AI-backed computer algorithms (more sophisticated algorithms), better known as chatbots, are capable of conducting meaningful conversations (human-like) through option-based, textual, or voice-based input. The basic advantage of these chatbots would be smooth sailing on the part of patients despite healthcare personnel being out of reach at times (due to factors like non-operation hours, disaster-induced overloads over the calls, and likewise). This would be the functioning of the Minimally Invasive Bariatric Surgery Equipments Market in the next 10 years.
Obesity is a complex disease caused by many factors. It is not only due lack of willpower but involves combination of genetic, environmental, cultural and individual factors. Obesity is one of the leading cause of various chronic diseases such as breathing problems, CVD, high blood pressure and Diabetes mallitus.
Considering the fact, obesity is one of the most prevalent and imperil health disorder that has increased awareness among people about minimally invasive bariatric surgery and its equipment. Minimally invasive bariatric surgery is also known as laparoscopic bariatric surgery is the treatment option widely accepted and performed by the doctors for patients whose BMI is extremely high mostly above 40.
Minimally invasive bariatric surgery equipment’s includes the use of various types of devices during the procedure. These equipment includes gastric band, gastric bypass, adjustable gastric band, sleeve gastrectomy and biliopancreatic diversion.
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The major factor attributing the demand of minimally invasive bariatric surgery equipment’s are, increase in number of obese population, sedentary lifestyle and increasing demand for minimally invasive weight loss surgery. Increasing prevalence of chronic disease will drive the minimally invasive bariatric surgery equipment’s market.
Furthermore, Increasing preference towards junk food, growing food industry and physical inactivity is leading to unhealthy and sedentary life style leading to boost the market for minimally invasive bariatric surgery equipment’s over the forecast period.
Additionally, people are more concern about their physical appearance this will attract the pool of people to undergo for minimally invasive bariatric surgery procedure. Moreover, rise in disposable income and technological advancement will further contribute to drive minimally invasive bariatric surgery equipment’s market over the coming years.
However, high cost associated with various surgical devices, product recall and post-operative complications of minimally invasive bariatric surgery equipment’s will limit the market growth.
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Segmentation
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The minimally invasive bariatric Surgery Equipment’s market is expected to show a robust growth over the forecast period due to increased awareness amongst people regarding the treatment option for the same. According to World Health Organization (WHO) in 2016, there are 1.9 billion adults who found to be over weight and 13% of them were obese.
Most of the global population live in countries are overweight and or obese. According to American Society for Metabolic and Bariatric Surgeries the total number of bariatric surgeries performed in U.S. has raised to 196,000 in 2015 that was 158,000 in the year 2011.
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In February 2018, the intragastric balloon devices were recommended devices used for bariatric surgery treatment according to American Society for Metabolic and Bariatric Surgery. The minimally invasive bariatric surgery device type segment is expected to hold the major revenue share during the forecast period due to increase awareness and undergoing for invasive bariatric procedures.
Geographically, the global weight monitoring device market is segmented into regions such as Latin America, Europe, North America, South Asia, East Asia Middle East & Africa and Oceania. North America is expected to hold the major market share followed by European region due to more number of obese population and technological advancement in these countries.
Latin America will show significant demand due to the regional government initiative towards various surgical equipment’s in countries like Brazil and Mexico. Countries like India and China are the emerging market for minimally invasive bariatric surgery equipment’s and is expected to grow substantially over the forecast period. Middle East and Africa is the least lucrative region due to treatment cost barrier and lack of adequate health infrastructure.
Some of the major key players competing at the global level across the value chain include Medtronic Plc, Apollo Endosurgery Inc., Aspire Bariatrics Inc., Ethicon Inc., ReShape Lifesciences, Olympus Corporation, Integra Life Sciences Holding Corporation, Intuitive Surgical, Allergan, Covidien Plc, Silimed Ltd., Silimed Ltd., and some others.
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