Minimally invasive procedures are now being preferred by the healthcare provider and the patients. Gastric bypass is one of the bariatric surgical procedures used to treat obesity across the globe. Additionally, the progress of medical device industry in developed regions across the globe also influences the demand for surgical devices. Diabetes and obesity are the major risk factors for the cardiovascular disease, whose prevalence is found to be increasing from last few years.
The Global Gastric Bypass Market is expected to grow at a CAGR of 6.1 % during the forecast period 2017-2023.
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Some of key the players in the market are Medtronic (U.S.), Intuitive Surgical Inc. (U.S.), TransEnterix Inc. (U.S.), ALLERGAN (Republic of Ireland), USGI Medical Inc. (U.S.), Cousin Biotech (France), GI Dynamics Inc. (U.S.), Johnson & Johnson Services, Inc. (U.S.), Mediflex Surgical Product (U.S.), and others.
The Global Gastric Bypass Market is segmented on the basis of type, indication, and end user. On the basis of type, it is segmented into endoscopic sleeve gastroplasty and intragastric balloon. Based on the indication, it is segmented into obesity, gastroesophageal reflux disease, heart disease, high blood pressure, type 2 diabetes, and others. On the basis of the end user, it is segmented into hospitals & clinics, surgical centers, and others.
The Americas dominate the global gastric bypass market owing to the technological advancement in the field of medical devices, a huge patient population with obesity and diabetes and increasing healthcare spending. As per the Obesity Society, in the U.S., in 2014, 28.1% people were obese. The obesity prevalence ranged from 30.3% for men and women aged 20-39 years to 39.5% and 35.4%, respectively, for men and women aged 40-59 years and ages 60 and over.
Europe holds the second largest share of the global gastric bypass market as result of increasing focus of various government agencies on the treatment of chronic diseases. Additionally, the high prevalence of diabetes and increasing government support for research & development influences the market growth. Moreover, rising awareness about gastrointestinal diseases among the people also accelerates the market growth. According to the World Health Organization (WHO), about 60 million European live with diabetes and the prevalence of diabetes is relatively high among people over 25 years.
The Asia Pacific is expected to be a fastest growing market for gastric bypass owing to increasing demand for minimally invasive procedures and huge geriatric population. Japan holds the major share of the Asia Pacific market due to the availability of technologically advanced medical devices and huge healthcare spending. Moreover, increasing healthcare expenditure and the government’s initiatives for research & development projected to drive the market in China and India over the forecasted period.
In the Middle East & Africa, the market exhibits steady owing to low technology penetration in developing regions, and focus on primary care services. The United Arab Emirates (UAE), Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.
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