Bariatric (Obesity) Surgical Devices: A Global Strategic Business Report
San Jose, California (PRWEB) November 12, 2012
Follow us on LinkedIn – Obesity has emerged as one of the most critical health issues facing the medical world today, primarily due to the changing lifestyles and dietary habits of consumers. Though considered as a condition of the modern industrialized world, obesity has become a major health concern in developing regions as well. Improving socioeconomic status, growing affluence, changing dietary habits, less inclination for any form of physical activity, and increased incidence of childhood obesity are major contributors to the growing incidence of obesity in these countries. With obesity assuming epidemic proportions, the volume of bariatric surgeries has been witnessing a steady growth across the world, creating enormous opportunities for manufacturers of bariatric surgical devices. Bariatric surgery procedures are also finding favor owing to the increasing availability of research data on the procedure’s long-term efficacy in reducing weight and minimizing risk of co-morbidities.
With the global economy wavering between sluggishness and recovery, bariatric surgery market has been hurt by reduced margins due to the downturn. The market has been suffering a significant decline since 2009, whereby the number of procedures fell considerably as consumers curtailed discretionary expenses. The elective nature of bariatric surgery meant that most obese patients either postponed or canceled their plans to go under the knife. In developed countries, the market has been hit by Government spending restrictions, higher patient co-pays for obesity treatments, and limited insurance coverage. Following adversities encountered during the recession, bariatric surgery market is on the recovery mode driven by increasing obesity incidence, growing awareness about obesity-related diseases, and the availability of better treatment options.
As stated by the new market research report on Bariatric (Obesity) Surgical Devices, the US market is expected to grow driven by the increasing incidence of obesity particularly among younger individuals, technological advances, improved reimbursement coverage, newer publications, intense marketing, and increase in the number of surgeons in the bariatric segment. Surgical option has come to fore due to the limited success of alternative weight loss measures such as exercise and dieting. Improved patient awareness levels, and availability of multiple treatment options and healthcare facilities are also enhancing patients’ confidence in surgical treatment.
Gastric bypass and sleeve gastrectomy procedures continue to register strong growth despite the recession. Gastric bypass is the most widely employed surgical procedure owing to its advantages in terms of greater amount of weight loss and lesser weight gain. Sales of gastric banding devices, on the other hand, have been witnessing a declining trend owing to recessionary conditions, and the growing demand for alternate procedures such as sleeve gastrectomy. Similar trend is seen in European countries as well, where Adjustable Gastric Banding devices are losing share to Gastric Bypass Devices and Intragastric Balloon Devices. Gastric bypass devices represent the largest category in the European market for bariatric surgical devices.
Ethicon Endo-Surgery, Covidien, and Allergan are the leading players in the global bariatric surgery devices market. Major players profiled in the report include Allergan Inc., Agency for Medical Innovations, Bariatric Solutions GmbH, Cousin Biotech, Covidien Plc, Ethicon Endo-Surgery Inc., Helioscopie SA, Médical Innovation Développement Company, PARÉ Surgical Inc., Satiety Inc., and Surgical IOC.
The research report titled "Bariatric (Obesity) Surgical Devices: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The US market for Bariatric Surgical Devices is analyzed by the segments - Gastric Bypass Devices, Gastric Banding Devices, and Sleeve Gastrectomy. The European market is separately analyzed by the segments - Adjustable Gastric Banding Devices, Gastric Bypass Devices, and Intragastric Balloon Devices.
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