Bariatric Surgery Devices Market Analysis
Bariatric Surgery Devices Market - Global Industry Insights, Outlook and Opportunity Analysis, 2018-2026
Bariatric surgery, also known as weight loss surgery, is a class of bariatrics, which refers to a minimally-invasive surgical procedure performed on people suffering from obesity. Bariatric surgery aims to reduce the weight of an individual with the help of a surgery that reduces the size of stomach by removing a portion of tissues or fats of the stomach. The National Institutes of Health in the U.S. suggests a person to undergo bariatric surgery depending on the BMI of the individual. Bariatric surgery is recommended to individuals with a minimum BMI of 40 whereas, people with specific serious coexisting medical conditions such as diabetes can also undergo bariatric surgery with a BMI of 35.
According to the World Health Organization, the facts state that worldwide obesity has tripled since 1975. The key facts suggest that in 2016, over 1.9 billion adults were reported to be overweight, out of which 650 million were reported obese. This trend was observed to persist even in children under the age group of 5 years, wherein 40 million children were found to be overweight in 2018. This has predominantly increased the rates at which people are undergoing bariatric surgery, thereby driving the bariatric surgery devices market growth. In addition to this, precaution and preventive measures undertaken by people has resulted in rise of overall expenditure on weight loss, which in turn promotes the global sales of bariatric surgery devices. Moreover, the initiatives taken by regional governments regarding weight assessment and obesity related issues are also positively influencing the bariatric surgery devices market growth.
Global Bariatric Surgery Devices Market – Dynamics
Factors such as high obesity rates is expected to fuel growth of the bariatric surgery devices market. According to the World Health Organization, in 2016, 39.0% of adults aged 18 years and over were overweight and around 13.0% of the world’s adult population were obese. The report also states that in 2016, over 340 million children and adolescents aged 5-19 were overweight or obese.
According to the Centers for Disease Control and Prevention (CDC), during 2017-2018, the global prevalence of obesity was 42.4%, which increased from 30.5% during 1999-2000. It also states that the global prevalence of severe obesity increased from 4.7% during 1999-2000 to 9.2% during 2017-2018.
Global Bariatric Surgery Devices Market – Regional Insights
North America accounted for the largest market share in the global bariatric surgery devices market, owing to increasing cases of obesity in the region. According to the Centers for Disease Control and Prevention (CDC), in 2015-2016, the prevalence of obesity was 39.8% in adults and 18.5% in youth. According to the Journal of the American Medical Association, the study published in 2018 states that around 40.0% of all adults i.e. 93.3 million people over the age of 20 in the U.S. were obese in 2018.
Asia Pacific is expected to witness significant growth rate over the forecast period, owing to the rising patient pool of obesity. According to the World Health Organization, in 2018, almost half of the children under 5 who were overweight or obese lived in Asia. According to the Asian Development Bank Institute, the article published in 2017 states that around 1 billion people in Asia Pacific were overweight or obese.
Global Bariatric Surgery Devices Market: Competitive Landscape
Key players operating in the global bariatric surgery devices market include Allergan Inc., Cousin Biotech, Covidien PLC, Endogastric Solutions Inc., EntroMedics Inc, GI Dynamics Inc, Intuitive Surgical Inc., Johnson and Johnson, Olympus, Pare Surgical, ReShape Medical, Inc., Spatz FGIA Inc., Transenterix, Inc. Allergen, Covidien, Ethicon, Olympus, and Medtronic Inc.
Global Bariatric Surgery Devices Market: Taxonomy
On the basis of devices, the global bariatric surgery devices market is segmented into:
On the basis of surgery, the global bariatric surgery devices market is segmented into:
On the basis of region, the global bariatric surgery devices market is segmented into: