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The bariatric surgery devices market was valued at $1.2 billion in 2011 and is forecast to grow at a compound annual growth rate (CAGR) of 9.7% to be worth a market value of $2.3 billion by 2018.
Bariatric surgery includes a variety of procedures performed on people who are obese. Weight loss is achieved by reducing the size of the stomach with an implanted medical device (gastric banding) or through removal of a portion of the stomach.
The rapidly rising cases of bariatric surgery among adolescents mean that the market is only set to reach greater heights. Despite the debate surrounding the safety and long-term efficacy of bariatric surgery in adolescents, a study published in The American Surgeon during November 2011 claimed that the mean number of adolescent bariatric procedures performed per year in the US increased from 61.8 during 2002-2006 to 113.3 during 2007-2009.
While current economic conditions continue to restrain market growth, the US market for bariatric surgical devices is expected to exhibit relatively strong growth over the next 5 years. Valued at more than $345 million in 2010, the US bariatric surgery devices market is expected to increase at a CAGR of 6.6%, with sales reaching more than $500 million in 2016.
European countries are seeing a decline in the number of gastric banding procedures being conducted, while in the US such surgeries are on the rise.
The bariatric surgery devices market was led by Ethicon Endo-Surgery in 2011 with a share of 24%. This leadership can be attributed to the company's technological innovation capabilities, diversified global presence, extensive bariatric surgery devices portfolio, and a strong financial performance. Covidien and Allergan followed in second and third, with respective shares of 21% and 16%.
For more information on the bariatric surgery devices market, see the latest research: Bariatric Surgery Devices Market
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