February 05, 2020
According to the research report titled ‘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’, available at MarketStudyReport.com, the global bariatric surgery devices market is expected to cross USD 2.2 billion by the year 2025.
According to the report, favorable reimbursement policies along with surging government funding for bariatric surgeries is a major factor driving the bariatric surgery devices market. Various key industry players are primarily focusing on R&D activities in order to develop innovative products. This factor in consort with advancements in technology pertaining to bariatric surgery devices are further aiding the market expansion. Moreover, industry majors are developing minimally invasive surgical instruments in order to improve health outcomes, thereby stimulating the industry outlook.
As per product type, the report states that the minimally invasive bariatric surgical devices segment held 85% share in the year 2018 and is expected to register continuous growth within the subsequent years. This type of device offers benefits such as minimum discomfort, increased accuracy, and less scarring. Additionally, advancements in suturing devices, energy/vessel-sealing, and stapling devices are further fueling the segmental growth.
In terms of procedure, adjustable gastric banding segment is expected to grow with a CAGR of 5.5% during 2019-2025. The increasing awareness pertaining to benefits of adjustable gastric banding, such as minimal post-surgery complications, are facilitating the business scenario.
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Considering the geographical landscape, the report cites that the bariatric surgery devices market in Asia-Pacific was worth USD 390 million in the year 2018. Rising usage of surgical devices in tandem with increased pervasiveness of obesity are augmenting the regional demand for the product. Availability of advanced healthcare infrastructure and shifting preferences towards minimally invasive surgeries are favoring the Asia-Pacific market outlook.
W.L. Gore & Associates Inc., Spatz Fgia, Reshape Lifesciences, Olympus Corp., Medtronic, Mediflex Surgical Products, Intuitive Surgical, Integra Life Sciences Holding Corp., Grena Ltd., Ethicon Inc. (Johnson & Johnson), Cousin Biotech, CONMED Corp., B. Braun Melsungen AG, Aspire Bariatrics and Apollo Endosurgery Inc. are the prominent companies operating in the bariatric surgery devices market.
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