Bariatric Surgery Devices | Emerging Innovations Indicates Impressive Growth Rate
According to a new market research report "Bariatric Surgery Devices Market by Type (Minimally Invasive (Stapling, Suturing), Non-Invasive), Procedure (Sleeve Gastrectomy, Gastric Bypass, Revision Surgery, Adjustable Gastric Banding, Mini Gastric Bypass) - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to reach USD 2.16 Billion by 2023 from an estimated USD 1.64 Billion in 2018, at a CAGR of 5.7%.
The key factors driving the growth of Bariatric Surgery Devices Market are the growing obese population, increasing number of bariatric surgery, and increasing preference for minimally invasive procedures.
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By type, the minimally invasive surgical devices are expected to account for the largest share of the market in 2018
On the basis of type, the Bariatric Surgery Devices Market is broadly segmented into minimally invasive surgical devices and non-invasive surgical devices. The minimally invasive surgical devices segment is further subdivided into stapling devices, energy/vessel sealing devices, suturing devices, and accessories. In 2018, the minimally invasive surgical devices segment is expected to account for the largest share of this market. The high growth in this segment can be attributed to the rising obesity rates and the increasing preference for minimally invasive procedures.
Browse and in-depth TOC on "Bariatric Surgery Devices Market"
73 – Tables
29 - Figures
125 - Pages
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By procedure, the sleeve gastrectomy segment is expected to command the largest share of the market in 2018
On the basis of procedure, the market has been segmented into sleeve gastrectomy, gastric bypass, revision bariatric surgery, non-invasive bariatric surgery, adjustable gastric banding, mini-gastric bypass, and biliopancreatic diversion with duodenal switch. The sleeve gastrectomy segment is expected to command the largest share of the market in 2018. The large share of this segment can be attributed to the advantages of sleeve gastrectomy safety, effectiveness, and affordability and limited complications as compared to other bariatric procedures.
North America to dominate the market in 2018
North America is expected to account for the largest share of the Bariatric Surgery Devices Market in 2018, followed by Europe. The large share of this segment can be attributed to the rapidly growing obese population and rise in the number of bariatric surgeries.
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Objectives of the Study
- To define, describe, and forecast the global market by type, procedure, and region
- To provide detailed information regarding factors influencing market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape of market leaders
- To forecast the size of the market in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To profile the key players in the global market and comprehensively analyze their core competencies
- To track and analyze competitive developments such as product launches & approvals, acquisitions, and partnerships, agreements, & collaborations of the leading players in the bariatric surgery devices market
Top-down and bottom-up approaches were used to validate the size of the global market and estimate the size of other dependent submarkets. Various secondary sources such as associations like the World Health Organization, Centers for Disease Control and Prevention, American Society for Metabolic and Bariatric Surgery, International Federation for the Surgery of Obesity And Metabolic Disorders, European Association for the Study of Obesity, Australian Institute of Health and Welfare, directories, industry journals, databases, and annual reports of the companies have been used to identify and collect information useful for the study of this market. Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess dynamics of this market. The breakdown of profiles of primaries is shown in the figure below: