ID: MRFR/MED/4649-CR | May 2020 | Region: Global | 123 pages
Bariatric Surgery Devices Market Overview
The Bariatric surgery devices industry makes use of different kinds of instruments for visualization. These visualization instruments help in developing the need for invasive bariatric devices to be used in surgeries. The robotic devices for performing the surgeries related to weight-loss and laparoscopes minimally invasive devices. The wide availability of minimally invasive surgery devices has helped physicians to play a major role in the reduction of surgeries-relayed morbidity. The main aim behind using these devices is to finish the need for surgical incisions further preventing complications related to the post-operative trauma in an individual.
The Bariatric surgery devices market has different aspects that are resulting in the advancement of the use of technology in this market. Product enhancements are going on by the world leaders for better presentability of services towards the target audience. Hence, the bariatric surgery devices market is expected to grow at a CAGR of 6.10% by the end of the forecast future of 2030. The expected Bariatric surgery devices market valuation stands at USD 3,282.27 million.
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.
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.
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.
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.
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 2019, the US Food and Drug Administration (FDA) provided Apollo with a clearance worth 510(k). This was done concerning the use of polypropylene suture in the systems for OverStitch Endoscopic Suturing. The gross margins of the company were drastically improved, and the dependability on the 3rd party was reduced considerably.
The MEE Commercial center by Intuitive Surgical was opened in Freiburg (Breisgau). The global presence of the company improved. Also, in February 2020, Digital Surgery who is a celebrated player in the field of surgical Artificial intelligence, data, and analytics, was acquired by Medtronic. The acquisition was rewarding enough to bring about changes in the surgery platforms, as well as, a broadened portfolio. Johnson and Johnson also launched three endocutter along with energy products concerning bariatric procedures like sleeve gastrectomy, as well as, gastric bypass.
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||
Frequently Asked Questions (FAQ) :
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.