SELBYVILLE, Del., Sept. 16, 2019 /PRNewswire/ -- North America's bariatric surgery devices market was valued over USD $500 million in 2018. High adoption of surgery devices, coupled with the rising prevalence of obesity, will drive the regional growth. Additionally, as the number of bariatric surgeries are increasing annually in North America, the demand for minimally invasive bariatric surgical devices should foster the business' growth.
The sleeve gastrectomy segment accounted for around 44% revenue share in 2018 and will show a considerable CAGR by 2025. Segment growth can be attributable to advantages associated with sleeve gastrectomy, including better patient outcomes, less complications and reduced hospital stays. Furthermore, the increase in adoption of sleeve gastrectomy procedures is expected to propel bariatric surgery devices' business growth.
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The Global Bariatric Surgery Devices Market is poised to surpass USD 2 billion by 2025, according to a new research report by Global Market Insights, Inc. Rising incidences of obesity drive the demand for minimally invasive bariatric surgical devices. Obesity is a major public health concern in the U.S. that has been linked to several health problems, such as breathing problems, diabetes, heart disease, high blood pressure and stroke. Additionally, being obese may increase the risk for numerous diseases, therefore, the FDA has approved four types of devices intended for weight-loss. Also, gastric band, electrical stimulation systems, gastric balloon systems and gastric emptying systems are extensively used to treat overweight individuals. The above-mentioned factors and improving regulatory scenarios for patient's convenience will augment the bariatric surgery devices market growth.
Technological advancements leading to high accuracy will foster the business' growth. Frequent upgradation to newer technology allows the introduction of minimally invasive and incision-less bariatric surgery solutions. Also, a significant rise in the number of obese people will lead to a huge demand for bariatric surgical procedures, thereby boosting the obesity surgical devices industry's growth. Moreover, advancements to minimize undesirable effects and complications post-surgery for better patient outcome further favors the bariatric surgery devices demand. However, dearth of skilled healthcare professionals in developing economies may restrict the bariatric surgery devices market's growth during the forthcoming years.
Browse key industry insights spread across 152 pages, with 160 market data tables and seven figures and charts from the report, "Bariatric Surgery Devices Market Size By Product (Minimally Invasive Surgical Devices [Stapling Devices, Energy/Vessel-sealing Devices, Suturing Devices], Non-invasive Surgical Devices), By Procedure (Sleeve Gastrectomy, Gastric Bypass, Revision Bariatric Surgery, Non-invasive Bariatric Surgery, Adjustable Gastric Banding, Mini-gastric Bypass), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2019-2025" in detail, along with the table of contents:
The minimally invasive surgical devices segment was valued at more than 1 billion in 2018 and will show lucrative growth during the analysis period. Benefits associated with minimally invasive surgical instruments, such as reduced pain, minimized blood loss along with slighter incision length, make it a preferable treatment option, thereby accelerating segmental growth. Moreover, technological advancements in suturing devices and stapling devices substantially increases the demand for bariatric surgery devices.
Some of the prominent industry players operating in the bariatric surgery devices market include B. Braun, CONMED, Intuitive Surgical, Apollo Endosurgery, Medtronic, Integra Life Sciences, Ethicon, Olympus, W. L. Gore & Associates, and Reshape Lifesciences. Numerous initiatives undertaken by business players, including new product launches, mergers and collaborations to sustain in the market will prove beneficial for industry growth. For instance, in February 2017, Medtronic introduced the innovative Signia Stapling System -- a system that provides an automated response to real-time data for minimally invasive surgeries, with an aim to diversify its product portfolio. Furthermore, in May 2016, Apollo Endosurgery and Zillion launched the ORBERA Coach platform. ORBERA is an on-demand telehealth program, and it provides virtual support tailored to the needs of patients who go through the FDA approved ORBERA Gastric Balloon procedure. This strategy has enhanced its existing product portfolio.
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Bariatric Surgery Devices Market Forecasts to 2025
The worldwide bariatric surgery devices market is set to achieve around a 6% CAGR up to 2025, supported by technological advancements coupled with rising incidences of obesity.
SOURCE Global Market Insights, Inc.