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Bariatric Surgery Devices Market is Projected to Rise at a Healthy 9.3% CAGR Till 2025, Says TMR
ALBANY, New York, May 14, 2019 /PRNewswire/ -- Emergence of rapid urbanization has led people to live a sedentary lifestyle, thus leading to weight gain. This trend is expected to promote the global bariatric surgery devices market. The market is projected to grow at an impressive rate of CAGR 9.3% during 2017 to 2025. The global bariatric surgery devices market was estimated worth US$0.79 bn in 2016 and is expected to rise up to US$1.74 bn by the end of 2025.
On the basis of geography, the global bariatric surgery devices market device is dominated by North America in the US region. Rising sedentary lifestyle and increased consumption of junk food has been driving the market. However, Asia Pacific is also expected to dominate the global bariatric surgery devices market. Especially, developing countries like India and China face fast paced lifestyle with increasing demand for convenience food and sedentary lifestyle which leads to diseases like obesity.
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The global bariatric surgery devices market is segmented into assisting and implanting devices. Assisting devices are further segmented into suturing devices, stapling devices, closure devices, trocars, and others. However, during the forecast period, the closure devices are projected to register a substantial growth because they aid in minimally invasive surgeries.
Rising Obesity Cases to Bolster the Demand for Bariatric Surgery Devices Market
The global bariatric surgery devices market is expected to witness an impressive growth during the forecast period. The growth is likely to be attributed by rising number of obese population across the world. Obesity is caused by factors such as an erratic lifestyle, consumption of processed and packaged food. Thus, creating demand for bariatric surgeries devices in the global market. Additionally, excessive intake of more than required calories per day, either knowingly or unknowingly is likely to strengthen the global bariatric surgery devices market.
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Alternatively, government initiatives and awareness programs about healthy and unhealthy eating habits is projected to promote the expansion of the global bariatric surgery devices market. Demand for minimally invasive procedures and medical reimbursement policies have further pushed the global bariatric surgery device to a stellar growth during the forecast period.
High Cost to Restrict Curtail Growth of Bariatric Surgery Devices Market
The costs associated to bariatric surgery is high and not affordable for all those who suffer from obesity. This may hinder the growth of the global bariatric surgery devices market. Although, it is within the reach of people with large amount of disposable income, lack of awareness of the benefits of bariatric surgery may restrain the growth of the global bariatric surgery devices market.
Nonetheless, the global bariatric surgery devices market is still expected to witness growth opportunities due to growing technological innovation in medical industry and study in the cognitive areas.
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The global bariatric surgery devices market is fragmented and the competition is stiff among the leading players, states Transparency Market Research (TMR). These prominent players in the global bariatric surgery devices market are focusing on investing in research and development. They are concentrating on bringing in the latest technology and innovative products to capture the market. Simultaneously, small scale players in the industry are eyeing on mergers and acquisition to widen their presence in the market. Some of the prominent players in the global bariatric surgery devices market are Cousin Biotech, Entero Medics Inc., TransEnterix Inc., Aspire Bariatrics Inc., and Medtronics Plc.
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This review is based upon the TMR report titled, "Bariatric Surgery Devices Market (Device - (Assisting Devices (Suturing Device, Closure Device, stapling Device, Trocars), Implantable Devices ( Gastric Bands, electrical Stimulation Devices, Gastric Balloons, Gastric Emptying); End-user -Bariatric Surgery Clinics, Hospital Pharmacies, Ambulatory Surgical Centers)) -Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025."
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