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According to National Health and Nutrition Examination Survey (NHANES), approximately 35%, or nearly one out of three adults age 20 years or older were classified as obese in 2012 (the latest available statistics) based on a BMI of 30 kg/m2 or greater. This translates to more than 100 million obese people in the U.S.—a staggering number. Obesity has become such as concern due to increasing prevalence and the rise of serious health-related co-morbidities, such as type 2 diabetes, that it has recently been recognized by the American Medical Association, as well as other medical and government organizations, as a chronic disease. Due to the fact that type 2 diabetes and obesity are closely linked, the rise of obesity is increasing the prevalence of diabetes, making it critical to develop improved medical treatments to more effectively treat both conditions.
The fact that the overweight, obese and morbidly obese population remains vastly undertreated (in the U.S. and worldwide) bodes very well for next-generation obesity drugs and devices, as it leaves significant room for companies to profit and grow revenues in the coming decade in a virtually untapped U.S. market, expected to be valued at more than $1.8 billion by the year 2020.
This dynamic, new report from Medtech Insight includes analyses of selected products, current/forecast markets, surgical procedure volumes, competitors, market share by supplier, and opportunities in the U.S. Obesity Drugs and Devices Market. Specifically, this report covers leading and emerging prescription-based weight loss (obesity) drugs, and minimally invasive medical devices, including: laparoscopic adjustable gastric banding (LAGB) systems, intragastric balloon systems, implantable gastric stimulation devices, and other emerging device-based technologies, including nonsurgical/incisionless, transorally inserted or next-generation minimally invasive weight loss device therapies.
In 2014, the total, combined U.S. market for “new” obesity drugs and (minimally invasive medical) devices for the treatment of obesity was estimated at approximately $374.7 million. Over the forecast period, the total market is expected to advance at a healthy, double-digit compound annual rate of 32.4%, from an estimated $455.4 million in 2015 to an estimated $1,852.1 million in the year 2020.
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