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Industry growth

US bariatric device market to double by 2016

Increase in market growth the result of greater awareness of obesity and associated comorbidities
Surgical obesity market is set to soar over the next decade

A new report by consulting firm Frost & Sullivan has predicted that the US market for surgical obesity devices will surpass US$300 million by 2016.

The report, “Analysis of the U.S. Obesity Surgery Devices Market”, states that the total revenue generated by sales of obesity surgery devices in the US in 2011 was approximately US$156.2 million, representing a 2.5% increase over 2010.

The report clams that the market will see dramatic growth and that revenue in the US obesity surgery devices market will grow at a compound annual growth rate of 15.7% from 2011 to 2016, reaching US$301.7 million in 2016.  

The research expects the market to see many technology advancements in the next decade and claims an increase in published literature on the risks of obesity, as well as an increased awareness of the comorbidities associated with obesity (such as diabetes, hypertension and cardiovascular disease) are the key drivers for growth in the market.

The report states that Allergan generated the highest revenue in the US market in 2011, primarily due to the Lap-Band device. However, analysts claim that newer technologies such as intragastric balloons and gastric stimulators will be approved and launched in the next few years, increasing the treatment options available to patients.

This is in contrast to recent financial results from Allergan, which reported that the number of laparoscopic gastric band operations in the US has dropped by around 20% since 2011. The decline was the result of increases in laparoscopic sleeve gastrectomy procedures, which had garnered a 31% share of US operations in May 2012.

The report estimates that obesity and its related comorbidities cost the US healthcare system approximately US$150 billion per year. Although the FDA is cautious of approving short-term solutions and demands long-term data on the safety and efficacy of the newer solutions, the recent approval of two new weight loss drugs (Belviq and Qsymia) highlights the fact that the Agency is aware of the need to reduce the time taken to regulate and approve products.

There are more surgical products available in Europe for treating obesity compared with the US, and the report claims that once some of these technologies are accepted in the US, products will be launched relatively quickly because development time will be reduced.

The report also incorporates revenue forecasts, unit forecasts, technological advances and pricing analyses for the market's various segments including gastric banding, gastric stimulators and intragastric balloons.

In addition, it examines the external market challenges (both drivers and restraints), predicts future market forecasts and trends, market share and competitive analysis, and assesses the emerging companies in the market.

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