Bariatric Surgery Devices Industry 2018-2023 Ongoing Trend | Growing at Remarkable CAGR of 5.5% with Medtronic, Ethicon, Intuitive Surgical, Apollo Endosurgery and others.

The bariatric surgery devices market is presumed to expand at 5.5 % CAGR during the forecast period (2018-2023) owing to the growing technical advanced devices, asserts Market Research Future (MRFR). Bariatric surgery refers to the procedure performed to reduce weight in which the stomach size is reduced either by cutting a small portion of the stomach, by using a gastric band, or by resecting small intestine into the stomach. Undertaking a bariatric surgery has become necessary especially among the obese and the overweight population.

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Drivers and Constraints Impacting the Market

The bariatric surgery devices market is mainly driven by the growing technical advanced devices, increasing prevalence of obesity, rise in the number of regulatory approvals, and increasing penetration of key market players. Also, with the increasing healthcare awareness, increasing innovation in R&D of medical devices, and favorable reimbursement policies along with growing average income are some of the favorable factors impacting the global market positively. Moreover, excessive intake of calories along with growing rate of obesity due to changing lifestyle habits are predicted to propel the market during the review period.

On the flip side, lack of proper health care infrastructure, complicated and costly surgical procedures are likely to inhibit the market growth globally. Additionally, a lack of awareness regarding obesity in middle-income industries poses a threat to the growth of the market.

Market Segmentation

The global bariatric surgery devices market is segmented on the basis of devices, procedure types, and end-user. According to the product, the market is segmented into assisting devices, implantable devices, 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.

On account of end-user, the market is segmented into bariatric surgery clinics, ambulatory surgical centers, hospital pharmacies, and others.

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 Market Summary

Americas is the global leader in the bariatric surgery devices market owing to 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 good chain, abuse of alcohol and drugs, and rising demand for technologically advanced treatment 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 surgery that was done in the U.S. in 2011 was 158,000. Moreover, key players are coming up with innovative solutions to solve the problem of obesity. In February 2017, Allurion Technologies, filed a regulatory filing to raise funds for the development of a non-endoscopic gastric balloon. The best thing about this drug is that it is in the form of a capsule which when swallowed gets inflated in the stomach and after months get deflated. This device does not require anesthesia for its use and is anticipated to revolutionize the bariatric surgery devices market.

Europe is the second largest market and holds a healthy share in the global bariatric surgery devices 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, and government initiatives of healthcare reform. For instance, according to 2017 statistics presented by the European Society of Cardiology, there were more than 6 million reported new cases of cardiovascular diseases in the European Union and more than 11 million in Europe as a whole. Additionally, Europe spent around 210 Euros in 2015 for the treatment of cardiovascular disorders. Morbid obesity is the primary cause of cardiovascular diseases, and the only treatment to it is bariatric surgery as it does not respond to dieting or exercises. This is expected to have a positive impact on the bariatric surgery devices market.

Asia Pacific is expected to be the fastest growing market owing to the faster adaptation of healthcare technology, increase in patient pool due to obesity-related diseases, government initiatives to increase the healthcare quality, favorable insurance, and reimbursement policies, and key players such as Boston Scientific Corporation and Medtronic setting up their regional headquarters and manufacturing plants in Singapore, China, Japan, Korea, and Australia leading to the growth of bariatric surgery devices. In 2014, New Zealand invested about USD 40 million for its initiative against obesity. Moreover, raising adoption of western culture has led to the increasingly sedentary lifestyle such as addiction to alcohol and smoking and consumption of fast foods which are the direct causes of obesity. Raising awareness about the diseases associated with obesity also contributes to the bariatric surgery devices market growth. However, on the other hand, factors such as lack of skilled healthcare professionals may slow down the market growth during the forecast period.

The Middle East and Africa is expected to show the least growth in the market due to some major factors such as lack of awareness and limited access and availability of treatment facilities. In the Middle East, the United Arab Emirates is the largest market owing to the development of the healthcare industry and rising availability of specialty care centers.

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