June 23, 2008 - The U.S. obesity surgery device market is keeping pace with fast-changing technologies, new scientific findings and changing consumer demands to emerge a dynamic market, according to new analysis from Frost & Sullivan.
According to Frost & Sullivan, there were 141,000 procedures in this market in 2006 and estimates it to reach 343,980 in 2013.
“Previously viewed as a cosmetic impairment rather than a serious medical risk, technological innovations were limited due to minimal interest from the medical community and the lack of funding for development of such cures,” said Frost & Sullivan industry analyst Aarti Shetty. “With the greater attention to physical well-being among Americans, the growth potential of this market has improved dramatically.”
The availability of better treatment options, more accessible medical institutions and better patient awareness are some motives fueling this trend, said the study. Not only patients but also venture capitalists are sitting up and taking notice of the developments in this market. The latter have recognized the considerable revenue potential of the market and are funding numerous start-ups catering to the moderately obese population. This interest by venture capitalists has driven technological improvements, intense product-based competition and ultimately an expansion of market scope and application.
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