Global Sleeve Gastrectomy Devices Market 2017-2021
About Sleeve Gastrectomy Devices
Sleeve gastrectomy is the surgical weight loss procedure, in which about 15% of the stomach size is reduced resulting in low appetite for patients. Based on product, the market is segmented into tissue closure devices, and dissection and positioning devices. The global sleeve gastrectomy devices market is expected to grow at a high growth rate during the forecast period due to the rising awareness about obesity treatments and advances in MI procedures and their efficacy. However, complications associated with the procedure, lack of reimbursement, and the inclination of medical professionals toward other bariatric surgical procedures hinder the market growth. Obesity is a growing concern, which is increasing the demand for surgical weight loss procedures. Laparoscopic bariatric surgery has a growing demand in the market, owing to minimal incision, medical tourism, and less cost burden on patients in emerging economies.
Technavio’s analysts forecast the global sleeve gastrectomy devices market to grow at a CAGR of 13.53% during the period 2017-2021 .
Covered in this report
The report covers the present scenario and the growth prospects of the global sleeve gastrectomy devices market for 2017-2021 . To calculate the market size, the report considers the sales/volume/value of sleeve gastrectomy devices.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Sleeve Gastrectomy Devices Market 2017-2021
Technavio recognizes the following companies as the key players in the global sleeve gastrectomy devices market: Johnson & Johnson Services and Medtronic
Other Prominent Vendors in the market are: Baxter, Changzhou Ankang Medical Instruments, Dextera Surgical, Grena, MID, and Silex Medical.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rise in medical tourism. Medical tourism is one of the most potent drivers in the global sleeve gastrectomy devices market. The high procedure cost of the sleeve gastrectomy procedures in the developed countries such as the US, Germany, France, and Canada created a demand for medical tourism in the market. Medical tourism helps in generating high revenue for the developing economies such as India, Italy, and Thailand. The sleeve gastrectomy procedures are low-cost procedures compared with the other bariatric procedures such as gastric bypass surgical procedures.”
According to the report, one of the major drivers for this market is Increasing demand for MI procedures in outpatient facilities. The rising incidence of obesity and metabolic conditions such as Type-2 diabetes have increased the demand for MI bariatric surgeries such as sleeve gastrectomy in the market. Laparoscopic sleeve gastrectomy surgeries can be performed in the outpatient facilities. For this procedure, the patient is required to stay in the ASC for less than 24 hours. However, for some complicated cases, the stay can increase to 2-3 nights. The adoption of gastric band devices is low due to the presence of non-invasive procedures such as intragastric balloon and MI procedures such as sleeve gastrectomy in the market. However, owing to the better clinical effectiveness, there is a rising demand for sleeve gastrectomy devices in the market.
Further, the report states that one of the major factors hindering the growth of this market is Lack of reimbursement. There are limited reimbursements for the sleeve gastrectomy devices in the market, which hampers their adoption. Developed countries such as publicly funded Canada and the US provide medical coverage to the patients undergoing sleeve gastrectomy. In the US, the CMS covers only 20% of the total bariatric cost. Also, the waiting time to conduct bariatric surgery in Canada and the UK is high, which impacts the market growth. In Brazil, total costs of medications and examinations due to RYGB and sleeve gastrectomy decrease progressively with years after surgery. In Spain, the clinical pathway for bariatric surgery, hospitalization complication rates were reduced by 25% and admission costs were reduced by 14%. In France, Germany, Austria, and Italy bariatric surgery was more cost-effective over a five-year period than standard medical management of Type-2 diabetes. In Canada, Finland, and Portugal bariatric surgery was found to be more cost-effective than conventional procedures.
Johnson & Johnson Services, Medtronic, Baxter, Changzhou Ankang Medical Instruments, Dextera Surgical, Grena, MID, Silex Medical