Bariatric Surgery Market: Overview
The term bariatric surgery refers to any surgical procedure performed on the stomach or intestines with a purpose to induce weight loss. Bariatric surgery encompasses a number of procedures; like sleeve gastrectomy, gastric bypass, Band surgery, Duodenal Switch and so on. The basic principle of bariatric surgery is to restrict food intake and to decrease the absorption of consumed food in the stomach and intestines.
Bariatric Surgery Market: Market Dynamics
Increasing occurrence of obesity in adults due to changing lifestyle habits, excessive consumption of calories, government initiatives in increasing awareness about unhealthy food and drinks available in the market, development of cutting-edge robotic technologies resulting in increasing operational efficiency, increasing reimbursement coverage , various NGOs initiative to reduce to cases of obesity like The National Institute for Health and Care Excellence (NICE), rise in disposable income of the population are expected to be the major drivers of the bariatric surgery devices market. In addition, peoples’ preference towards a healthy lifestyle is also responsible for the growth of the market over the forecasted period.
High costs of the surgery which makes it unaffordable for the middle and lower income group is presumed to hinder the growth of the Bariatric surgery market.
Technological advancements and advanced minimally invasive surgeries are few of the opportunities in this market.
Segmentation by type of procedure:
Based on the type of the procedure conducted, the Bariatric Surgery market is segmented as Adjustable Gastric band (AGB), Vertical Sleeve Gastrectomy (VSG), Roux-en-Y Gastric Bypass (RYGB), Biliopancreatic Diversion with a Duodenal Switch (BPD-DS) and others.
Segmentation based on the device type:
Based on the type of the device, the Bariatric Surgery market is segmented as assisting devices and implantable devices. Assisting devices can be further classified as closure devices, suturing devices, trocars, stapling devices, and others; suturing devices lead this segment due to surgeons’ endorsement. Implantable devices are classified as gastric bands, electric stimulation devices, gastric balloons, and gastric emptying, wherein, gastric bands dominate the segment as result of regulatory compliances and operator’s familiarity.
Segmentation based on the regions:
North America is leading the market for bariatric surgery as a result of increased incidence of obesity and diseases like diabetes, sleep apnea; specifically in the U.S. Sedentary work life and increasing consumption of junk food has been the major causes of rising cases of obesity. Europe is also expected to grow owing to increase in the healthcare spending and development of healthcare infrastructure. The rise in the economies of the country has lead to increase in the spending on convenience food leading to lifestyle diseases, in Asia-Pacific, thereby increasing the demand to undergo Bariatric surgery.
Bariatric Surgery Market: Competitors
Few of the key players in the bariatric surgery devices market include Medtronics Plc., Agency for Medical Innovations, Ethicon Inc., EnteroMedics Inc., Intutive Surgical Inc., Apollo Endosurgery Inc., TransEnterix Inc., Aspire Bariatrics Inc., and Mediflex Surgical Products.
Bariatric Surgery Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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- Full in-depth analysis of the parent market
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- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
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- Emerging segments and regional markets
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