The Europe bariatric devices market is estimated at USD 585 million in 2016 and is projected to reach USD 1112 million by 2021, growing at a CAGR of 13.7% during the forecast period.
The European bariatric surgery market has observed decent growth over the years and is expected to grow further. According to a report submitted by WHO on European Modelling Obesity Project, obesity is increasing at an alarming rate in Europe. This condition is a gateway to many other diseases like diabetes, cardiovascular disorders, cancer, etc. With a growing proportion of obese patients, the world over, various government initiatives are also on the rise to tackle this condition. Moreover, effective and therapeutic management of obesity and other related secondary disorders is the need of the hour. There is an increasing insurance coverage, by both public and private institutions, anticipating the future potential of the market.
Bariatric surgery is currently considered the most effective treatment for morbid obesity; it results in greater improvement in weight loss and obesity-related comorbidities when compared to non-surgical interventions, regardless of the type of surgical procedure. Weight loss is achieved by reducing the size of the stomach with a gastric band or by removing a portion of the stomach (sleeve gastrectomy or biliopancreatic diversion with duodenal switch), or by resecting and re-routing the small intestine to a small stomach pouch (gastric bypass surgery).
The market is driven by factors like an increase in the number of obesity patients and innovations such as minimally invasive technology, which is gaining popularity.
Post-surgical complications and high costs associated with the surgery are restraining the bariatric surgery device market.
The market can be broadly segmented into -
The different types of procedures include adjustable gastric banding, vertical sleeve gastrectomy (VSG), Roux-en-Y gastric bypass (RYGB) and biliopancreatic diversion with a duodenal switching. By devices, the market is segmented into stapling devices, gastric bands, gastric balloons, and others. The market has also been segmented by geography into Germany, France, the UK, Italy, Spain, Scandinavia, and BENELUX. An increase in bariatric surgeries for obese adolescents is a major opportunity for the market players. However, lack of insurance coverage in many European countries is a challenge to overcome.
The major companies dominating this market for its products are -