NEW YORK, May 28, 2018 (GLOBE NEWSWIRE) -- The obesity/bariatric surgery devices market size is projected to grow at a CAGR of 9.9% during 2017-2023, to reach $2.7 billion by 2023. The market is growing mainly due to rising awareness about bariatric surgery in obese population, increasing prevalence of obesity leading to high demand for obesity surgeries, technological advancements in the obesity surgery devices industry and lifestyle changes leading to high risk of obesity.

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It has been observed that various lifestyle related changes increase the risk of developing obesity among general population. Some of these lifestyle changes include sedentary lifestyle and over consumption of junk food. With various technological innovations in the mechanical engineering field, machines have made life for humans easy. These innovations have also given rise to the sedentary attitude and a physically less active lifestyle, especially in the urban areas. Additionally, the eating habits of people in the urban areas have also changed over the past few decades, and the overall consumption of fast food has also increased with time. Therefore, people consuming large amount of junk foods on a daily basis are at an increased risk of developing obesity during their lifetime, further driving the growth of the obesity surgery devices market.

European obesity surgery devices market is projected to account for more than 20% of the worldwide market by 2023. The market growth in Europe is mainly attributable to the increasing aging population and rising number of surgical procedures performed for the treatment of obesity in the region. Among all the European countries, France is expected to project the fastest growth in the European obesity surgery devices market. The growth in the country is mainly due to the increasing prevalence of overweight and obesity, and high ratio of number of bariatric surgeries to the number of obese population in France as compared to other European countries.

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The companies in the obesity surgery devices market are undergoing mergers and acquisitions to gain a larger market share and improve their position in the market. For instance, in October 2017, EnteroMedics Inc. acquired ReShape Medical, Inc. for a consideration payment of 2,356,729 shares of common stock, 187,772 shares of series C convertible preferred stock and approximately $5.0 million in cash. The acquisition was aimed at combining the complementary expertise and capabilities of both companies to offer better.

Some of the key manufacturers operating in the obesity surgery devices market include Johnson & Johnson, Medtronic plc, W. L. Gore & Associates Inc., Spatz FGIA Inc., Cousin Biotech and ReShape Lifesciences Inc. (formerly EnteroMedics Inc.).

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