Bariatric Surgery Market Outlook
Bariatric Surgery Market is expected to reach USD 3282.26 Million by 2030 at CAGR of 8.80% during the forecast period 2022-2030. Bariatric surgery or weight loss surgery is used as one of the major treatment procedures for obesity. During this procedure, the size of the stomach is reduced by removing some part of the stomach or using a gastric band. Gastric bypass, sleeve gastrectomy, adjustable gastric band, and biliopancreatic diversion with a duodenal switch are most widely used equipment in bariatric procedures. Body Mass Index (BMI) plays an important role in determining whether a person is obese. Bariatric surgery is mostly recommended for the people with BMI above 40. It can be used to improve the health of the patients with obesity thereby reducing the risk of life-threatening diseases.
Obesity is one of the major health problems have increased the demand for gastric bypass across the globe. Diabetes and cardiovascular disease are the major diseases found to be prevalent among the obese population. The emergence of new technologies in bariatric surgery, increasing number of patients and growing demand for minimally invasive surgical procedures are the key drivers for the bariatric surgery market growth during the forecast period.
Rising prevalence of obesity and increasing demand for weight loss procedures are the major factors, which drive the growth of the market. Furthermore, the popularity of bariatric surgery for weight loss is found to be increasing in the developing nations across the globe, boosting the market growth.
Bariatric Surgery Market Segments
The bariatric surgery market is segmented on the basis of device, type, and end user.
On the basis of the device, the market is segmented into surgical stapler gastric bands, gastric balloons, gastric emptying systems, electrical stimulation systems, and others.
On the basis of the type, the bariatric surgery market is segmented into gastric bypass, sleeve gastrectomy, adjustable gastric band, biliopancreatic diversion with duodenal switch, and others.
On the basis of the end user, the market is segmented into hospital & clinics, surgical centers, and others.
Regional Analysis of Bariatric surgery Market
America is the largest bariatric surgery market and is driven by the availability of large number of surgical centers, growing awareness about obesity and its risk factors and technological advancement in laparoscopic bariatric surgery. North America market for bariatric surgery is the largest market followed by South America. Furthermore, obesity is one of the major health issues among the population in the U.S. thereby increasing the demand for surgical procedures. In South America, growth of healthcare sector and increasing use of medical devices for various surgical procedures boost the market growth. Centers for Disease Control and Prevention (CDC) reported that in 2014, more than one-third of the U.S. adults had obesity.
Europe Bariatric surgery market is driven by increasing number of surgical device manufacturers and distributors, the high prevalence of diabetes, and huge government funding available for research. Germany holds the largest market share followed by France and U.K. Factors contributing to the market growth in Germany are a concentration of key players in the market and focus on diabetes and obesity management.
In Asia Pacific, diabetes is one of the major chronic diseases creating an economic burden on the developing economies such as China and India. Availability of skilled healthcare professionals, i.e., surgeons, rising patient awareness regarding obesity, and growing geriatric population are the key factors contributing to the growth of the market. In India and China, increasing influence of western lifestyle, lack of physical activities and sedentary lifestyle of the working population are the major risk factors for obesity, thereby accelerating the market growth. Additionally, the prevalence of obesity is also found to be increasing in Asia Pacific which influences the regional markets.
The market in the Middle East & Africa demonstrates steady progress with Saudi Arabia and Unites Arab Emirates (UAE) being the largest contributors to the market growth. The growth of surgical device market and increasing focus on healthcare sector are the major drivers for the market growth. The African market shows positive growth with demand for technologically advanced healthcare services.
Key Players in the Bariatric Surgery Market
Some of the key players in this market are Apollo Endosurgery Inc., Johnson & Johnson Services Inc., Olympus Corporation, ALLERGAN, TransEnterix Surgical, Inc., Cousin Biotech, EndoGastric Solutions, Inc., ReShape Lifesciences, Inc., Medtronic, Intuitive Surgical, Aspire Bariatrics, Mediflex Surgical Products and others.
|Market Size||USD 3282.26 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By device, type, end user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Apollo Endosurgery Inc., Johnson & Johnson Services Inc., Olympus Corporation, ALLERGAN, TransEnterix Surgical, Inc., Cousin Biotech, EndoGastric Solutions, Inc., ReShape Lifesciences, Inc., Medtronic, Intuitive Surgical, Aspire Bariatrics, Mediflex Surgical Products|
|Key Market Opportunities||Joint ventures, strategic alliances, mergers and acquisitions and new product developments|
|Key Market Drivers||
Bariatric Surgery is an extreme weight loss procedure wherein excess fat is removed from the body using surgical methods.
Bariatric Surgery Market is expected to exhibit a strong 8.80% CAGR over the forecast period till 2030.
Leading players in the market include Johnson & Johnson Services Inc., Apollo Endosurgery, and Allergan, among others.
The growing prevalence of obesity is the major driver for the Bariatric Surgery Bariatric Surgery Market.