The Global Bariatric Surgery Market is expected to grow at a CAGR of 8.6 % during 2017-2022, owing to rising prevalence of obesity and technological advancements in healthcare sector.
Global Bariatric Surgery Market Insights
Bariatric surgeries and its devices are used for weight loss by decreasing the swelling volume of stomach to systematized food with the process of digestive restriction and malabsorption.
According to WHO, in 2014 there were more than 2.8 million fatalities occurred due to obesity and overweight. In 2013, 62% of the overweight people in across the globe lived in developed countries followed by emerging economies such as China, India and Korea.
In North America alone there were 79 million overweight people responsible for spending $147 billion on medical costs related to obesity. These surgeries process are performed by use of negligible invasive method and techniques.
Increasing capital expenditure on healthcare and patient preference for minimally invasive surgeries are also driving the market across the globe.
Furthermore, increasing government funding to improve healthcare facilities and hospitals is also expected to boost market growth during the forecast period. Adoption of these surgeries in the emerging markets, improving healthcare spending and growing disposable incomes are expected to create significant demand for bariatric surgery market.
However, high costs associated with surgery post-surgery complications and non-surgical therapies may affect the growth of the market.
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North American region has been dominating the global bariatric surgery market followed by Europe due to the presence of highest incidences and prevalence rate of obesity, significant investment in R&D, highest healthcare spending and so forth. Obesity has been considered to be an epidemic in the US that is responsible for obtaining other diseases including diabetes and heart diseases.
According to the Centers for Disease Control and Prevention (CDC), in 2013 alone more than one-third of the US adults are obese. It is estimated that over 6% are considered morbidly obese with Body Mass Index (BMI) greater than 40.
Additionally, the North American region is growing significantly due to adequate insurance coverage, better patient awareness and technological advancements in healthcare infrastructures. However APAC is expected to be the fastest growing market owing to increasing healthcare expenditures and increasing medical tourism.
Allergan Inc., USGI Medical Inc., Silimed Ltd., Cousin Biotech, Olympus Corporation, Ethicon (Johnson & Johnson), Stryker Corporation, Reshape Medical, Medtronic, Metacure, Synovis Surgical, Helioscopie and Gelesisare are some of the key players contributing significantly in the growth of global bariatric surgery market. For example the pharmaceutical & medical devices manufacturers Medtronic Plc have launched flagship devices such as VersaOne Access System, Clearify Visualization System and GastriSail Gastric Positioning and so forth.
The investment form government and private players are considered to provide support to bariatric surgery market players to provide enhanced devices for bariatric surgeries.
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The market is segmented on the basis of procedure, devices and end users. The market segmentation includes: Adjustable Gastric Band (AGB), Sleeve Gastrectomy surgery, Gastric Bypass, Biliopancreatic Diversion with a Duodenal Switch (BPD-DS), By device including Gastric Bands, Electric Simulators, Gastric Balloons, Surgical Staples devices, and others.
By end users the market has been bifurcated as hospitals, clinics and ambulatory surgical centers.
- Global Bariatric Surgery Market Research and Analysis, By Procedures
- Global Bariatric Surgery Market Research and Analysis, By Device
- Global Bariatric Surgery Market Research and Analysis, By End Users
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Our Report covers:
- Comprehensive research methodology of Global Bariatric Surgery Market.
- This report also includes detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Global Bariatric Surgery Market.
- Insights about market determinants which are stimulating the Global Bariatric Surgery Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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