The global bariatric surgery devices market will post a CAGR of close to 10% during the period 2019-2023 (Graphic: Business Wire)
The global bariatric surgery devices market is expected to post a CAGR of close to 10% during the period 2019-2023, according to the latest market research report by Technavio.
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The global bariatric surgery devices market will post a CAGR of close to 10% during the period 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the global bariatric surgery devices market is the increasing number of bariatric surgeries. The current sedentary lifestyle of people has led to an increase in the number of people suffering from obesity. This is increasing bariatric surgeries as it is the most effective and durable treatment option for obese patients. The increase in the number of bariatric surgeries can also be attributed to the introduction of laparoscopic surgical techniques in the field of obesity treatment. Laparoscopic bariatric therapy provides greater efficacy with lower risks than conventional surgical procedures. Further, laparoscopic bariatric surgeries offer potential advantages such as reduced invasiveness, reversibility, repeatability, and cost-effectiveness. These factors are expected to drive the growth of the bariatric surgery devices market during the forecast period.
As per Technavio, the adoption of surgical robots in bariatric surgery will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global bariatric surgery devices market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global bariatric surgery devices market: Emerging technological advances in weight loss surgery
In recent years, there has been a significant improvement in the reliability of these procedures owing to recent advances in weight loss surgery or bariatric surgery. Also, some promising new procedures and techniques are expected to be readily available in the future. Primary Obesity Surgery Endoluminal (POSE) is one of the emerging minimally invasive techniques which is performed with a tube extended down the throat. It is a low-risk weight loss surgeries that do not involve any incisions, and the patients can usually go home on the same day. Also, laparoscopic greater curvature plication (LGCP), is another emerging procedure that offers a minimally invasive alternative to other weight loss procedures. These advances will significantly impact the growth of the bariatric surgery devices market during the forecast period.
“Several public and non-profit private organizations are taking strong initiatives to increase awareness and improve the care and treatment of people suffering from obesity. They are also taking initiatives to advance the science and understanding of metabolic and bariatric surgery. Such initiatives are likely to boost the growth of the bariatric surgery devices market during the forecast period,” says an analyst at Technavio.
Global bariatric surgery devices market: Segmentation analysis
This market research report segments the global bariatric surgery devices market by procedure (SG, RYGB, AGB, and other bariatric surgeries) and geographic regions (North America, ROW, Europe, and Asia).
The SG segment held the largest bariatric surgery devices market share in 2018. The SG procedure is gaining immense popularity as it has higher clinical efficiency and facilitates safety and relative ease of performance compared to other major bariatric surgeries.
The North America region led the market in 2018 with a market share of close to 36%, followed by ROW, Europe, and Asia respectively. Although the ROW region held a market share less than North America, it will register the highest incremental growth during the forecast period to dominate the market by 2023.
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Five Forces Analysis
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