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
18.104.22.168 Suturing Device
22.214.171.124 Closure Device
126.96.36.199 Stapling Device
188.8.131.52 Clip Appliers
7.1.2 Implantable Devices
184.108.40.206 Gastric Bands
220.127.116.11 Electrical Stimulation Devices
18.104.22.168 Gastric Balloons
22.214.171.124 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
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest Of Europe
220.127.116.11 Australia & New Zealand
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
7.3.4 Middle East & Africa
126.96.36.199 South Africa
188.8.131.52 Rest of the Middle East & Africa
7.3.5 South America
184.108.40.206 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