Bariatric Surgery Devices Market Highlights:
Bariatric surgery refers to the procedure performed to reduce weight in which the stomach size is reduced either by cutting a small portion of the stomach, by using a gastric band, or by resecting small intestine into the stomach. Undertaking a bariatric surgery has become necessary especially among the obese and the overweight population.
The bariatric surgery devices market is presumed to expand at 5.5 % CAGR during the forecast period (2018-2023) owing to the growing technical advanced devices, asserts Market Research Future (MRFR).
Industry News- A team of surgery doctors from Gleneagles Global Hospitals at Parel have started endoscopic sleeve gastroplasty. Dr Amit Maydeo, a renowned gastroenterologist of the Baldota Institute of Digestive Sciences, Global Hospital claims that this technique has been introduced in the country for the first time. FDA has approved the use of a device called over stitch, which is meant for suture perforation.
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Industry Segmentation
The global bariatric surgery devices market has been segmented on the basis of procedure type, devices, end-user, and region.
By mode of devices, the global market has been segmented into implantable devices, assisting devices, and others. Among these, the assisting devices segment is sub-segmented into suturing devices, stapling devices, trocars, incision closure devices, and others. Implantable devices are further sub-segmented into gastric emptying devices, gastric bands, gastric balloons, electrical stimulation devices, and others.
By mode of procedure, the global market has been segmented into sleeve gastrectomy, non-invasive bariatric surgery, biliopancreatic diversion with duodenal switch, gastric bypass, gastric bypass, adjustable gastric banding, mini-gastric bypass, and revision bariatric surgery.
By mode of end-users, the global market has been segmented into ambulatory surgical centers, bariatric surgery clinics, hospital pharmacies, and others.
Drivers and Constraints Impacting the Market:
The bariatric surgery devices market is mainly driven by the growing technical advanced devices, increasing prevalence of obesity, rise in the number of regulatory approvals, and increasing penetration of key market players. Also, with the increasing healthcare awareness, increasing innovation in R&D of medical devices, and favorable reimbursement policies along with growing average income are some of the favorable factors impacting the global market positively. Moreover, excessive intake of calories along with growing rate of obesity due to changing lifestyle habits are predicted to propel the market during the review period.
On the flip side, lack of proper health care infrastructure, complicated and costly surgical procedures are likely to inhibit the market growth globally. Additionally, a lack of awareness regarding obesity in middle-income industries poses a threat to the growth of the market.
Competitive Analysis by Major Key Players
The major players operating the global market are Mediflex Surgical Products, Intuitive Surgical, Medtronic, Agency for Medical Innovation, TransEnterix, Inc., Aspire Bariatrics, ReShape Lifesciences, EnteroMedics, Inc., Ethicon, Apollo Endosurgery, and others
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Comprehensive Regional Analysis
Geographically, the bariatric surgery devices market spans across regions namely, Europe, America, Asia Pacific, and the Middle East and Africa.
Among all the regions, America has been considered to be the global leader in bariatric surgery devices due to the growing prevalence of obesity in this region. Besides, growing government funding and initiatives for research and development, abuse of drugs and alcohol, increasing food chain, coupled with growing demand for technologically advanced treatment
Europe has been considered to hold the second-largest position in the market owing to the major factors such as growing expenditure on healthcare, availability of advanced treatment facilities, government initiatives for healthcare reforms, and need for better healthcare infrastructure.
Asia Pacific has been presumed to be the fastest growing market due to high adoption rate of healthcare technology, initiatives by the government to increase the quality of healthcare, growing patient-tool due to obesity and related diseases, favorable reimbursement policies along with the presence of major market players like Medtronic and Boston Scientific Corporation.
Moreover, the Middle East and African region are predicted to showcase the least growth rate owing to factors like lack of awareness and limited access to treatment facilities.
