Industry Outlook
Bariatric surgery devices market estimated to reach US$ 3,163.5 Mn by 2026 from US$ 2,006.0 Mn in 2017, at CAGR of 5.1% during the forecast period. Bariatric surgery employs numerous techniques for treating obesity such as balloon placement or banding of the stomach. According to American Society for Metabolic and Bariatric Surgery, in 2010, sleeve gastrectomy accounted for 9.3%, while gastric bypass surgery account for 58.4% procedures and 28.8% were gastric band procedures in the United States. This trend changed within few years due to increased adoption of sleeve gastrectomy surgery, where sleeve gastrectomy and gastric bypass counted for 49% and 43.8% share respectively and the share of gastric band procedures has plummeted to 6%. Such drastic change in the adoption of procedures has affected the dynamics in the global bariatric surgery market. According to our report, the market share (in terms of value) of the gastric band has decreased to less than 10% in 2017. Containment in post-surgical infection, faster treatment outcomes, and permanent nature of this procedure have led to increased adoption of sleeve gastrectomy. Furthermore, with the increased adoption of minimally invasive therapies globally, the market of devices engaged in these surgeries have surged in the recent years. For instance, surgical stapling and trocars contribute more than 30% of the market share in 2017.
According to a study published by Gen re Business School, the prevalence of obesity in Asia Pacific vary from 28.3% in New Zealand to 1.7% in Vietnam in 2008. Further, the prevalence of obesity in china increased to 27.9% in 2013 from 11.3% in 1980. Such high growth of obesity coupled with increased prevalence in the region contributes to the growth of the Asia Pacific market. Additionally, Asia Pacific expected to be the most lucrative market owing to growing urban population, favorable government initiatives, increasing medical tourism and high prevalence of obesity. Furthermore, growth in Middle East & Africa is higher than the global growth rate of the market tailing Latin America.
Surgical Staples and Trocars are leading the global bariatric surgery market
In 2017, surgical staples and trocars segment dominated the market with more than 30% value share. With the adoption of advanced technologies in terms of safety outcomes, the segment is expected to retain its dominance during the forecast period. Different types of bariatric surgeries utilize a variety of surgical devices ranging from adjustable gastric bands to gastric surgery clamps. Majority of the devices used in bariatric surgeries are reusable, thereby poised to grow at a steady pace throughout the forecast period. However, the adoption of the surgeries involving intra-gastric balloons and gastric bands has reduced in the recent years with the introduction of minimally invasive surgeries, which affects the growth of market for these devices. Furthermore, certain players including Medtronic have introduced implantable gastric stimulators in the market and the device has performed well in the treatment of obesity. Additionally, implantable gastric stimulators segment is opined to experience a surge during the forecast period owing to higher demand for minimally invasive therapies.
Asia Pacific estimated to experience the fastest growth during the forecast period
In 2017, the global bariatric surgery market was led by North America with more than 35% revenue share. According to the Center for Disease Control and Prevention (CDC), one-third of the U.S adults are obese. The surge in obesity cases has led to the increase in demand for bariatric surgery, thereby making North America a prominent regional market. In terms of market value, Europe followed North America in 2017 and estimated to follow the pattern during the forecast period. High obesity rates clubbed with high penetration of technologically advanced procedures are considered as major market drivers in Europe. Furthermore, promising government initiatives in the region are also estimated to play a crucial role in the growth of the market. In terms of obesity and overweight prevalence, Asia Pacific follows North America. High prevalence combined with the presence of vast available opportunities expected to aid Asia Pacific to experience the fastest growth during the forecast period.
Manufactures/Key players riding high on stapling devices as major revenue contributors
In 2014, Medtronic and Covidien entered an agreement to merge with an intention to not just buy out the competition, but also diversify the product offering. Covidien has highlighted the sales of stapling devices in its annual report and titled staplers as the most prominent revenue generating products. Furthermore, the global market is projected to surge during the forecast period owing to launch of innovative technologies for the treatment of obesity. For instance, in February 2017, Medtronic launched an innovative surgical stapler for minimally invasive bariatric surgery, Signia Stapling System. The market players are focusing on the development of minimally invasive therapies for ensuring patient compliance. Other prominent players in this market include Apollo Endosurgery, Inc., Ethicon, Inc. and Intuitive Surgical, Inc.
This report further elucidates the key qualitative assessment factors including market drivers & restraints, market trends to aid in enhanced understanding of bariatric surgery devices market. Furthermore, the key players are graphically mapped based on their product offering, business strength and market strategies. The attractive investment proposition is presented based on device type and geographical research. Major players that are profiled in the report 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.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Bariatric Surgery Devices market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
