Global Weight loss stomach pump Market - 2021-2028
発行: DataM Intelligence
ページ情報: 英文 180 Pages
Weight loss stomach pump Market Overview
The global weight loss stomach pump market size was valued US$ XX billion in 2019 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
A weight loss stomach pump is a medical device that allows control over the absorption of calories by the human body. It is a pump that connects externally to spill out entire stomach contents. These pumps are mainly utilized by bulimia patients aged 22 or more.
Weight loss stomach pump Market Dynamics
The weight loss stomach pump market growth is driven by the owing to increasing the use of these pumps by obese patients or who went through gastric bypass surgery. Increase in bulimia patients, fewer side effects, development in lifestyle habits and increase in non-surgical treatment worldwide.
Increasing patients with more obesity problems and gastric bypass surgery, is expected to drive the growth in the forecast period
Increasing patients with more obesity problems and gastric bypass surgery is expected to drive the market growth. For instance, according to the World Health Organisation WHO, 39 million children under the age of 5 were overweight or obese in 2020. The world obesity statistics suggest that the levels of obesity will be huge in countries like England, the United States, and Mexico, where 35%, 47%, and 39% of the total population are expected to be overweight or obese by 2030.
Moreover, according to the American Society for Metabolic and Bariatric surgery in July 2016, the total number of bariatric surgeries done in the U.S was about 158,000, with the laparoscopic Roux-en-Y gastric bypass (LRYGB) forming the most commonly performed bariatric surgery (36.7%). In addition, in the U.S. itself, an estimated 278,000 bariatric surgeries were performed in 2019, and this is expected to rise to an average of 297,000 in 2021.
High cost associated with weight loss stomach pump device is likely to hamper the market growth
The cost of a weight loss stomach pump is expensive. For instance, currently, AspireAssist is not covered by most insurance plans. That means the patient has to pay out of pocket for the device, medical care, and lifestyle counseling. The total price of AspireAssist weight loss is estimated to range from $7,000 to $13,000 may restrict the market growth.
COVID-19 Impact Analysis
The COVID-19 pandemic is expected to impact the weight loss stomach pump market negatively. Following the COVID-19 outbreak in December 2019, the disease has spread to over 100 countries globally, and the World Health Organization has declared it a public health emergency. According to the World Health Organization's report, the coronavirus (COVID-19) manifestation has resulted in more than 52.7 million infected individuals worldwide as of November 13, 2020. COVID-19 has affected every market globally and has also impacted the global weight loss stomach pump market in the following ways; by directly affecting production and demand, creating disruptions in distribution channels, and its financial impact on firms and financial markets.
Weight loss stomach pump Market Segment Analysis
The obesity segment is expected to hold largest share in this market segment
Obesity is a medical condition where a person has accumulated abnormal or excessive body fat that causes negative effects on health. According to the World Health Organization WHO, 39 million children under the age of 5 were overweight or obese in 2020. For instance, Food and Drug Administration, to help individuals with obesity lose weight, approved the AspireAssist device in 2016. It helps to reduce the number of calories absorbed by the body so that weight loss happens. Hence, the demand of this device is expected to increase the market growth.
The hospitals segment is expected to hold largest share in this market segment
The hospitals held the largest share in the weight loss stomach pumps market. This is mainly owing to increasing number of patients suffering from conditions which are treated in hospitals equipped with advanced infrastructure and adequate facilities. Moreover, growing number of hospitals along with adequate reimbursement policies is contributing to the growth of this segment.
Weight loss stomach pump Market Geographical Analysis
North America region holds the largest market share of global weight loss stomach pump market
The North America is the fastest-growing region in the global weight loss stomach pump market owing to technological advancements. The U.S. and Canada are actively introducing the weight loss stomach pump in the healthcare system, which positively impacts the global weight loss stomach pump market. Furthermore, government initiatives to introduce weight loss stomach pump in the existing healthcare infrastructure are expected to boost the weight loss stomach pump market in this region. In addition, improved financial assistance to set up healthcare infrastructure further propels the global market growth in North America.
Weight loss stomach Pump Market Competitive Landscape
The global weight loss stomach pump market is moderately competitive with presence of global companies. Some of the key players which are contributing to the growth of the market include Aspire Bariatrics, Inc (AspireAssist System), and Apollo Endosurgery, Inc (ORBERA balloon), among other. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally. For instance, In August 2015, the ORBERA Intragastric Balloon System is a weight-loss system, which uses a gastric balloon that occupies space in the stomach to help patients lose weight.
Weight loss stomach Pump Market Key Companies to Watch
Aspire Bariatrics, Inc
Overview: Aspire Bariatrics, Inc. is a privately-held company founded in 2005, based in the greater Philadelphia area. The initial product concept was developed as a collaboration between three physicians to provide an effective, low-risk method of weight loss for obese people. The three physicians, Dr. Sam Klein (Washington University in St. Louis), Dr. Moshe Shike (Memorial Sloan Kettering Cancer Center in New York), and Dr. Steve Solomon (Memorial Sloan Kettering), combining expertise in obesity, nutrition, gastroenterology, medical device discovery, and PEG (percutaneous endoscopic gastrostomy) tubes, modified a PEG tube to make it suitable for weight loss purposes. PEG tubes, used for long-term feeding of patients that cannot take in food orally, have been used for 30 years and have an established record of safety. Its first patient with the modified tube lost 100% of her excess weight in 2005, and maintained her weight-loss for over five years post-procedure. Katherine Crothall, Ph.D., Aspire's President and CEO, joined the Company in November 2010.
Key developments: In 2017, Aspire Bariatrics announced AspireAssist received Australian TGA Therapeutic Goods Administration Approval and First Commercial Cases Performed in Australia.
The global weight loss stomach pump market report would provide an access to an approx. 29 market data table, 37 figures and 200 pages.
Global Weight Loss Stomach Pump Market - By Disease Type
Global Weight Loss Stomach Pump Market - By End-user
Global Weight Loss Stomach Pump Market - By Region
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