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Bariatric surgery devices market will exceed USD 2.2 billion by 2025. Increasing government funding along with favorable reimbursement scenario for bariatric surgeries in developed economies is one of the major drivers fostering bariatric surgical devices industry growth. For instance, the American Society for Metabolic and Bariatric Surgery (ASMBS) provides research funding, that proves beneficial for the business growth.Additionally, rising research funding and huge investments in R&D activities by notable industry players will bolster the bariatric surgery devices market growth. Several other organizations offer financial assistance to the patients undergoing bariatric surgery that further provides full reimbursement in certain cases. Increasing government funding and private institutions will increase patient preference towards bariatric surgeries, thereby augmenting the industry growth.
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Rapid technological advancement leading to development of bariatric surgical devices with high accuracy level and reliability for efficient patient management will serve to be another major impact rendering factor in the business growth. Recurrent upgradation of technology allows introduction of incision less and minimally invasive bariatric surgery solutions. Moreover, focus of manufacturers on developing minimally invasive bariatric surgery devices to cater to patient needs will offer ample growth opportunities. For instance, in May 2016, Apollo Endosurgery launched Orbera Coach platform, a non-surgical, incision-less weight loss procedure designed to meet specific needs of patients undergoing bariatric surgery. Availability of such devices to improve overall health conditions should augment industry growth over the forecast period. However, strict regulatory guidelines may impede the demand for minimally invasive bariatric surgical devices.
Minimally invasive surgical devices accounted for more than 85% revenue share in 2018 and should witness considerable growth during the foreseeable future. Various benefits associated with minimally invasive surgical instruments including less scarring, increased accuracy, minimum discomfort after procedure and smaller incisions among others make it a preferable treatment option among patients. Moreover, advancements in stapling devices, energy/vessel-sealing devices and suturing devices will increase the demand for minimally invasive bariatric surgery devices.
Adjustable gastric banding segment is anticipated to witness around 5.5% CAGR over the analysis period. Segment growth can be attributable to advantages associated with adjustable gastric banding including minor incision of stomach and rerouting of intestines. In addition, this procedure has lowest risk of post-operative complications as compared to others, thereby augmenting its demand during the forthcoming years.
Asia Pacific bariatric surgery devices market was valued over USD 390 million in 2018. Increasing adoption of surgical devices along with rising prevalence of obesity will drive the regional business growth. Several advancements in healthcare facilities and growing patient preference towards minimally invasive procedures should further spur Asia Pacific bariatric surgery devices industry.
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Few notable business players operating in bariatric surgery devices market include Intuitive Surgical, Olympus, Integra Life Sciences, Reshape Lifesciences, CONMED, B. Braun, Medtronic, Ethicon, W. L. Gore & Associates and Apollo Endosurgery. Business players focus on various strategies including collaborations, mergers and novel product launches to sustain market competition. For instance, in June 2016, Aspire Bariatrics, Inc announced its U.S. FDA approval for the AspireAssist, a weight loss device. The new product approval helped company to expand its bariatric surgery product portfolio and capitalize on market opportunities.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Bariatric Surgery Devices Industry Insights
Chapter 4. Bariatric Surgery Devices Market, By Product
Chapter 5. Bariatric Surgery Devices Market, By Procedure
Chapter 6. Bariatric Surgery Devices Market, By Region
Chapter 7. Company Profiles
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Related Report:
Global Bariatric Surgery Devices Market Insights, Forecast to 2025
Undertaking a bariatric surgery has become relatively necessary for the majority of the global population, especially the obese and the overweight demographic. The fact that obesity is one of the most prevalent and endangering health disorders has increased the awareness about bariatric surgery and devices. The demand for bariatric surgery devices has registered a considerable surge by the virtue of growing preference for less-invasive bariatric surgeries. Additionally, the rising expenditure on weight loss procedures has promoted the sales of bariatric surgery devices at the individual level. Regional government initiatives are also influencing the growth of the global market for bariatric surgery devices.
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