The global bariatric surgery devices Market 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.
Bariatric Surgery is a surgical procedure performed on the stomach or intestines to treat patient with extreme obesity and help them lose weight. This is an elective procedure for patients who cannot lose weight by any other means and are prone to serious health problems related to obesity. These procedures can be invasive or minimally invasive and are performed through open and laparoscopic treatment.
As per WHO, 39% of adult population (aged 18 years and above) were overweight in 2014, and 13% were obese. Obesity has received considerable attention as a major health hazard as it leads to adverse metabolic effects such as High Blood Pressure, Diabetes, Coronary Heart Disease and Ischemic stroke.
Body mass index (BMI) is a simple method of calculating weight-for-height that is commonly used to classify adults as underweight normal weight, overweight, and obese. As per WHO, any person with a BMI greater than or equal to 30 is obese.
Bariatric Surgery procedures are widely accepted across the globe and due to a number of factors, such as increase in the prevalence of obesity, awareness among the obese patients, and increase in the number of surgeons trained in advance surgical techniques, this market is expected to grow at a higher rate during the forecast period.
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Bariatric Surgery Devices Market: Drivers & Restraints
Obesity represents a tremendous cost burden in the healthcare system around the world. With technological advancement and improved treatment for obesity, there is a rapid increase in obese population to choose Bariatric surgery as an ideal method of treatment. Due to the increase in demand of such procedures, specialized devices have been introduced in the market. With the introduction of
minimally invasive Gastric Banding System along with the conventional technique such as Stapling Devices and Gastric Balloons, the market is expected to grow at a higher rate in the forecast period.
Post-surgical complications such as gastric band slippage, gastrointestinal ulcers or bleeding, small bowel obstruction, and hernias associated with the use of bariatric devices are acting as a barrier in the adoption of such treatment.
Bariatric Surgery Devices Market: Segmentation
Bariatric Surgery Devices are broadly classified on the basis of different kinds of bariatric surgery procedures such as Gastric Bypass Surgery, Sleeve Gastrectomy Surgery and Gastric Banding Surgery.
Based on these procedure, the global market is segmented into following devices:
- Stapling Devices
- Gastric Bands
- Gastric Balloons
Bariatric Surgery Devices Market: Overview
With rapid technological advancement and wide acceptance of bariatric surgery procedures among obese patients, the global bariatric surgery devices market is expected to expand at healthy CAGR of around 10% during the forecast period (2016-2025).
Bariatric Surgery Devices Market: Region-wise Outlook
The global bariatric surgery devices market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, global bariatric surgery devices market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2015, North America, and Western Europe dominated the global bariatric surgery devices market in terms of market revenue. Asia Pacific & Japan are projected to expand at a substantial growth and will contribute to the global bariatric surgery devices market value exhibiting a robust CAGR during the forecast period, 2016?2025.
Bariatric Surgery Devices Market: Key Players
Johnson & Johnson, Covidien Plc, Cousin Biotech, and Pare Surgical, Inc., among others are the some of the key companies in the global bariatric surgery devices market. Pharmaceutical and medical devices leaders such as Medtronic has launched flagship devices for sleeve gastrectomy, indicating the positive expansion of the global market. The government funding is also playing a major role in providing manufacturers with the capital required to produce enhanced devices for bariatric surgeries.