Obesity Surgery Devices Market to See Strong Growth and Business Opportunities

The obesity surgery devices market size is projected to reach $2.8 billion by 2023, growing at a CAGR of 9.9% during 2017-2023.
 
 
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ANTIOCH, Calif. - Oct. 10, 2019 - PRLog -- he increasing incidence of obesity, leading to significant demand for obesity surgeries, growing awareness toward bariatric surgeries, and dynamic lifestyle are some of the major factors driving the growth of the obesity/bariatric surgery devices market. In 2016, the market generated a revenue of $1.4 billion, and it is predicted to attain a size of $2.8 billion by 2023, progressing at a CAGR of 9.9% during 2017–2023 (forecast period). Obesity surgery devices are medical equipment used in bariatric surgeries for the treatment of obesity.

Based on procedure, the obesity/bariatric surgery devices market (http://bit.ly/2KKSsjt) is bifurcated into non-invasive and minimally invasive surgery. Of these, in 2016, the minimally invasive bifurcation dominated the market in terms of revenue, and it is expected to maintain its dominance during the forecast period. This is attributed to the fact that the demand for these surgeries is increasing, owing to their lower cost and no radiation involvement compared to other surgeries. However, the non-invasive surgery bifurcation is predicted to witness faster growth, at a 17.1% CAGR, during the 2017–2023 period.

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Non-invasive surgeries do not need incisions and cause less complications compared to minimally invasive surgeries. On the basis of type, the obesity/bariatric surgery devices market is categorized into stapling devices, gastric balloons, gastric bands, gastric electrical stimulators, and others. Out of these, during 2017–2023, gastric balloons are predicted to register the fastest growth. This is ascribed to the fact that they do not need any kind of incision and are a cost-effective technique for weight loss.

Hence, the surging prevalence of obesity, rising awareness on bariatric surgeries, and increasing usage of gastric balloons are being witnessed as the key drivers for the market growth.

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Tags:Obesity Surgery Devices Market
Industry:Medical
Location:Antioch - California - United States
Subject:Reports
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