Sleeve gastrectomy is a surgical weight loss methodology that removes some part of stomach and limits the measure for nourishment that can be consumed. Similar to other metabolic surgeries, it promotes weight reduction by changing hormonal signs between the stomach, brain, and liver. Clinical study shows that the surgery, significantly reduces weight, as well as improves blood pressure. Gastric sleeve surgery may be an option for one who are quite obese and have not been able to shed weight through diet and exercise.
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Based on device type, the global sleeve gastrectomy devices market can be segmented into assisting devices and implantable devices. Assisting devices can be further categorizes into suturing devices, closure devices, stapling devices, and others. High acceptance of suturing devices by surgeons, is attributed to the high growth of the segment. On the other hand, the closure devices segment is likely to expand significantly at a high CAGR, these are widely used in minimally invasive surgeries that need immediate closing of very small opening created at the time of surgical procedure Implantable devices can be classified into gastric bands, and gastric balloons. The gastric bands sub- segment holds the leading share, these have been approved by various regulatory agencies and well accepted among physicians. In the terms of end-user, the sleeve gastrectomy devices market can be divided into hospitals, and clinics. Hospitals was the leading segment of the market due to increasing in acceptance of minimally invasive surgeries. Additionally, hospitals are preferred by both patients and physicians as they are well modernized with all the types of equipment for handling different conditions. Rise in prevalence of diseases related to obesity and awareness about obesity treatments and advances in MI (Minimally invasive) procedures are the major factors that likely to drive the sleeve gastrectomy devices market during the forecast period. Moreover, demand for laparoscopic surgery is increasing, due to minimal incision and low cost burden on patients in emerging economies. However, lack of reimbursement, and complication associated with the surgical procedure are expected to hamper the market growth.
In terms of region, the global sleeve gastrectomy devices market can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America is the leading regional market for sleeve gastrectomy devices due to increase in obesity and associated diseases such as diabetes and sleep apnea. Inactive lifestyle and rise in intake of junk food have been the major factors for increase in obesity. To address this, large number of individuals are undergoing sleeve gastrectomy for weight loss to avoid further complications. Europe is also a significant market for sleeve gastrectomy devices due to a well-developed healthcare infrastructure and increased spending on health. However, the sleeve gastrectomy devices market in Asia Pacific is expected to witness strong growth during forecast period.
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Economic growth in countries such as China and India has led to increased spending on convenience foods, leading to lifestyle diseases such as obesity. This, in turn, has led to high demand for gastrectomy. Technological advancements, increased per capita income, rise in expenditure on personal care and growing incidences of diseases related to obesity are likely to augment the sleeve gastrectomy devices market in Middle East & Africa during the forecast period.
Major players operating in the global sleeve gastrectomy devices market are Intutive Surgical Inc., Apollo Endosurgery Inc., TransEnterix Inc., Cousin Biotech, EnteroMedics Inc., Medtronics Plc., Agency for Medical Innovations, Aspire Bariatrics Inc., Mediflex Surgical Products. and Ethicon Inc.,