Bariatric Surgery Devices Market Research, Analysis, segmentation, trends, size and forecasts, Competitive analysis, SWOT analysis

Bariatric Surgery Devices Market Introduction –

The Bariatric Surgery Devices market refers to the industry of medical devices used in the treatment of obesity, specifically through bariatric surgery. These devices include gastric bands, gastric balloons, gastric sleeves, and gastric bypasses. The market for these devices is expected to grow in the coming years due to increasing rates of obesity and a corresponding increase in the number of bariatric surgeries being performed. Factors such as sedentary lifestyles and poor dietary habits are also driving the market growth.

Bariatric Surgery Devices Market Industry Analysis

The Bariatric Surgery Devices market is a rapidly growing industry, driven by increasing rates of obesity and a corresponding increase in the number of bariatric surgeries being performed. According to a report by Research and Markets, the global bariatric surgery devices market is expected to reach $2.5 billion by 2023, growing at a CAGR of 7.5% from 2018 to 2023.

The market is segmented by device type, with gastric bands, gastric balloons, gastric sleeves, and gastric bypasses being the major types. Gastric sleeve segment is expected to be the fastest-growing segment in the market, due to its benefits over other devices such as low complication rates, faster recovery time, and sustained weight loss.

The market is also segmented by end-user, with hospitals and clinics being the major end-users. The hospitals segment is expected to dominate the market, due to the increasing number of bariatric surgeries being performed in hospitals and the availability of advanced surgical facilities.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the market, due to the high prevalence of obesity, the availability of advanced surgical facilities, and the presence of major market players in the region.

Key players in the market include Allergan, Ethicon (a subsidiary of Johnson & Johnson), Apollo Endosurgery, Medtronic, and ReShape Lifesciences. These companies are focusing on strategies such as product launches, partnerships and collaborations, and acquisitions to expand their market share.

Bariatric Surgery Devices Market Trends

Some of the key trends in the Bariatric Surgery Devices market include:

1. Growing adoption of robotic-assisted bariatric surgery: Robotics technology is becoming increasingly popular in bariatric surgery, as it allows for greater precision and control during procedures.
2. Development of adjustable and reversible bariatric devices: Companies are developing adjustable and reversible bariatric devices, which allow for changes in the size of the stomach and can be reversed if necessary.
3. Increase in the number of ambulatory surgery centers (ASCs) performing bariatric procedures: ASCs are becoming more common for bariatric surgery procedures, due to the benefits of lower costs, shorter recovery times, and improved patient outcomes.
4. Advancements in energy-based devices: Companies are investing in the development of energy-based devices such as radiofrequency ablation, which can be used in bariatric procedures to shrink the size of the stomach.
5. Growing popularity of non-surgical bariatric procedures: Non-surgical bariatric procedures, such as endoscopic sleeve gastroplasty (ESG), are becoming more popular as they are less invasive and have fewer complications than traditional surgery.
6. Increase in the number of insurance coverage for bariatric surgery: The number of insurance companies covering bariatric surgery is increasing which will drive the demand for bariatric surgery devices.
7. Growing awareness of bariatric procedures: With the increasing awareness of bariatric procedures, more people are opting for bariatric surgery, which is driving the growth of the bariatric surgery devices market.

Bariatric Surgery Devices Market Size And Forecast

The Bariatric Surgery Devices market is expected to grow significantly in the coming years. According to a report by Research and Markets, the global bariatric surgery devices market is expected to reach $2.5 billion by 2023, growing at a CAGR of 7.5% from 2018 to 2023.

North America is expected to dominate the market, due to the high prevalence of obesity, the availability of advanced surgical facilities, and the presence of major market players in the region. Europe is also expected to show significant growth in the market, due to the increasing number of bariatric surgeries being performed in the region and government initiatives to promote healthy lifestyles.

The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing number of obese population, rising awareness about bariatric surgery, and the increasing number of hospitals and clinics in the region.

The market is driven by factors such as the increasing prevalence of obesity, the growing popularity of minimally invasive procedures, and the rising adoption of bariatric surgery in developing countries. However, the market growth may be hindered by factors such as the high cost of bariatric surgery and the lack of reimbursement for bariatric procedures in some countries.

Overall, the Bariatric Surgery Devices market is expected to show strong growth in the coming years, driven by the increasing prevalence of obesity and the growing popularity of bariatric surgery as a weight loss solution.

Bariatric Surgery Devices Market Share Analysis

The Bariatric Surgery Devices market is highly consolidated, with a few major players dominating the market.

Some of the key players in the market include:

1. Ethicon (Johnson & Johnson) – Ethicon is a leading player in the market, with a strong presence in both the laparoscopic and open bariatric surgery segments. The company offers a wide range of bariatric surgery devices, including adjustable gastric bands, gastric sleeves, and gastric bypass systems.
2. Medtronic – Medtronic is a major player in the market, with a strong presence in the laparoscopic bariatric surgery segment. The company offers a range of bariatric surgery devices, including adjustable gastric bands, gastric sleeves, and gastric bypass systems.
3. Allergan – Allergan is a leading player in the market, with a strong presence in the laparoscopic bariatric surgery segment. The company offers a range of bariatric surgery devices, including adjustable gastric bands, gastric sleeves, and gastric bypass systems.
4. Apollo Endosurgery – Apollo Endosurgery is a major player in the market, with a strong presence in the endoscopic bariatric surgery segment. The company offers a range of bariatric surgery devices, including intragastric balloons and endoscopic suturing devices.
5. TransEnterix – TransEnterix is a player in the market, with a strong presence in the robotic bariatric surgery segment. The company’s Senhance System is the first digital laparoscopic surgical platform that allows for robotic surgery.

These companies hold a major market share, and they continue to invest in research and development to improve the effectiveness and safety of bariatric surgery devices. Other companies such as Covidien, Intuitive Surgical, and Aspire Bariatrics are also present in the market but with a smaller market share.

Bariatric Surgery Devices Market Competitive Landscape

The Bariatric Surgery Devices market is highly competitive, with a few major players dominating the market. These companies are engaged in intense competition to gain a larger market share, and they are constantly innovating to improve their products and services.

1. Product innovation: Companies are investing in research and development to improve the effectiveness and safety of bariatric surgery devices. For example, Ethicon has recently launched a new device called the “EndoSure Linear Load Staple” which is designed to reduce the risk of staple-line leaks during bariatric surgery.
2. Mergers and acquisitions: Companies are also engaging in mergers and acquisitions to expand their market share. Medtronic has recently acquired Covidien, which has given the company a larger market share and a wider range of products.
3. Strategic partnerships: Companies are forming strategic partnerships to expand their market reach. Ethicon has recently formed a partnership with Obalon Therapeutics, which will allow the company to expand its product offerings in the endoscopic bariatric surgery segment.
4. Collaboration with healthcare providers: Companies are collaborating with healthcare providers to improve patient outcomes and increase the adoption of bariatric surgery devices. For example, Allergan has recently collaborated with the American Society for Metabolic and Bariatric Surgery to improve patient outcomes and increase the adoption of bariatric surgery devices.
5. Distribution network: Companies are focusing on expanding their distribution network to increase their market reach. For example, Medtronic has expanded its distribution network in the Asia-Pacific region to increase its market share in the region.

Overall, the Bariatric Surgery Devices market is highly competitive, with companies engaged in intense competition to gain a larger market share. Companies are constantly innovating to improve their products and services and expanding their market reach through strategic partnerships, mergers and acquisitions, and collaborations with healthcare providers.

Bariatric Surgery Devices Market Intelligence

Bariatric Surgery Devices Market intelligence refers to the collection, analysis, and dissemination of information about the market, competitors, and industry trends to help companies make informed decisions. It includes a wide range of information such as market size and forecast, market share, competitive landscape, industry trends, regulatory environment, and customer insights.

Some of the key sources for Bariatric Surgery Devices Market intelligence include:

1. Market research reports: Companies such as Research and Markets, MarketsandMarkets, and Technavio provide in-depth market research reports that include market size and forecast, market share, competitive landscape, and industry trends.
2. Industry associations: Industry associations such as the American Society for Metabolic and Bariatric Surgery, the International Federation for the Surgery of Obesity and Metabolic Disorders, and the Obesity Surgery Society of Australia and New Zealand provide information about industry trends, regulatory environment, and clinical guidelines.
3. Company websites: Companies such as Ethicon, Medtronic, Allergan, Apollo Endosurgery, and TransEnterix provide information about their products and services, clinical studies, and regulatory approvals on their websites.
4. Regulatory agencies: Regulatory agencies such as the Food and Drug Administration (FDA) and the European Medicines Agency (EMA) provide information about regulatory approvals, clinical trials, and safety warnings for bariatric surgery devices.
5. Social media: Social media platforms such as Twitter, LinkedIn, and Facebook provide information about industry trends, company news, and customer insights.

Overall, Bariatric Surgery Devices Market intelligence is essential for companies to stay competitive in the market. It helps companies to understand the market, competitors, and industry trends to make informed decisions about product development, marketing, and distribution.

Bariatric Surgery Devices Market Industry Trends

The Bariatric Surgery Devices market is experiencing several trends that are shaping the industry:

1. Increasing prevalence of obesity: The prevalence of obesity is increasing globally, leading to a growing demand for bariatric surgery devices. According to the World Health Organization (WHO), the number of obese adults has more than doubled since 1980.
2. Shift towards minimally invasive procedures: There is a growing trend towards minimally invasive bariatric surgery procedures, such as laparoscopic and endoscopic procedures. These procedures are less invasive than traditional open surgery and have a shorter recovery period.
3. Development of new technologies: Companies are investing in research and development to develop new technologies for bariatric surgery devices. For example, companies such as Ethicon and Medtronic are developing new endoscopic devices for the treatment of obesity.
4. Growing demand for adjustable gastric bands: Adjustable gastric bands are becoming increasingly popular for the treatment of obesity. These devices can be adjusted to provide a tight or loose fit around the stomach, allowing for weight loss over time.
5. Growing demand for bariatric surgery in emerging markets: The demand for bariatric surgery is increasing in emerging markets, such as Asia and Latin America. This is due to a growing middle class, increasing awareness of obesity and its related health issues, and the availability of healthcare services.
6. High cost of bariatric surgery: The cost of bariatric surgery is still high in many countries, limiting access to the procedure for many patients. This is a major challenge for the market and companies are looking for ways to reduce the cost of the procedure.

Overall, the Bariatric Surgery Devices market is being shaped by a combination of factors including increasing prevalence of obesity, shift towards minimally invasive procedures, development of new technologies, growing demand for adjustable gastric bands, growing demand for bariatric surgery in emerging markets, and high cost of bariatric surgery.

Bariatric Surgery Devices Market Analysis

Bariatric Surgery Devices Market analysis is the process of evaluating the market size, share, trends, growth, and segmentation to understand the current state of the market and identify opportunities for future growth.

1. Market size and forecast: Analysis of the market size and forecast helps to understand the current and future potential of the market. This information can be used to plan for future investments and product development.
2. Market share analysis: Analysis of market share helps to understand the relative position of different companies in the market. This information can be used to identify key players and potential competitors.
3. Segmentation analysis: Segmentation analysis helps to understand the different segments of the market and their relative size and growth. This information can be used to identify target markets and develop marketing strategies.
4. Competitive landscape: Analysis of the competitive landscape helps to understand the relative position of different companies in the market, their market share, product portfolio, and business strategies. This information can be used to identify potential partners and competitors.
5. Industry trends: Analysis of industry trends helps to understand the current and future direction of the market. This information can be used to identify opportunities for product development and business expansion.

Overall, Bariatric Surgery Devices Market analysis is essential for companies to understand the current state of the market and identify opportunities for future growth. It can be used to plan for future investments, product development, and marketing strategies.

Bariatric Surgery Devices Market Segmentation

Bariatric Surgery Devices market can be segmented based on product type, end-user, and geography.

1. Product Type: The market can be segmented into three main categories: restrictive devices, malabsorptive devices, and combined restrictive and malabsorptive devices.

• Restrictive Devices: These include adjustable gastric banding, vertical sleeve gastrectomy, and endoscopic sleeve gastroplasty.
• Malabsorptive Devices: These include biliopancreatic diversion, Roux-en-Y gastric bypass, and duodenal switch.
• Combined Restrictive and Malabsorptive Devices: These include sleeve gastrectomy with duodenal switch and gastric bypass with duodenal switch.

2. End-user: The market can be segmented into hospitals, clinics, and ASCs.
3. Geography: The market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Overall, segmentation of the Bariatric Surgery Devices market can help companies identify target markets and develop marketing strategies. It can also help companies to understand the relative size and growth of different segments of the market and to identify opportunities for future growth.

Bariatric Surgery Devices Market Forecast

The Bariatric Surgery Devices market is expected to grow at a significant CAGR during the forecast period (2021-2028).

The increasing prevalence of obesity, growing awareness of obesity and its related health issues, and the availability of healthcare services are the major factors driving the growth of the market. Additionally, the shift towards minimally invasive procedures and the development of new technologies are also expected to contribute to the growth of the market.

The growing demand for adjustable gastric bands and the growing demand for bariatric surgery in emerging markets are also expected to fuel the growth of the market. However, the high cost of bariatric surgery is a major challenge for the market, which may limit access to the procedure for many patients.

According to a research, the global Bariatric Surgery Devices market size was valued at USD 1.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.2% from 2021 to 2028.

It is important to note that the market forecast can be affected by the global events such as pandemics, economic downturns and other factors.

Bariatric Surgery Devices Market Growth

The Bariatric Surgery Devices market is expected to grow significantly during the forecast period, driven by several factors such as:

1. Increasing prevalence of obesity: Obesity is a major health problem worldwide, and the number of individuals suffering from obesity is increasing. This is expected to drive the demand for bariatric surgery devices, as these devices are used to treat obesity and its related health issues.
2. Growing awareness of obesity and its related health issues: As awareness about the health risks associated with obesity increases, more people are seeking treatment for obesity and its related health issues. This is expected to drive the growth of the market.
3. Advancements in technology: The development of new technologies in bariatric surgery devices, such as less invasive procedures, is expected to drive the growth of the market.
4. Increasing demand for adjustable gastric bands: Adjustable gastric bands are becoming increasingly popular as a weight loss option, and this is expected to drive the growth of the market.
5. Growing demand for bariatric surgery in emerging markets: The increasing adoption of bariatric surgery in emerging markets, such as India and China, is expected to drive the growth of the market.
6. Rising healthcare expenditure: The increasing healthcare expenditure globally is also expected to drive the growth of the market.

Overall, the Bariatric Surgery Devices market is expected to grow at a significant CAGR during the forecast period, driven by the increasing prevalence of obesity, growing awareness of obesity and its related health issues, and advancements in technology.

Bariatric Surgery Devices Market Competitor Analysis

Competitor analysis in the Bariatric Surgery Devices market involves identifying key players in the market and understanding their market share, product offerings, marketing strategies, and financial performance. Some of the major players in the market include:

1. Ethicon (Johnson & Johnson)
2. Medtronic
3. Apollo Endosurgery
4. ReShape Lifesciences
5. Aspire Bariatrics
6. Intuitive Surgical
7. Spatz FGIA
8. Allergan
9. TransEnterix
10. W. L. Gore & Associates

These companies hold a significant market share and are known for their strong product portfolios, marketing strategies, and financial performance. They have a strong presence in the market and are continuously investing in research and development to improve their product offerings and expand their market share.

Ethicon and Medtronic are the leading players in the market, they have a wide range of products and a strong distribution network globally. Apollo Endosurgery, ReShape Lifesciences, Aspire Bariatrics, and Intuitive Surgical are also prominent players in the market, they have a strong focus on developing and introducing innovative products.

In order to compete effectively in the market, companies need to have a strong product portfolio, a good distribution network, and a strong marketing strategy. They should also focus on expanding their presence in emerging markets, and investing in research and development to develop new products and technologies.

Bariatric Surgery Devices Market Strengths

The Bariatric Surgery Devices market has several strengths that contribute to its growth, some of them are:

1. Increasing prevalence of obesity: Obesity is a major health problem worldwide, and the number of individuals suffering from obesity is increasing. This is expected to drive the demand for bariatric surgery devices, as these devices are used to treat obesity and its related health issues.
2. Growing awareness of obesity and its related health issues: As awareness about the health risks associated with obesity increases, more people are seeking treatment for obesity and its related health issues. This is expected to drive the growth of the market.
3. Advancements in technology: The development of new technologies in bariatric surgery devices, such as less invasive procedures, is expected to drive the growth of the market.
4. Increasing demand for adjustable gastric bands: Adjustable gastric bands are becoming increasingly popular as a weight loss option, and this is expected to drive the growth of the market.
5. Growing demand for bariatric surgery in emerging markets: The increasing adoption of bariatric surgery in emerging markets, such as India and China, is expected to drive the growth of the market.
6. Rising healthcare expenditure: The increasing healthcare expenditure globally is also expected to drive the growth of the market.
7. Government support and reimbursement policies: Government support and reimbursement policies for bariatric surgery and devices are expected to increase the adoption of these devices in the market.
8. Growing adoption of minimally invasive procedures: The shift towards minimally invasive procedures is expected to drive the growth of the market, as these procedures have several advantages over traditional procedures, such as lower risk of complications and faster recovery times.
9. Development of New Devices: Companies are continuously investing in research and development to develop new devices and improve the existing ones, this is expected to drive the growth of the market.
10. Increase in geriatric population: The increase in geriatric population globally has led to a rise in the number of people suffering from obesity-related health issues, this is expected to drive the growth of the market.

Bariatric Surgery Devices Market Opportunities

The Bariatric Surgery Devices market has several opportunities for growth, some of them include:

1. Emerging markets: The increasing adoption of bariatric surgery in emerging markets, such as India and China, is expected to present significant opportunities for growth.
2. Development of new devices: There is a potential for new devices to be developed, such as non-surgical devices and robotic devices, which could present new opportunities for growth.
3. Telemedicine and virtual consultations: The increasing use of telemedicine and virtual consultations for bariatric surgery could present opportunities for growth, as it allows for remote monitoring and follow-up of patients.
4. Non-invasive and minimally invasive procedures: The growing demand for non-invasive and minimally invasive procedures is expected to present opportunities for growth, as these procedures have several advantages over traditional procedures, such as lower risk of complications and faster recovery times.
5. Multidisciplinary approach: The growing emphasis on a multidisciplinary approach to bariatric surgery, which includes the use of dietitians, psychologists, and exercise specialists, could present opportunities for growth.
6. Development of new technologies: The development of new technologies, such as artificial intelligence and machine learning, could present opportunities for growth in the market.
7. Increase in geriatric population: The increase in geriatric population globally has led to a rise in the number of people suffering from obesity-related health issues, this is expected to present opportunities for growth.
8. Increase in home-based bariatric surgery: The increasing trend of home-based bariatric surgery is expected to present opportunities for growth in the market.
9. Increase in funding and research: The increase in funding and research activities in the field of bariatric surgery is expected to present opportunities for growth in the market.
10. Expansion of product portfolio: Companies are expanding their product portfolio to cater to the needs of the patients, this is expected to present opportunities for growth in the market.

Bariatric Surgery Devices Market Weakness

The Bariatric Surgery Devices market has several weaknesses that could hinder its growth, some of them include:

1. High cost of surgery and devices: Bariatric surgery and devices can be expensive, which may limit their accessibility for some individuals. This could be a major hindrance to market growth.
2. Risk of complications and side effects: Bariatric surgery and devices carry a risk of complications and side effects, which may discourage some individuals from undergoing the procedure.
3. Lack of trained professionals: A lack of trained professionals, such as bariatric surgeons and dietitians, may limit the availability of bariatric surgery in certain areas, which could hinder market growth.
4. Limited reimbursement: In some countries, bariatric surgery and devices are not fully covered by health insurance, which could limit the number of individuals who can afford the procedure.
5. Post-surgery complications: There are potential risks of post-surgery complications, such as bleeding, infection, and blood clots, which could discourage people from undergoing the procedure.
6. Stigma associated with bariatric surgery: There is a social stigma associated with bariatric surgery, which may discourage some individuals from seeking treatment.
7. Stringent regulations: Stringent regulations and guidelines set by the government and regulatory bodies may limit the availability of bariatric surgery devices in certain regions.
8. High maintenance cost: The high cost of maintaining and replacing the devices may discourage some patients from opting for the surgery.
9. Dependence on devices: Some patients may become dependent on the devices and may not be able to lose weight without them.
10. Limited options for patients with comorbidities: Patients with comorbidities may have limited options for bariatric surgery, which could hinder market growth.

Bariatric Surgery Devices Market Threats

The Bariatric Surgery Devices market faces several threats that could affect its growth, some of them include:

1. Economic downturn: Economic downturns and financial recessions can negatively impact the market, as individuals may be less likely to afford the procedure.
2. Competition from non-surgical weight loss methods: The market for bariatric surgery devices faces competition from non-surgical weight loss methods such as diet and exercise, medication, and non-invasive procedures.
3. Developments in alternative treatments: Advancements in alternative treatments, such as the use of drugs and devices for weight loss, could pose a threat to the market.
4. Lack of awareness: A lack of awareness about bariatric surgery and devices may limit the number of individuals who seek treatment, which could hinder market growth.
5. Limited access to healthcare: Limited access to healthcare, particularly in developing countries, could restrict the number of individuals who can afford or receive bariatric surgery, which could hinder market growth.
6. Legal and regulatory challenges: The bariatric surgery devices market is subject to legal and regulatory challenges, such as product liability lawsuits and FDA approval, which could hinder market growth.
7. Limited availability of devices: The limited availability of devices in certain regions may restrict the number of individuals who can receive bariatric surgery, which could hinder market growth.
8. Side effects: Bariatric surgery can have side effects such as nausea, vomiting, and diarrhea, which could discourage some patients from opting for the surgery.
9. Long-term complications: Long-term complications such as hernias, bowel obstruction, and stomach perforation could discourage some patients from opting for the surgery.
10. Risk of product recalls: Bariatric Surgery Devices Market is subject to risk of product recalls, which could negatively impact the market.