Obesity is a global health problem, affecting 70 million people in the U.S. and over 500 million people worldwide. In the U.S. alone, an estimated 112,000 deaths are associated with obesity each year, making it the number one preventable cause of death in the U.S.
Moreover, as the worldwide obesity problem continues to grow, obesity-related diseases such as diabetes, high blood pressure, cancer, and cardiovascular disease also show increasing prevalence. Of the 500 million obese population, approximately 63 million (12.6%) are diagnosed with Type 2 Diabetes.
As the obesity rates continue to grow internationally, the money spent continues to increase as well. The U.S. alone spends over $147 billion annually on the treatment of obesity and obesity-related health problems.
According to the Medical Device and Diagnostic Industry, the North American obesity and weight loss market will increase to approximately $139.5 billion by2017. With this tremendous market opportunity and the increasing worldwide obesity problem, Onciomed is addressing this challenge to become an emerging leader with our innovative, minimally-invasive Gastric Vest System.