ALBANY, New York, January 31, 2019 /PRNewswire/ --
The revenue generated by the global bariatric surgery devices market stood at US$0.79 bn in 2016 and is anticipated to touch valuation of US$1.74 bn by 2025 end. The global bariatric surgery devices market is expected to expand at a healthy CAGR of 9.3% during the course of forecast period from 2017 till 2025.
On the basis of end user, bariatric surgery clinic is likely to dominate global bariatric surgery devices market in the coming years. This is owing to growing demand for minimally invasive surgeries that were generally performed in bariatric surgical clinics. From a geographical point of view, North America is expected to dominate global bariatric surgery devices market owing to rising obesity, diabetes, and sleep apnea in the North America's region. In order to address these diseases, the demand for bariatric surgery devices has increased in recent years.
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Rising Prevalence of Diabetes and Obesity to Boost Global Bariatric Surgery Devices Market
Increasing prevalence of obesity and changing lifestyles are likely to be key factors propelling demand for the global bariatric surgical devices in emerging countries. The growing health concern and rising incidences of obesity in developing countries are other factors largely expected to contribute towards growth of this market in the coming years. Moreover, growing government initiatives to spread awareness among the population regarding the unhealthy food and drinks are expected to be another factors stimulating growth of this market in the upcoming years.
Favorable government policies in emerging countries and increasing reimbursement policies are the major drivers supporting growth of the global bariatric surgery devices market in the foreseeable future.
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High Expenses associated with Bariatric Surgeries Likely to Hamper Market Growth
On the other hand, high expenses associated with bariatric surgeries is one of the key factors negatively impacting overall growth of the global bariatric surgery devices market. In addition, lack of awareness about bariatric surgeries in large number of population is likely to exist as a factor negatively impacting growth in this market in the near future. However, growing innovations in the medical field and high investments poured by prominent players in research and development activities are key factors expected to reduce restraints affecting the market. in this way, many players could strengthen their foothold across the globe. Increasing efforts by manufacturers is likely to generated growth opportunities in the global bariatric surgery devices market in the coming years.
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The global bariatric surgery devices market is likely to experience intense competition, thanks to the presence of numerous regional and international players, finds Transparency Market Research (TMR). Key players are adopting various business strategies such as mergers and acquisitions in order to strengthen their presence across the globe. In addition, the companies are focusing on facilitating research and developmental activities and also using advanced technologies in order to develop state-of-the-art surgical devices. Major businesses operating in the global bariatric surgery devices are Intutive Surgical Inc., TransEnterix Inc., Medtronics Plc, and Cousin Biotech.
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The study presented here is based on a report by Transparency Market Research (TMR) 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."
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