Key Strategies Adopted by the Bariatric Surgery Devices Market Key Players Like Ethicon (US), Medtronic (Ireland)

Illinois, United States, 2021-Jan-15 — /EPR Network/ — Players in this market compete with each other to deliver minimally invasive and non-invasive medical equipment which are of superior quality for weight-loss surgeries. In 2017, the bariatric surgery devices market was dominated by a few large players, namely, Ethicon (US), Medtronic (Ireland), Intuitive Surgical (US), and Apollo Endosurgery (US).

Product Launches & Approvals; Acquisitions; and Partnerships, Agreements, and Collaborations were the Key Strategies Adopted by Key Players Between 2015 And 2018. The players that adopted these strategies are Ethicon (US), Medtronic (Ireland), Intuitive Surgical (US), Apollo Endosurgery (US), ReShape Lifesciences (US), Aspire Bariatrics (US), and Olympus Corporation of the Americas (US).

Ethicon held the first position in the global bariatric surgery devices market in 2017. Its leading position in the market is attributed to its wide and diverse portfolio of minimally invasive instruments and equipment for bariatric surgery. The company’s product portfolio includes advanced stapling devices, suturing devices, and energy devices for gastric bypass and laparoscopic sleeve gastrectomy, the two most commonly performed procedures for weight loss. The company undertook organic and inorganic growth strategies to improve its market share. For instance, in 2017, the company launched its ECHELON FLEX GST System and PROXISURE advanced suturing system in order to strengthen its existing product portfolio. The firm also collaborated with Google’s Life Sciences’ team, in 2015, for evolving surgical robotics, thus, aiming to enhance surgical procedures.

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Medtronic was also a major contributor to the global bariatric surgery devices market in 2017. The company offers a comprehensive range of bariatric & metabolic health products through its Minimally Invasive Therapies Group. To maintain its leading position in the market and increase its customer base, the company mainly focuses on product launches and partnerships. For instance, in 2017, the firm launched its new Signia Stapling System, an addition to its surgical stapling segment. Similarly, the company partnered with American Well (US), in 2017, to enhance patient service by allowing them access to American Well’s telemedicine services on Medtronic Care Management Services video-enabled platforms.

Expected Revenue Growth:

[125 Pages Report] The Global Bariatric Surgery Devices Market was valued at USD 1.51 Billion in 2017 and is projected to reach USD 2.16 Billion by 2023, at a CAGR of 5.7%

Major Growth Boosters:

The growth of this market is driven by factors such as the growing obese population, increasing number of bariatric surgeries, and increasing preference for minimally invasive procedures.

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Regional Growth Analysis:

The geographic segments in this report include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Of these, the North American segment is expected to account for the largest share of the market in 2018. The large share in this region can be attributed to the rise in the number of bariatric surgeries and the presence of major key players in the North American bariatric devices market. Whereas, Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2018–2023. Factors such as the growing adolescent and adult population, increasing number of bariatric surgeries, rapidly rising co-morbidities such as diabetes, and government initiatives to curb obesity are expected to drive market growth during this period.