Innovative Advances Propel Bariatric Surgery Devices Market: Projected CAGR of 7.2% during 2023-2030
According to a new report published by MarkWide Research, titled, “Bariatric Surgery Devices Market Outlook: Growth, Trends, and Forecasts (2023-2030)”, the global Bariatric Surgery Devices Market is primed to exhibit remarkable growth, driven by technological advancements and increasing prevalence of obesity. The market is expected to witness a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period of 2023 to 2030.
Obesity, a burgeoning global health concern, has stimulated the demand for effective weight management solutions, consequently fostering the growth of the bariatric surgery devices market. Rising awareness about the health risks associated with obesity and the increasing adoption of minimally invasive surgical procedures are propelling the market forward.
One of the key drivers of the bariatric surgery devices market is the escalating prevalence of obesity worldwide. Sedentary lifestyles, unhealthy dietary habits, and genetic factors have collectively contributed to the rising incidence of obesity, particularly in developed economies. Governments and healthcare organizations are recognizing the urgency of addressing this issue, thereby augmenting the demand for bariatric surgeries and devices.
Minimally invasive surgical techniques have gained substantial traction in recent years due to their advantages such as reduced postoperative complications, shorter hospital stays, and quicker recovery times. Bariatric surgery has not remained untouched by this trend, with laparoscopic procedures becoming the preferred choice for both patients and surgeons. This paradigm shift towards minimally invasive surgeries is boosting the adoption of bariatric surgery devices.
The report highlights the prominence of North America in the bariatric surgery devices market. The United States, in particular, holds a significant share due to the high prevalence of obesity and the presence of well-established healthcare infrastructure. Moreover, increasing healthcare expenditure and favorable reimbursement policies further bolster the growth of the market in this region.
However, the Asia-Pacific region is expected to witness the highest growth rate during the forecast period. Factors such as the growing awareness about obesity-related health risks, improving healthcare facilities, and increasing disposable incomes are contributing to the rapid expansion of the bariatric surgery devices market in this region.
In terms of product segmentation, the report covers a comprehensive range of devices including gastric bands, gastric balloons, gastric staples, and intragastric balloons. Gastric bypass surgery is also explored as a prominent surgical technique within the bariatric surgery devices market. Among these, the gastric bypass segment is projected to experience substantial growth, attributed to its efficacy in inducing weight loss and its long-term success rates.
The competitive landscape of the bariatric surgery devices market is characterized by notable players focusing on research and development activities to introduce innovative products. Key market participants profiled in the report include Johnson & Johnson, Medtronic plc, Apollo Endosurgery Inc., Aspire Bariatrics Inc., and ReShape Lifesciences Inc., among others.
In conclusion, the bariatric surgery devices market is set to achieve significant growth over the forecast period of 2023-2030. The escalating prevalence of obesity, coupled with advancements in surgical techniques and increased adoption of minimally invasive procedures, is anticipated to drive the market’s expansion. The Asia-Pacific region is poised to exhibit the highest growth rate, while North America will remain a key player in the market. As technology continues to evolve, innovative solutions from key market players will play a pivotal role in shaping the future of bariatric surgery devices.