Technavio's latest market research report on the global sleeve gastrectomy devices market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technaviodefines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global sleeve gastrectomy devices market from 2017-2021. (Graphic: Business Wire)
The increasing demand for MI procedures in outpatient facilities is one of the major factors driving the growth of the market. The demand for MI bariatric surgeries such as sleeve gastrectomy has increased in the market because of the rising incidence of obesity and metabolic conditions such as Type-2 diabetes. There is an increasing demand for sleeve gastrectomy devices in the market due to better clinical effectiveness.
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The three emerging market trends driving the global sleeve gastrectomy devices market according to Technavio research analysts are:
- Growing use of robotic systems in sleeve gastrectomy procedures
- Rise in medical tourism
- Introduction of touch surgery simulations in emerging markets
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Growing use of robotic systems in sleeve gastrectomy procedures
The surgical procedures were revolutionized by Laparoscopy, which is an MI procedure. This procedure reduces the hospital stay, recovery time, and postoperative pain. Compared to the other techniques, robotics allows precise movement of instruments and gives a better view of the area. Therefore, surgeons often use them to perform complicated MI procedures. As a result, traditional open surgeries and bariatric surgeries are being increasingly replaced by robotic surgeries. Owing to the huge size of the liver, thick abdominal wall, and high-risk anesthesia, patients with high BMI are difficult to manage. There is a lot of effort involved in performing the procedure as the thick abdominal wall exerts a high torque on the instruments.
According to Srinivas Sashidhar, a lead analyst at Technavio for orthopedics and general medical devices, "The high precision manipulation, increasing proficiency, and reducing physiological tremor in patients can be accomplished by robotic surgery. Fine tissue dissection is assisted by the three-dimensional view of the abdominal area with the help of robotic system."
Rise in medical tourism
In the global sleeve gastrectomy devices market, medical tourism is one of the drivers with the most potential. The demand for medical tourism in the market is rising due to the high procedure cost of sleeve gastrectomy procedures in developed countries such as the US, Germany, France, and Canada. Developing economies such as India, Italy, and Thailand are generating high revenues from medical tourism. When compared to the other bariatric procedures such as gastric bypass surgical procedures, the sleeve gastrectomy procedures are low cost.
"In emerging countries such as India, Brazil, Mexico, Thailand, and Singapore, sleeve gastrectomy procedures are performed at a lower cost. Therefore, patients visit these countries for such surgeries. The patients can save up to 45% expenses, even after the payment of medical and miscellaneous expenses. The market growth is boosted owing to the presence of medical tourism organizations that help people to connect with various bariatric surgery specialists from different countries," says Srinivas.
Introduction of touch surgery simulations in emerging markets
To develop advanced devices that increase process efficiency, vendors are engaging in collaborations. Ethicon, a subsidiary of Johnson Johnson, collaborated with Touch Surgery. They teamed-up to develop Touch Surgery Simulations for laparoscopic sleeve gastrectomy procedures. This is one of the applications that facilitate the monitoring of surgeries using phones and iPads. Only developed countries such as the US, have used the simulation application along with gastric positioning systems.
In emerging economies, the medical tourism market is growing rapidly due to the improvement in process efficiency and high focus on patient care. The application is not intended to be used as a surgical training guide. Due to the enhanced focus on process and patient care, the success rate of sleeve gastrectomy procedures is expected to increase.
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