Rising awareness regarding obesity related diseases and growing consciousness regarding diet, exercises & medication are few factors attributing for the growth of obesity treatment devices & therapeutics market. Moreover, globally obesity has become most predominant health issues due to the factors such as increasing consumption of junk food and reducing physical activities due to hectic work schedules which is expected to positively reinforce the growth of obesity treatment devices market over the forecast period.
On the basis of devices types, the obesity treatment and therapeutic market is segmented into appetite suppression devices, malabsorption devices, artificial fullness devices, restrictive devices and gastric emptying devices. As of 2014, restrictive devices accounted for the largest shares in terms of revenue. Key advantages associated with restrictive devices include minimal need for adjustments & minimization of slippages risk and lower post operative complications. Appetite suppression devices are expected to be one of the fastest growing segments included in the study. Rising awareness regarding the appetite suppression technology which includes ingestible and expandable membranes in surrounding expandable reactant material is a key factor for its significant growth. Furthermore, growing demand for effective & efficient method and rising awareness regarding advantages associated with minimally invasive treatment are amongst few factors which are expected to boost the market growth.
Malabsorption drugs, satiety drugs, combination drugs and appetite suppression drugs are amongst types of drugs included in the study. In 2014, appetite suppression drugs were one of the highest revenue generating drug types. However, the combination drugs were one of the fastest growing segments included in the study. Key factors attributing to its rapid growth include growing efficiencies & effectiveness of combination drugs over monotherapy dose, reducing risk of adverse drug reaction and decreasing overall treatment cost.
North America, Europe, Asia Pacific, MEA and Latin America are amongst key regional markets included in the study. In 2014, North America held majority of share in terms of revenue. Rising awareness pertaining to advantages associated with weight management programs and increasing prevalence of obesity related disease are some factors responsible for large share. Asia Pacific region is expected to one of the fastest growing market over the forecast period. Growing awareness regarding weight management, growing disposable income and increasing favorable government initiatives are few factors attributing to its significant growth.
Key players operating in global obesity treatment devices and therapeutics market include Allergan, Inc., EnteroMedics, Inc. Covidien PLC. and Cousin Biotech
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