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Gastric Bands Market Segmented By Product Type such as Adjustable Gastric Bands and Non-Adjustable Gastric Bands having Diagnostic Centre, Hospitals, Clinics as End Users
According to the latest research by Persistence Market Research, Gastric Bands Market is set to experience 4.5% growth during the year 2021-2031. The growth of the gastric band market is attributed due to growing awareness about obesity treatments globally and advancements in MI proceedings along with their efficacy.
Furthermore, bariatric surgery is done with the help of a laparoscope. Which further helps in reducing hunger, and also helps in the reduction of body weight.
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The major factor leading towards the positive growth of the gastric band devices market is the growing prevalence of obesity and diabetes, advanced healthcare structure, growing demand for laparoscopic bariatric surgeries and growing medical tourism in various developing countries.
Furthermore, sedentary and changing lifestyles and various technological advancements in the medical sector are some major factors responsible for the growth of the gastric band devices market.
Moreover, various product development and the growing number of FDA approvals are attributed to offering lucrative opportunities for the gastric band devices market over the forecast period.
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Get a Customized VersionHigh installation cost and limited favourable reimbursement policies are considered to be the major restraining factors expect to pull down the market growth over the forecast period. Furthermore, the availability of alternatives expects to impede the market growth.
The less rate of weight loss with the usage of gastric bands as compared to other surgical procedures is hampering the market growth. Moreover, the gastric band requires foreign raw materials to remain working in the body, which is considered to be one of the factors hampering the market growth.
U.S. and Canada are expected to account for the highest share and therefore expects to dominate the gastric bands market. This is due to the increasing demand for minimally invasive surgical procedures for weight loss, the growing importance of the healthcare sector. The rise in the population suffering from chronic diseases expects to influence the market growth. Therefore, the demand for the gastric band is rapidly increasing in this region.
For instance, according to the American Society for Metabolic and Bariatric Surgery (ASMBS) nearly 216,000 bariatric surgery took place in the U.S. out of which 3.4 % were related to gastric bands.
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The European market for Gastric Bands is estimated to grow at a considerable rate during the forecast period. This surge in growth is due to the growing expenditure of people spending in reducing obesity, weight loss and diabetes.
Moreover, growing awareness about various treatment options for weight management is the major factor driving the regional growth of the gastric bands market.
Some of the key players operating in the Gastric Bands Market are
Manufacturers in the market focus on carrying out certain strategic activities such as acquisitions and mergers, expansion, product launches, etc.
By Product Type
By End-Use
By Region
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
