05-14-2019 05:52 PM CET - Health & Medicine

North America Bariatric Surgery Market - Growth & Revenue By Leading Players: Medtronic PLC, Ethicon (Johnson and Johnson), B. Braun Melsungen AG, Olympus Corporation, and Conmed Corporation

Press release from: Market Prognosis

The North American bariatric surgery market was valued at USD 1,350.47 million in 2018 and is expected to reach USD 1,841.01 million by 2024. The market is also expected to register a CAGR of 5.30% during the forecast period (2019-2024).

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As obesity rates continue to rise, the number of people seeking bariatric surgery for weight loss is increasing. Therefore, the increasing incidence rate of obesity in adults, due to changing lifestyle habits, and excessive intake of calories are the major drivers of the bariatric surgery devices market. Also, there are government efforts to control obesity, and the industry players are heavily investing in their research to treat various chronic complications. The government funding to increase awareness about obesity, the preference for incision-less surgeries, and technological innovations enabling bariatric surgeries with small incisions, is expected to spur the market growth.
The cost involved in bariatric surgery, including a gastric sleeve and gastric bypass procedures, is high, and is one of the major concerns for many people who are planning to undergo the surgery. Thus, the high costs associated with the surgery restrain the market growth.

Competitive Landscape
The North American bariatric surgery market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With the rising number of obese patients, few other smaller players are also expected to enter into the market in the coming few years. Some of the major players of the market are Medtronic PLC, Ethicon Inc. (Johnson and Johnson), B. Braun Melsungen AG, Olympus Corporation, and Conmed Corporation, among others.

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Scope of the Report
Bariatric surgery or weight loss surgery is used as one of the major treatment procedures for treating obesity. It is generally the last option for patients who have failed in the attempt to lose weight by several other means. During this procedure, the size of the stomach is reduced by either removing some parts of the stomach or using a gastric band.

Key Market Trends
Closure Device Sub-segment is Expected to Experience the Fastest Growth in the Assisting Devices Segment
Closure devices are used for reconnecting the tissues during surgical procedures and for closing incisions made by trocars. The laparoscopic port closure device successfully and safely closes the port sites in obese patients undergoing bariatric procedures and surgeries. There are over two million laparoscopic cases performed annually in the United States. These operations are performed with specialized instruments, designed to be inserted through small incisions. Therefore, the rising number of laparoscopic procedures helps in increasing the usage of closure devices.
These devices are also expected to register high growth, as they are widely used in the minimally invasive surgeries that require immediate closure of very small incisions made at the time of surgical procedures. However, these devices are found to be complicated, expensive, and may cause tissue trauma. The major closure devices present in the market are the Cooper Surgical Carter Thomason, Teleflex Endo Fascial Closure, Gordian’s TroClose1200u2122, etc.

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