Global Bariatric Surgery Devices Market: Snapshot
Bariatric surgery is mainly used to refer to the number of weight-loss procedures. Bariatric surgical procedures are carried out for the treatment of comorbid condition which are associated with morbid obesity, which require bariatric surgery devices. Bariatric surgery involves modification in the gastrointestinal tract by which either the amount of food that the stomach can intake is restricted or the nutrients that are absorbed in the intestinal tract are restricted.
Bariatric surgery is proven to be effective over alternate treatment options for obesity associated comorbid conditions and is also viable in terms of cost and faster recovery. Moreover, increasing number of facilities that offer bariatric surgical procedures and favorable government policies for bariatric procedures to be covered by insurance are favoring the bariatric surgery devices market.
The global bariatric surgery devices market was valued at US$798.3 mn in 2016 and is expected to reach US$1,744.1 mn by 2025 rising at a CAGR of 9.3% between 2017 and 2025.
Closure Devices Segment to Register Leading CAGR due to Popularity of Minimally Invasive Surgeries
By devices type, assisting devices and implantable devices are the segments of the market. Assisting devices are further sub-segmented into suturing devices, closure devices, stapling devices, trocars, and others. In 2016, the segment of suturing devices held the leading share of the market due to high endorsement of these devices by surgeons. On the other hand, the closure devices segment is expected to register the leading CAGR as they devices are widely used in minimally invasive surgeries that require immediate closure of very small incision done at the time of surgical procedure.
The sub-segments of implantable devices are gastric bands, electric stimulation devices, gastric balloons, and gastric emptying. Among these, gastric bands account for the leading share as they are approved by regulatory agencies and are familiar to physicians as well as patients. Nevertheless, the segment of gastric balloons is expected to register the leading CAGR due to recent approvals from FDA that have proven them to be more safe and effective over other implantable devices.
On the basis of end-user, the bariatric surgery devices market is segmented into bariatric surgery clinics, hospital pharmacies, surgical centers, and others. Among these, in 2016, bariatric surgery clinics led the market due to the increasing popularity of minimally invasive surgeries that can be performed in bariatric surgery clinics. Bariatric surgery clinics are expected to expand at the leading CAGR during the forecast period as these facilities specialize in care needed for patients before and after the procedure. Also, bariatric surgery clinics are preferred by both patients and physicians as they are well-equipped for handling adverse situations.
Asia Pacific to Exhibit Robust Growth Rate
North America is the leading regional market for bariatric surgery devices on account of increasing incidence of obesity and associated comorbidities such as diabetes, sleep apnea predominantly in the U.S. In this region, sedentary lifestyle and increasing consumption of junk food has been the major causes of growing obesity. To address this, increasing number of individuals are undergoing bariatric surgery for weight loss to avoid further complications with the condition.
Europe is also a significant market for bariatric surgery devices due to a well-developed healthcare infrastructure and increasing spending on health and wellness.
However, Asia Pacific bariatric surgery devices market is expected to exhibit the leading growth in the forecast period. Rising economic prosperity in countries such as China and India has led to increased spending on convenience foods, leading to lifestyle diseases such as obesity. This, in turn, has led to the demand for bariatric surgical procedures.
The key players in the bariatric surgery devices market include Apollo Endosurgery Inc., Ethicon Inc., TransEnterix Inc., Agency for Medical Innovations, Cousin Biotech, EnteroMedics Inc., Medtronics Plc., Intutive Surgical Inc., Aspire Bariatrics Inc., and Mediflex Surgical Products.
Global Bariatric Surgery Devices Market: Overview
Bariatric surgery devices are the surgical devices used in the surgeries related to obesity for people with body mass index of more than 40 and more than 35 if they are suffering from comorbidities such as dyslipidemia, type II diabetes mellitus, gastroesophageal reflux, sleep apnea, asthma, and hypertension. Devices which were earlier used for bariatric surgery were the devices used for open surgeries. Recently there is lot of innovation in terms of minimally invasive bariatric surgery devices owing to the convenience and quick surgery. There are two types of bariatric surgery devices assisting and implantable devices. There is lot of innovation in the space of implantable devices which require very less incision. This report studies the current scenario as well as future market potential for bariatric surgery devices globally. This report provides an elaborate executive summary, which includes the market snapshot that provides market dynamics of various segments and sub-segments that are included in the report in a precise manner.
This report provides in-depth analysis of the bariatric surgery devices market. The stakeholders for this report include companies involved in the manufacturing of bariatric surgery devices, companies providing raw material for manufacturing bariatric surgery devices, and companies providing equipment for manufacturing. For providing the snapshot of the market to stakeholders, an executive summary section has been included in the report, which mainly summarizes the market trends, competition and size of different regions.
The market overview section of this report analyzes market dynamics such as drivers, restraints and opportunities that influence the bariatric surgery devices market in the current and future scenario. Market share analysis among the market players is analyzed to signify percentage share of the major players operating in the bariatric surgery devices market. All these factors will help the market players to decide about the business strategies and plans to be incurred in future for strengthening their position in the global market.
Global Bariatric Surgery Devices Market: Market Segmentation
The bariatric surgery devices market has been segmented based on devices type, assisting devices type, implantable devices type, and end-user. Based on assisting devices type, the global bariatric surgery devices market has been segmented into suturing devices, stapling devices, closure devices, trocars, others. Based on implantable devices type, the global bariatric surgery devices market has been segmented into gastric bands, gastric balloons, electrical stimulation devices, and gastric emptying. Based on end-user, the global bariatric surgery devices market has been segmented into bariatric surgery clinics, ambulatory surgical centers, hospital pharmacies, and others.
Geographically, the bariatric surgery devices market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Moreover, analysis for the major countries comprising U.S. Canada, Germany, U.K., Japan, China, Brazil, Mexico, Saudi Arabia and India have also been provided in the report. A detailed qualitative analysis of the factors responsible for driving and restraining the growth of the bariatric surgery devices market in various regions has been provided in this section.
The report provides market estimation of bariatric surgery devices market in terms of revenue (US$ Mn) for all the segments and sub segments with CAGR % for period 2017 to 2025, considering 2016 as the base year. The report also provides the volume of bariatric surgery devices products for all the segments and sub segments with CAGR % for period 2017 to 2025. Furthermore, the report incorporates market attractiveness analysis by geography category that depicts the most attractive region in the global market during the forecast period from 2017 to 2025.
Global Bariatric Surgery Devices Market: Competitive Landscape
This report also includes recommendations section that will assist new companies in establishing their presence and market players in expanding their market share in the bariatric surgery devices market. The report concludes with the company profile section which includes company overview, financial overview, product portfolio, business strategies and recent developments for market players. The major players that are profiled in the report include Apollo Endosurgery Inc., EnteroMedics Inc., Ethicon Inc., Medtronics Plc., TransEnterix Inc., Intuitive Surgical Inc., Agency for Medical Innovations, Aspire Bariatrics Inc., Cousin Biotech, and Mediflex Surgical Products.
The global bariatric surgery devices market has been segmented into:
- Global Bariatric Surgery Devices Market, by Device Type
- Assisting Devices
- Suturing Device
- Stapling Device
- Closure Device
- Implantable Devices
- Gastric Bands
- Gastric Balloons
- Electrical Stimulation Devices
- Gastric Emptying
- Assisting Devices
- Global Bariatric Surgery Devices Market, by End-user
- Bariatric Surgery Clinics
- Ambulatory Surgical Centers
- Hospital Pharmacies
- Global Bariatric Surgery Devices Market, by Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Latin America (LATAM)
- Rest of LATAM
- Middle East and Africa (MEA)
- Saudi Arabia
- Rest of MEA
- North America