The global market for bariatric surgery devices is gaining traction of several factors including government initiatives to curb obesity, increase in the population of obese patients, prevalence of diabetes and heart diseases, insurance coverage, surgical advancements, and public awareness. On the other hand, the lack of awareness in the emerging economies, significantly lower disposable income in developing nations, and high cost of bariatric surgical drives are some of the challenges faced by this market.
Taking all these, and other important factors into consideration, the global bariatric surgical devices market will expand at a healthy CAGR of 9.3% during the forecast period of 2017 to 2025, according to a recent study by Transparency Market Research (TMR). The report projects the market for bariatric surgery devices to be worth US$1.7 bn by the end of 2025, significantly up from its evaluated valuation of merely US$798.3 mn in 2016.
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Which bariatric surgery devices market segments are most lucrative?
Based on device type, the global bariatric surgery devices market has been segmented into assisting devices and implantable devices. While assisting devices have been sub-segmented into closure devices, suturing devices, trocars, and stapling devices, implantable devices segment has been further divided into gastric balloons, gastric bands, electrical stimulation devices, and gastric emptying.
Among these, suturing assistive devices market segment accounted for the maximum demand, owing to high endorsement of these devices by the surgeons. However, the TMR report projects the closure devices segment to increment the demand at most prominent rate during the forecast period, as these devices are now frequently used in minimally invasive surgeries and help in immediate closure.
Which regions serve the maximum demand for bariatric surgery devices?
Owing to factors such as sedentary lifestyle and the popularity of junk food, obesity is turning into an undeniable issue in the region of North America, which currently serves the maximum demand in the global bariatric surgery devices market. Changing lifestyle has also given rise to the cases of diabetes and hypertension, which will keep the bariatric surgery devices market in good stead in the near future in countries such as the U.S. and Canada wherein residents have significant disposable income and government provide robust healthcare infrastructure. However, Asia Pacific houses nearly half of the world’s population and contains two of the fastest growing economies in India and China. In the near future, the vendors of this market are expected to venture into Asia Pacific to tap into vast demands.
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What is the nature of competition among the leading players?
The TMR report detects high degree of competition and rivalry among the leading players of the global bariatric surgery devices market, in which Ethicon Inc., Allergen Inc., Apollo Endosurgery Inc., and EnteroMedics Inc., TransEnterix Inc., Covidien Plc, Intuitive Surgical Inc., Johnson and Johnson, GI Dynamics Inc., Semiled Ltd., USGI Medical Inc. lead. Innovation of new technology that reduce the time of recovery for the patients and chances of infection is expected to remain the key strategy of the market leaders to maintain their stronghold.