New York, June 03, 2022 (GLOBE NEWSWIRE) -- The bariatric surgery devices market is expected to escalate at a CAGR of 4.5%, from USD 2.1 billion in 2022 to USD 3 billion through 2032.
The COVID-19 pandemic has severely harmed the global bariatric surgical devices market. In the early months of the pandemic, the spread of COVID-19 infection caused a significant drop in sales of bariatric surgery devices in the medical equipment industry. Moreover, during the pandemic, all elective procedures were postponed or cancelled in order to maximize hospital capacity use for COVID-19 patients.
Chronic disorders like high cholesterol, hypertension, and diabetes are also appearing earlier in children. The prevalence of this significant health concern is projected to be a primary driving force behind the bariatric surgery devices market share expansion.
Bariatric surgery devices market trends like established and emerging medical surgeons are improving and qualifying their surgical expertise as bariatric surgery becomes increasingly popular. As a result, demand for bariatric surgical devices is increasing.
The post-surgical consequences are creating a huge obstacle in living with bariatric surgery, hampering the adoption of bariatric surgery devices. North America is anticipated to be the leading region in the bariatric surgery devices market.
Key Takeaways
- The bariatric surgery devices market is predicted to develop at a CAGR of 4.5%, with a market share of US$ 3 Billion through 2032.
- In the United States, the bariatric surgery devices market is estimated to reach US$ 1 Billion, with a CAGR of 4.3% through 2032.
- The bariatric surgery devices market in China is expected to have a prodigious CAGR of 4.2% through 2032, with the expected market share of US$ 208 Million.
- The bariatric surgery devices market in Japan is expected to reach US$ 182 Million, with a steady CAGR of 4% through 2032.
- The bariatric surgery devices market in the UK is expected to have a market share of US$ 119 Million, with a CAGR of 3.6% through 2032.
- The bariatric surgery devices market's minimally invasive surgical devices segment from the type category is predicted to develop at a CAGR of 3.5% through 2032.
- The bariatric surgery devices market's sleeve gastrectomy segment from the procedure category is predicted to develop at a CAGR of 3.7% through 2032.
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Competitive Landscape:
Major key players in the bariatric surgery devices market are Ethicon, Medtronic, Intuitive Surgical, Apollo Endosurgery, ReShape Life Sciences, contributing to the bariatric surgery devices share.
To extend their influence in the bariatric surgery devices market trends, these vendors have used a variety of organic and inorganic growth tactics.
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RECENT DEVELOPMENT:
Partnerships, Collaborations, and Agreements:
- Standard Bariatrics, Inc of Cincinnati, invented the Titan SGS™, a first-of-its-kind device that provides surgeons undergoing sleeve gastrectomy, the most frequent bariatric surgery for obesity, with the industry's longest continuous staple cutline of 23 centimeters.
- Apollo received 510(k) clearance from the US Food and Drug Administration (FDA) in 2019. (k). This was done in regards to the use of polypropylene suture in OverStitch Endoscopic Suturing devices. The company's gross margins increased dramatically, and its reliance on a third party significantly decreased.
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- Intuitive Surgical's MEE Commercial Centre opened in Freiburg (Breisgau). The company's global presence has improved. In February 2020, Medtronic purchased Digital Surgery, a well-known player in the field of surgical artificial intelligence, data, and analytics.
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