North America Bariatric Surgery Market - Growth, Trends, and Forecast (2020 - 2025)

North America Bariatric Surgery Market - Growth, Trends, and Forecast (2020 - 2025)

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 North America bariatric surgery devices market. The Centers for Disease Control and Prevention statistics showed a significant increase in obesity prevalence among adults aged 20 and over. The prevalence rate of obesity increased from 37.7% to 42.4% and the prevalence of severe obesity increased from 7.7% to 9.2% between 2013 to 2018. ​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 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.

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 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 TroClose1200, etc.

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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1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Obesity Patients
4.2.2 Prevalence Rate of Type-2 Diabetes and Heart Diseases
4.2.3 Public Awareness on Bariatric Surgery
4.2.4 Government Initiatives to Curb Obesity
4.3 Market Restraints
4.3.1 High Cost of Surgery
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Device
5.1.1 Assisting Devices
5.1.1.1 Suturing Device
5.1.1.2 Closure Device
5.1.1.3 Stapling Device
5.1.1.4 Trocars
5.1.1.5 Other Assisting Devices
5.1.2 Implantable Devices
5.1.2.1 Gastric Bands
5.1.2.2 Electrical Stimulation Devices
5.1.2.3 Gastric Balloons
5.1.2.4 Gastric Emptying
5.1.3 Other Devices
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Medtronic PLC
6.1.2 Ethicon Inc. (Johnson and Johnson)
6.1.3 Apollo Endosurgery Inc.
6.1.4 Aspire Bariatrics Inc.
6.1.5 Intuitive Surgical Inc.
6.1.6 B. Braun Melsungen AG
6.1.7 Olympus Corporation
6.1.8 The Cooper Companies
6.1.9 Conmed Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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