The Global Bariatric Devices Market was valued at US$ XX billion in 2016 and is expected to grow at around XX% CAGR to reach nearly US$ XX billion by 2022. Bariatric devices are medical devices that help in the treatment and prevention of obesity. Bariatric devices are usually placed in position with the help of surgical procedures like gastric bypass surgery, sleeve gastrectomy and gastric banding.
Different types of bariatric devices include gastric bands, gastric balloons, electrical stimulation systems, gastric emptying systems, and others. High prevalence of obesity and increasing availability of bariatric surgery options are the main growth drivers of the market.
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The end users of bariatric devices are mainly hospitals and bariatric treatment centres. These devices are mainly used on obese or overweight individuals who are unable to revert to or maintain healthy weight due to internal or external factors. Inability to follow a healthy lifestyle and medical conditions that result in obesity are some of the reasons that cause patients to opt for bariatric devices.
High prevalence of obesity in the developed and developing countries, and rising awareness about the risks associated with obesity are fuelling the growth of the global bariatric devices market. Increasing availability of bariatric surgery options is encouraging greater number of people to opt for the use of bariatric devices. Adoption of new technology has resulted in different types of products and minimally invasive procedures of implanting bariatric devices, thus expanding the size of the market.
Prevalence of unhealthy lifestyles and medical conditions that result in obesity, and desire to maintain proper body weight with least amount of physical effort are other growth factors for the global bariatric devices market.
The global bariatric devices market also faces some constraints such as the chance of complications and undesired side-effects from the surgery. Availability of non-surgical therapies and hesitation in patients to opt for surgical procedures also threaten the growth of the market. Another restraint is the relatively high cost of the procedure involved.
The bariatric devices market can be segmented based on the type of surgery, the type of bariatric device, end users and geography. Based on type of surgery the market can be divided as open surgery, minimally invasive surgery and non-invasive surgery. Based on type of device, the market can be segmented as gastric bypass devices, gastric bands, gastric stapling devices, electrical stimulation systems, gastric balloons, gastric emptying systems, etc. Based on end users, the market can be segmented as hospitals, bariatric treatment centres, and others.
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Geographically, the global bariatric devices market can be divided into North America, Europe, Asia-Pacific (APAC), and Latin America, Middle East and Africa (LAMEA) regions. Currently North America accounts for the largest share of the market due to highest population of obese individuals. Increasing obesity and availability of advanced healthcare options is helping to expand the market in Europe and APAC.
Some of the major players in the market are EnteroMedics Inc., Creganna-Tactx Medical, Allergan, Ethicon, Aspire Bariatrics Inc., and others.
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