A report released by Global Market Insights, the Bariatric Surgery Devices Market size to exceed $ 2.2 bn by 2024, with significant growth forecast for the North American, European and APAC markets.
Selbyville, United States – July 29, 2019 —
Bariatric Surgery Devices Market size is set to exceed USD 2.2 billion by 2024; according to a new research report by Global Market Insights. High demand for minimally invasive surgical procedures will significantly drive bariatric surgery devices market growth over the forecast period. Reduction in post-operative trauma and complications with use of minimally invasive surgical procedure is the major growth driver. Reduced hospital stays, and lesser healing time are other advantages of bariatric surgical devices. Such factors will favor considerable growth in the future.
Increasing government funding will spur demand for bariatric surgeries in upcoming years. For instance, National Institute of Diabetes and Digestive Kidney Diseases (NIDDK) provided about USD 1.3 million to Miriam Hospital in US for development of advanced technologies that support bariatric surgery. This will positively impact adoption of bariatric surgical procedures, thereby driving business growth during the forecast period.
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Minimally invasive surgical device segment accounted for largest revenue of USD 1,378.1 million in 2017. Patients with gastrointestinal diseases using minimally invasive techniques experience less pain, reduced costs of treatment, and recovery time. Improved design to provide maximum efficiency will favor segmental growth in the future.
Sleeve gastrectomy segment is expected to grow at 6.1% during the forecast timeframe. Segmental growth is attributable to lesser number of complications and higher efficacy. According to American Society for Metabolic and Bariatric Surgery (ASMBS), about 59% of bariatric surgeries performed were sleeve gastrectomy. Increasing patient preference and affordability of sleeve gastrectomy will favor segmental growth over forecast timeframe.
U.S. bariatric surgery devices market will grow at 5.6%, owing to high pervasiveness of obesity. According to National Institute of Diabetes and Digestive Kidney Diseases (NIDDK), 1 in 3 adults in U.S. suffer from obesity. High prevalence of obesity coupled with high disposable income and increasing government expenditure on healthcare will further lead to business growth in the future.
Japan bariatric surgery devices market accounted for revenue size of USD 92.6 million in 2017 owing to rising number of bariatric surgical procedures including sleeve gastrectomy. According to NCBI 2015 report, more than 70% sleeve gastrectomy surgical procedures were performed in Japan. In addition, sedentary lifestyle as well as unhealthy diet habits are also contributing factors for obesity that will foster industry growth in upcoming years.
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Chapter 1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
126.96.36.199. Paid sources
188.8.131.52. Unpaid sources
Chapter 2. Executive Summary
2.1. Bariatric surgery devices market industry 3600 synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Procedure trends
2.1.4. Regional trends
Chapter 3. Bariatric Surgery Devices Market Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces
3.3.1. Growth drivers
184.108.40.206. Increasing demand for minimally invasive surgical procedures worldwide
220.127.116.11. Rising incidences of obesity in Asia Pacific
18.104.22.168. Technological advancements in developed economies
22.214.171.124. Increasing government funding for bariatric surgery in developed countries
3.3.2. Industry pitfalls & challenges
126.96.36.199. High cost associated with surgical devices
188.8.131.52. Stringent regulatory scenario in developed countries
184.108.40.206. Dearth of skilled healthcare professionals in developing economies
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By procedure
3.5. Regulatory scenario
3.6. Porter’s analysis
3.7. Competitive landscape, 2017
3.7.1. Strategy dashboard
3.8. PESTEL analysis
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Some of the prominent players involved in bariatric surgery devices market are Apollo Endosurgery, B. Braun Melsungen AG, CONMED Corporation, Ethicon Inc. (Johnson & Johnson), Integra Life Sciences Holding Corporation, Intuitive Surgical, Medtronic, Olympus Corporation, Reshape Lifesciences, and W. L. Gore & Associates, Inc. These firms adopt strategic initiatives including mergers and acquisitions, new product launch and geographical expansion. For instance, in January 2017, Ethicon acquired Megadyne Medical Products, Inc., a medical device company that develops, manufactures electrosurgical tools. This acquisition will help in broadening its product portfolio as well as business revenue.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Name: Arun Hegde
Email: Send Email
Organization: Global market insights
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