The global sales of gastric bands are projected to reach USD 169.2 million in 2024, with an expected growth trajectory leading to a valuation of USD 243.4 million by 2034. This growth represents a compound annual growth rate (CAGR) of 4.2% during the forecast period. In 2023, the revenue generated by gastric bands was USD 162.4 million.
The rising prevalence of obesity worldwide, along with growing awareness of its associated health risks, is significantly driving the demand for gastric bands as a viable treatment option. Gastric banding is a popular minimally invasive surgical procedure that helps individuals achieve significant weight loss by restricting food intake. As the incidence of obesity-related conditions such as diabetes, hypertension, and cardiovascular diseases continues to rise, more patients are seeking surgical interventions to manage their weight effectively.
Technological advancements in gastric banding procedures, including improved designs and materials that enhance safety and effectiveness, are expected to further stimulate market growth. Additionally, increasing healthcare investments and the expansion of healthcare facilities specializing in bariatric surgery are likely to make gastric banding more accessible to a broader population.
Moreover, rising initiatives by healthcare professionals to educate patients about the benefits of surgical weight loss options, including gastric bands, are anticipated to drive increased adoption rates. As patients become more informed about the potential health benefits associated with weight loss, the demand for effective solutions like gastric bands is expected to grow.
A gastric band is a ring surgically implanted around the upper part of the stomach to form a small pouch in weight loss surgery. The band creates a small stomach pouch above it, limiting how much food one can take and delaying digestion, whereby individuals feel fuller faster and longer. Adjustments to the band are possible by injecting or removing saline through a port placed under the skin, allowing customization according to the needs and progress of the patient.
Gastric bands are a part of a whole class of bariatric surgeries and, as a rule, are indicated for people with severe obesity who have failed other means of weight loss. It is aimed at offering substantial weight loss and an improvement in general health, but it does call for commitment to life changes and follow-up care.
The rising awareness of bariatric surgery, specifically gastric banding, has resulted in its phenomenal demand worldwide. While the rates of obesity have significantly risen, healthcare organizations, governments, and other empowered advocacy groups are currently raising public awareness about treatment options available to them.
This includes addressing the health risks associated with obesity while emphasizing bariatric surgery as a valid means for ensuring long-term weight loss. This information then gets disseminated through social media and digital health forums, making it far more accessible, highly disseminated.
In addition, physicians provide more information regarding the operation through various resources, webinars, and consultations about the bariatric surgery, like gastric banding, to enable patients to make an informed decision.
Media also plays an important role in presenting real-life success stories of gastric band surgery, which would surely help reduce the stigma associated with it and increase the number of people availing themselves of surgical solutions for their obesity. These educational activities have increased awareness among patients about safety, benefits, and outcome, thus increasing demand for the intervention.
Competitive Landscape
The gastric bands industry faces a high competition, as there are large number of gastric bands manufacturers. These manufacturers are focused on constantly innovating and improving their product portfolio.
Prominent producers of gastric bands are concentrating on growing internationally in order to increase their revenue and increase the size of their sales footprint in developing nations through the acquisition of regional small players.
Manufacturers utilize various key strategies such as agreements, product launches, research sponsorship, and strategic collaborations to boost product sales and establish their market presence. Moreover, the major player are also focused on innovation and getting regulatory approval, which gives them a competitive edge.
Recent Industry Developments in Gastric Bands Market
- In Feburary 2024, Spatz Medical, a global medical devices company, announced that they have launched a new Spatz3 Adjustable Gastric Balloon.
- Bariatric Solutions GmbH, a German medical device company, offer products such as MiniMIZER Gastric RING, A.M.I. Soft Gastric Band System, MiniMIZER Adjustable Gastric BAND and others.
- Cousin Biotech, a medical devices company, offer products such as Bioring Adjustable gastric band and others.
Key Players of Gastric Bands Industry
- Medtronic
- Intuitive Surgical, Inc.
- Cousin Biotech
- Johnson & Johnson Services Inc.
- Olympus Corporation
- ALLERGAN Source
- TransEnterix Surgical
- Helioscopie Ethicon USA LLC
- Apollo Endosurgery Inc.
- Murfreesboro Surgical Specialists
- PLLC Inc
- A.M.I. GmbH
- Bariatric Partners Inc.
- Obtech Medical AG
- Bariatric Solutions GmbH
A Full Report Analysis
Key Segments of Gastric Bands Industry
By Product:
In terms of product, the industry is divided into external gastric bands and implantable gastric bands.
By Application:
In terms of Application, the industry is segregated into urinary & fecal incontinence, irritable bowel syndrome (IBS), chronic anal fissure and others
By End User:
In terms of end user, the industry is divided into hospitals and clinics, ambulatory surgical centers and others
By Region:
Key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe and Middle East and Africa (MEA) have been covered in the report.
Author By:
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)
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