Global Obesity Surgery Devices MarketReport, published by Variant Market Research, forecast that the global market is expected to reach $3,567 Million by 2024 from $1,728 Million in 2016, growing at a CAGR of 9.5% from 2016 to 2024. By geography, Asia-Pacific and Europe are expected to grow at a CAGR of 11.3% and 9.7%, respectively, during the forecast period.
"Obesity Surgery Devices Market (Roux-en-Y Gastric Bypass, Sleeve Gastrectomy, Adjustable Gastric Banding, Biliopancreatic Diversion with As Duodenal Switch; Staples, Gastric Bands, Gastric Electrical Stimulator, Intragastric Balloon; North America, Europe, Asia-Pacific, and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024"
Some of the factors driving the growth of the global obesity surgery devices market include rising consumption of fast-food, rising disposable income, obesity endemic worldwide, and growing occurrence of childhood obesity. Additionally, growing awareness and mounting demand for less invasive surgeries would provide growth opportunities for the market in the coming years. Though, factors including selective nature of obesity surgery and high procedural costs may limit the growth of the market.
Procedure, device, and geography are the key segments considered in the global obesity surgery devices market. The market is bifurcated by procedure as Roux-en-Y gastric bypass, sleeve gastrectomy, adjustable gastric banding, biliopancreatic diversion with as duodenal switch, and others. Among which, Roux-en-Y gastric bypass held the largest market share, while sleeve gastrectomy dominated with fastest CAGR. Furthermore, devices segment is bifurcated as staples, gastric bands, gastric electrical stimulator, intragastric balloon, and others. Staples held the highest share in 2016, followed by gastric bands.
Geographically, global obesity surgery devices market is bifurcated into North America, Europe, Asia-Pacific, and RoW. North America accounted the largest market share of 67.1% in 2016, followed by Europe with 19.2%. In terms of growth, Asia-Pacific is anticipated to attain the fastest CAGR, driven by high consumption of fast food, growing popularity of medical tourism, and improved healthcare infrastructure.
Major market players operating in the market include Allergan Inc., Johnson and Johnson, Cousin Biotech, Mediflex Surgical Products, Aspire Bariatrics, Inc., Spatz FGIA Inc., TransEnterix Inc., Medtronic Inc., EnteroMedics Inc., and IntraPace Inc., among others.