With a rapid increase in the population suffering from the problem of obesity, the number of bariatric surgeries carried out on a global scale is also increasing continuously, and this increase has further led to a rise in the market for bariatric surgical devices. Bariatric surgery fights obesity by reducing the size of the stomach or through the removal of a portion of the stomach (sleeve gastrectomy or biliopancreatic diversion with a duodenal switch). The global market for bariatric surgical devices is expected to grow at a healthy CAGR during the period from 2013 to 2019 with maximum growth in the U.S. market.
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The market for bariatric surgical devices is driven by a shift of trends towards fast food, hectic work schedules, and sedentary lifestyles with very less physical work, all leading to obesity problems which leads to an increase in the number of surgeries and results in the expansion of the bariatric surgical devices market. The rising concern of people towards their health is also boosting the market.
The market can be segmented on the basis of the devices available into adjustable gastric bands, intragastric balloons, implantable gastric simulators, surgical clamps, gastric surgery clamps, clip appliers, Endo Stitch, surgical staples, and trocars. Segmenting geographically, the U.S is the largest market for bariatric surgical devices due to the large number of people suffering from obesity, followed by the European Union, rest of Europe, and Latin America, in that order.
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Bariatric surgery will see rapid growth due to an increase in the number of obese people, leading to an increase in bariatric surgery advertising, insurance coverage, surgical training, and public awareness. The restraints that the industry faces are lack of knowledge and information about bariatric surgery in developing nations, less disposable income in these countries, and the high cost of the surgery. Some of the key players in the market are Allergan, Inc. (US), Agency for Medical Innovations (Austria), Cousin Biotech (France), Surgical IOC (France), PARE Surgical, Inc. (US), and Silimed Ltd (Brazil).
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