Bariatric Surgery Devices Market is Expected to Reach $4.59 bn by 2027
The Bariatric Surgery Devices Market was valued at US $2.19 billion in the year 2019 and is estimated to reach US $4.59 billion by 2027, at a CAGR of 9.71%.
Bariatric surgeries are weight loss management surgeries performed for obesity people when diet and exercise haven't worked and associated with serious health problems. Bariatric surgeries are preferred in people with Body Mass Index (BMI) more than 35. There are two types of bariatric surgeries, they are restrictive surgery, where slowing down of digestion is done by physically restricting size of stomach and malabsorptive restrictive surgery where removal of parts of the digestive tract, interfering with absorption of calories done along with stomach size restriction.
Excessive fat accumulation in the body results in obesity leading to associated health risks such as cardio vascular diseases, diabetes, orthopedic disorders, etc. Previously, it was thought that obesity was prevalent only in the high-income countries. However, this has drastically changed in the recent times where the rate of obesity is increasing even in the middle- and low-income countries. It is also a fact that >30% of the world’s population are either overweight or obese. This rise in obesity can be attributed to several factors such as sedentary lifestyle, change in the eating habits, lack of physical activities, stress, hypertension, age, etc.
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During 2011 to 2017 time period, more than 1.3 million people underwent bariatric surgery globally. In US, sleeve gastrectomy accounted for 42.2% of the total gastric bypass surgery. EU bariatric surgery market accounted for $460 million in 2018 alone. Roux-en-Y Gastric Bypass (RYGB) dominated the bariatric surgery devices market in 2017. Closure devices are expected to account major market share in the forecast period as they are more promptly used in minimally invasive surgery.
The major drivers for Bariatric surgery market include increased incidence of obesity, unhealthy lifestyle, patient awareness and acceptance. Product recalls, high treatment cost and side effects due to surgery are major market restraints.
Development of minimally invasive laparoscopic procedures, advanced bariatric surgery methods and reimbursement policies might enhance the market growth positively. Robotic-assisted surgeries through a few small incisions are set to fuel the market growth in the forecast period.
North America holds major bariatric surgery market share due to increased demand of surgery and high healthcare spending with better infrastructure with more than 50% population owing to rising incidence of obesity. Asia Pacific region might account as fastest growing market due to increased patient awareness and rising prevalence of obesity. Asia-Pacific market is expected to grow at 10.42% during the forecast period. Major companies for Bariatric Surgery market include Medtronic Plc, Becton, Dickinson and Company, W. L. GORE, Ethicon Endo-Surgery (Subsidiary of Johnson & Johnson), Baxter, Cook Group, Reshape Medical and more... According to clinicaltrials.gov, there are around 100 clinical trials for Bariatric surgery candidate.
Based on Procedure (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn):
- Adjustable Gastric Band
- Vertical Sleeve Gastrectomy
- Roux-en-Y Gastric Bypass
- Biliopancreatic Diversion with a Duodenal Switch
Based on Device (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn):
- Assisting Devices
- Suturing Device
- Closure Device
- Stapling Device
- Implantable Devices
- Gastric Bands
- Electrical Stimulation Devices
- Gastric Balloon Systems
- Gastric Emptying Systems
Based on Geographic Region (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- North America
- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Bariatric Surgery Market, 2015 to 2018
- Forecast of the Bariatric Surgery Market Growth till the year 2027
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Bariatric Surgery Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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