Obesity Intervention Devices Market Expected to Reach $407.6 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Obesity Intervention Devices Market," The obesity intervention devices market size was valued at $243.23 million in 2021, and is estimated to reach $407.6 million by 2031, growing at a CAGR of 5.3% from 2021 to 2031. 

Obesity is a condition in which an individual has an excessive amount of body fat relative to their body mass index. Obesity intervention devices are tools used to help people with obesity to reduce their weight and improve their health. Examples of obesity intervention devices include medical devices such as gastric balloons, gastric bands, and gastric stimulation system.

Factors that drive the growth of global obesity intervention devices market include rise in prevalence of obesity and increase in the number of market players who manufacture obesity intervention devices. For instance, Apollo Endosurgery, Reshape Lifesciences, GI Dynamics, Allergan, Cousin Biotech, and Johnson & Johnson are some major market players who manufacture obesity intervention devices.

Moreover, rise in number of product approvals associated with obesity intervention devices is expected to witness market growth during the forecast period. For instance, in August 2022, according to ReShape Lifesciences, a developer of minimally invasive medical devices to treat obesity and metabolic diseases, received 510(k) approval from Food and Drug Administration (FDA) for the disposable, gastrointestinal balloon indicator (GIBI HD) calibration tube for use in gastric and bariatric surgical procedures.

Moreover, obesity is a major risk factor for type 2 diabetes. This is due to being overweight or obese that can cause insulin resistance, or in this condition, the body does not use insulin effectively. In type 2 diabetes, the body cannot properly process the sugar in the blood, leading to high blood sugar levels.

In addition, obesity intervention devices are intended for weight loss that leads to improvement or remission of type 2 diabetes. Thus, rise in prevalence of type 2 diabetes is anticipated to boost the obesity intervention devices market forecast. For instance, Allergan plc., a medical device company, provides LAP-BAND AP adjustable gastric banding system. It is used for weight loss and improve or lead to remission of type 2 diabetes in patients with BMI greater than or equal to 35.

In addition, rise in awareness among the people regarding side effects of obesity and serious complication such as hypertension, diabetes due to obesity is anticipated to drive the growth of obesity intervention devices market. 

However, the factors anticipated to restraint the obesity intervention devices market trends are high cost of surgery, limited accessibility for specialist, and long-term maintenance, which require regular visits to the surgeon. In addition, the gastric band can slip or break, requiring additional surgery to repair or remove it, thus, risk of failure can hamper the growth of market.

Obesity intervention devices market analysis is done in two major segments which includes device and end user. 

By device, the obesity intervention devices market share is classified into gastric bands, gastric balloon, and gastric stimulation system. The gastric balloon segment dominated the market in 2021 and is expected to grow with a faster CAGR during the forecast period owing to rise in the number of product launch and product approvals for gastric balloons in obesity intervention devices market and increase in number of market players who manufactures gastric balloons.

By end user, the obesity intervention devices market share is classified into hospitals and others. The other segment is further divided into gastroenterology clinics and ambulatory surgical centers. The hospitals segment is dominated the market in 2021 and is expected to grow with a faster CAGR during the forecast period owing to the availability of trained medical staff in hospitals that helps to provide better services to patients, increase in patient admission in hospital, and surge in the prevalence of obesity.

Region wise, North America had the highest obesity intervention devices market size in 2021 and is expected to maintain its lead during the forecast period owing to increase in number of market players who manufacture obesity intervention devices, availability of well-developed healthcare infrastructure, and surge in prevalence of obesity and diabetes. However, Asia-Pacific obesity intervention devices industry is expected to exhibit fastest growth during the forecast period owing to increase in awareness among the people regarding obesity, rise in prevalence of diabetes & obesity, and increase in disposable income.

The Covid-19 pandemic has had a negative impact on the obesity intervention devices industry. Due to the global pandemic, many hospitals have been forced to close or limit services to only emergency care. This has meant that elective surgeries, such as gastric banding, implanatation of gastric balloon, are being postponed or canceled. Additionally, the fear of contracting the virus has deterred patients from seeking medical care, further reducing the demand for obesity intervention services. As a result, the obesity intervention devices market is expected to experience a decline in demand in the near future.

Key findings of the study

• By devices, gastric band segment dominated the market in 2021.
• By end user, hospitals segment dominated the market in 2021.
• By region, North America dominated the market in 2021 and is expected to grow at a CAGR during the forecast period.