03-Oct-2019 | Zion Market Research
Zion Market Research has published a new report titled “Adjustable Gastric Banding Market By Product (Lap-Band and Realize Band) and By End-User (Hospitals, Healthcare Facilities, Medical Diagnostics Sector, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global adjustable gastric banding market was USD 65 million in 2018 and is expected to generate around USD 127 million by 2025, at a CAGR of around 9.84% between 2019 and 2025.
An adjustable gastric band is used around the top portion of the stomach and is also called LAGB, a lap-band, or A-band. It is a silicone device that is inflatable and treats obesity. It is meant to decrease food consumption and is a form of bariatric surgery, specially created to treat obesity in patients.
Browse the full “Adjustable Gastric Banding Market By Product (Lap-Band and Realize Band) and By End-User (Hospitals, Healthcare Facilities, Medical Diagnostics Sector, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/adjustable-gastric-banding-market
The adjustable gastric banding market will grow rapidly in the years ahead, owing to the increasing incidences of obesity and diabetes globally. The number of minimally invasive surgeries performed is on the rise, due to the accelerating prevalence of diabetes. This, in turn, generates the need for gastric bands and drives this global market. However, the lack of reimbursement policies and expensive gastric bands may impede the adjustable gastric banding market globally. There are many robotic systems that have been developed for gastric banding that provide many growth opportunities.
The adjustable gastric banding market is divided based on product and end-user. Based on the product, the market is divided into lap-band and realize band. The realize band segment is gaining market share exponentially, as it is a medical device that is implanted in a laparoscopy surgery. It is manufactured by companies like Obtech Medical. It is a minimally invasive procedure that is used to treat morbid obesity.
By the end-user, the market for adjustable gastric banding includes hospitals, healthcare facilities, medical diagnostics sector, and others. The presence of a large number of patients suffering from obesity-related diseases and the development of advanced tools has resulted in the rising share of hospitals in this market.
North America leads the adjustable gastric banding market, due to the increasing obese population in the U.S., rising awareness among people to focus on their health, and escalating healthcare expenditure. The American Society for Metabolic and Bariatric Surgery (ASMBS) has recommended the use of gastric bands and, in severe cases, bariatric procedures and intragastric balloons. The European market holds a large share globally, owing to a large number of medical devices approved by the FDA, which are necessary to boost the growth of the adjustable gastric band market in the region. The European region has continuously emphasized the importance of healthcare efficiency and quality. The Asia Pacific will show a significant CAGR in the adjustable gastric banding market in the future, owing to the high obese population and increasing incidence of chronic diseases. The healthcare sector is expected to flourish in the region’s developing countries, which will fuel medical tourism and affordable surgeries involving gastric bands across the region. This will further drive the region’s adjustable gastric band market.
Some key players in the adjustable gastric banding market are Aspire Bariatrics, Olympus Corporation of the Americas, Apollo Endosurgery, Ethicon, SpatzFgia, Intuitive Surgical, Mediflex Surgical Product, and ReShape Lifesciences.
This report segments the global adjustable gastric banding market into:
Global Adjustable Gastric Banding Market: By Product
Global Adjustable Gastric Banding Market: By End-User
Global Adjustable Gastric Banding Market: By Region
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