World News: 14:50 GMT Wednesday 11th July 2018. [Transparency Market Research via Globe Newswire via SPi World News]
Albany, NY, July 11, 2018 (GLOBE NEWSWIRE) -- According to the estimations of a recent business intelligence study by Transparency Market Research (TMR), the global will attain a value of US$1,744.1 million by the end of 2025, with the demand projected to increment at a strong CAGR of 9.3% during the forecast period of 2017 to 2025.
With increased disposable income, eating habits of urban populations have radically changed in the past few decades. The food and beverage industry has fruitfully tapped this opportunity but at the same time, led to a significant increase in obesity concerns. While these concerns had remained confined primarily within the developed countries, now the trend is quite evident in emerging economies too and as a result, surgeries that help in reducing extra fat are gaining demand.
As per the latest findings by the World Health Organization (WHO), the worldwide obesity has nearly tripled since 1975, and as of 2016, more than 1.9 billion adults were within the category of overweight, with 650 million of them considered obese. Healthcare infrastructure is improving across the emerging economies and medical facilities that perform bariatric surgeries are mushrooming, noticing the escalating demands. Additionally, the awareness among potential audiences has increased substantially too in the recent past thanks to the radical rise of social media. The analyst of the report also highlights the trend of minimally invasive procedures to add new revenue avenues to the bariatric surgery devices market. On the other hand, product recalls and post-operative complications are some of the restraints that are hindering the market from attaining greater profitability.
The analyst of the TMR report has foreseen an increasing number of participants to make a foray into the bariatric surgery devices market in the near future, and intensify the competition. However, some of the major players such as Ethicon Inc., Apollo Endosurgery Inc., EnteroMedics Inc., and Allergen Inc. are expected to retain their position of prominence on the back of their strong product portfolio and geographical presence. These players are regularly investing on the research and development of novel products and gaining approvals from the Food and Drugs Administration (FDA).
Based on device, the market for bariatric surgery devices has been segmented into assisting devices; trocars, closure, suturing, stapling, and others and implantable devices; gastric emptying, gastric bands, electrical simulation, gastric balloons, and others. End users studied under this report are bariatric surgery clinics, ambulatory surgical centers (ASCs), and hospital pharmacies. Geographically, North America currently dominates the demand, with most of it coming from the developed country of the U.S., wherein obesity is an apparent concern. However, vastly populated Asia Pacific is expected to increment demand at an above-average CAGR during the aforementioned forecast period.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Globe Newswire: 14:50 GMT Wednesday 11th July 2018
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