Bariatric Surgeries Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030
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The global market value for the bariatric surgeries market was valued at USD 1.7 billion in 2022, and a CAGR of 7.1% is expected during the forecast period. Bariatric Surgeries refers to weight loss surgery, which is very common due to rising awareness about obesity and demand for effective weight management solutions. Advancements in surgical techniques, rising awareness, and lifestyle changes contribute to market expansion. Healthcare policies, reimbursement issues, and patient preferences are the key drivers in the market.
Rising obesity rates and technological advancements are driving the growth of the Bariatric Surgeries market. Minimally invasive procedures, increasing awareness about health risks associated with obesity, and the effectiveness of bariatric surgeries as a treatment option encourage more individuals to consider this procedure. Improvements in healthcare infrastructure are driving the growth of the market significantly.
Impact of
Covid-19
Shifts in healthcare priorities, telemedicine adoption, and postponed surgeries were the main factors that had a significant impact on the Bariatric Surgeries market. Economic uncertainties during the pandemic affected individuals' financial situations, leading to a reluctance or inability to undergo elective surgeries, including bariatric procedures. The pandemic caused supply chain disruptions, which potentially caused delays and shortages in materials necessary for Bariatric Surgeries.
The rising obesity rate and
technological advancement are driving the growth of the market significantly.
Many bariatric surgeries are elective procedures, and during the pandemic,
there were disruptions during the lockdown, restrictions, and hospitals
prioritizing COVID-19 cases. This led to a decline in the number of bariatric
surgeries performed.
Growth Drivers
Rising cases of obesity worldwide are driving the demand for bariatric surgeries on the market. Increasing awareness about the health risks associated with obesity and health-related issues is driving the growth in the market. Over time, there has been a growing acceptance of bariatric surgeries as a viable and effective long-term solution for weight management, further boosting the demand. Increasing emphasis on health-related issues, an increasing geriatric population all around the world, and supportive healthcare policies and reimbursement frameworks are driving growth in the market.
The social emphasis on appearance, coupled with health concerns related
to obesity, motivates many individuals to pursue weight loss. Bariatric
surgeries offer effective and long-term solutions for weight management,
addressing health issues such as diabetes and cardiovascular problems. The
desire for improving well-being and increased confidence also contributes to the
wide spread of interest in weight loss and bariatric procedures.
Segmentation
Type
·
Bariatric
Surgeries
·
Device Used
By Procedure
·
Gastric Bypass
Surgery
·
Sleeve
Gastrectomy Surgery
·
Gastric Banding
Surgery
·
Others
By Device Type
·
Stapling
Devices
·
Gastric Bands
·
Gastric Balloons
Regional
Outlook
·
Asia Pacific
·
North America
·
Latin America
·
Europe
·
Middle East and
Africa
Bariatric
Surgeries Market Type Segmentation
On the basis of type, the Bariatric Surgeries market is segmented into bariatric surgeries and devices used. Bariatric surgeries focus on weight loss by altering the digestive system, often involving procedures like gastric bypass or sleeve gastrectomy. Device-used surgeries, on the other hand, involve implanting devices for various purposes, such as controlling chronic diseases and enhancing bodily function. The key distinction lies in their primary objectives: weight loss for bariatric surgeries and device implementation for specific medical purposes in device use surgeries.
Bariatric
Surgeries Market by Procedure Segmentation
On the basis of procedure segmentation, the Bariatric
Surgeries market is segmented into gastric bypass surgery, sleeve gastrectomy
surgery, gastric banding surgery, and others. Gastric bypass surgery involves
creating a smaller stomach pouch and rerouting the small intestine, promoting
reduced food intake and nutrient absorption. Sleeve gastrectomy surgery removes
a portion of the stomach, leaving a smaller, sleeve-shaped stomach to limit
food consumption. Gastric banding surgery places an adjustable band around the
stomach to control food intake. Each procedure has a distinct mechanism for
weight loss and is chosen based on individual patient factors and preferences.
Bariatric
Surgeries Market By Device Type Segmentation
On the basis of device type, the Bariatric Surgeries
market is segmented into stapling devices, gastric bands, and gastric balloons.
Stapling devices are commonly used in Bariatric Surgeries to create stomach
pouches and reroute the digestive system. Gastric bands are adjustable devices
placed around the stomach to restrict fluid intake. Gastric balloons are
temporarily inflatable devices that are inserted into the stomach to reduce
weight. Each device type serves a specific purpose in bariatric procedures,
aiming to promote weight reduction and manage obesity-related conditions.
Regional
Outlook
On the basis of the regions, the Bariatric Surgeries market is segmented into 5 regions: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America holds the leading position in the Bariatric Surgeries market due to factors such as the high prevalence of obesity, well-established healthcare infrastructure, increasing awareness about weight-related health issues, and favorable reimbursement policies.
The region’s advanced medical facilities and proactive approach to addressing obesity contribute to its prominence in the Bariatric Surgeries market. Countries like the United States of America are blessed with a rise in disposable income over time, and they are more health-conscious in comparison to any other part of the world.
In Asia Pacific, in countries like China, India, Taiwan, Vietnam, and Thailand, the rising urbanization, rise in disposable income, increasing awareness of health consciousness, rising middle-class population, improved Bariatric Surgeries market, and rising healthcare expenditure further support the market’s favorable condition in the Asia-Pacific region.
In Europe, the Bariatric Surgeries market benefits from a rising prevalence of obesity, increasing awareness of weight management, and advancements in healthcare infrastructure. Supportive government initiatives and a growing acceptance of surgical interventions are driving growth in countries like Germany, the UK, Italy, Spain, France, and Belgium.
The Middle East and Africa are witnessing slow growth in the market comparatively, but in the United Arab Emirates, Saudi Arabia, Egypt, and South Africa, due to the rising middle class, people are becoming more health conscious. Increasing awareness among people about losing weight is the key factor behind the growth in the market.
Key Players
·
Medtronic
·
Ethicon
·
Intuitive
Surgical
·
Apollo
Endo-surgery
·
Reshape
Lifesciences
·
Olympus
Corporation
·
Spatz Medical
·
Pare Surgical
INC
·
Cousin Biotech
· Other Players