Weight Loss Stomach Pump Market Segment Analysis By Disease Type:
Based on Disease Type, the Weight Loss Stomach Pump Market is segmented into Bulimia, Anorexia nervosa, Obesity, and Others. In 2020, obesity disease type dominated the global market. Unhealthy lifestyles are contributing to an increase in obesity-related ailments among healthy people. As a result, a weight loss stomach pump would play a critical role in properly controlling obesity. Obesity and chronic diseases are rising, necessitating a stomach pump device for weight loss and obesity control. The expansion of this segment is being driven by an increase in health concerns, high disposable income, and technological advancements. Bulimia is anticipated to increase at a healthy rate of 5.3%. Bulimia nervosa, also known as Bulimia, is a serious eating disorder characterized by binge eating followed by purging, which is commonly accomplished through forced vomiting to get rid of the additional calories in an unhealthy way. People living with Bulimia employ various strategies to burn calories and avoid weight gain, including the Weight Loss Stomach Pump Device. With this therapy, patients consume less than they did before. People believe that patients can eat everything they want and then aspirate it, but this is just not true. It must be sufficiently liquid, and the particles.
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Weight Loss Stomach Pump Market Segment Analysis By Application
Based on the Application, the Weight Loss Stomach Pump Market is divided into Hospitals, Clinics, and Nursing Homes. The hospitals segment accounted for the largest revenue market share in 2020 owing to the enormous number of patient footfalls, the high number of surgeries in such places, availability of developed and latest infrastructure, and rising investments to develop infrastructure, skilled professionals, and easy accessibility. Clinics are predicted to grow with the fastest CAGR of 6.1% in the forecast period 2021-2026 owing to the growing preference towards the healthcare setting, particularly in developed countries, infrastructure improvements to offer best class health facilities to the patients.
Weight Loss Stomach Pump Market Segment Analysis By Geography
Based on Geography, in 2020, North America Weight Loss Stomach Pump Market accounted for 40% of the global revenue market share. This is majorly owing to the significant technological advancements in the region. Weight reduction stomach pumps have been applied successfully in the healthcare systems of nations such as the United States and Canada, encouraging market growth. Furthermore, the availability of more advanced healthcare infrastructure, promising government initiatives to integrate the weight loss stomach pump into existing healthcare infrastructure, and a better reimbursement environment would all help to drive market expansion. Asia-Pacific is estimated to increase at the fastest CAGR during the forecast period 2021-2026. The rise in disposable income, increase in the number of diabetics, greater awareness of personal well-being, sedentary lifestyles, and the inexpensive cost of bariatric procedures in this region contribute to this trend.
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Weight Loss Stomach Pump Market Drivers
Increasing Prevalence of Obesity is Propelling the Weight Loss Stomach Pump Industry Growth:
The rising obesity pandemic around the world is fueling the expansion of the weight loss stomach pump market. Obesity has become a big global concern since diet and exercise alone are insufficient for weight loss and obesity treatment. Obesity rates have risen dramatically over the world in recent decades. The effects of lifestyle disorders on the body have been discovered to be significant. Staying healthy requires avoiding alcohol, drugs, exercising, and eating a nutritious diet. In 2019, the Centers for Disease Control and Prevention (CDC) reported that 39.8% of people in the United States were obese. Between 2013 and 2018, the prevalence of obesity in the United States climbed from 37.7% to 42.4%, with severe obesity increasing from 7.7% to 9.2%.
Growing Health Awareness Among People is Boosting the Market Growth:
Increased health awareness is also a key reason driving the weight loss stomach pump markets revenue rise. The research shows that the large consumer population in developed regional markets continues to drive significant demand for weight loss stomach pump devices. Consumers in the Millennial and Generation-X generations are gradually adopting enhanced aesthetic treatments, such as weight loss resulting in ample prospects for weight loss stomach pump device producers. The FDA first authorized weight loss stomach pump device in June of 2016. Aspire Bariatrics was the first to introduce the pump, which is known as the Aspire Assist. The procedures benefits are numerous, as evidenced by their first small study of 111 participants. However, as with any surgery, the hazards must be considered.
Weight Loss Stomach Pump Market Challenges
Price of the Stomach Pump Device and Risks Related to its Usage are Posing Challenges to the market:
Within the first year, the cost of a weight loss pump is from $8,000 to $13,000, but this varies from patient to patient. After 5-6 weeks, the weight loss stomach pump stops working, necessitating a doctors appointment. Anesthesia isnt used to insert the gadget, although it does require conscious sedation. Furthermore, the hazards associated with this pump are acting as a key impediment to market expansion. For example, a stomach pump should not be used on individuals who have a history of eating problems, and it is not meant to be used for a short period. Indigestion, nausea, vomiting, constipation, bloating, and diarrhea are all possible side effects. Perforation of the stomach or intestinal walls is a possibility, as is pain or infection at the time of insertion.
Weight Loss Stomach Pump Market Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Weight Loss Stomach Pump Market. In 2020, the Weight Loss Stomach Pump Market share was consolidated by the top ten players present in the market Weight Loss Stomach Pump Market top 10 Companies are:
Aspire Bariatrics, Inc.
Apollo Endosurgery, Inc.
Millenium Surgical Corporation
On April 03, 2019, the American Society of Metabolic and Bariatric Surgeons has given AspireAssist® their seal of approval. The American Society of Metabolic and Bariatric Surgeons has endorsed the AspireAssist as one of the techniques and devices for metabolic and bariatric treatment, according to Aspire Bariatrics, Inc., a commercial-stage medical device firm. When a device or treatment receives endorsement, it can be used in medical institutions certified by the Metabolic and Bariatric Surgery Accreditation and Quality Improvement Program (MBSAQIP) without the need for Institutional Review Board (IRB) clearance.
Around 13% of the worlds population is classified as Obese, according to the World Health Organization (WHO).
The Institute of Health Metrics and Evaluation estimates that 30.0% of the worlds population is obese or overweight.
Along with the commercial availability of weight loss options, technical breakthroughs provided by vertical companies, and supportive government programs, there is a greater awareness of obesity and its influence on health. This is further boosting the growth of the weight loss stomach pump market.
A. Weight Loss And Weight Management Market
B. Obesity Management Market
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