(MENAFN- GlobeNewsWire - Nasdaq) Rising obesity rates, growing health complications, and supportive government policies are the major factors which drive global market growth.Wilmington, Delaware, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, " Bariatric Surgery Devices Market by Device Type (Assisting Devices, Implantable Devices and Others), Procedure (Sleeve Gastrectomy, Gastric Bypass and Others), and End User (Hospitals and Others): Global Opportunity Analysis and industry Forecast, 2024-2033" . According to the report, the bariatric surgery devices market was valued at $1.7 billion in 2023, and is estimated to reach $3.2 billion by 2033, growing at a CAGR of 6.5% from 2024 to 2033.
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Prime determinants of growth
Gowing number of obese population and rise in complications related to obesity are the major factors that drive the growth of the market. However, high cost hinder the market growth. Moreover, technological advancements in bariatric surgery devices offer remunerative opportunities for the expansion of the global bariatric surgery devices market.
Report coverage & details
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $1.7 billion |
| Market Size in 2033 | $3.2 billion |
| CAGR | 6.6% |
| No. of Pages in Report | 216 |
| Segments Covered | Device Type, Procedure, End User and Region |
| Drivers | Rising Obesity Rates Growing Health Complications Supportive Government Policies |
| Opportunities | Continuous technological advancements |
| Restraints | |
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Segment Highlights
Assisting devices in bariatric surgery
Assisting devices in bariatric surgery, such as laparoscopic instruments, staplers, and sutures, are more commonly used compared to implantable devices like gastric bands. These assisting devices facilitate minimally invasive procedures, offering precision and efficiency. Their versatility across various surgical techniques and the trend towards less invasive interventions drive their higher usage over implantable options.
Predominant use of bariatric surgery devices in sleeve gastrectomy
Bariatric surgery devices are predominantly used in sleeve gastrectomy procedures due to the procedure's rising popularity. Sleeve gastrectomy, a minimally invasive technique, involves resecting a large portion of the stomach. Devices like staplers and laparoscopic instruments are crucial for ensuring precision, safety, and effectiveness, driving their extensive use in this surgery.
Hospitals are the prime users of bariatric surgery devices
Hospitals are the primary end users of bariatric surgery devices due to their comprehensive medical facilities and expertise. They provide the necessary infrastructure, skilled surgeons, and post-operative care required for bariatric procedures. The high patient volume and capability to handle complex cases make hospitals the leading centers for utilizing these advanced surgical devices.
Regional Outlook
The bariatric surgery devices market shows robust growth globally, with North America leading due to high obesity rates and advanced healthcare infrastructure. Europe follows with increasing adoption of minimally invasive surgeries. In Asia Pacific, rising healthcare expenditure and awareness are driving market expansion. Latin America and the Middle East & Africa regions are also witnessing gradual market growth.
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Key Players
Asensus Surgical Us, Inc.
The report provides a detailed analysis of these key players in the global bariatric surgery devices market. These players have adopted different strategies such as, product launch, expansion and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Developments in Bariatric Surgery Devices Market Worldwide
In February 2023, Teleflex Incorporated, announced it was awarded a group purchasing organization (GPO) agreement with Premier, Inc. for the Titan SGS powered stapling device, expanding access to this innovative technology for surgeons affiliated with Premier.
In September 2022, Olympus Corporation announced the launch of VISERA ELITE III, its newest surgical visualization platform that addresses the needs of healthcare professionals (HCPs) for endoscopic procedures across multiple medical disciplines.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences , Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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