Global Bariatric Surgery Market
Global Bariatric Surgery Market Overview:
The bariatric surgery market studied is expected to expand with a 5.6% CAGR during the forecast period 2019-2024.
The major factors attributable to the growth of the bariatric surgery market are increasing patients with obesity, rising prevalence rate of type-2 diabetes, and heart disease. Over 1.9 billion people, 18 and older, were overweight in 2016, according to the World Health Organization WHO, of which over 650 million were obese. This implies that about one-third of the global population is overweight, fuelled by urbanization, bad diets, and absence of physical activity. The United States has a big proportion of obese kids and young adults, around 13%. As the incidence of obesity increases globally, general bariatric surgery is anticipated to boost, which will directly drive the market for bariatric surgical instruments. Other variables, such as diabetes incidence, surgery insurance coverage, and public initiatives, drive the market.
Global Bariatric Surgery Market Scope of the Report:
Bariatric surgery or weight loss surgery is one of the significant treatment procedures for obesity treatment. It is usually the last choice for patients who failed to lose weight by several other means. During this operation, stomach size is decreased by either removing components of the stomach or using a gastric band.
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Global Bariatric Surgery Market Key Market Trends:
Closure Device is expected to grow with High CAGR in the Assisting Device Segment Closure systems are used for reconnecting tissue during surgical procedures and closing trocar incisions. The laparoscopic port closure device effectively and securely closes port sites in obese patients undergoing bariatric surgery and operations.
These instruments are anticipated to record elevated development as they are commonly used in minimally invasive surgeries requiring the instant closure of very tiny incisions during surgical procedures. And the amount of minimally invasive surgical processes is increasing each year, assisting market growth. For example, the United States has over two million laparoscopic cases performed annually. These activities are conducted with specific tools to be inserted through tiny incisions. Therefore, the growing amount of laparoscopic operations helps to increase closure device use.
North America Dominates the Market and is Expected to do Same in the Forecast Period:
North America will dominate the general market throughout the forecast period. This is due to the growing amount of obese people across the region, another driving factor is due to the regions availability of better healthcare infrastructure and rising awareness of bariatric surgery. In North America, the U.S. maintains the biggest market share.
Global Bariatric Surgery Market Competitive Landscape:
The bariatric surgery market is moderately competitive, with several key players. On market share, few significant players presently dominate the market. With raising patient consciousness and obese population, few other smaller players are anticipated to join the market in the coming years. Some significant market players include Medtronic plc, Ethicon Inc., Apollo Endosurgery Inc., Aspire Bariatrics Inc., and Intuitive Surgical Inc.
Reasons to Purchase Global Bariatric Surgery Market Report:
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