With a rapid increase in the
population suffering from the problem of obesity, the number of bariatric
surgeries carried out on a global scale is also increasing continuously, and
this increase has further led to a rise in the market for bariatric surgical
devices. Bariatric surgery fights obesity by reducing the size of the stomach
or through the removal of a portion of the stomach (sleeve gastrectomy or
biliopancreatic diversion with a duodenal switch). The global market for
bariatric surgical devices is expected to grow at a healthy CAGR during the
period from 2013 to 2019 with maximum growth in the U.S. market.
The market for bariatric surgical
devices is driven by a shift of trends towards fast food, hectic work
schedules, and sedentary lifestyles with very less physical work, all leading
to obesity problems which leads to an increase in the number of surgeries and
results in the expansion of the bariatric surgical devices market. The rising
concern of people towards their health is also boosting the market.
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The market can be segmented on the
basis of the devices available into adjustable gastric bands, intragastric
balloons, implantable gastric simulators, surgical clamps, gastric surgery
clamps, clip appliers, Endo Stitch, surgical staples, and trocars. Segmenting
geographically, the U.S is the largest market for bariatric surgical devices
due to the large number of people suffering from obesity, followed by the
European Union, rest of Europe, and Latin America, in that order.
Bariatric surgery will see rapid
growth due to an increase in the number of obese people, leading to an increase
in bariatric surgery advertising, insurance coverage, surgical training, and
public awareness. The restraints that the industry faces are lack of knowledge
and information about bariatric surgery in developing nations, less disposable
income in these countries, and the high cost of the surgery. Some of the key
players in the market are Allergan, Inc. (US), Agency for Medical Innovations
(Austria), Cousin Biotech (France), Surgical IOC (France), PARE Surgical, Inc.
(US), and Silimed Ltd (Brazil).
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