The Bariatric Surgery Devices market was valued at US$ 12.3 billion in 2020 and is expected to hit around US$ 12.8 billion by 2030 with a CAGR of 20.15% during forecast period 2021 to 2030.
The Bariatric Surgery Devices market was valued at US$ 12.3 billion in 2020 and is expected to hit around US$ 12.8 billion by 2030 with a CAGR of 20.15% during forecast period 2021 to 2030.
Growth Factors
The growing incidence rate of obesity has led to many government initiatives at regional as well as global level to increase awareness related to obesity and undertake various incidence curbing action plans. For instance, the South Wales government launched the NSW Healthy Eating and Active Living Strategy 2013-2018 for preventing obesity.
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In addition, to strategic planning, the governments of developed nations are also funding universities to design strategic interventions to control rising obesity. For the year 2014, New Zealand invested USD 40 million for its Healthy Families NZ anti-obesity initiative. Moreover, industry players are also trying to tackle the rising problem of obesity by launching new products. In February 2017, a startup company, Allurion Technologies, located in Massachusetts, U.S. filed a regulatory filing to report the USD 19 million raised amount out of the target of USD 27 million. The funds were intended to use for the development of non-endoscopic gastric balloon, Ellipse. This device is in the form of a capsule which when swallowed, is inflated in the stomach and deflates after months and is passed out without the need for anesthesia for its removal. This device is anticipated to revolutionize the bariatric surgery devices market due to its ease of use over the forecast period
The demand for non-invasive surgeries is also increasing, as non-invasive surgeries save time, cost, and decrease hospital stay. Governments are also encouraging the use of more incisionless surgeries in order to decrease the cases of infection. For instance, in July 2015, the FDA approved a balloon device, where the balloon is directly swallowed using a sterile solution.
Report Highlights
Roux-en-Y Gastric Bypass (RYGB) dominated the bariatric surgery devices market in 2014. Gastric bypass surgeries were performed through open surgery causing large incisions on the belly. Hence, the introduction of laparoscopic bypass surgeries overtook the conventional methods and was performed with small minimal incisions.
Over the past decade, the growing acceptance for laparoscopic surgery has also surged the popularity of this minimally invasive technique for this surgery. Laparoscopic surgery offers more convenience to patients with minimal incision. This surgery makes the stomach a small pouch and allows minimal food to pass into the small intestine. Bypassing the small intestine leads to lesser nutrient and fat absorption and thus helping in weight loss.
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Though gastric bypass surgeries dominate the bariatric surgery devices market, it is expected that sleeve gastrectomy will be the fastest-growing market during the forecast period, as it has been recently approved by the FDA and is an incision-less surgery. This procedure has witnessed various developments in recent years. According to the American Society for Metabolic and Bariatric Surgery (ASMBS), out of 179,000 surgeries performed, sleeve gastrectomy accounted for the major share (42.1%) followed by gastric bypass. In June 2012, the Centers for Medicare and Medicaid Services (CMS) released the CMS Laparoscopic Sleeve Gastrectomy National Care Determination under which it provided coverage for laparoscopic sleeve gastrectomy (LSG).
The North America bariatric surgery devices market was the largest in 2014, owing to high obesity rates along with huge government-supported funding and research activities are undertaken by the industry players to evaluate the efficiency of their surgeries to treat obesity. For instance, bariatric surgeries, which were insured by Medicare only for population having BMI 40 and above was revised and decreased to 30 and above. This change benefited a large population who were obese and could not afford the huge surgery, surgeons, and hospital costs. In addition, North America has the highest population with obesity incidences. In 2016, the costs related to obesity ranged from USD 147 billion to USD 210 billion per year.
In addition to government efforts to control obesity, industry players are investing in research to link obesity with various chronic complications. In June 2015, Ethicon, a subsidiary of Johnson and Johnson invested over USD 3.2 million to study the effects of bariatric surgery on Type 2 diabetes and obesity. Moreover, the company also launched three new endocutter and energy products to assist in bariatric surgery procedures. Another industry player, Scitech launched a complete line for endosurgery in the 18th Brazilian Congress of Bariatric and Metabolic Surgery in October 2017.
Obesity in Europe is increasing at an alarming rate with Ireland topping the chart. The report submitted by the WHO on European Modelling Obesity Project stated the various interventions and healthcare cost burden related to obesity, if not addressed. Hence, the government is funding various academic institutes to come up with innovative strategies. In August 2015, the National Cancer Institute (NCI) was awarded a grant of USD 750,000 to the University of Kentucky to study the link between breast cancer and obesity.
Key Players
Allergan Inc., Covidien Plc, Johnson and Johnson, Intuitive Surgical Inc., GI Dynamics Inc., TransEnterix Inc., USGI Medical Inc., Semiled Ltd., Cousin Biotech, and Mediflex Surgical Procedures.
Market Segmentation
- Procedure Outlook
- Adjustable Gastric Band (AGB)
- Vertical Sleeve Gastrectomy (VSG)
- Roux-en-Y Gastric Bypass (RYGB)
- Biliopancreatic Diversion with a Duodenal Switch (BPD-DS)
- Others
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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