The global bariatric surgery device market is set to experience significant growth over the next decade, driven by increasing incidences of chronic diseases such as diabetes, hypertension, and obesity. According to a new report by Future Market Insights, the market is projected to grow at a compound annual growth rate (CAGR) of 6.4% between 2024 and 2034, reaching a valuation of USD 3,440.8 million by the end of the forecast period. In 2024, the market is estimated to be valued at USD 1,850.3 million.
This growth is attributed to rising awareness about the adverse health effects of excessive weight and obesity, leading to an uptick in the number of bariatric treatments worldwide. As unhealthy dietary habits, alcohol consumption, and sedentary lifestyles continue to contribute to rising obesity rates, there is an increasing demand for effective weight-loss surgeries. Bariatric surgery devices are essential in these procedures, which have become more accessible, particularly in developed and developing economies where individuals have the financial means to afford such surgeries.
Key Market Drivers:
- Increase in Chronic Diseases: The rise in obesity-related chronic diseases, such as diabetes and hypertension, is fueling the demand for bariatric surgery devices.
- Growing Awareness of Health Risks: Awareness campaigns about the health risks associated with obesity are encouraging more people to seek bariatric treatments.
- Cost-Effective Surgical Options: As healthcare systems develop, the affordability and accessibility of bariatric surgeries have improved, particularly in emerging markets.
The report highlights that developed and developing countries are witnessing a surge in bariatric treatments due to the rising disposable income of the population, making these surgeries more accessible. The demand for advanced bariatric surgery devices is expected to continue to grow as awareness of the long-term health benefits of weight-loss surgeries increases.
In response to the challenges posed by the pandemic, FMI embraced a multidisciplinary approach, steering a focused effort on the growth and development of the Global Bariatric Surgery Devices Industry. The study not only provides crucial insights into the current growth dynamics but also outlines major revenue reforms that prevailed in the market as of 2021. Furthermore, it offers key takeaways anticipated to shape the market over the forecast period.
Healthcare Industry
The team of analysts at Future Business Insights are focussing on research and market study to produce different Global Bariatric Surgery Devices Industry forecasts and predictions at both national and international levels. They have considered several leads of information pertaining to the industry like market figures and merger estimations to assess and produce reliable and informative insights on the Global Bariatric Surgery Devices Industry.
What are the Main Factors Affecting the Market Development for Bariatric Surgery Devices?
The market for bariatric surgical devices is thought to be primarily driven by the increased prevalence of obesity situations. The market for bariatric surgery equipment is anticipated to increase as the obsess population becomes more aware of the issue. Other factors influencing the growth of the market for bariatric surgery equipment include the availability of surgeons trained in bariatric surgical methods. Due to the increased demand for bariatric procedures, both experienced and newly trained medical surgeons are honing and qualifying their surgical techniques. As a result, there is an increase in demand for bariatric surgery equipment. preventing dangers associated with obesity
Access to surgeons trained in bariatric surgical procedures
Due to the increased demand for bariatric procedures, both experienced and newly trained medical surgeons are honing and qualifying their surgical techniques. As a result, there is an increase in demand for bariatric surgery equipment.
Preventing dangers associated with obesity
Obese patients are at an increased risk of developing diabetes, hypertension, gastric reflux diseases, and blood pressure difficulties. The need for bariatric surgery equipment has greatly increased because the operations are meant to avoid the development of these disorders.
Less cutting techniques
Lower incisions are required for some bariatric procedures, such the small sleeve gastrectomy, which allows patients undergo the procedures without fear. Hospitals and weight-loss clinics use bariatric surgery equipment more as a result.
Key Players
Johnson & Johnson, Covidien Plc, Cousin Biotech, and Pare Surgical, Inc., among others are the some of the key companies in the Global Bariatric Surgery Devices Industry. Pharmaceutical and medical devices leaders such as Medtronic has launched flagship devices for sleeve gastrectomy, indicating the positive expansion of the global market. Government funding is also playing a major role in providing manufacturers with the capital required to produce enhanced devices for bariatric surgeries.
Segmentation
The global market for bariatric surgery devices can be segmented on the basis of the type of
- bariatric surgery
- device used
Based on the different kinds of bariatric surgery procedures, the market is classified into,
- Gastric Bypass Surgery
- Sleeve Gastrectomy Surgery
- Gastric Banding Surgery
- Others
By device-type, the Global Bariatric Surgery Devices Industry is further segmented into,
- Stapling Devices
- Gastric Bands
- Gastric Balloons
By Region
- North America
- Latin America
- Western Europe
- Eastern
- Asia Pacific
- Japan
- Middle East and Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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