According to the latest report published by Credence Research, Inc. “Bariatric Surgery Devices Market By Type (Adjustable Gastric Bands, Intragastric Balloons, Implantable Gastric Stimulators, Gastric Surgery Clamps, Clip Appliers, Sutures, Surgical Staples And Trocars, Others ) – Growth, Future Prospects and Competitive Analysis, 2018-2026,” The worldwide market for bariatric surgery equipment was estimated at US$ 2,006.0 million in 2017 and anticipated to reach US$ 3,163.5 million by 2026, rising to CAGR 5.1% from 2018 to 2026.
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In 2017, the global market for bariatric surgery was valued at US$ 2,006.0 million and anticipated to achieve US$ 3,163.5 million in 2026 at a CAGR of 5.1% over the forecast era. High prevalence of obesity and increased population overweight in both advanced and developing nations, and enhanced burden on health care spending and infrastructure, enhanced demand for bariatric surgery processes. According to the Center for Disease Control and Prevention (CDC), in 2014, more than one-third (36.5 percent) of adolescents in the United States have obesity in excess of 72 million individuals. In addition, in 2014, the incidence of obesity among females (38.3%) was greater than males (34.3%). In addition, the medical costs of obesity in the United States were estimated at $149 billion annually in 2008. In addition, CDC has estimated that by 2030 the rate of obesity will reach 42% with an additional $550 billion in medical expenditures.
The government is structuring strategic measures in several nations to decrease obesity instances. For example,’ Healthy Weight, Healthy Lives ‘ strategy had been implemented by the British government to reverse the increasing tide of obesity and overweight in the population concentrating mainly on kids. In addition, developed countries governments are also financing some of the prominent organizations to create interventions for obesity treatment in conjunction with such projects.
Based on device kinds, the worldwide market for bariatric surgery systems is segmented into clip appliers, adjustable gastric bands, implantable gastric stimulators, intragastric balloons, clamps for stomach surgery, sutures, staples and trocars for surgery, and others. Operational staples and trocars segment resulted the worldwide market for bariatric surgery instruments in 2017 and projected to maintain its lead over the forecast period due to enhanced preference for minimally invasive therapies and compliance with patients.
On the basis of geographical demarcation, North America dominated the global market with more than 30% share in 2017 and projected to hold its dominance during the forecast period. High prevalence of obesity and adoption of advanced treatment technologies in the region drives the North America market. Furthermore, Asia Pacific market is projected to experience the fastest growth during the forecast period. Increase in obesity cases, surge in disposable income, and influx of greater number of patients through medical tourism are the high impact parameters that drive the Asia Pacific market. Although numerous players are marketing their products worldwide, the market is dominated by few major players some of that include Apollo Endosurgery, Inc., Covidien Plc, EnteroMedics, Inc., Ethicon, Inc., Intuitive Surgical, Inc., Reach Surgical, Inc., Spatz FGIA, Inc., TransEnterix, Inc., and USGI Medical, Inc.
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By Product Segment
- Adjustable Gastric Bands
- Clip Appliers
- Implantable Gastric Stimulators
- Intragastric Balloons
- Gastric Surgery Clamps
- Surgical Staples and Trocars
- Others (Closure Devices, Pouches, Shears, Scalpel)
By Geography Segment
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America
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