New York: A recent Persistence Market Research (PMR) report estimated that obesity surgery devices reported sales of about US$1,432.4 million in 2014. By 2020, obesity surgery devices will be a market worth US$ 2,489.5 million, expanding at a 9.6% CAGR between 2014 and 2020.
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The World Health Organization (WHO) defines people with a body mass index (BMI) of 25 or more as being overweight, and those with a BMI of 30 or more as being obese.
These eye-opening figures lay a strong foundation for the growth of the global obesity surgery devices market. Let’s take a look at the other direct and indirect factors that will lead to the expansion of the obesity surgery devices market over the next few years:
- The endemic called obesity: Based on the WHO’s definition of obesity, globally over 1.9 billion adults were reported to be overweight. Of these, 600 million were obese. The majority of the global population lives in countries where obesity and overweight are a greater killer than underweight. According to the European Association for the Study of Obesity, at least 2.8 million adults succumb to overweight or obesity each year. The higher the number of obese people in the world, the more is the demand for obesity surgeries. These factors ultimately create a high need for obesity surgery devices.
- Unhealthy food habits: The Centers for Disease Control and Prevention found that between 2007 and 2010, about 11.3% of the daily calories consumed by adults in the United States came from fast food. However, this figure was observed as being lower than that collected between 2003 and 2006, where adults in the U.S. were found to obtain 12.8% of their daily calorie content from fast food. While these figures pertain to the United States, the consumption of fast food is on an uptick elsewhere in the world too, especially in developing countries where urbanization has caused consumers to lead hectic lifestyles, making fast food a convenient option. Fast food has been linked to obesity in numerous studies, and this acts as an indirect contributor to the obesity surgery devices market.
- Lack of exercise: Obesity and lack of exercise often go hand-in-hand. The World Health Organization recognizes physical inactivity as the fourth highest risk factor contributing to global mortality rates worldwide, leading to about 3.2 million deaths. Besides obesity, physical inactivity can lead to cardiovascular diseases, cancer, and depression. As more and more people lead sedentary lifestyles, the risk of obesity reaches alarming levels. Consequently, the growth of the obesity surgery devices market can be linked to lack of exercise.
- Childhood obesity is a harsh reality: However, obesity isn’t a disease that affects only adults. Children are increasingly being diagnosed with obesity, and in 2013, the WHO reported 42 million children (5 years or younger) as being obese. A growth in the numbers of pediatric surgeries for combating obesity has been reported by several medical associations. This is yet another reason for the increasing sales of obesity surgery devices.
All of these factors have provided an impetus to the global obesity surgery devices market, thus opening up avenues for further research and development in this field. Gastric electrical stimulation is a key trend to watch out for in the obesity surgery space.