Bariatric Surgery Devices Market Industry Analysis Report 2018
Date: 2018-09-11   Author: Rahul Sankrityayan  Category: #industry

Bariatric Surgery Devices Market Industry Analysis Report 2018

Global Bariatric Surgery Devices Market size is projected to experience significant growth from 2018 to 2024.

Rising global burden of obesity across the globe will drive the market growth over the forecast timeline. According to World Health Organization (WHO), in 2016, there were 39% overweight adults and 13% obese adults. Alcoholism, unhealthy eating habits, lack of physical exercise and unhealthy lifestyle are widely augmenting risk of obesity. In addition, obesity rate increased to 18.5% in 2015-2016 and is estimated to continue over the forecast period. Growing trend in prevalence of obesity and associated risk factors will garner significant market share in upcoming years.

Technological advancements will largely impact market growth owing to improved benefits such as less invasive procedures and efficacy. Novel technologies offer quick recovery and lesser complications. For instance, laparoscopic surgery causes few complications and heals at a significantly faster rate. Similarly, robot-assisted surgery for obesity enhancing efficacy and safety will exhibit positive impact on business growth. Moreover, reimbursements for surgeries by certain technologies will substantially boost industry growth over forecast timeframe.

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Increasing access to bariatric surgery along with rising government initiatives will drive market growth during forthcoming years. Government funding coupled with encouragement of less invasive procedures will significantly increase adoption of bariatric surgery devices industry growth in foreseeable years.

However, risk of infections from devices as well as post-operative effects such as hernia, internal bleeding and other effects can hamper market growth. Moreover, product recalls may restrict growth opportunities in forthcoming years.

Non-invasive segment will grow at a momentous rate owing to better benefits offered to patients. Reduced complexities, scars and better rehabilitation after surgical procedure will assist in greater adoption of non-invasive surgery, thereby fostering segmental growth.

Sleeve gastrectomy segment will witness remarkable growth over the forecast period due to less maintenance and reduced complications in comparison with lap bands. Sleeve gastrectomy gives visible weight loss results and insurance coverage scheme is readily available for this procedure. Aforementioned factors should largely impel segmental share.

U.S. bariatric surgery devices will dominate market owing to wide prevalence of obese and overweight population across the nation. Numerous government initiatives, favorable reimbursement policies and availability of technologically advanced devices will remarkably boost industry growth in U.S. during projected timeframe.

Some of the prominent players of global bariatric surgery devices market include Apollo Endosurgery, Aspire Bariatrics, Cousin Biotech, Ethicon, Intuitive Surgical, Mediflex Surgical Products, Medtronic, Olympus, Reshape Lifesciences and Spatz. The competitors undertake various strategies such as product launch, merger and acquisitions for augmenting their prominence in bariatric surgery devices market. For instance, in March 2018, Reshape Lifesciences made an announcement of its agreement with Academy Medical for distribution of Reshape vBloc and reshape Balloon. This distribution agreement will fortify company’s market presence and expand company’s geographical reach.

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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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