The major factors contributing to the growth of the bariatric surgery market include increase in obesity among people, rising burden of diabetes and heart diseases and rapid advancements and innovations in the devices. Overweight and obesity is a major public health issue and a leading risk factor for ill-health in Australia. According to Australian Institute of Health and Welfare (AIHW), around 2 in 3 (67%) adults were overweight or obese in 2017–18, out of which 36% were overweight but not obese and 31% were obese. Being overweight or obese is associated with an increased risk of a number of common diseases and causes of premature death, including diabetes and cardiovascular disease. Hence, as the prevalence of obesity is increasing, the bariatric surgeries will also rise, which is expected to propel the market growth.
Key Market Trends
Closure Device Segment is Expected to Show Better Growth in the Forecast Years
Based on Assisting Devices, the market is segmented into Suturing Device, Closure Device, Stapling Device, Trocars and Other Assisting Devices. Closure devices are expected to register high growth, as they are widely used in minimally invasive surgeries that require immediate closure of very small incisions made at the time of surgical procedures. The number of minimally invasive surgical procedures is rising each year and this is helping the market to grow. Closure devices are used for reconnecting tissues during surgical procedures and for closing incisions made by trocars. The laparoscopic port closure device successfully closes port sites in obese patients undergoing bariatric procedures and surgeries. Therefore, the rising number of laparoscopic procedures, along with rising obese population is expected to drive the market in the forecast period.
The Australia bariatric surgery market is moderately competitive and consists of several major players. With the rising patient awareness and increasing obese population, few other smaller players are also expected to enter the market in the coming years. The major players into the Australia bariatric surgery market are Apollo Endosurgery Inc., B. Braun Melsungen AG, Conmed Corporation, Intuitive Surgical Inc., Johnson and Johnson, Medtronic PLC, Olympus Corporation and The Cooper Companies, Inc.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Burden of Diabetes and Heart Diseases
4.2.2 Increase in Obesity Among People
4.2.3 Rapid Advancements and Innovation
4.3 Market Restraints
4.3.1 High Cost of Surgery
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Device
5.1.1 Assisting Devices
18.104.22.168 Suturing Device
22.214.171.124 Closure Device
126.96.36.199 Stapling Device
188.8.131.52 Other Assisting Devices
5.1.2 Implantable Devices
184.108.40.206 Gastric Bands
220.127.116.11 Electrical Stimulation Devices
18.104.22.168 Gastric Balloons
22.214.171.124 Gastric Emptying
5.1.3 Other Devices
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Apollo Endosurgery Inc.
6.1.2 B. Braun Melsungen AG
6.1.3 Conmed Corporation
6.1.4 Intuitive Surgical Inc.
6.1.5 Johnson and Johnson
6.1.6 Medtronic PLC
6.1.7 Olympus Corporation
6.1.8 The Cooper Companies, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.