The gastric buttons market size is projected to reach US$ 5.27 billion by 2031 from US$ 3.14 billion in 2023. The market is expected to register a CAGR of 9.0% during 2023–2031. Growing preference for low-profile tubes will likely remain a key trend in the market.
Key factors driving the market growth include the increasing prevalence of cancer, neurological disorders, diabetes, and gastrointestinal diseases and the rising geriatric population. Furthermore, the untapped potential of emerging economies is a key opportunity for the gastric buttons market players.
Diabetes is a life-threatening chronic disease with no functional cure. Diabetes can lead to various complications in different body parts and increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are the major complications associated with diabetes. As there is a significant increase in diabetes cases worldwide, it results in life-changing complications among the population. According to the International Diabetes Federation (IDF), in 2017, 46 million diabetic patients were reported in North America, which is expected to reach 62 million in 2045.
The geriatric population has been rising significantly worldwide. The rise in geriatric population in developed countries, such as the US, the UK, Canada, and Japan, and developing countries, such as China, India, and South Korea, is driven by the modernization of healthcare facilities and improvements in healthcare services, which has boosted the life expectancy in these countries. An increase in life expectancy is leading to a rising geriatric population globally. According to the data presented by the World Health Organization (WHO) in February 2018, the geriatric population is estimated to rise from 12% in 2015 to 22% by 2050.
Sales of gastric buttons are predicted to rise in response to the need for improved delivery methods, enteral nutrition (EN), and enteral feeding in home care settings. By strengthening their production capabilities and diversifying their distribution networks, major market participants are gaining a greater foothold in new countries. For major producers of stomach buttons, emerging markets in South Korea, Mexico, Brazil, and India are anticipated to present development prospects in the years to come. This can be linked to several factors, including an aging population, a high incidence of neurological disorders, cancer, diabetes, and gastrointestinal ailments, an increase in disposable income, better infrastructure for healthcare, and an increase in medical tourism in these nations. Due to comparatively less restrictive rules, Asia Pacific has developed into a center that is flexible and hospitable to business. The majority of participants are turning their attention to emerging economies as the US and European markets mature. Upgrading the newest technologies in emerging nations is mostly dependent on large investments made in health and life sciences research. This will therefore reinforce the propensity to employ gastric buttons
Key segments that contributed to the derivation of the gastric buttons market analysis are offerings, usage, and end users.
The geographic scope of the gastric buttons market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
In North America, the US is the largest market; the US gastric buttons market holds the largest share in the North American region. The rising prevalence of chronic diseases is likely to favor market growth. Chronic diseases such as cancer, stroke, neurological disorders, and paralysis are the leading causes of disability and death in the US. Six out of ten Americans, according to the National Center for Chronic Disease Prevention and Health Promotion, have at least one chronic illness, including diabetes, cancer, heart disease, and stroke. Growing spending on long-term medical issues will probably support market expansion. Furthermore, the US spent a total of US$3.7 trillion on treating chronic illnesses in 2020 or almost 19.6% of its GDP.
The regional trends and factors influencing the Gastric Buttons Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Gastric Buttons Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 3.14 Billion |
| Market Size by 2031 | US$ 5.27 Billion |
| Global CAGR (2023 - 2031) | 9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Offerings
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Gastric Buttons Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Gastric Buttons Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Gastric Buttons Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the gastric buttons market are listed below:
The “Gastric Buttons Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America dominated the gastric buttons market in 2023
Key factors driving the market growth include the increasing prevalence of cancer, neurological disorders, diabetes, and gastrointestinal diseases and a rising geriatric population. However, the complications associated with gastric buttons are expected to hamper the market growth during the forecast period.
Growing preference for low-profile tubes will likely remain a key trend in the market.
Avanos Medical Inc, Medicina Ltd, Applied Medical Technology Inc, danumed Medizintechnik GmbH, Boston Scientific Corp, QMD, Nutricia Ltd, Shin-Etsu Polymer Europe BV, Fresenius Kabi AG, and Vygon (UK) Ltd.
The market is expected to register a CAGR of 9.0% during 2023–2031.