Johnson & Johnson (US), Medtronic plc (Ireland) are Leading Players in the Bariatric Surgery Devices Market
The bariatric surgery devices market is valued to reach USD 2.4 billion by 2027 from an estimated USD 1.9 billion in 2022, at a CAGR of 5.4% during the forecast period. The bariatric surgery devices market is driven by the rising obesity cases worldwide and subsequent increase in bariatric surgeries coupled with the growing demand for minimally invasive surgeries.
The top players in bariatric surgery devices market are Johnson & Johnson (US), Medtronic plc (Ireland), Intuitive Surgical, Inc. (US), Apollo Endosurgery, Inc. (US), and Olympus Corporation (Japan). These market players have invested in organic strategies such as product launches and regulatory approvals and inorganic growth strategies such as partnerships and acquisitions to maintain their market shares
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In 2021, Johnson & Johnson (US) held the leading position in the bariatric surgery devices market. The company has maintained a leading position in the market through its strong distribution networks across North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. Johnson & Johnson has a strong distribution network across the globe. This helps in insulating its business from demand fluctuations in various geographies. The company adopts organic and inorganic growth strategies to increase its dominance in this market. Johnson & Johnson focuses on strategies such as product launches, acquisitions, and partnerships to garner a larger market share. For instance, in June 2021, the company launched the ENSEAL X1 Curved Jaw Tissue Sealer, an advanced bipolar energy device. In line with this, the company signed a strategic partnership with Microsoft (US) to further enable its digital surgery solutions. Such developments have helped the company significantly expand its product line and enhance its visibility in the bariatric surgery devices market.
In 2021, Medtronic plc (Ireland) accounted for the second-largest share of the bariatric surgery devices market. Its leading position in this market can be attributed to its strong global sales and distribution network, enabling it to effectively market its products in various countries. Also, Medtronic plc has increased its focus on R&D activities to develop unique and better products than its competitors. Its R&D investments to optimize its portfolio and capital allocation strategies help fuel its future growth and ability to remain competitive in the medical surgical segment. In addition, Medtronic’s strategies, which involve product launches and acquisitions, aiming to further strengthen its position in the bariatric surgery devices market. In February 2020, the company acquired Digital Surgery (UK). This acquisition will accelerate Medtronic’s strategy to provide AI and data in its laparoscopic and robotic-assisted surgery products.
Intuitive Surgical, Inc. (US) is the leading player in the bariatric surgery devices market in 2021. It has a wide geographic presence with a strong global distribution network. The company’s innovative pipeline, strong commercial presence, and ongoing expansion into higher-growth markets have helped strengthen its market presence. The company offers a strong suite of surgical robots—the da Vinci Xi Surgical System (with advanced instruments)— capable of performing complicated procedures. The company pursues both inorganic and organic growth strategies to sustain its leading position in the market. It is working towards strengthening its foothold in the market by engaging in specific regulatory approvals. For instance, in March 2020, the company received regulatory clearance in Japan to market its SynchroSeal instrument. In February 2020, the company received CE mark clearance for its SynchroSeal instrument. Similarly, in November 2019, the company received clearance from the US FDA for its SynchroSeal instrument for da Vinci X/Xi platforms.
Related Reports:
Bariatric Surgery Devices Market by Device Type (Minimally Invasive (Stapling, Suturing, Vessel Sealing Devices), Non Invasive), Procedure (Sleeve Gastrectomy, Gastric Bypass, Revision Surgery, Adjustable Gastric Banding), Region - Global Forecast to 2027
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