The obesity epidemic is a staggering public health problem and despite increased attention and education, the WHO still predicts the number of obese adults worldwide to increase from 400 million to 700 million between 2005 and 2015. More and more people are turning to bariatric surgery as a last resort. Despite a slow economy, demand remains strong, even despite its being classified as an elective procedure for most individuals. This is according to the findings of a new report, "Obesity, Weight Loss and Diet Management Markets (Pharmaceutical, Surgical and Dietary Approaches)," from healthcare market research publisher Kalorama Information.
The number of bariatric surgeries has increased at an average rate of 20% annually over the past 15 years. Procedure volumes have ballooned from a minimal number in 1993, to an estimated 350,000 in 2009. This translates into sales of $517 million for surgical devices used in bariatric surgery, or a 21.6% increase over 2008 sales. Although growth has slowed somewhat since 2007, it is still increasing at double-digit rates today and Kalorama forecasts 13.4% growth through 2013. Women, especially in their late 30s to early 40s, account for the lion's share of bariatric procedures.
"The sheer number of people battling the bulge, with no end in sight to the health crisis, predicates continued strong growth in the volume of bariatric surgeries," notes Kalorama Information analyst Melissa Elder. "This in turn will create opportunity for makers of devices used in these surgeries."