The global bariatric surgery devices market is projected to reach USD 2.16 billion by 2023 from an estimated value of USD 1.64 billion in 2018, at a CAGR of 5.7%

Thursday, May 31, 2018 Research News
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LONDON, May 31, 2018 /PRNewswire/ --

The bariatric surgery devices market is projected to grow at a CAGR of 5.7% during the forecast period.

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The global bariatric surgery devices market is projected to reach USD 2.16 billion by 2023 from an estimated value of

USD 1.64 billion
in 2018, at a CAGR of 5.7%. The key factors driving the growth of this market are affordable care and shorter waiting periods offered by bariatric surgery devices, growing investments in urgent care, increasing geriatric population, and strategic developments between urgent care providers and hospitals. On the other hand, the lack of a skilled workforce could be a challenging factor for this market.

The sleeve gastrectomy segment is projected to grow at the highest CAGR during the forecast period.Based on procedure, the bariatric surgery devices market is 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 grow at the highest CAGR during the forecast period.The high growth 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.Asia Pacific to witness the highest growth during the forecast period.Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2018–2023. Factors such as the growing adolescent and adult population, increasing number of bariatric surgeries, rapidly rising co-morbidities such as diabetes, and government initiatives to curb obesity are expected to drive market growth during the forecast period.Break of primary participants was as mentioned below:• By Company Type – Tier 1- 54%, Tier 2- 34%, Tier 3- 12%• By Designation – C-level–31%, Director Level–19%, Others–50%• By Region – North America–43%, Europe–23%, Asia Pacific–17%, Latin America- 10%, Middle East & Africa-7%Some of the major players in the bariatric surgery devices market include Ethicon (US), Medtronic (Ireland), Intuitive Surgical (US), Apollo Endosurgery (US), and ReShape Lifesciences (US).Research Coverage:The report analyzes the bariatric surgery devices market and aims at estimating the market size and the future growth potential of this market based on various segments such as type, procedure, and region. The report also includes an in-depth regulatory analysis for various regions across the globe and the competitive analysis of the key players in this market along with their company profiles, recent developments, and key strategies adopted by them to remain competitive in the market.Reasons to Buy the ReportThe report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use any one or a combination of the below-mentioned strategies.This report provides insights on the following pointers:• Market Penetration: Comprehensive information on the service portfolios offered by the top players in the global bariatric surgery devices market. The report analyzes the global bariatric surgery devices market by type, procedure, and region.• Product Enhancement/Innovation: Detailed insights on upcoming trends and new product launches in the global bariatric surgery devices market• Market Development: Comprehensive information on the lucrative emerging markets by type, procedure, and region• Market Diversification: Exhaustive information about new product, growing geographies, recent developments, and investments in the global bariatric surgery devices market• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and capabilities of bariatric surgery devices of leading players in the global market

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