New York, NY, Feb. 08, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Bariatric Surgery Market by Devices Type (Assisting Devices and Implantable Devices) and by Procedure (Sleeve Gastrectomy, Gastric Bypass, Revision Bariatric Surgery, Non-Invasive Bariatric Surgery, Adjustable Gastric Banding, Mini-Gastric Bypass, and Biliopancreatic Diversion with Duodenal Switch): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018-2024”. According to the report, global bariatric surgery market was valued at approximately USD 1,957 million in 2018 and is expected to generate revenue of around USD 3,518 million by end of 2024, growing at a CAGR of around 10.3% between 2019 and 2024.
Bariatric surgery is generally the last option for patients who have failed in the attempt to lose weight with several other means. This treatment boosts weight loss via the restriction of food intake, which is accomplished by decreasing the capacity and size of the stomach, causing malabsorption of calories, which is an effective approach to weight loss in cases of morbid or severe obesity. Due to advancements and improvements in the procedures, it is now possible for surgeons to carry out surgery for weight loss by means of minimally invasive techniques.
Browse through 49 Tables & 29 Figures spread over 110 Pages and in-depth TOC on “Global Bariatric Surgery Market: By Type, Size, Industry Share, Trends, Analysis and Forecast, 2018-2024”.
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According to the American Society for Metabolic and Bariatric Surgery, the bariatric surgery helps in improving or resolving more than 40 obesity-related diseases and conditions, including heart disease, type II diabetes, sleep apnea, certain cancers, high blood pressure, sleep apnea, high cholesterol, and joint problems. According to ASMBS, bariatric surgery results into 56% decrease in mortality rate from coronary artery disease and 60% decrease in mortality rate from cancer along with a major reduction in mortality rates witnessed in colon and breast cancers. ASMBS further estimated 2% drop in mortality rate from diabetes type II and 40% overall drop in mortality rate in people who underwent gastric bypass surgery. Furthermore, the bariatric surgery market growth is majorly driven by the rising incidence of obesity in adults and pioneering robotic technologies resulting in enhanced operational efficiency.
Based on devices, the global bariatric surgery market is segmented into implantable devices and assisting devices. The assisting devices segment is further classified into trocars, suturing device, clip appliers, a stapling device, closure devices, and others. The implantable devices segment is sub-segmented into gastric balloons, electrical stimulation devices, gastric bands, and gastric emptying. Among them, the implantable devices segment will contribute towards the major market share in terms of revenue for global bariatric surgery market. The increasing popularity of minimally invasive surgical procedures will boost segmental growth with the highest CAGR.
Procedure segment in global bariatric surgery market is divided into gastric bypass, non-invasive bariatric surgery, revision bariatric surgery, mini-gastric bypass, sleeve gastrectomy, adjustable gastric banding, and biliopancreatic diversion with duodenal switch. Gastric bypass segment is expected to dominate the market, owing to an increasing preference for gastric bypass surgeries and gastric bypass diet worldwide. The sleeve gastrectomy segment will grow at the fastest CAGR as it is an incision-less surgery. According to the American Society for Metabolic and Bariatric Surgery (ASMBS), total 2, 28,000 surgeries were performed in 2017. Sleeve gastrectomy segment accounted for around 59.39% share during 2017 and it was followed by gastric bypass segment with the share of 17.80% in the same year.
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North America dominates the bariatric surgery market, owing to favorable government framework, high adoption of bariatric surgery, and high prevalence of obesity among the population. In the U.S., severe obesity rate was observed of around 6% affecting nearly 19,710,958 people in 2018, while the obesity rate was about 36% affecting 118,265,752 people in 2018. The U.S. is expected to dominate the North American bariatric surgery market, owing to the high awareness and demand for bariatric surgeries and increasing prevalence of obese population. Moreover, economy, politics, and enhanced awareness will play larger role in growth of bariatric surgery market.
Europe is expected to stand at the second largest position in regional market and is expected to show noteworthy growth in the coming years. Obesity is a serious public health problem in the European region as it is the leading cause of several chronic diseases like diabetes type II, coronary heart diseases, and many more. According to the National Bariatric Surgery Registry, 5,192 operations were held in the years 2012 and 2013 as compared to 5,056 in the years 2015 and 2016. The maximum focus of the European region is on the issues pertaining to healthcare quality and efficiency. High obese population along with growing occurrence of chronic diseases and thriving healthcare sector is expected to propel the bariatric surgery market growth in the region.
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Bariatric surgery market in the Asia Pacific region is expected to grow at the highest CAGR, owing to the increasingly obese population, thriving medical tourism sector, and availability of surgeries at an affordable cost. Changing lifestyles and increasing intake of high-calorie diet & canned food will drive the bariatric surgery market growth in the region during the forecast period. Moreover, rising patient awareness about obesity and its related chronic diseases will drive the bariatric surgery market growth over the estimated timeline.
Latin America market growth is anticipated to be dominated by Brazil, owing to high unmet medical needs and increasing prevalence of obese population. Moreover, the rising disposable income of the population in the region will fuel the bariatric surgery market growth during the estimated timeline. The Middle East and Africa holds the least share in the market, due to lack of reimbursement policies and high costs of treatment.
Browse the full “Bariatric Surgery Market by Devices Type (Assisting Devices and Implantable Devices) and by Procedure (Sleeve Gastrectomy, Gastric Bypass, Revision Bariatric Surgery, Non-Invasive Bariatric Surgery, Adjustable Gastric Banding, Mini-Gastric Bypass, and Biliopancreatic Diversion with Duodenal Switch): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018-2024”Report at https://www.zionmarketresearch.com/report/bariatric-surgery-market
Some of the key players in bariatric surgery market include Ethicon, Medtronic, Intuitive Surgical, Apollo Endosurgery, Reshape Lifesciences, Olympus Corporation of the Americas, Aspire Bariatrics, SpatzFgia, Mediflex Surgical Products, Cousin Biotech, Covidien Plc, and TransEnterix, Inc. among others.
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This report segments the global Bariatric Surgery Market as follows:
Global Bariatric Surgery Market: Devices Type Segment Analysis
- Assisting Devices
- Suturing Device
- Closure Device
- Stapling Device
- Trocars
- Clip Appliers
- Others
- Implantable Devices
- Gastric Bands
- Electrical Stimulation Devices
- Gastric Balloons
- Gastric Emptyingns
Global Bariatric Surgery Market: Procedure Segment Analysis
- Sleeve Gastrectomy
- Gastric Bypass
- Revision Bariatric Surgery
- Non-Invasive Bariatric Surgery
- Adjustable Gastric Banding
- Mini-Gastric Bypass
- Biliopancreatic Diversion with Duodenal Switch
Global Bariatric Surgery Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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