Obesity/Bariatric Surgery Devices Market by Procedure (Gastric Bypass, Sleeve Gastrectomy, Gastric Banding, BPD-DS, Non-Invasive Surgery), by Type (Stapling Devices, Gastric Bands, Gastric Balloons, Gastric Electrical Stimulators), by Geography (U.S., Canada, France, Belgium, Italy, Germany, U.K., Sweden, Spain, India, Australia, China, Taiwan, Korea, Brazil, Argentina, Colombia, Mexico, Chile, Saudi Arabia, U.A.E., South Africa) - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023

Obesity/Bariatric Surgery Devices Market Overview

The global obesity surgery devices market size was valued at $1.4 billion in 2016, and it is expected to grow at a CAGR of 9.9% during the forecast period. Obesity surgery is mainly performed through minimally invasive and non-invasive surgical procedures. The minimally invasive surgical procedures occupied larger share in 2016. Non-invasive surgical procedures is expected to increase at a faster pace, at a CAGR of 17.1% during the forecast period. This increase is mainly attributable to the negligible incisions on the body in non-invasive procedures and less complications as compared to minimally invasive surgical procedures.

GLOBAL MINIMALLY INVASIVE SURGERY DEVICES MARKET, BY TYPE, $M (2013 – 2023)

Sleeve gastrectomy surgery devices held the largest share in the obesity surgery devices market as sleeve gastrectomy results in more weight loss and have a low mortality rate as compared to other alternative surgical procedures. The sleeve gastrectomy devices market is expected to witness the fastest growth during the forecast period, since sleeve gastrectomy is a short surgical procedure and usually involves a shorter hospital stay which further decreases the overall cost of procedure.

There are several types of devices used for obesity surgery in the market such as stapling devices, gastric bands, gastric balloons and gastric electric stimulators and others which primarily include clip appliers, trocars, sutures, and gastric surgical clamp. Gastric balloons are expected to register the fastest growth in the obesity surgery devices market during the forecast period as they do not require any kind of incision and is an effective method for weight loss.

North America held the largest share in the obesity surgery devices market in 2016 and is expected to grow at a CAGR of 9.5% during the forecast period, mainly driven by increasing demand for minimally invasive procedures for reducing obesity, high expenditure on healthcare and increasing prevalence of obesity in the region.

According to the data provided by the World Bank, around 30,537 surgeries were performed per 100,000 population in the U.S., in 2012. The Centers for Disease Control and Prevention (CDC) anticipates that around 42% of Americans are likely to be obese by 2030, with approximately 32 million obese adults in the U.S., by 2030. Increase in the number of obese individuals has further provoked an expansion in the inclination towards obesity surgery devices, which further supports the growth of the obesity surgery devices market in the region.

Obesity/Bariatric Surgery Devices Market Dynamics

Growth Drivers

Increasing prevalence of obesity, rising awareness about bariatric surgery among obese population, and lifestyle changes leading to high risk of obesity are some of the factors boosting the growth of the obesity surgery devices market. As per the data published by the American Society for Metabolic and Bariatric Surgery (ASMBS), the number of bariatric surgeries performed in the U.S. increased from 158,000 in the year 2011 to 196,000 in 2015, indicating that the market will grow at a considerable rate in future.

There are various types of obesity surgery devices that are used in different types of bariatric surgeries. With the increasing prevalence of obesity, there are several technological advancements that are taking place in the obesity surgery devices industry, for instance, in June 2015, Medtronic plc launched GastriSail, a device for sleeve gastrectomy, that can be used as standalone device, whereas, the traditional method of performing sleeve gastrectomy involves the use of three devices. The device posed lesser risk of infection and discomfort as compared to the traditional method.

Globally, many organizations are conducting obesity awareness programs to increase the awareness about various treatment options available for obesity, including bariatric surgeries, among obese population. For instance, Campaign to End Obesity, a non-profit organization in the U.S. conducts various programs to increase the awareness about various options such as proper diet, exercise, and bariatric surgery, as comprehensive obesity treatment approaches. In June 2013, American Association of Physicians of Indian Origin (AAPI), launched the Childhood Obesity Awareness program, thus driving the obesity surgery devices market.

Opportunities

Favorable government initiatives for research programs aimed at obesity treatment and insurance coverage for treatment of obesity provide ample number of opportunities for the providers in obesity surgery devices market. Currently, majority of the insurance companies that provide cover for obesity surgeries, cover gastric bands, gastric sleeve surgery, and laparoscopic gastric bypass. The lap band procedure was covered under insurance by most insurance companies only a few years ago. Under the Medicaid insurance program in the U.S., a patient can get an insurance coverage for gastric bypass, lap gastric bands, and gastric sleeve surgery.

The recent introduction of the Treat and Reduce Obesity Act, 2017, will increase the range of obesity treatments that Medicare covers. According to the data published by the Obesity Society, only 26% of the obese population in the U.S. is covered under the Medicare, Medicaid and essential health benefit plans under the Affordable Care Act (ACA). These insurance covers further provoke patients to opt for the best effective obesity surgical procedures creating demand for surgical products in the obesity surgery devices market.

Obesity/Bariatric Surgery Devices Market Competitive Landscape

The players in the obesity surgery devices industry are expanding their facilities to gain larger market share in different geographic areas and provide obesity solutions to a larger population. For instance, in June 2017, TransEntrix Inc. entered the Japanese market for its Senhanse system sales. The company sold its first Senhance system to the Saitama Medical University International Medical Center. Earlier than this TransEnterix acquired Senhance from Italy’s Sofar back in 2015, and the system already has CE Mark approval across Europe.

Other key manufacturers operating in the obesity surgery devices industry include Medtronic plc, Johnson & Johnson, Spatz FGIA Inc., W. L. Gore & Associates, Inc., ReShape Lifesciences, Inc. (formerly EnteroMedics Inc.), and Cousin Biotech.