Bariatric Devices Market is anticipated to hit $2.9 billion by 2023 at a CAGR of 9.5%

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According to the new market research report by IndustryARC titled “Bariatric devices Market: By Type (Invasive, Non-Invasive); By Procedure (Restriction, Combined, Malabsorptive) By Cause (Hereditary, Disorder, Others), By Device (Gastric Banding, Gastric Bypass, Sleeve Gastrectomy & Laparoscopic Grasper); and By Geography – Forecast – (2017-2023)”, the market is driven by the rise in obesity, increase in the number of reimbursement policies, etc.

Americas held the largest market share in the Bariatric Devices Market

The American region holds the largest market share and growth in the Bariatric devices Market and is anticipated to reach $1.9 billion by 2023 at a CAGR of 8.2%. However, APAC witnessed the highest growth rate during the forecast period and is expected to reach $0.3 billion by 2023. Increasing nutritional deficiencies due to excess food intake and consumption of high-calorie food are greater in the Americas than in other regions. These irregular food habits contribute much to the increasing bariatric patients in North America and are thus, leading the increased demand for bariatric procedures as well. According to the National Institute of Health, about $75-135 billion is spent directly or indirectly on costs related to obesity and bariatric surgeries.

Selected Product/Market Life Cycle Analysis done in the full report

• The Bariatric treatments and devices are fabricated using various raw materials ranging from resins to plastics. The lifecycle of a bariatric device comprises of the entire lifespan of a device into account, from the time it is manufactured and assembled to the end of its utility, leading to disposal or recycling. Processing and recycling medical devices have always been an important part of a product lifecycle. But this can be seen more prevalently in developing nations due to weaker economic situations. With respect to bariatric devices, the lifecycle of the equipment lasts as long as the durability of the material. Many of the instruments are reusable and a single instrument can be used for various surgeries.

• Vanguard medical concepts Inc. announces the recycling program for trocars used in bariatric surgery. The company aims at reducing medical waste and increase medical cost savings by reusing and recycling programs. According to Vanguard, about 12,000 trocars and 15,000 DVT (deep-vein thrombosis) have been recycled. The life cycle of a bariatric device, particularly custom-made devices, are largely dependent on the type of product and extent of use by a patient. The bariatric devices are composed of metals such as stainless steel, aluminum, etc. and plastic components which are completely recyclable. The general Purchasing Organization at Mercy Medical Center in Baltimore realized that 12,800 oximeter probes and 3,200 trocars and sleeves undergo degradation every year. In order to save money and reduce medical waste, the center takes an opportunity to make contracts with reprocessing companies.

• The usage materials are separated by breaking down the bariatric devices and then recycled to produce other products. Sometimes, a whole part or component is recycled by fitting it into another new bariatric device. Mostly, recycled components of bariatric devices are trocars, staples, needles, sleeves etc. These are fitted to new parts to produce a new device which is cheaper in cost and hence, affordable. Such bariatric devices are then provided to patients in third world countries and regions, ravaged by war and natural calamities.

Excerpts on Market Growth Factors

• Increase in the worldwide predominance of obesity with a low attainment rate of physical activities and eating methodology in checking obesity is among the most noteworthy growth driver of the bariatric market.

• Bariatric devises Market is also driven by the involvement of new technologies that include less invasive processes and concomitant technology.

• As the market is a growing segment, manufacturers have taken the advancement in manufacturing bariatric products using core products. Thus, suppliers are getting more involved in providing specialized and engineered products into the market with respect to demand. Hence, the power of suppliers is very high in this market.

• The market growth is dependent on the number of patients in a geographic region and their increase every year. Essentially, all the companies are vying for the same limited market and hence, product differentiation, branding, advertising, pricing are very crucial factors for market share growth or retention.

• In India and China, the penetration rate for miniaturized devices is high, with a vast scope for the growth of invasive bariatric surgeries. Recently, the introduction of Lap-band, the most effective and sophisticated technology by Allergan, helped the developing nations to experience a surge in their revenues.   

• US market for bariatric devices holds the largest share in North America. The market is expected to grow for the next six years due to the increased use of laparoscopically adjustable banding systems and also rise in the number of emerging technologies. Intragastric balloons, transoral devices, stimulators, vagal blocking systems are few upcoming technologies that drive the growth of the bariatric device market.

• According to research expert analysis, the market is expected to see advancements in technology and awareness towards obesity-related commodities. These factors are considered as the key drivers for the growth of the market.

• In the coming years, the bariatric devices produced will be more compact, handheld and lightweight, which will further propel the adoption of various devices for surgeries such as gastric band surgery, bypass, Bariatric Sleeve Surgery and non-invasive surgery among others.

• The market will be mainly dependent on a rise in obesity rates and its consequence disorders.

• The market is expected to benefit from the growing use of single-incision surgery; minimally invasive robotic surgery is also expected to continue to significantly improve bariatric surgical outcomes.

• Sleeve gastrectomy is expected to grow at high rates since it is less invasive than other procedures and doesn’t possess the risk of dumping syndrome.

• The growth rate for Malabsorptive procedures is high due to the increasing demand and effective results achieved by surgeries like Biliopancreatic Diversion with duodenal switch (BPD/DS) and most famous gastric bypass procedure, extended Distal Roux-en-Y Gastric Bypass (RYGBP-E).

• Rising disposable income in developing countries like China and India resulted in the increase in Sales for passenger vehicles, thereby further boosting the growth of the market.

• The rapid adoption of bariatric surgeries in European countries is the major growth factor.

• Vessel sealing devices are expected to have high growth in the near future

To access the full report browse the link below

https://industryarc.com/Report/162/bariatric-devices-companies-market.html?

Key players of Bariatric Devices Market:

• Covidien, Olympus and Ethicon are the key players which lead the market for laparoscopic devices in Europe. According to IndustryARC, Allergan, Covidien, Ethicon accounts for more than 50% of the market. Other players include C.R. Bard, Slimed, Spatz Surgicals, Metacure, USGI medical, Re-shape Medical, GI Dynamics, and Cousin Biotech, etc.

What can you expect from the report?

The Bariatric Devices Market Report is Prepared with the Main Agenda to Cover the following 20 points:

1. Market Size by Product Categories

2. Market trends

3. Manufacturer Landscape

4. Distributor Landscape

5. Pricing Analysis

6. Top 10 End-user Analysis

7. Product Benchmarking

8. Product Developments

9. Mergers & Acquisition Analysis

10. Patent Analysis

11. Demand Analysis (By Revenue & Volume)

12. Country-level Analysis (15+)

13. Competitor Analysis

14. Market Shares Analysis

15. Value Chain Analysis

16. Supply Chain Analysis

17. Strategic Analysis

18. Current & Future Market Landscape Analysis

19. Opportunity Analysis

20. Revenue and Volume Analysis

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About IndustryARC:

IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences &Healthcare.

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