Global Bariatric Surgery Devices Market Expected to Reach US$2.78 Billion by 2029, Driven by Rising Demand for Minimally Invasive Procedures
The global bariatric surgery devices market is poised for steady growth, with a projected market size of US$2.78 billion by 2029 according to Maximize Market Research. This signifies a CAGR (compound annual growth rate) of 5.63%, fueled by the increasing prevalence of obesity and a growing preference for minimally invasive surgical procedures.
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Market Overview: Addressing Obesity with Advanced Surgical Tools
This report by Maximize Market Research empowers businesses and stakeholders in the bariatric surgery devices landscape with valuable insights. It offers a comprehensive analysis of market trends, industry dynamics, and key market segments, providing a roadmap for informed decision-making and capitalizing on growth opportunities.
Market Scope: Unveiling the Bariatric Surgery Devices Landscape
The report delves deep into the global bariatric surgery devices market, encompassing market size, share, growth trends, and future prospects. It equips readers with vital statistics and analytical data on consumer demand, top players, industry summaries, and various bariatric surgery applications. Additionally, the report explores the value chain, technological advancements, and the different bariatric surgery device types and functionalities shaping the market.
Segmentation: A Multifaceted Market
The bariatric surgery devices market is segmented based on product type, procedure, and end-user, offering a granular view of market dynamics.
By Product Type:
- Minimally Invasive Surgical Devices: This dominant segment is witnessing significant growth due to the benefits of minimally invasive procedures, including reduced patient recovery time and scarring. It encompasses stapling devices, energy/vessel sealing devices, suturing devices, and accessories.
- Non-invasive Surgical Devices: This emerging segment holds promise for the future, offering options like gastric balloons and electrogastro stimulation for weight management.
By Procedure:
- Sleeve Gastrectomy: This laparoscopic procedure is expected to hold the largest share due to its effectiveness and minimally invasive nature.
- Gastric Bypass: This established procedure remains prevalent, offering a long-term solution for weight loss.
- Revision Bariatric Surgery: The rising number of revision surgeries due to complications or weight regain is driving demand for related devices.
- Other Bariatric Procedures: This segment includes adjustable gastric banding, mini-gastric bypass, and biliopancreatic diversion with duodenal switch.
By End-User:
- Bariatric Surgery Clinics: These specialized facilities are the primary users of bariatric surgery devices.
- Hospital Pharmacies: Hospitals with bariatric surgery programs maintain a stock of necessary devices.
- Ambulatory Surgical Centers: The growing popularity of outpatient bariatric procedures is increasing demand for devices in these centers.
Market Players: A Competitive Landscape
The bariatric surgery devices market features a well-established landscape with leading players and emerging innovators vying for market share. Here’s a glimpse of some of the key players:
- Apollo Endosurgery Inc.
- Ethicon Inc. (Johnson & Johnson)
- TransEnterix Inc.
- Agency for Medical Innovations
- Cousin Biotech
- EnteroMedics Inc.
- Medtronic Plc
- Intuitive Surgical Inc.
- Aspire Bariatrics Inc.
- Mediflex Surgical Proceduress
- Allergan Inc.
- Covidien Plc
Regional Analysis: A Global Market with Diverse Growth Patterns
The report offers a segmented geographical analysis of the bariatric surgery devices market, covering key regions like North America, Europe, Asia Pacific, and the Middle East & Africa. North America is expected to dominate the market throughout the forecast period due to a high prevalence of obesity, well-established healthcare infrastructure, and insurance coverage for bariatric procedures. The Asia Pacific region is projected to witness the fastest growth rate due to factors like rising disposable income, increasing awareness about obesity, and a growing medical device manufacturing base.
COVID-19 Impact Analysis: Adapting to Changing Needs
The report acknowledges the impact of COVID-19 on the global economy and its influence on the bariatric surgery devices market. While the pandemic initially caused delays in elective surgeries, the market is expected to rebound as hospitals resume normal operations and people prioritize health and wellness post-pandemic. The report explores how the growing adoption of telemedicine consultations could potentially influence future bariatric surgery procedures.
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