Global sleeve gastrectomy devices market forecast
The demand for minimally invasive (MI) bariatric surgeries such as sleeve gastrectomy is increasing due to the rising incidence of obesity and metabolic conditions such as Type-2 diabetes. Research analysis on the global sleeve gastrectomy devices market identifies that increasing demand for MI procedures in outpatient facilities will be one of the major factors that will have a positive impact on the sleeve gastrectomy devices market growth. Patients undergoing laparoscopic sleeve gastrectomy surgeries are required to stay in the ASC for less than 24 hours. Also, the availability of MI procedures such as sleeve gastrectomy and non-invasive procedures such as intragastric balloon is minimizing the adoption of gastric band surgery devices. The demand for sleeve gastrectomy devices will further increase due to its better clinical effectiveness. Technavio’s market research analysts predict that this market will grow at a CAGR of close to 14% by 2021.
The obesity rate is rising in the US due to the increase in childhood obesity. This makes the US the largest contributor to this obesity surgery devices market in the Americas. In addition, the rate of obesity will continue to increase in the region due to the improper diet and health problems. The prevalence of chronic diseases is increasing in Canada due to the growing rate of obesity. Consequently, the sales volume of sleeve gastrectomy devices will increase and will propell the sleeve gastrectomy devices market value. Furthermore, the adoption of sleeve gastrectomy devices will increase throughout the estimated period in the Americas due to the complications associated with Roux-en-Y gastric bypass (RYGB) and biliopancreatic diversion/duodenal switch procedures.
Competitive landscape and key vendors
The sleeve gastrectomy devices market is characterized by the presence of limited regional and global players. These vendors are increasingly competing against each other based on factors such as device cost, services offered, insurance coverage, patient waiting period, partnership with universities, and research and development funding. Vendors in this obesity surgery devices market are focusing on expanding into emerging markets by diversifying their product portfolio and increasing their investments in the acquisition of advanced technologies.
Key vendors in this market are -
- Johnson & Johnson Services
- Medtronic
Other prominent vendors in the market include Baxter, Changzhou Ankang Medical Instruments, Dextera Surgical, Grena, MID, and Silex Medical.
Segmentation by product and analysis of the sleeve gastrectomy devices market
- Tissue closure devices
- Dissection and positioning devices
Tissue closure devices are gaining popularity because they are used for other surgeries apart from the sleeve gastrectomy procedures. Silex Medical is one of the vendors focusing on the production of reusable surgical staplers for laparoscopic procedures. Surgical staplers, hemostasis devices, precision devices, and tissue sealants are some of the tissue closure devices used in the sleeve gastrectomy procedure.
Segmentation by end-user and analysis of the sleeve gastrectomy devices market
- Hospitals and clinics
- ASCs and obesity centers
A large number of patients rely on hospitals because they engage closely with many suppliers, reimbursement authorities, and government organizations. The number of bariatric surgeries performed in hospitals and clinics is increasing and this will in turn drive the sales of sleeve gastrectomy devices.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global sleeve gastrectomy devices market?
- What are the key market trends impacting the growth of the global sleeve gastrectomy devices market?
- What are the challenges to market growth?
- Who are the key vendors in the global sleeve gastrectomy devices market?
- What are the market opportunities and threats faced by the vendors in the global sleeve gastrectomy devices market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global sleeve gastrectomy devices market?
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