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Bariatric Surgery Devices Market worth over $2.1bn by 2027

  • Published Date: December 14, 2021

Bariatric Surgery Devices Market size is set to surpass USD 2.1 billion by 2027, according to a new research report by Global Market Insights Inc.
 

The bariatric surgery devices market growth is attributed to novel product launches, advancement in medical devices as well as rising demand for obesity management surgeries. Since the advent of laparoscopic surgery, there has been a significant increase in the volume of bariatric surgical procedures. However, bariatric surgical products and procedures are still evolving and numerous products with a plethora of variations provide a choice to treat morbid obesity. The launch of new medical products offers a competitive edge in the market expanding the revenue stream of the company. Moreover, support guidelines and recommendations to create awareness surrounding bariatric surgery is anticipated to further spur the market expansion of bariatric surgery devices.
 

Increasing preference for bariatric tourism will boost the market progression

Global bariatric tourism is gaining significant traction due to the high cost of bariatric surgery by the private sector in developed countries, long waiting lists, global recognition, lack of insurance coverage, and lack of bariatric healthcare. Around 2% of the global bariatric procedures are provided to medical tourists. Also, countries such as Mexico, Romania, Turkey, and Lebanon witness significant demand as service providers for patients largely from the USA, UK, and Germany.
 

In the bariatric surgery medical tourism market, Mexico is also noted to register significant growth credited to the large influx of patients from the U.S. With limited or no insurance coverage for bariatric surgeries in the U.S. and increased out-of-pocket expenditure exceeding USD 20,000 per patient, the demand for bariatric medical tourism is also noted to increase.
 

Financial and ethical problems associated with bariatric surgery devices can limit the market demand

As medical insurances do not provide a full cover for bariatric surgeries, several patients opt for medical tourism to overcome the financial burden. However, owing to difficulty in regular follow-up by returning to the country, the growth of bariatric surgery devices market is restricted. Every country has its guidelines for the bariatric procedure which sometimes does not meet the standards set by U.S. Food and Drug Administration (FDA) and thus creates a complicated ethical drawback. Every surgeon has a unique way of performing a procedure and uses different stapling devices, suture material, hernia mesh and others. When any medical complication arises, it is difficult to handle the post-operation issue.
 

Growing awareness surrounding non-invasive surgery will foster the segment growth

The non-invasive surgical devices segment in the bariatric surgery devices market is expected to witness 5% growth rate through 2027 led by the growing awareness and consideration across the globe. The majority of the medical treatment for obesity-associated diet, eating behavior modifications, physical exercise, or drugs are sometimes ineffective in most cases for patients. Furthermore, according to various surveys due to obesity-related several comorbidities put individuals at higher risk. Also, product launch by major market players like bariatric surgery devices and other instruments to stimulate the industry demand.
 

Browse key industry insights spread across 180 pages with 163 market data tables & 13 figures & charts from the report,Bariatric Surgery Devices Market Size By Product (Minimally Invasive Surgical Devices {Stapling Devices, Energy/Vessel-Sealing Devices, Suturing Devices}, Non-Invasive Surgical Devices), By Procedure (Sleeve Gastrectomy, Gastric Bypass, Revision Bariatric Surgery, Non-Invasive Bariatric Surgery, Adjustable Gastric Banding, Mini-Gastric Bypass), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/bariatric-surgery-devices-market


Increasing prevalence of diabetes will surge the demand of bariatric surgery device

The gastric bypass segment is estimated to attain a CAGR of 4.8% till 2027. The increasing prevalence of diabetes across the globe will positively influence the bariatric surgery devices growth. As per International Diabetes Federation (IDF) statistics, more than 463 million people are living with diabetes. Bariatric surgery enables better management of diabetes and other diseases, therefore high preference by the patients. Additionally, the growing success rate of bariatric surgery is poised to be the influential factor.
 

Growing number of specialized facilities in Europe will accelerate the market value

Europe bariatric surgery devices market crossed USD 451.4 million in 2020 impelled by the increasing number of specialized facilities across Europe and rising healthcare spending. Moreover, improving the quality of services ensures precise disease management that surges preference for bariatric surgery devices. Furthermore, Europe is amongst the highly developed regions that invests highly in the healthcare sector.
 

Companies undertake inorganic growth strategies to strengthen their business portfolio and revenue

The eminent players operating in the market include Intuitive Surgical, Integra Life Sciences, B. Braun, Apollo Endosurgery, CONMED, Medtronic, Ethicon, Olympus, Reshape Lifesciences, and W. L. Gore & Associates. These companies focus on strategies such as innovative expansion, product development & launches, mergers & acquisitions and collaboration to garner more revenue and sustain market competition.
 

Authors: Sumant Ugalmugle, Rupali Swain