Global bariatric device market
Bariatrics is the science which deals with the treatment of people who have extreme obesity and also its prevention. According to the WHO, people who have a BMI greater than 30 are under obese and those having a BMI greater than 40 as severely obese. Compared to non- bariatric people, the life span of bariatric population may be reduced by as much as 10-15 years. They are also more likely to chronic illness, including hypertension, cardiac disease, diabetes, respiratory disease, skin diseases, stress incontinence, certain cancers and gallbladder disease. The WHO has described the obesity problem worldwide as one of the world’s most significant health problems. Bariatric devices based treatment is hence a key solution to overcome this problem.
Bariatric surgeries can be broadly segmented as minimally invasive and non-invasive based on the type of procedures performed globally. The majority of the procedures performed are invasive but cause minimal harm to the skin. Currently non-invasive surgeries are low in number and are expected to grow in future. Non-invasive surgeries cause less damage to the skin and are performed at minute risks. The non-invasive market is expected to grow at a CAGR of 17% during the forecast period of 2014 – 2019. To browse full table of contents click the below link:http://industryarc.com/Report/162/bariatric-devices-companies-market.html
Gastric bypass is currently the most common technique performed globally and is also known as the gold standard procedure for weight-loss procedure. The global market for gastric bypass accounts for 83% followed by gastric banding and sleeve gastrectomy for 12% and 5% respectively. However the market for sleeve gastrectomy is expected to increase gradually as it is gaining popularity among the patients.
Irregular eating habits, heredity, diseases or disorders and inactive lifestyles are some of the key factors that cause obesity. North America holds the largest market with respect to bariatric devices and number of obese people, followed by Europe and Asia. The trend is expected to be the same for the next few years leading to significant increase in the number of surgeries. The market size of bariatric device segments includes gastric bypass, gastric banding, laparoscopic devices, sleeve gastrectomy, laparoscopic devices and others in the market report researched by IndustryARC. The market for gastric banding is expected to decrease at a comparatively slow rate due to fall in demand for bands and staplers. Non-surgical therapies, side effects, cost of the surgery are few factors that restrain the market.
The above figure shows the value chain analysis of the bariatric device market. The topcompanies which manufacture the bariatric devices are Allergan, Covidien, and Ethicon etc. There is a need for the manufacturers to address the specifications needed by the patients as they manage their own care, consult with the surgeons, health care providers about the technology and best options by which devices can be customized according to the patients.
Manufacturing of the devices can also be outsourced in the cases where the company cannot afford own manufacturing. Some of the companies like Creganna-Tactx Medical, Forefront Medical Technology KMC Systems Incorporated provide this facility and offer devices used for laparoscopy and other bariatric procedures. Once the manufacturing is done, the device is sent to next phase where the individual spare parts are assembled. Injection molding, extrusion, packing and sterilizing processes are included in this step. Testing can also be performed at this phase.
After manufacturing the device is marketed to the global distributors and wholesalers who in turn supply the devices to the local and regional distributors. They can market on the company name or by their own private labels. Later the devices are brought by the hospitals offering bariatric surgeries which may be public or private, health care providers, individual patients, surgeon & nurses and even individual customers who are the end users of the products.
According to our discussions with industry experts it is expected that sleeve gastrectomy will grow at a rapid rate as the demand for trocars, dissectors, extruded tubes, etc is increasing. Expert insights show that the laparoscopic device is an emerging incision technology in the global bariatric device market.
In US, Medicaid, Medicare, federal and other government organizations reimburse approximately half the amount spent directly on medical expenditures and treatment of obesity. About 11% of Medicaid expenditure in US is spent on treating obese people and related medical conditions. IndustryARC analysis found that even private and public insurance cover the treatment of obesity or any other similar medical condition. These programs also provide medical consultation and nutritional assessment. Consultations based on behavioral and nutritional counseling can further reduce the risk of diabetes.
The global bariatric device market in 2013 was dominated by Allergan, Covidien, Ethicon, Olympus, Medtronic Inc. with market share of 23%, 19%, 17%, 14% and 9% respectively. They jointly dominated the market share of around 82%. Other players include C.R.Bard, Slimed, Spatz Surgicals, Metacure, USGI medical, Re-shape Medical, GI Dynamics, and Cousin Biotech etc. As per CDC data (Center for Disease Control and Prevention), the percentage of people having obesity is more in women when compared to men; taking this statistics into consideration manufacturers’ attention and response has been dragged. As such the market in the conventional, Lap band, torcars, gaspers, pouches; shears etc. is cornered by 3 to 5 top companies. These companies generally hold a market share of more than 40% compared to their competitors.
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