Global Bariatric Surgery Devices Market Size To Worth $3.67 Billion By 2030 | CAGR 6.5%Category: Healthcare
Global Bariatric Surgery Devices Market Size To Worth $3.67 Billion By 2030
According to a research report published by Spherical Insights & Consulting, the Global Bariatric Surgery Devices Market Size to Grow from USD 2.5 Billion in 2021 to USD 3.67 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period.
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Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Bariatric Surgery Devices Market Size, Share, and COVID-19 Impact Analysis By Type (Stapling Devices, Energy/Vessel Sealing Devices), By Procedure (Sleeve Gastrectomy, Gastric Bypass), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030)." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/bariatric-surgery-devices-market
In basic terms, bariatric surgery is a type of gastrointestinal weight loss procedure. Gastric banding, gastric bypass, stomach shortening, and stomach stapling are a few of its operations. These techniques are used to address comorbid diseases that are linked to morbid obesity. By limiting the amount of food that can be absorbed by the stomach and the amount of nutrients that can be absorbed by the intestinal system, bariatric surgery devices assist in changing the gastrointestinal tract. For some who have severe obesity and some who are experiencing complications related to obesity, bariatric surgery is a perfectly safe and successful technique.
COVID 19 Impact
Due to the cancellation of elective procedures during the pandemic, COVID 19 has had a substantial negative impact on the growth of the Global Bariatric Surgery Devices Market. For instance, according to a research released by the World Economic Forum in 2020, during the 12 weeks of the peak pandemic disruption, over 28 million elective procedures were scheduled worldwide but were postponed. As things returned to normal over time, demand for bariatric surgery equipment increased while the COVID 19 pandemic market growth was restrained. However, following the pandemic, the restrictions were loosened, which increased the number of patients, which in turn increased the demand for bariatric surgery equipment and is fueling the market's expansion.
Modern robotic technologies, which are enhancing operational efficiency, as well as the rising prevalence of adult obesity, are the key factors driving the global market for bariatric surgery devices. NICE, the National Institute for Health and Care Excellence, advised people with diabetes mellitus to consider bariatric surgery before changing their lifestyles or taking medication. These advancements are projected to speed up industry progress in the following years. Expanding reimbursement coverage and sponsored bariatric treatments by regional governments of industrialised countries are other factors predicted to contribute to market expansion.
Key market limitations include post-operative complications include small bowel obstruction, gastric band slippage, internal bleeding, hernia, and gastrointestinal ulcers. In addition, it is projected that the high price of surgical gadgets and the rigorous regulatory environments in developed nations will restrain market expansion.
The Minimally Invasive Surgical Devices segment registers the highest CAGR over the forecast period
On the basis of type, the global bariatric surgical devices market is segmented into minimally invasive surgical devices, stapling devices, energy/ vessel sealing devices, suturing devices, accessories, non invasive surgical devices. Among these, the minimally invasive surgical devices segment registers the highest CAGR over the forecast period. The rise in obesity cases around the world, the desire for little pain and discomfort, and the requirement for fewer scars and incisions are all factors contributing to the market's segmental expansion.
The Sleeve Gastrectomy segment holds the largest market share over the forecast period
Based on the procedure, the global bariatric surgical devices market is segmented into sleeve gastrectomy, gastric bypass, revision bariatric surgery, non invasive bariatric surgery, adjustable gastric banding, mini gastric bypass, biliopancreatic diversion with duodenal switch. Due to the incision-free procedure that the FDA recently approved, the sleeve gastrectomy category will hold the biggest market share over the projected period. Since the past few years, various advancements in incisionless surgery have been made.
North America is dominating the market with the largest market share over the forecast period
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Due to the rising demand for bariatric procedures and the substantial presence of the major market players, North America is dominating the market with the largest market share over the anticipated period. For instance, Medicare's coverage of bariatric procedures for those with BMIs of 40 or above was changed to cover those with 30 or more. Many people who were fat and unable to pay the high expense of surgeons, operations, and hospital costs have benefited greatly from this transformation.
On the other hand, Asia Pacific is expected to experience the fastest market growth during the projected period due to rising rates of obesity and a rise in medical tourism as a result of less expensive surgery. Various research facilities have been set up by numerous industry players in India to study the factors related to obesity. For instance, to examine the causes of obesity in India, Covidien has opened a new research facility in Hyderabad.
Major vendors in the Global Bariatric Surgical Devices Market include Asenus Surgical US, Inc., B Braun Melsungen AG, Cousin Surgery, Johnson & Johnson, Olympus Corporation, Richard Wolf GmbH, SPATZ FIGA, Inc., Teleflex Incorporated, and USGI Medical, Inc.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Bariatric Surgery Devices Market based on the below-mentioned segments:
Bariatric Surgery Devices Market, Type Analysis
- Minimally Invasive Surgical Devices
- Stapling Devices
- Energy/ Vessel Sealing Devices
- Suturing Devices
- Non-invasive Surgical Devices
Bariatric Surgery Devices Market, Procedure Analysis
- Sleeve Gastrectomy
- Gastric Bypass
- Revision Bariatric Surgery
- Non-invasive Bariatric Surgery
- Adjustable Gastric Banding
- Mini-gastric Bypass
- Biliopancreatric Diversion with Duodenal Switch
Bariatric Surgery Devices Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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