The bariatric surgery devices market is expected to grow at a CAGR of 6.10% by the end of the forecast future of 2030.
Bariatric Surgery Devices Market Overview
The Bariatric Surgery Devices Market will obtain a CAGR of 6.10 % and USD 3,282.27 million in the forecast period by 2030.
The increasing prevalence of obesity worldwide is driving demand from this industry. Childhood obesity rates are increasing at an alarming rate. Being obese at a young age puts children at a higher risk of developing the disease than adults. In addition, children have early manifestations of chronic diseases such as high cholesterol, high blood pressure, and diabetes.
The growing preference for minimally invasive bariatric surgery as a non-invasive weight-loss method has led to a significant increase in demand for surgical devices for the intimate area. In addition, increasing spending on cystectomy has increased the retail sales of bariatric surgery devices.
Surgeons who specialize in advanced surgical techniques are available. As the need for specialized surgery grows, existing and new surgeons are evolving and improving their surgical skill levels accordingly. Therefore, the demand for terminal surgical equipment has a positive impact.
Local government initiatives are also aiding the market growth. The global demand for minimally invasive surgery (MIS) as a weight-loss option is one of the key factors expected to accelerate the growth and demand for devices in obesity surgery. In addition, the rapid increase of the obese population and the rise of bariatric surgery are believed to contribute to the growth of the Bariatric Surgery Devices Market.
Teleflex is now a part of an agreement that requires it to acquire Standard Bariatrics, an advanced bariatric surgery technology developer and provider. The latter is well-known for its innovative bariatric stapling technology called the Titan SGS. Teleflex will be acquiring the firm with a payment of USD 170 million, with an addition of around USD 130 million payable.
The Titan SGS allows surgeons a constant cutline of nearly 23 centimeters during the sleeve gastrectomy surgery, enabling them to plan and place the staples in a single device firing. This technology’s use will ensure a reduction in variations that are generally seen when multiple overlapping short-cartridge staple firings are used. This might ensure a more secure and safer staple line with lower chances of leaks.
COVID 19 Analysis
Since the global spread of the novel coronavirus, followed by the lockdown regimes, there have been many patients who have been unable to get bariatric surgery. During the ongoing pandemic, and most of the doctors busy with the non-stop treatment of the corona patients, the only services that were available to the patients in public hospitals were oncological procedures, as well as, surgical emergencies. The patients who suffer from morbid obesity were put on hold many times, owing to the unavailability, and demand of the situation.
Also, during the lockdown, obesity rates have increased due to less movement and quarantine periods. COVID 19 has harmed people who have severe obesity issues and found a place on the waiting list. However, slowly, to move out of the situation, and, do the required surgeries, both the doctors and government is joining hands and opting for investments, better infrastructure, and, scheduling to conduct the surgeries.
Despite the COVID-19 outbreak having a grave impact on the supply of crucial surgical devices and the overall financial restraints, Ethicon, part of Johnson & Johnson MedTech, has been going strong. To this end, the company has developed the ECHELON 3000 Stapler, a digitally enabled device that offers surgeons with one-handed, simple powered articulation to cater to every need of their patients.
Designed with around 39% higher jaw aperture and a 27% more articulation span, ECHELON 3000 provides surgeons improved access as well as control over every transection, regardless of the space or a challenging tissue.
Bariatric Surgery Devices Market Dynamics
Obesity has some serious health, mental, and psychological consequences. The excessive amount of body fat can give someone a tough mental time. Because of the same, there is a huge rise in the demand amongst people for bariatric surgery. As per the Centers for Disease Control and Prevention (CDC), globally, 42.4% of people between 2017-2018, were suffering from obesity. 2.7 billion adults along with 1 billion people being adversely affected by obesity, as well as, 177 million adults being severely affected by obesity is an expected rate by the end of the future forecast year od 2025, as released by the World Obesity Federation. Hence, this major health concern and its prevalence are expected to act as a major driving force for bariatric surgery devices market growth.
However, the Bariatric surgery devices market is inclusive of some factors related to the rising product recalling, along with the cost associated with conducting these bariatric surgeries. These are the major restraints causing hurdles in the Bariatric surgery devices market growth.
Standard Bariatrics Inc., a Cincinnati-based company well-known in the bariatric surgery device industry, has completed a USD 35 million Series B round right ahead of schedule. Titan SGS surgical stapler’s successful launch will be the final milestone required to complete the second of the two tranches. The firm got the remaining USD 9 million in funds to accelerate commercialization efforts.
The device’s design will ensure highly consistent staple formation all over the complete 23-centimeter cutline for better staple-line strength as well as fewer malformed staples compared to other types of staplers that provide shorter cartridges for more general surgical use.
Bariatric Surgery Devices Market Cumulative Growth Analysis
The development of the bariatric surgery device market is on a rise due to the increased levels of obesity among different classes of the population. There is a rise in technological advancements and an increase in the demand for metabolic and bariatric surgeries.
The government is also providing regulatory approvals for conducting these surgeries. There is constant work on the development of infrastructure to support surgery-related issues within a specific timeframe. There are reimbursement policies, as well. These steps are being taken up to slowly emerge from the impact of the fatal coronavirus, and for good future growth. All these factors act as great growth opportunities for the bariatric surgery devices market in the future forecast of 2025 with growth at an expected CAGR of 5.90%.
Bariatric Surgery Devices Market Segment Overview
The obesity service devices market has 3 major segments under the market bifurcation. These are type, end-user, as well as, procedure.
Based on type, the Bariatric surgery devices market includes sub-segments like minimally invasive surgical devices along with non-invasive surgical devices. Stapling and suturing devices and their accessories, along with the energy or vessel sealing devices are a part of the minimally invasive surgical device sub-segment. Bariatric surgery devices market sub-segment had the largest market valuation of USD 1,526.39 million in the historic forecast year-end of 2018. A similar result is expected by the bariatric surgery devices market for the forecast period of 2019-2025.
Sleeve gastrectomy, along with the adjustable gastric bands, revision surgeries, gastric bypasses, and much more, are the different procedures in which, the bariatric surgery devices market functions.
The small, medium and large-sized hospitals, along with the specialty and ambulatory surgical centers fall under the category of the end-users of the bariatric surgery devices market.
Medtronic plc, a world-reputed healthcare technology provider, has confirmed three major global-entrance as well as indication expansion approvals with respect to its Hugo robotic-assisted surgery system. This system ensures a minimally invasive surgery, facilitating fewer complications, faster return to daily activities and shorter hospital stays.
Bariatric Surgery Devices Market Regional Analysis
The United States of America, as a part of North America, is expected to have the highest bariatric surgery devices market share in the future forest year of 2025. The main reason behind this is an increase in the quantum of obese people and a sedentary lifestyle that is full of unhealthy eating habits. Following America, is Europe, landing on the second position. The European government is spending greatly on healthcare infrastructure and is on the way to developing methods in conjunction to provide the needful medical services. 6 out of every 10 people in Europe are obese, as per the Cancer Research, UK, and hence, the bariatric surgery devices market is expected to grow.
The Asian-Pacific nations are expected to grow at the fastest rate. There is an increase in obesity-related problems amongst the population of these countries. China and India are the main contenders for speedy growth. A growth CAGR of 5.9% for the future forecast period of 2019-2025 is expected by the Middle East and Africa, too. They are extending the device market to Saudi Arabia, and UAE, as well, thus, helping them mushroom, globally.
Iterative Scopes (USA) has developed SKOUT, a real-time computer-aided polyp detection device that uses advanced computer vision technology to recognize suspicious tissue and provide real-time feedback to gastroenterologists could be a true game-changer for the field of gastroenterology.
Bariatric Surgery Devices Market Competitive Landscape
The competitive landscape includes the major players in the bariatric surgery devices market. These are:
The key market players across the world are working on technology developments with the help of the government’s contribution in the name f capital and investment. Also, there is widely approaching to get regulatory approvals, and thus, make use of bariatric devices, thus, providing, a much-needed boost to the bariatric surgery devices market.
Bariatric Surgery Devices Market Recent Developments
In June 2021
Standard Bariatrics, Inc, in Cincinnati, manufactures - Titan SGS, a device that assists surgeons in performing sleeve gastrectomy, with the industry’s longest continuous staple cutline of 23 centimeters and the common bariatric surgery for obesity,
In February 2020
Intuitive Surgical`s MEE Commercial Centre was opened in Freiburg (Breisga) with an improvement in the global presence. Medtronic brought up Digital Surgery, a well-known player in surgical artificial intelligence, data, and analytics.
Bariatric Surgery Devices Market Report Overview
The bariatric surgery devices market mentions the past, current, as well as future of the market outlook in both the developing and the developed economies. The report also covers the geographical region, along with the market segment that is expected to dominate the bariatric surgery devices market by the end of the future forecast of 2025.
The key players have employed various strategies for increasing their bariatric surgery devices market share. The recent developments are a clear indication of how well will the market be able to perform and meet the forecasted growth and valuation figures. Also, the impact of the global pandemic, its results, and steps to overcome the created situations are discussed.
|Market Size||2030: USD 3,282.27 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Procedure, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Medtronic (Ireland), TransEnterix Surgical, Inc.(US), Johnson & Johnson Services Inc. (US), Apollo Endosurgery, Inc. (US), ReShape Lifesciences, Inc. (US), Intuitive Surgical Inc. (US), Spatz FGIA, Inc. (US), Mediflex Surgical Products (US), Olympus Corporation (Japan), Aspire Bariatrics (US)|
|Key Market Opportunities||These factors act as great growth opportunities for the market in the future forecast of 2025 with growth at an expected CAGR of 5.90%.|
|Key Market Drivers||
Bariatric surgery device market valuation will be 3282.26 in 2030.
The bariatric surgery device market can expand at 6.10% CAGR from 2020 to 2030.
The Americas can dominate the global bariatric surgery device market till 2023 due to prevalence of obesity.
The APAC region can grow at a rapid pace in the global bariatric surgery device market due to adoption of latest healthcare technologies for combating obesity.
Medtronic, Agency for Medical Innovation, Intuitive Surgical, Mediflex Surgical Products, Ethicon, EnteroMedics, Inc., ReShape Lifesciences, Apollo Endosurgery, Aspire Bariatrics, and TransEnterix, Inc. are major players in the global bariatric surgery device market.