The North America bariatric surgery market is expected to register a CAGR of about 10% during the forecast period. Bariatric surgery is a medical procedure that aids weight loss by either limiting the capacity of the stomach or the absorption of calories.
New York, Jan. 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Bariatric Surgery Market - Segmented by Device and Geography - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05778411/?utm_source=GNW
This is the most effective weight-loss therapy available for patients with morbid obesity. Bariatric surgery prevents obesity-related diseases, like diabetes, hypertension, cardiac dysfunction, fatty liver disease, and many others.
Minimally Invasive Bariatric Surgeries
Technological advancements in bariatric surgeries have made the procedure easier and more efficient, resulting in widespread adoption of these surgeries. Laparoscopic bariatric surgery has now become a safe procedure for treating obesity. Many new procedures have been developed and adapted into treatment modalities of bariatric surgery. Laparoscopy took a long time to gain a wider acceptance as a gold standard in this market. However, increasing success rate for laparoscopy over a decade has made surgical procedures to be less invasive and more preferred. A recent advancement in this field is the Single Incision Laparoscopic Bariatric Surgery (SILBS), which requires only a single incision instead of five or six incisions. Recent studies have shown that there is an increasing demand for this type of surgery as an alternative to traditional laparoscopy. Furthermore, studies also show that reduction in number of incisions has several advantages, like, improved cosmetic results, reduced pain, reduced time to recovery, and shortened hospital stay, compared to conventional laparoscopic surgery. Along with this other factors such as public awareness and government initiative to curb obesity will lead to the growth of this market.
High Cost of Surgery
High cost of the surgery is due to pre- and post-surgery fees. Cost depends on the surgery type, which may range between USD 15,000-35,000. The most expensive one among the surgeries is the duodenal switch surgery, which costs about USD 27,000. The gastric sleeve surgery, which is highly recommended, costs about USD 19,000. Insurance companies cover only a portion of these expenses. In Canada, Quebec had many self-pay offers for gastric bypass surgery and the average cost of this surgery is USD 20,125. There may be additional costs for resources that might be required for adverse events during the initial hospitalization, reoperations within two years for patients whose initial surgery was unsuccessful, and abdominal hernia procedures, among several others. The lack of trained surgeons to carry out bariatric surgical procedures is another factor contributing to the high cost of the surgery. All these factors have contributed to the patient’s unwillingness to undertake bariatric surgery and have greatly affected the market of devices required for the surgery. This, along with factor, such as lack of knowledge and awareness in developing countries in a large percentage of households will lead to slow down of the market
POSE (Primary Obesity Surgery, Endolumenal) Shows Promising Future
A new groundbreaking incision-less bariatric procedure, known as, POSE (Primary Obesity Surgery, Endolumenal) is now available at bariatric facilities in the United States and other parts of the world. POSE is a registered trademark of USGI Medical Inc. To perform the operation, doctors use a special set of endoscopic surgery equipment manufactured by USGI, known as the Incisionless Operating Platform (IOP). The Incisionless Operating Platform includes the Transport® Endoscopic Access Device - Retroflex, the g-Prox® EZ-33 Endoscopic Grasper, g-Cath™ EZ Delivery Catheter with Snowshoe Suture Anchors™, and the g-Lix™ Tissue Grasper. In the United States, POSE is currently undergoing an FDA study called the ESSENTIAL Trial, to determine if this device provides an indication for weight loss.
Key Developments in the Market
August 2016 - Standard Bariatrics, Inc., an innovator of bariatric surgical devices, has received U.S. Food and Drug Administration (FDA) clearance for the STANDARD CLAMP™
The major players include - Allergan Plc., Covidien Plc, Endogastric Solutions Inc., Enteromedics Inc., GI Dynamics Inc., Intuitive Surgical Inc., Johnson & Johnson, Reshape Medical Inc., Satiety Inc., Spatz FGIA Inc., and Transenterix Inc., among others.
Reasons to Purchase this Report
- Current and future North America bariatric surgery market outlook in the developed and emerging markets
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
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