Outlook on the Bariatric Surgery Global Market to 2027 - North America Dominates the Market and is Expected to do Same in the Forecast Period

DUBLIN, March 7, 2023 /PRNewswire/ -- The "Bariatric Surgery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.

The Bariatric Surgery Market is poised to grow at a CAGR of 5.7% during the forecast period, 2022-2027.

Companies Mentioned

• Medtronic PLC
• Ethicon Inc. (Johnson and Johnson)
• Apollo Endosurgery Inc.
• Aspire Bariatrics Inc.
• Intuitive Surgical Inc.
• B. Braun Melsungen AG
• Olympus Corporation
• The Cooper Companies
• Conmed Corporation
• Cousin Biotech
• Cook Medical

Engineering and Industrial Applications to Witness Significant Growth

Key Market Trends

Gastric Balloons is Expected to Record a High CAGR in the Implantable Device Segment

A gastric balloon also referred to as an intragastric balloon (IGB) or a stomach balloon, is an inflatable medical tool that is momentarily inserted into the stomach to aid in weight loss. The introduction of new products, an increase in patient awareness, collaboration with bariatric surgery centers, and manufacturing optimization to increase operating leverage are some of the factors that are driving the demand for balloons.

According to the study titled "Endoscopic intragastric balloon: a gimmick or a viable option for obesity?" published in the Annals of Transitional Medicine in March 2020, the Orbera gastric balloon results in a pooled total body weight loss (TBWL) of 13.16% after 6 months. Additionally, there was a 26.9 percent excess weight loss compared to controls. Thus, the efficacy of the gastric balloon to treat obesity and help in reducing weight supports the market growth.

Some of the approved Gastric Balloons in the United States include the ReShape Duo Balloon and the ORBERA Balloon. In May 2019, Spatz Medical announced that its newly launched Spatz3 balloon is significantly more effective than any non-adjustable balloon in the market as approved by the United States FDA in a series of clinical trials.

However, market players have employed several different strategies such as the funding and product launch processes. Manufacturer of gastric weight-loss balloons Allurion Technologies has increased its funding by USD 34 million to accelerate its commercialization efforts and entry into the U.S. market for its Elipse Balloon. Thus, due to the above-mentioned reasons, the gastric balloon segment is expected to propel over the forecast period.

North America Dominates the Market and is Expected to do Same in the Forecast Period

North America is expected to dominate the overall market throughout the forecast period. This is due to the increasing number of obese populations across the region. Another driving factor is the availability of better healthcare infrastructure in the region and the rising awareness of bariatric surgery.

In the North American region, the United States holds the largest market share. According to the Centers for Disease Control and Prevention (CDC) in May 2022, from March 2017 to March 2020, 41.9 percent of Americans were obese. The prevalence of obesity in the United States increased from 30.5 to 41.9 percent.

The prevalence of severe obesity rose from 4.7% to 9.2% during the same period. The CDC has identified obesity as a leading cause of preventable death in the United States, and it is one of the leading causes of chronic diseases both worldwide and in the United States. Obesity-related disorders, known as comorbidities, include cardiovascular diseases, diabetes, musculoskeletal disorders, and some cancers.

As per the United States, National Health Statistics Reports published in June 2021, among adults aged 20 and over, the prevalence of obesity was 41.9%, severe obesity was 9.2%, and diabetes was 14.8%. The increase in the prevalence of obesity among the population is expected to drive the bariatric surgery market in the United States.

Furthermore, the presence of an established healthcare infrastructure along with the presence of a large number of market players in the country is expected to boost market growth over the forecast period. For instance, in September 2020, Ethicon, part of Johnson & Johnson Medical Devices Companies, launched ECHELON ENDOPATH Staple Line Reinforcement (SLR), a buttressing device designed to reduce potential complications during bariatric procedures

Furthermore, product launches by the key market players in the region are expected to boost the market growth For Instance, in September 2021, Olympus launched the POWERSEAL advanced bipolar surgical energy devices to Strengthen its Surgical Portfolio. The POWERSEAL devices can be used in numerous forms of surgical intervention including bariatric surgical procedures.

Similarly, in June 2021, Ethicon, part of the Johnson & Johnson Medical Devices Companies launched the ENSEAL X1 Curved Jaw Tissue Sealer for colorectal, gynecological, bariatric surgery, and thoracic procedures.

Thus, the high prevalence of obesity and the increasing adoption of bariatric surgeries in the United States, along with increasing insurance coverage, are expected to drive the bariatric surgery market during the forecast period.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Obesity Patients
4.2.2 Prevalence Rate of Type 2 Diabetes and Heart Diseases
4.2.3 Government Initiatives to Curb Obesity
4.3 Market Restraints
4.3.1 High Cost of Surgery
4.3.2 Lack of Knowledge and Awareness in Developing and Underdeveloped Countries
4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Device
5.1.1 Assisting Devices
5.1.1.1 Suturing Device
5.1.1.2 Closure Device
5.1.1.3 Stapling Device
5.1.1.4 Trocars
5.1.1.5 Other Assisting Devices
5.1.2 Implantable Devices
5.1.2.1 Gastric Bands
5.1.2.2 Electrical Stimulation Devices
5.1.2.3 Gastric Balloons
5.1.2.4 Gastric Emptying
5.1.3 Other Devices
5.2 Geography

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/jdqmok

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