Bariatric Surgery Market Segmentation by Procedure (Adjustable Gastric Banding, Gastric Bypass, Biliopancreatic Diversion with Duodenal Switch, and Gastric Sleeve Surgery); by Devices (Assisting Devices and Implantable Devices); by End-user (Bariatric Surgery Clinics, Hospitals, and Ambulatory Surgical Centers) – Global Demand Analysis & Opportunity Outlook 2031
Buy Now Report ID: 4115 | Published Date: Feb 01, 2023
Regionally, the global bariatric surgery market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of high occurrence of obesity among population and increase in investments by leading players for developing innovative surgery devices. According to the data collected from the U.S. Centers for Disease Control and Prevention, the prevalence of obesity in the U.S. was 42.4% during 2017-18. Additionally, the prevalence of severe obesity during the same period increased from 4.7% to 9.2%.
Asia-Pacific region is projected to witness market growth at the highest rate over the forecast period owing to presence of large population vulnerable to obesity, advancing healthcare infrastructure, and growing per capita income levels. According to the WHO, almost half of the children under the age of 5 who were overweight or obese, globally, in 2019 lived in Asia.
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The global bariatric surgery market is further classified on the basis of region as follows:
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Our in-depth analysis of the global bariatric surgery market includes the following segments:
By Procedure
By Devices
By End-user
Growth Drivers
Challenges
September 2020: Ethicon, Inc. launched its first buttress solution, ECHELON ENDOPATH Staple Line Reinforcement (SLR) which is designed to further strengthen staple lines and reduce potential complications during bariatric, thoracic and general surgical procedures.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Growing number of cases of obesity and related disorders over high consumption of energy-dense food, increasing development of technologically advanced bariatric surgery devices on the back of rise in awareness about bariatric surgery and emergence of minimally invasive devices that reduce treatment cost & recovery time are the major factors driving the growth of the market.
Ans: The market is anticipated to attain a CAGR of 5.1% over the forecast period, i.e., 2022 – 2031.
Ans: The major players in the market are Medtronic, Ethicon, Inc. (Johnson & Johnson Services, Inc.), Apollo Endosurgery, Inc., Garnet Health, Intuitive Surgical, B. Braun Melsungen AG, Olympus Corporation, Cook, CONMED Corporation, W. L. Gore & Associates, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by procedure, devices, end- user, and by region.
Ans: The gastric bypass segment is anticipated to hold the largest market size in value over the forecast period and display significant growth opportunities.
Ans: Lack of awareness about complexities involved in bariatric surgery, adherence to a strict diet regime after surgery, and post-surgery associated complications are estimated to hamper the market growth.
Ans: Asia Pacific region is estimated to provide significant business opportunities for growth of the market.
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