Increase in Obese Population
According to World Health Organisation (WHO), in 2016, more than 1.9 billion adults, 18 years and older, were overweight; of these over 650 million were obese. This means that about one-third of the overall global population is overweight; this is fueled by urbanization, poor diets, and lack of physical activity. Among all the countries, the United States has the large percentage of obese children and young adults, around 13%. As the prevalence of obesity is increasing worldwide, the overall bariatric surgeries are expected to increase, which will directly propel the bariatric surgery devices market. The other factors, such as the prevalence of diabetes, insurance coverage for the surgeries, and government initiatives, are driving the market.
High Cost of Surgery
The high cost of the surgery is due to pre- and post-surgery fees. Cost depends on the surgery type, which may range between USD 15,000-35,000. The most expensive among the surgeries is the duodenal switch surgery, which costs about USD 27,000. The gastric sleeve surgery, which is highly recommended, costs about USD 19,000. Insurance companies cover only a portion of these expenses. The huge cost associated with the surgeries will restrain the growth of the market. Along with these, other factors, such as lack of awareness in developing countries and lower disposable incomes in developing countries, are hindering the growth of the market for bariatric surgery devices.
North America to Dominate the Market
North America dominates the market for bariatric surgery devices as the people in the region have higher disposable incomes when compared to other regions, especially as these bariatric surgery procedures are expensive. In terms of revenue, the European bariatric surgery market follows that of North America.
Key Developments in the Market
- November 2017: Apollo Endosurgery received FDA Clearance for OverStitch Sx Endoscopic Suturing System.
- August 2017: As per FDA, five deaths were reported while using weight loss balloon treatment.
Reasons to Purchase the Report
- Current and future bariatric surgery devices market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Increase in Obese Population
6.1.2 Prevalence of Diabetes and Heart Diseases
6.1.3 Government Initiatives to Curb Obesity
6.1.4 Insurance Coverage of the Surgeries
6.2 Market Restraints
6.2.1 Lack of Knowledge and Awareness in Developing and Underdeveloped Countries
6.2.2 High Cost of surgery
6.2.3 Lower Disposable Incomes in Developing and Underdeveloped Nations
6.4 Key Challenges
7. Market Segmentation
7.1 By Device
7.1.1 Assisting Devices
220.127.116.11 Suturing Device
18.104.22.168 Closure Device
22.214.171.124 Stapling Device
126.96.36.199 Clip Appliers
7.1.2 Implantable Devices
188.8.131.52 Gastric Bands
184.108.40.206 Electrical Stimulation Devices
220.127.116.11 Gastric Balloons
18.104.22.168 Gastric Emptying
7.2 By End User
7.2.1 Bariatric Surgery Clinics
7.2.3 Ambulatory Surgical Centers
7.3 By Geography
7.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest Of Europe
184.108.40.206 Australia & New Zealand
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
7.3.4 Middle East & Africa
22.214.171.124 South Africa
126.96.36.199 Rest of the Middle East & Africa
7.3.5 South America
188.8.131.52 Rest of South America
8. Competitive Landscape
8.1 Mergers & Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Key Players
9.1 Apollo Endosurgery Inc.
9.2 Ethicon Inc.
9.3 TransEnterix Inc.
9.4 Allergan, Inc.
9.5 ReShape Medical, Inc.
9.6 Covidien Plc
9.7 EnteroMedics, Inc.
9.8 Aspire Bariatrics Inc.
9.9 List Not Exhaustive
10. Future of the Market