Newark, May 14, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 2.5 Billion bariatric surgeries market will reach USD 6.79 Billion by 2033. Rising government initiatives towards cancer cases, increasing investments in R&D across countries, and technological advancements in the field of Bariatric Surgeries may fuel the growth of the Bariatric Surgeries Market. Governments across various countries have taken active measures to spread awareness about treating cancer. For instance, the Indian government has started raising about treating cancer cases not only over offline media (boards, hoardings, In-store advertisements, In-mall activations) but also over online channels (Social media channels, TV, radio, and others).
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Bariatric Surgeries Market Size by Devices (Assisting Devices, Implantable Devices, Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
North America emerged as the largest global Bariatric Surgeries market, accounting for 58% of the total market. Owing to an increasing number of obese people and increasing investments and government funding in the field of R&D. Asia Pacific exhibits the highest growth rate in the market owing to rapidly growing strategic initiatives by the private players in the region.
In 2023, the Assisting Devices segment emerged as the revenue leader, capturing a substantial 45% share
In 2023, the Assisting Devices segment emerged as the revenue leader, capturing a substantial 45% share. The segment is poised to witness the highest Compound Annual Growth Rate (CAGR) due to increased adoption and escalated research and development efforts by key market players focusing on enhancing assisting device technologies.
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Latest Development:
• In January 2022, Standard Bariatrics, Inc. reached a significant milestone as their Titan SGS surgical stapler technology achieved 1,000 successful clinical cases. The tailored anatomical approach of Titan SGS in bariatric surgery has proven effective, leading to enhanced results and more efficient procedures.
• In July 2021, the FDA granted de novo authorization to Apollo Endosurgery for the release of its Apollo ESG and Apollo REVISE endoscopic systems. These systems address the distinct needs of individuals with obesity by offering advanced minimally invasive solutions.
Market Dynamics
Drivers: Rapidly growing obese population in the global population
The surge in obesity rates is a primary driver of the expanding market share of bariatric surgeries. Obesity, a prevalent health issue globally, correlates with various medical conditions such as cardiovascular disease, type 2 diabetes, specific cancers, and musculoskeletal disorders. Bariatric surgery emerges as an effective treatment for certain individuals grappling with obesity, fueling substantial growth in the global bariatric surgeries market share.
Restraints: High cost of surgery in the market
The high expenses associated with bariatric surgery pose a challenge to market growth. Bariatric procedures are complex and demand a skilled surgical team along with specialized equipment. Furthermore, the comprehensive care regimen involving preoperative assessments, dietary guidance, and postoperative follow-ups adds to the overall cost burden.
Opportunities: Technological Advancements in Bariatric Surgery
Technological and surgical advancements have greatly improved the effectiveness, safety, and accessibility of weight loss procedures. Market leaders are launching innovative devices, foreseeing market growth. For instance, in May 2021, Standard Bariatrics, now part of Teleflex Corporation, introduced its cutting-edge Titan SGS stapling technology, tailored for bariatric sleeve surgery. FDA clearance was obtained for this technology, featuring the longest continuous staple cutline in the industry at 23 centimeters. These pioneering products drive market expansion, showcasing the significant role of technological and surgical advancements in fostering growth in the bariatric surgery sector.
Challenge: Lack of knowledge of Bariatric Surgeries in the market
The lack of awareness about bariatric surgery among potential beneficiaries hinders them from considering it as a viable solution for managing weight or addressing obesity-related health issues. This in turn poses a huge challenge to the Bariatric Surgeries Market.
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Some of the major players operating in the Bariatric surgery market are:
• Medtronic PLC
• Ethicon Inc. (Johnson and Johnson)
• Apollo Endosurgery Inc
• Aspire Bariatrics Inc
• Intuitive Surgical Inc
• B. Braun Melsungen AG
• Olympus Corporation
• The Cooper Companies
• Conmed Corporation
• Cousin Biotech
Key Segments cover in the market:
By Device:
• Assisting Devices
• Implantable Devices
• Others
About the report:
The global Bariatric Surgeries market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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