Gastric Buttons Market Dynamics and Analysis by 2031
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.
Gastric Buttons Market Analysis
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.
Gastric Buttons Market Overview
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.
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Gastric Buttons Market: Strategic Insights
Market Size Value in US$ 400.0 million in 2022 Market Size Value by US$ 617.9 million by 2028 Growth rate CAGR of 7.5% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Gastric Buttons Market: Strategic Insights
| Market Size Value in | US$ 400.0 million in 2022 |
| Market Size Value by | US$ 617.9 million by 2028 |
| Growth rate | CAGR of 7.5% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Gastric Buttons Market Drivers and Opportunities
Rising Geriatric Population
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.
Untapped Potential of Emerging Economies
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
Gastric Buttons Market Report Segmentation Analysis
Key segments that contributed to the derivation of the gastric buttons market analysis are offerings, usage, and end users.
- Based on offering, the gastric buttons market is segmented into products and accessories. The products segment held the most significant market share in 2023.
- Based on usage, the gastric buttons market is bifurcated into enteral nutrition, medications, fluids, and others. The enteral nutrition segment held the most significant market share in 2023.
- Based on end users, the gastric buttons market is segmented by hospitals, clinics, and others. The hospital's segment held the largest market share in 2023.
Gastric Buttons Market Share Analysis by Geography
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.
Gastric Buttons Market Report Scope
Gastric Buttons Market News and Recent Developments
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:
- Phathom Pharmaceuticals, Inc., a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the FDA has accepted for review the company’s NDA for VOQUEZNA (vonoprazan) as a daily treatment of heartburn associated with Non-Erosive gastroesophageal reflux disease (GERD) in adults. (Source: Phathom Pharmaceuticals, Inc., Company Website, December 2023)
Gastric Buttons Market Report Coverage and Deliverables
The “Gastric Buttons Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Gastric buttons market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Gastric buttons market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Gastric buttons market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the gastric buttons market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offerings, Application, Usage, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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