Germany bariatric surgery devices market will achieve moderate growth of 4.6% in given time-frame owing to accelerating demand for minimally invasive surgical procedures and positive trends in sleeve gastrectomy procedures coupled with rising incidence of obesity.
— U.S. bariatric surgery devices market accounted for 93% market share in 2017 will register remarkable growth driven by growing number of obese people in the country. As per CDC National Center for Health Statistics (NCHS), 39.8% of Americans were found to be obese during 2015-2016. Increasing demand for laparoscopic bariatric surgery will in turn stimulate the adoption of bariatric surgery devices in recent years.
Global Bariatric Surgery Devices Market will hit USD 2.2 billion by 2024; according to a new research report by Global Market Insights, Inc. High demand for minimally invasive surgical procedures will significantly drive bariatric surgery devices market growth over the forecast period. Reduction in post-operative trauma and complications with use of minimally invasive surgical procedure is the major growth driver. Reduced hospital stays, and lesser healing time are other advantages of bariatric surgical devices. Such factors will favor considerable growth in the future.
Escalating prevalence rate of obesity will stimulate the market in forthcoming years. According to WHO, global obese population has tripled from 1975, with over 1.0 billion obese people in 2017 in Asia Pacific. With growing risk factors such as binge eating, alcoholism, sedentary lifestyles and others, obesity incidence will significantly spur in recent years. Increasing disposable income and preference for technologically advanced surgical devices will offer attractive bariatric surgery devices industry growth potential in upcoming years.
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Non-invasive surgery devices segment will witness remarkable growth at 6.1% CAGR during the forecast time-frame. Considerable and effective weight reduction without invasion will drive the demand for non-invasive surgery. Such procedure decreases the size of stomach and avoids need for incisions. Advancement of new devices for non-invasive procedures should impel non-invasive surgery segment growth in the upcoming years.
Sleeve gastrectomy segment is expected to grow at 6.1% during the forecast time-frame. Segment growth is attributable to lesser number of complications and higher efficacy. According to American Society for Metabolic and Bariatric Surgery (ASMBS), about 59% of bariatric surgeries performed were sleeve gastrectomy. Increasing patient preference and affordability of sleeve gastrectomy will favor segment growth over forecast time-frame.
Japan market accounted for revenue size of USD 92.6 million in 2017 owing to rising number of bariatric surgical procedures including sleeve gastrectomy. According to NCBI 2015 report, more than 70% sleeve gastrectomy surgical procedures were performed in Japan. In addition, sedentary lifestyle as well as unhealthy diet habits are also contributing factors for obesity that will foster industry growth in upcoming years.
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Some of the prominent players involved in bariatric surgery devices market are Apollo Endosurgery, B. Braun Melsungen AG, CONMED Corporation, Ethicon Inc. (Johnson & Johnson), Integra Life Sciences Holding Corporation, Intuitive Surgical, Medtronic, Olympus Corporation, Reshape Lifesciences, and W. L. Gore & Associates, Inc. These firms adopt strategic initiatives including mergers and acquisitions, new product launch and geographical expansion. For instance, in January 2017, Ethicon acquired Megadyne Medical Products, Inc., a medical device company that develops, manufactures electrosurgical tools. This acquisition will help in broadening its product portfolio as well as business revenue.
Name: Arun Hegde
Organization: Global Market Insights, Inc.
Release ID: 473648