According to the latest report published by Variant Market Research, the Global Obesity Surgery Devices Market is estimated to reach to reach $3,567 Million by 2024 from $1,728 Million in 2016, growing at a CAGR of 9.5% from 2016 to 2024.
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Rising disposable income is expected to fuel the global obesity surgery devices market growth
Rising consumption of fast-food and global endemic of obesity are the major factors to drive the growth of global obesity surgery devices market. Additionally, rising disposable income, and increasing rate of childhood obesity has also supported the growth of the market. However, expensive procedural cost, and discerning nature of obesity surgery are the drawbacks limiting the market growth. Furthermore, growing alertness among consumers and escalating demand for less invasive surgeries is highly expected to pose several growth opportunities for the market in the forecast timeframe.
Market Segmentation
The global obesity surgery devices market is mainly classified on the basis of device, procedure, and geography. Device segment is categorized into staples, intragastric balloon, gastric electrical stimulator, gastric bands, and other devices. On the basis of procedure, the segment is bifurcated into sleeve gastrectomy,biliopancreatic diversion with as duodenal-switch, adjustable gastric banding,Roux-en-Y gastric bypass, and other procedures. Furthermore based on geography, North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major classification of global obesity surgery devices market. North America is further split into U.S., Mexico, and Canada whereas Europe segment consists of Germany, UK, France, Russia, Italy, and Rest of Europe. Asia-Pacific is segmented into Japan, China, India, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into Middle East, South America, and Africa.
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Staples dominated the device segment with highest share in 2016
Staples accounted for the maximum market share in the device segment in 2016, this growth is seen due to their shortened operative time and improved perioperative safety. Also gastric bands held for the second largest market share in the device segment.
Roux-en-Y gastric bypass accounted the major market share in procedure segment
Roux-en-Y gastric bypass occupied the largest market share in 2016, in the procedure segment, as it is one of the most frequently performed standard weight loss surgeries. The sleeve gastrectomy is likely to achieve the fastest CAGR in the segment during the forecast period 2016–2024.
North America occupied the supreme share in the global obesity surgery devices market
In 2016, North America generated the largest revenue in the global market accounting for 67.1% of the total market share, trailed by Europe with 19.2%. Asia-Pacific is expected to reach the fastest CAGR in terms of growth, owing to high consumption of fast food, improved healthcare infrastructure,and growing popularity of medical tourism.
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Competitive Landscape
Prominent players operating in the global market include Johnson and Johnson, Allergan Inc., Spatz FGIA Inc., Aspire Bariatrics, Inc., Mediflex Surgical Products, Medtronic Inc., Cousin Biotech, EnteroMedics Inc., TransEnterix Inc., and IntraPace Inc., among others.
Scope of Obesity Surgery Devices Market
Procedure Segments
- Roux-en-Y Gastric Bypass
- Sleeve Gastrectomy
- Adjustable Gastric Banding
- Biliopancreatic Diversion with As Duodenal Switch
- Other Procedures
Devices Segments
- Staples
- Gastric Bands
- Gastric Electrical Stimulator
- Intragastric Balloon
- Other Devices
Geographical Segments
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Russia
- Germany
- France
- Italy
- Others
- Asia-Pacific
- India
- China
- Japan
- South Korea
- Others
- RoW
- South America
- Middle East
- Africa
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