With the presence of a large number of players, the global market for Bariatric Surgery Devices features high rivalry and competitiveness among them, says a new report by Transparency Market Research (TMR). The technological capabilities of these players increases competitiveness in the market as each of them is striving to establish themselves as standard in the bariatric surgery devices market.
Some of the top players in the Bariatric Surgery Devices Market are Allergen Inc., Ethicon Inc., EnteroMedics Inc, and Apollo Endosurgery Inc. among others.
The global bariatric surgery devices market stood at US$798.3 mn in 2016 and is expected to reach US$1, 7441.1 mn in 2025 at a CAGR of 9.3% between 2017 and 2025.
FDA Approvals for Multitude of Bariatric Surgery Devices Benefits North America Bariatric Surgery Devices Market
On the basis of device type, assisting devices and implantable devices are the segments into which the bariatric surgery devices market is segmented. In terms of revenue, the segment of assisting devices dominated the market in 2016. Closure assisting devices are expected to lead the market between 2017 and 2025 due to their increasing application in laparoscopic surgeries.
Meanwhile, gastric balloons are the leading segment in implantable devices as there is growing concern about the safety of gastric bands. Gastric balloons are increasingly receiving approvals from FDA and other regulatory agencies in different nations due to their proven safety and accuracy.
By end-user, the bariatric surgery devices market is divided into bariatric surgery clinics, hospital pharmacies, ambulatory surgical centers, and others. Bariatric surgery clinics held the leading share in 2016 due to the services provided by these clinics before and after the surgery. These clinics specialize in bariatric surgery and thus are most suitable for patients undergoing bariatric procedures. The increasing popularity of laparoscopic surgeries as they can be performed in less time and faster recovery is also aiding the growth of bariatric surgery end-use segment. Ambulatory surgical centers is the second-leading growing segment as they are well-equipped to carry out bariatric surgeries.
In 2016, North America stood as the leading market for bariatric surgery devices. With increasing sedentary lifestyle and rising consumption of junk food, obesity is on the rise in the region. Along with obesity, comorbid conditions such as diabetes and hypertension are on the rise. These factors are leading to the growth of North America bariatric surgery devices market. Rising disposable incomes in the region has increased the affordability for bariatric surgery in the region. In addition, increasing number of FDA approvals for bariatric surgery devices is also boosting the growth of this regional market.
Europe is a significantly leading market for bariatric surgery devices. The increasing prevalence of obesity along with a well-developed healthcare infrastructure are the major factors driving this regional market. High disposable income and increasing insurance coverage of bariatric surgery is leading to the rising popularity of bariatric surgery over other interventions for the treatment of obesity.
Proven Effectiveness of Bariatric Surgery over Alternate Treatments Boosts Growth
The rising prevalence of obesity and the most common comorbidities associated with it such as diabetes and hypertensive diseases is driving the bariatric surgery devices market. The proven effectiveness of bariatric surgery over other treatment options and its advantages of cost and faster recovery are leading to the rising popularity of bariatric surgery.
However, health risks associated with bariatric surgical procedures is restraining the market’s growth.
The review presented is based on the findings of Transparency Market Research, titled “Bariatric Surgery Devices Market (Device – (Assisting Devices (Suturing Device, Closure Device, stapling Device, Trocars), Implantable Devices ( Gastric Bands, electrical Stimulation Devices, Gastric Balloons, Gastric Emptying); End-user -Bariatric Surgery Clinics, Hospital Pharmacies, Ambulatory Surgical Centers)) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”