Obesity Intervention Devices Market to Reach $407.6 Million, Globally, by 2031 at 5.3% CAGR: Allied Market Research

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Apr 03, 2023, 05:22 ET

PORTLAND, Ore., April 3, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Obesity intervention devices Market by Devices (Gastric Band, Gastric Balloons, and Gastric Stimulation System), by End User (hospitals and others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global obesity intervention devices industry generated $243.2 million in 2021, and is anticipated to generate $407.6 million by 2031, witnessing a CAGR of 5.3% from 2022 to 2031.

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Prime determinants of growth

The global obesity intervention devices market is witnessing growth due to multiple factors, including a rise in the prevalence of obesity, an increase in the number of market players manufacturing obesity intervention devices, and an overall increase in awareness among people about the availability of such procedures. However, the growth may be hindered by the negative side effects associated with these procedures. Nevertheless, the rise in the number of market players is anticipated to create lucrative opportunities for the growth of the obesity intervention devices market.

Report coverage & details:

Report Coverage	Details
Forecast Period	2022–2031
Base Year	2021
Market Size in 2021	$243.2 million
Market Size in 2031	$407.6 million
CAGR	5.3 %
No. of Pages in Report	297
Segments covered	Device, End User, and Region.
Drivers	Rise in the prevalence of obesity Increase in the prevalence of type 2 diabetes. Surge in awareness among people regarding the adverse effects of obesity
Opportunities	Rise in the number of market players who manufacture obesity intervention devices.
Restraints	Side effects of obesity intervention procedures

Impact of Covid-19 on Obesity Intervention Devices Market-

Due to the COVID-19 pandemic and the subsequent global lockdowns, the obesity intervention devices market faced a downturn.
However, as the global situation started ameliorating, the demand for gastric balloon obesity intervention procedures was restored back. This, in turn, presented various growth opportunities for companies operating in the obesity intervention devices market.

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The gastric band segment to maintain its leadership status throughout the forecast period.

Based on device, the gastric band segment held the highest market share in 2021, accounting for more than two-fifths of the global obesity intervention devices market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to the rise in the number of market players who manufacture gastric bands and increase in awareness among people regarding gastric banding. However, the gastric balloon segment is projected to manifest the highest CAGR of 5.7% from 2022 to 2031, owing to an increase in the number of product launches & product approvals for gastric balloon devices.

The hospitals segment to maintain its leadership status throughout the forecast period.

Based on end user, the hospital segment held the highest market share in 2021, accounting for around four-fifths of the global obesity intervention devices market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is owing to the rise in hospital patient visits for obesity intervention procedures. The same segment is also projected to manifest the highest CAGR of 5.4% from 2022 to 2031.

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North America to maintain its dominance by 2031.

Based on region, North America held the highest market share in terms of revenue in 2021, contributing to more than one-third of the global obesity intervention devices market revenue. This is owing to the rise in technological advancements and a well-established healthcare industry. However, the Asia-Pacific region is expected to witness the fastest CAGR of 6.2% from 2022 to 2031 and is likely to dominate the market during the forecast period, This is attributed to the rising prevalence of obesity and the increase in the number of populations suffering from chronic diseases such as diabetes.

Leading Market Players: -

Apollo Endosurgery
Reshape Lifesciences
GI Dynamics
Allergan
Cousin Surgery
Johnson & Johnson
A.M.I. gmbh
Spatz FGIA Inc
Allurion Technologies Inc.
Endalis

The report provides a detailed analysis of these key players in the global obesity intervention devices market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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