ALBANY, New York, Nov. 14, 2017 (GLOBE NEWSWIRE) —
A fresh business intelligence study by Transparency Market Research (TMR) foresees that quite a few new players will make a foray into the global bariatric surgery devices market in the near future, which will further intensify already highly competitive scenario. The report identifies Apollo Endosurgery Inc., Allergen Inc., EnteroMedics Inc., and Ethicon Inc. as some of the key companies currently ahead of the curve in the global bariatric surgery devices market. Most of these players are depending on technological advancements to maintain their shares.
As per the projections of the TMR report, the demand in the global bariatric surgery devices market will increment at a notable CAGR of 9.3% during the forecast period of 2017 to 2025. The report has evaluated that the revenue opportunities in this market, worldwide, were worth US$798.3 mn in 2016, and estimates it to reach a valuation of US$1,7441.1 mn by 2025. In the near future, technologies pertaining to non-invasive procedures are expected to gain focus from these players. For instance, ORBERA bariatric system gained approval of FDA for patients suffering from BMI in the range of 30 to 40. Along the similar lines, CE mark in Europe were received by Intuitive Surgical Inc., allowing it to sell EndoWrist Stapler for Xi surgical systems.
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Based on device type, the TMR report segments the global bariatric surgery devices market into assisting devices that is further sub-segmented into stapling, suturing, closure, trocars, and others, and implantable devices, which is further bifurcated into gastric balloons, gastric bands, electrical simulation devices, and gastric emptying. Currently, the suturing devices segment accounts for the maximum shares, which is a reflection of high endorsement of these devices by surgeons. That being said, the segment of closure devices is expected to exhibit most robust growth rate during the said forecast period as they are commonly used for minimally invasive surgeries that require closure at the earliest. Based on end-users, the global bariatric surgery devices market has been categorized into hospital pharmacies, bariatric surgery clinics, and ambulatory surgical centers.
Geographically, the report picks out North America are most lucrative region on the back of increasing incidences of obesity, diabetes, and sleep apnea in the developed country of the U.S. The prevalence of sedentary lifestyle and growing popularity of junk food are a few other factors driving the North America bariatric surgery devices market. While Europe is another profitable region, the vendors of this market are concentrating on Asia Pacific, which resides a vast population base and the healthcare infrastructure in emerging economies such as India and China is improving.
Improving Healthcare Infrastructure in Emerging Economies Driving Demand
Growing obesity concerns is the primary driver of the growing demand for bariatric surgery devices, which are used for various weight-loss procedures. Increasing spending abilities of urban populations in developed and developed countries alike, increasing demand for procedures that are less-invasive, steady rise in the number of qualified surgeons in the recent past who can properly make use of these devices, and growing competition among the leading vendors that had led to product innovation are some of the other factors reflecting positively on the global bariatric surgery devices market. On the other hand, cost of bariatric surgeries and lack of awareness among large masses of potential customers are a few factors that are obstructing the prosperity of the global market for bariatric surgery devices. That being said, players of this industry are focused on the development of co-morbidity surgeries that can be affordable for larger populations and will further open new opportunities.
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Key Segments of the Global Bariatric Surgery Devices Market
Global Heart Valve Devices Market by Device Type
- Assisting Devices
- Stapling Device
- Suturing Device
- Closure Device
- Implantable Devices
- Gastric Balloons
- Electrical Simulation Devices
- Gastric Bands
- Gastric Emptying
Global Heart Valve Devices Market by End User
- Hospital Pharmacies
- Ambulatory Surgical Centers
- Bariatric Surgery Clinics
Global Heart Valve Devices Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- Saudi Arabia
- Arab Emirates
- South Africa
- Rest of MEA
- Latin America
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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