global Bariatric Surgery Devices market size is expected to be worth around US$ 12.8 billion by 2030, according to a new report by Vision Research Reports.
The global Bariatric Surgery Devices market size was valued at US$ 12.3 billion in 2020 and is anticipated to grow at a CAGR of 20.15% during forecast period 2021 to 2030.
The growing incidence rate of obesity has led to many government initiatives at regional as well as global level to increase awareness related to obesity and undertake various incidence curbing action plans. For instance, the South Wales government launched the NSW Healthy Eating and Active Living Strategy 2013-2018 for preventing obesity.
In addition, to strategic planning, the governments of developed nations are also funding universities to design strategic interventions to control rising obesity. For the year 2014, New Zealand invested USD 40 million for its Healthy Families NZ anti-obesity initiative. Moreover, industry players are also trying to tackle the rising problem of obesity by launching new products. In February 2017, a startup company, Allurion Technologies, located in Massachusetts, U.S. filed a regulatory filing to report the USD 19 million raised amount out of the target of USD 27 million. The funds were intended to use for the development of non-endoscopic gastric balloon, Ellipse. This device is in the form of a capsule which when swallowed, is inflated in the stomach and deflates after months and is passed out without the need for anesthesia for its removal. This device is anticipated to revolutionize the bariatric surgery devices market due to its ease of use over the forecast period
The demand for non-invasive surgeries is also increasing, as non-invasive surgeries save time, cost, and decrease hospital stay. Governments are also encouraging the use of more incisionless surgeries in order to decrease the cases of infection. For instance, in July 2015, the FDA approved a balloon device, where the balloon is directly swallowed using a sterile solution.
Roux-en-Y Gastric Bypass (RYGB) dominated the bariatric surgery devices market in 2014. Gastric bypass surgeries were performed through open surgery causing large incisions on the belly. Hence, the introduction of laparoscopic bypass surgeries overtook the conventional methods and was performed with small minimal incisions.
Over the past decade, the growing acceptance for laparoscopic surgery has also surged the popularity of this minimally invasive technique for this surgery. Laparoscopic surgery offers more convenience to patients with minimal incision. This surgery makes the stomach a small pouch and allows minimal food to pass into the small intestine. Bypassing the small intestine leads to lesser nutrient and fat absorption and thus helping in weight loss.
Though gastric bypass surgeries dominate the bariatric surgery devices market, it is expected that sleeve gastrectomy will be the fastest-growing market during the forecast period, as it has been recently approved by the FDA and is an incision-less surgery. This procedure has witnessed various developments in recent years. According to the American Society for Metabolic and Bariatric Surgery (ASMBS), out of 179,000 surgeries performed, sleeve gastrectomy accounted for the major share (42.1%) followed by gastric bypass. In June 2012, the Centers for Medicare and Medicaid Services (CMS) released the CMS Laparoscopic Sleeve Gastrectomy National Care Determination under which it provided coverage for laparoscopic sleeve gastrectomy (LSG).
The North America bariatric surgery devices market was the largest in 2014, owing to high obesity rates along with huge government-supported funding and research activities are undertaken by the industry players to evaluate the efficiency of their surgeries to treat obesity. For instance, bariatric surgeries, which were insured by Medicare only for population having BMI 40 and above was revised and decreased to 30 and above. This change benefited a large population who were obese and could not afford the huge surgery, surgeons, and hospital costs. In addition, North America has the highest population with obesity incidences. In 2016, the costs related to obesity ranged from USD 147 billion to USD 210 billion per year.
In addition to government efforts to control obesity, industry players are investing in research to link obesity with various chronic complications. In June 2015, Ethicon, a subsidiary of Johnson and Johnson invested over USD 3.2 million to study the effects of bariatric surgery on Type 2 diabetes and obesity. Moreover, the company also launched three new endocutter and energy products to assist in bariatric surgery procedures. Another industry player, Scitech launched a complete line for endosurgery in the 18th Brazilian Congress of Bariatric and Metabolic Surgery in October 2017.
Obesity in Europe is increasing at an alarming rate with Ireland topping the chart. The report submitted by the WHO on European Modelling Obesity Project stated the various interventions and healthcare cost burden related to obesity, if not addressed. Hence, the government is funding various academic institutes to come up with innovative strategies. In August 2015, the National Cancer Institute (NCI) was awarded a grant of USD 750,000 to the University of Kentucky to study the link between breast cancer and obesity.
Allergan Inc., Covidien Plc, Johnson and Johnson, Intuitive Surgical Inc., GI Dynamics Inc., TransEnterix Inc., USGI Medical Inc., Semiled Ltd., Cousin Biotech, and Mediflex Surgical Procedures.
Adjustable Gastric Band (AGB)
Vertical Sleeve Gastrectomy (VSG)
Roux-en-Y Gastric Bypass (RYGB)
Biliopancreatic Diversion with a Duodenal Switch (BPD-DS)
The U.S. and Canada
The Bariatric Surgery Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Bariatric Surgery Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Bariatric Surgery Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Bariatric Surgery Devices market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Bariatric Surgery Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Bariatric Surgery Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Bariatric Surgery Devices by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Bariatric Surgery Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Bariatric Surgery Devices market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Bariatric Surgery Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Bariatric Surgery Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Bariatric Surgery Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Bariatric Surgery Devices market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Bariatric Surgery Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Bariatric Surgery Devices market. These factors have benefited the growth of the global market for Bariatric Surgery Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Bariatric Surgery Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Bariatric Surgery Devices are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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