TORONTO--(BUSINESS WIRE)--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the European market for laparoscopic devices is potentially extremely large, but will not grow substantially until the economic and reimbursement situation improves. Even with current limitations, however, the European market for laparoscopic devices will grow an average of three percent annually through 2016.
Some specific procedures will show stronger growth. Since nearly 50 million Europeans were estimated to have a BMI of 30 or above in 2011, demand for bariatric procedures will grow. Moreover, the uptake of bariatric surgery is early in its adoption curve compared to the United States, and procedure volumes are already growing quickly as a result.
Once the European economy recovers, the main force retarding adoption of these devices will be reimbursement rates. For example, despite the fact that France has low obesity rates compared to some other European nations, its favorable reimbursement rates resulted in the highest number of bariatric surgeries in 2011. To increase reimbursement, bariatric surgery will need to show cost-effectiveness as a treatment for type 2 diabetes and other obesity-related co-morbidities such as cardiovascular disease. To this end, physicians, researchers and industry leaders increasingly classify bariatric surgery as metabolic surgery to position it for wider applicability.
“This is a market with a lot of potential,” said MRG Analyst Lexie Code. “We will be seeing a lot of changes over the next few years, and it will take some detailed analysis to predict trends. To that end, we’ve broken out individual procedure forecasts for the three main types of bariatric surgery in our new European Markets for Laparoscopic Devices report. The new categories are gastric band, sleeve gastrectomy and other bariatric procedures, which include gastric bypass, biliopancreatic diversion, and vertical banded gastroplasty. We also discuss competing obesity treatments in detail and have added coverage of Spain in addition to the other big four EU countries.”
Because devices from nearly every laparoscopic device segment can potentially be used during bariatric surgery, all of these competitive groups stand to benefit from the high growth potential in this segment.
Millennium Research Group’s European Markets for Laparoscopic Devices 2012 report includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for internal closure devices, access devices, hand instruments, gastric bands, suction/irrigation devices, laparoscopes and hand assist devices sold in France, Germany, Italy, Spain and the United Kingdom.
About Millennium Research Group
Millennium Research Group (www.MRG.net),
a Decision Resources Group company (www.DecisionResourcesGroup.com),
is the global authority on medical technology market intelligence and
the leading provider of strategic information to the healthcare sector.
The company provides specialized industry expertise through multiclient
market research, ongoing Marketrack™ projects, customer loyalty
tracking, facility-level procedure forecasting, and customized solutions.
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