Obesity/Surgery Devices Market Witness Fastest Growth in Gastric Balloons, During the Forecast Period 2017-2023
The market
is growing mainly due to increasing prevalence of obesity leading to high
demand for obesity surgeries, rising awareness about bariatric surgery in obese
population, lifestyle changes leading to high risk of obesity, and
technological advancements in the obesity surgery devices industry.
In terms of
device type, the obesity surgery devices market is categorized into gastric
bands, gastric balloons, stapling devices, gastric electrical stimulators, and
others. Stapling devices held the largest share of the obesity surgery devices
industry, owing to their high application in all types of bariatric surgeries
to staple the stomach and intestine parts. The market will witness fastest
growth in gastric balloons, during the forecast period, as these are less
invasive and cheaper weight loss therapy.
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The players
operating in the global obesity surgery devices market have been continuously
making efforts to come up with technologically advanced devices for bariatric
surgeries. In June 2015, Medtronic PLC launched GastriSail, a device for sleeve
gastrectomy, that can be used as standalone device, whereas, the traditional
method of performing sleeve gastrectomy involves the use of three devices. The
device posed lesser risk of infection and discomfort as compared to the
traditional method. Also, the European Medicines Agency (EMA) had recently
approved Elipse device of Allurion Technologies Inc., a procedure less balloon
intended to be swallowed and naturally excreted without endoscopy, surgery or
anaesthesia. These devices have made the procedure of performing bariatric
surgery less time consuming and more effective. The increased effectiveness,
and reduced invasiveness and risk of infection, have resulted in more number
obese people showing interest in undergoing an obesity surgery, driving the
demand for obesity surgery devices.
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The
companies in the obesity surgery devices market are undergoing mergers and
acquisitions to gain a larger market share and improve their position in the
market. For instance, in October 2017, EnteroMedics Inc. acquired ReShape
Medical, Inc. for a consideration payment of 2,356,729 shares of common stock,
187,772 shares of series C convertible preferred stock (which will be
convertible into 18,777,200 shares of common stock upon the receipt of the
required approval of EnteroMedics' stockholders under NASDAQ rules), and
approximately $5.0 million in cash. The acquisition was aimed at combining the
complementary expertise and capabilities of both companies to offer better.
Some of the
key manufacturers operating in the obesity surgery devices market include Medtronic plc, Johnson &
Johnson, Spatz FGIA Inc., W. L. Gore & Associates, Inc., ReShape
Lifesciences, Inc. (formerly EnteroMedics Inc.), and Cousin Biotech.
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