Bariatric Surgery Devices Market Overview
The global bariatric surgery devices market is predicted to touch USD 2200 million at 5.5% CAGR between 2017- 2023, reveals the new Market Research Future (MRFR) report. Bariatric surgery, simply put, is a process that is utilized for weight loss. Here the size of the stomach is reduced by resecting small intestine in the stomach, or through a gastric band by cutting a section of the stomach.
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Various factors are adding to the global bariatric surgery devices market share. These factors, as per the new MRFR report, include increasing average income of people, rising innovations in R&D of medical devices, favorable reimbursement policies, and the rising awareness about healthcare. Additional factors adding market growth include growing penetration of leading market players, increasing incidence of diseases associated with obesity, rising prevalence of obesity, a growing number of regulatory approvals, and rising technical advanced devices.
On the contrary, lack of awareness about diseases related to obesity in middle-income countries, lack of proper healthcare infrastructure, and costly & complicated surgical procedures are factors that may limit the bariatric surgery devices market growth over the forecast period.
Bariatric Surgery Devices Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global bariatric surgery devices market based on end user, procedure types, and devices.
By devices, the bariatric surgery devices market is segmented into implantable devices, assisting devices, and others. Assisting devices are again segmented into trocars, incision closure devices, stapling devices, suturing devices, and others. Implantable devices are again segmented into gastric emptying devices, electrical stimulation devices, gastric balloons, and gastric bands.
By procedure types, the bariatric surgery devices market is segmented into gastric bypass, biliopancreatic diversion with duodenal switch, mini-gastric bypass, adjustable gastric banding, non-invasive bariatric surgery, revision bariatric surgery, gastric bypass, and sleeve gastrectomy. Of these, the sleeve gastrectomy segment will dominate the market over the forecast period.
By end user, the bariatric surgery devices market is segmented into hospital pharmacies, ambulatory surgical centers, bariatric surgery clinics, and others.
Bariatric Surgery Devices Market Regional Analysis
Based on the region, the global bariatric surgery devices market covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), and the Middle East & Africa. Of these, the Americas will lead the market over the forecast period. Factors boosting market growth include rising prevalence of obesity and diseases related to it, demand for technologically advanced treatments, abuse of drugs and alcohol, rising fast good chain, development of advanced medical treatment choices, funding for research, and increasing government initiatives.
The global bariatric surgery devices market in Europe is predicted to hold the second-largest share over the forecast period. Factors fuelling market growth include the initiatives undertaken by the government for the healthcare sector, the need for improved healthcare infrastructure, increasing healthcare expenditure, and accessibility of advanced treatment facilities.
The global bariatric surgery devices market in the APAC region is predicted to develop at a fast pace during the forecast period for the presence of top players in the region, favorable reimbursement policies, favorable insurance, initiatives undertaken by the government to boost healthcare quality, rise in patient pool owing to obesity-related diseases, and rapid adoption of healthcare technology. Besides, rising awareness about diseases related to obesity and increasing adoption of western culture has resulted in a sedentary lifestyle like consumption of fast foods, smoking, and addiction to alcohol, which results in obesity.
The global bariatric surgery devices market in the MEA is predicted to have the smallest share over the forecast period for limited availability and access to treatment facilities and a lack of awareness. The UAE is the key contributor in the Middle East for the availability of specialty care centers in abundance and development of the healthcare industry.
Bariatric Surgery Devices Market Key Players
Key players profiled in the global bariatric surgery devices market report include Mindray Medical, Defibtech, LLC, Biotronik SE & Co. KG, Stryker Corporation, Boston Scientific Corporation, Koninklijke Philips N.V., Cardiac Science Corporation, Medtronic, and Cardinal Health.
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