Bariatric Surgery Devices Market Highlights:
The Bariatric Surgery Devices Market is expected to register a CAGR of 5.5% during the forecast period reaching almost 2200 USD million. Bariatric surgery is a procedure used for weight loss in which stomach size is reduced either by using a gastric band, by cutting a small portion of the stomach, or by resecting small intestine into the stomach.
The global bariatric surgery devices Industry is majorly driven by increasing technical advanced devices, increasing number of regulatory approvals, rising cases of obesity, the high prevalence of diseases related to obesity and growing penetration of key market players.
Furthermore, raising awareness of healthcare, favorable reimbursement policies, increasing innovations in research and development of medical devices, as well as rising average income of individuals are fueling the market growth. However, factors such as complicated and costly surgical procedures are likely to hamper the growth of the market. Lack of proper health care infrastructure, as well as awareness regarding diseases associated with obesity in middle-income countries, are also a major challenge to the market growth.
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Bariatric Surgery Devices Market Players:
Mediflex Surgical Products
Agency for Medical Innovation
Global Bariatric Surgery Devices Market Segmentation:
The global bariatric surgery devices market is segmented on the basis of devices type, procedure types, and end-user. According to the product, the market is segmented into assisting devices type, implantable devices type, and others. The assisting device type is further segmented into suturing devices, stapling devices, incision closure devices, trocars, and others. Implantable devices are segmented into gastric bands, gastric balloons, electrical stimulation devices, and gastric emptying devices.
Considering the procedure, the market is segmented into sleeve gastrectomy, gastric bypass, revision bariatric surgery, non-invasive bariatric surgery, adjustable gastric banding, mini-gastric bypass, biliopancreatic diversion with duodenal switch, and gastric bypass.
Based on region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. The American region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.
Regional Analysis of the Global Bariatric Surgery Devices Market:
The Americas dominates the global bariatric surgery devices market due to the increasing prevalence of obesity issues and diseases associated with it. Additionally, factors such as increasing government initiatives and funding for research, development in advanced medical treatment options, increasing fast-food chain, abuse of alcohol and drugs, and rising demand for technologically advanced treatments are likely to enhance the growth of the bariatric surgery devices market in the American region. For instance, according to the reports published by the American Society for Metabolic and Bariatric surgery in July 2016, the total number of bariatric surgeries that was done in the U.S. in the year 2011 was 158,000. Similarly, the American Heart Association estimated that 31% of the deaths in the U.S. were due to cardiovascular disorders in 2014. The rising number of diseases associated with morbid obesity and feasibility of minimally invasive procedures are likely to propel the market growth during the forecast period. The presence of some of the key players such as Boston Scientific, ASAHI INTECC Limited, and Cardinal health in this area adds up to the market growth.
Europe accounts for the second largest market due to major driving factors such as availability of advanced treatment facilities, increasing healthcare expenditure along with the growing need for better healthcare infrastructure, government initiatives of healthcare reform, and the established medical device market. For instance, Eurostat estimated that over 19.2% of the population in Europe was aged 65 and above. This increasing older population is likely to increase the obesity population as the metabolic rate decreases with age and can lead to obesity issues.
On the other hand, the Middle East and Africa is expected to witness a slow growth due to the limited access to healthcare facilities and affordability issues among the population. In the Middle East, the growth of the market is driven by Saudi Arabia and the United Arab Of Emirates because of the well-established healthcare infrastructure, awareness for good health among the residents, as well as accessibility to modern medical technology methods.
Major Table of Content For Bariatric Surgery Devices Market Research Report – Forecast to 2023:
1. Report Prologue
2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4. Market Dynamics
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