European Bariatric Surgery Market - Growth, Trends and Forecasts (2017 - 2022)
The Europe bariatric devices market is estimated at USD 585 million in 2016 and is projected to reach USD 1112 million by 2021, growing at a CAGR of 13.7% during the forecast period. The European bariatric surgery market has observed decent growth over the years and is expected to grow further. According to a report submitted by WHO on European Modelling Obesity Project, obesity is increasing at an alarming rate in Europe. This condition is a gateway to many other diseases like diabetes, cardiovascular disorders, cancer, etc. With a growing proportion of obese patients, the world over, various government initiatives are also on the rise to tackle this condition. Moreover, effective and therapeutic management of obesity and other related secondary disorders is the need of the hour. There is an increasing insurance coverage, by both public and private institutions, anticipating the future potential of the market. Bariatric surgery is currently considered the most effective treatment for morbid obesity; it results in greater improvement in weight loss and obesity-related comorbidities when compared to non-surgical interventions, regardless of the type of surgical procedure. Weight loss is achieved by reducing the size of the stomach with a gastric band or by removing a portion of the stomach (sleeve gastrectomy or biliopancreatic diversion with duodenal switch), or by resecting and re-routing the small intestine to a small stomach pouch (gastric bypass surgery). Market Dynamics Drivers The market is driven by factors like an increase in the number of obesity patients and innovations such as minimally invasive technology, which is gaining popularity. Restraints Post-surgical complications and high costs associated with the surgery are restraining the bariatric surgery device market. Market Segmentation The market can be broadly segmented into - Procedures Devices Geography The different types of procedures include adjustable gastric banding, vertical sleeve gastrectomy (VSG), Roux-en-Y gastric bypass (RYGB) and biliopancreatic diversion with a duodenal switching. By devices, the market is segmented into stapling devices, gastric bands, gastric balloons, and others. The market has also been segmented by geography into Germany, France, the UK, Italy, Spain, Scandinavia, and BENELUX. An increase in bariatric surgeries for obese adolescents is a major opportunity for the market players. However, lack of insurance coverage in many European countries is a challenge to overcome. The major companies dominating this market for its products are - Allergan, Inc. EndoGastric Solutions, Inc. EnteroMedics, Inc. Ethicon Medtronic Olympus Corporation Key Deliverables Market analysis for the Europe bariatric surgery market, with region specific assessments and competition analysis. Market definition along with the identification of key drivers, restraints opportunities and challenges. Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale. Extensively researched competitive landscape section with company profiles of key players with the analysis of their current strategic interests and key financial information. Identification and analysis of the macro and micro factors that affect the Europe bariatric surgery market. Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped.