New York, United States , May 17, 2023 (GLOBE NEWSWIRE) -- The Global Bariatric Surgery Devices Market Size to Grow from USD 2.5 Billion in 2021 to USD 3.67 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period.
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In basic terms, bariatric surgery is a type of gastrointestinal weight loss procedure. Gastric banding, gastric bypass, stomach shortening, and stomach stapling are a few of its operations. These techniques are used to address comorbid diseases that are linked to morbid obesity. By limiting the amount of food that can be absorbed by the stomach and the amount of nutrients that can be absorbed by the intestinal system, bariatric surgery devices assist in changing the gastrointestinal tract. For some who have severe obesity and some who are experiencing complications related to obesity, bariatric surgery is a perfectly safe and successful technique.
Modern robotic technologies, which are enhancing operational efficiency, as well as the rising prevalence of adult obesity, are the key factors driving the global market for bariatric surgery devices. NICE, the National Institute for Health and Care Excellence, advised people with diabetes mellitus to consider bariatric surgery before changing their lifestyles or taking medication. These advancements are projected to speed up industry progress in the following years. Expanding reimbursement coverage and sponsored bariatric treatments by regional governments of industrialised countries are other factors predicted to contribute to market expansion.
Key market limitations include post-operative complications include small bowel obstruction, gastric band slippage, internal bleeding, hernia, and gastrointestinal ulcers. In addition, it is projected that the high price of surgical gadgets and the rigorous regulatory environments in developed nations will restrain market expansion.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Bariatric Surgery Devices Market Size, Share, and COVID-19 Impact Analysis, By Type (Stapling Devices, Energy/Vessel Sealing Devices), By Procedure (Sleeve Gastrectomy, Gastric Bypass), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030)." Get Detailed Report Description Here:
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Type Insights
The Minimally Invasive Surgical Devices segment registers the highest CAGR over the forecast period
On the basis of type, the global bariatric surgical devices market is segmented into minimally invasive surgical devices, stapling devices, energy/ vessel sealing devices, suturing devices, accessories, non-invasive surgical devices. Among these, the minimally invasive surgical devices segment registers the highest CAGR over the forecast period. The rise in obesity cases around the world, the desire for little pain and discomfort, and the requirement for fewer scars and incisions are all factors contributing to the market's segmental expansion.
Procedure Insights
The Sleeve Gastrectomy segment holds the largest market share over the forecast period
Based on the procedure, the global bariatric surgical devices market is segmented into sleeve gastrectomy, gastric bypass, revision bariatric surgery, non-invasive bariatric surgery, adjustable gastric banding, mini gastric bypass, biliopancreatic diversion with duodenal switch. Due to the incision-free procedure that the FDA recently approved, the sleeve gastrectomy category will hold the biggest market share over the projected period. Since the past few years, various advancements in incisionless surgery have been made.
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Regional Insights
North America is dominating the market with the largest market share over the forecast period
Due to the rising demand for bariatric procedures and the substantial presence of the major market players, North America is dominating the market with the largest market share over the anticipated period. For instance, Medicare's coverage of bariatric procedures for those with BMIs of 40 or above was changed to cover those with 30 or more. Many people who were fat and unable to pay the high expense of surgeons, operations, and hospital costs have benefited greatly from this transformation.
On the other hand, Asia Pacific is expected to experience the fastest market growth during the projected period due to rising rates of obesity and a rise in medical tourism as a result of less expensive surgery. Various research facilities have been set up by numerous industry players in India to study the factors related to obesity. For instance, to examine the causes of obesity in India, Covidien has opened a new research facility in Hyderabad.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Bariatric Surgical Devices Market include Asenus Surgical US, Inc., B Braun Melsungen AG, Cousin Surgery, Johnson & Johnson, Olympus Corporation, Richard Wolf GmbH, SPATZ FIGA, Inc., Teleflex Incorporated, and USGI Medical, Inc.
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