
The obesity intervention devices market is segmented on the basis of device, end user, and region. By device, the market is fragmented into gastric band, gastric balloons, and gastric stimulation system. By end user, the market is bifurcated into hospitals and others. The others segment is further classified into gastroenterology clinics and ambulatory surgical centers.
Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Major key players that operate in the global obesity intervention devices market are Apollo Endosurgery, Reshape Lifesciences, GI Dynamics, Allergan, Cousin Biotech, Johnson & Johnson, Spatz FGIA Inc., A.M. I GmbH, Allurion Technologies, Inc., and Endalis. Key players operating in the market have adopted product approval and others as their key strategies to expand their obesity intervention devices market share.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the obesity intervention devices market analysis from 2021 to 2031 to identify the prevailing obesity intervention devices market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the obesity intervention devices market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global obesity intervention devices market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy DeviceGastric Bands
Gastric Balloon
Gastric stimulation system
By End UserHospitals
Clinics
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Apollo Endosurgery
Cousin Surgery
Spatz FGIA Inc
GI Dynamics
Abbvie Inc (Allergan)
Endalis Laboratoire
Allurion Technologies, Inc.
A.M.I. GmbH
ReShape Lifesciences Inc
Johnson & Johnson
Please Note: It will take 7-10 business days to complete the report upon order confirmation.