(PharmaNewsWire.Com, May 26, 2020 ) According to a new market research report "Bariatric Surgery Devices Market by Type (Minimally Invasive (Stapling, Suturing), Non-Invasive), Procedure (Sleeve Gastrectomy, Gastric Bypass, Revision Surgery, Adjustable Gastric Banding, Mini Gastric Bypass) - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to reach USD 2.16 Billion by 2023 from an estimated USD 1.64 Billion in 2018, at a CAGR of 5.7%.
The key factors driving the growth of Bariatric Surgery Devices Market are the growing obese population, increasing number of bariatric surgery, and increasing preference for minimally invasive procedures.
By type, the minimally invasive surgical devices are expected to account for the largest share of the market in 2018
On the basis of type, the Bariatric Surgery Devices Market is broadly segmented into minimally invasive surgical devices and non-invasive surgical devices. The minimally invasive surgical devices segment is further subdivided into stapling devices, energy/vessel sealing devices, suturing devices, and accessories. In 2018, the minimally invasive surgical devices segment is expected to account for the largest share of this market. The high growth in this segment can be attributed to the rising obesity rates and the increasing preference for minimally invasive procedures.
By procedure, the sleeve gastrectomy segment is expected to command the largest share of the market in 2018
On the basis of procedure, the market has been segmented into sleeve gastrectomy, gastric bypass, revision bariatric surgery, non-invasive bariatric surgery, adjustable gastric banding, mini-gastric bypass, and biliopancreatic diversion with duodenal switch. The sleeve gastrectomy segment is expected to command the largest share of the market in 2018. The large share of this segment can be attributed to the advantages of sleeve gastrectomy safety, effectiveness, and affordability and limited complications as compared to other bariatric procedures.
North America to dominate the market in 2018
North America is expected to account for the largest share of the Bariatric Surgery Devices Market in 2018, followed by Europe. The large share of this segment can be attributed to the rapidly growing obese population and rise in the number of bariatric surgeries.
Ethicon (US), Medtronic (Ireland), Intuitive Surgical (US), Apollo Endosurgery (US), and ReShape Lifesciences, (US) are the key players in the Bariatric Surgery Devices Market. Other players involved in this market are Aspire Bariatrics (US), Mediflex Surgical Products (US), Spatz FGIA (US), Cousin Biotech (France), and Olympus Corporation of the Americas (US).
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