PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514902
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514902
Bariatric Surgeries Market size was valued at USD 1,987.78 Million in 2023, expanding at a CAGR of 6.5% from 2024 to 2032.
Bariatric surgery, also known as weight loss surgery, is a type of surgical procedure designed to assist individuals with obesity in losing weight. In cases where other weight loss methods have proven ineffective and obesity poses a greater health risk than the surgery itself, healthcare professionals may recommend bariatric surgery. These surgical procedures primarily focus on altering the digestive system, typically the stomach and sometimes the small intestine, to regulate the amount of calories that can be consumed and absorbed. Bariatric surgery has been proven to be the most effective long-term treatment for individuals with class III obesity. According to the National Institutes of Health (NIH), individuals with class III obesity find it extremely challenging to maintain weight loss solely through diet and exercise.
Bariatric Surgeries Market- Market Dynamics
The rising incidence of obesity is anticipated to propel market demand
Obesity is an escalating global health concern, with prevalence rates on the rise in numerous countries. The surge in obesity can be attributed to sedentary lifestyles, unhealthy eating habits, and genetic predispositions. According to the NCD Risk Factor Collaboration (NCD-RisC) findings in 2024, it is estimated that over one billion individuals worldwide are currently affected by obesity, comprising approximately 880 million adults and 159 million children and adolescents aged 5-19 years. The analysis conducted by the World Obesity Federation reveals that nearly 3 billion people are living with either overweight or obesity. Moreover, the market for specialized bariatric surgery centers and well-trained healthcare professionals is expected to witness growth opportunities. However, the high cost associated with bariatric surgery may impede the expansion of the market.
Bariatric Surgeries Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2024-2032)
Based on Device segmentation, Assisting Devices was predicted to show maximum market share in the year 2023
Based on Procedure segmentation, Sleeve Gastrectomy was the leading type in 2023
Based on End-User segmentation, Hospitals was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Bariatric Surgeries Market is segmented based on Device, Procedure, End-User, and Region.
The market is segmented into two categories according to Device: Assisting Devices and Implantable Devices and Others. Assisting Devices are leading the market expansion. The growth of the bariatric surgery market is heavily influenced by the advancement and application of various assisting devices that improve surgical accuracy, safety, and results.
The market is categorized into two sections according to the procedure: Sleeve Gastrectomy, Gastric Bypass, and Others. Sleeve Gastrectomy holds a dominant position in the market. It is known for its high effectiveness in promoting weight loss and improving obesity-related comorbidities like type 2 diabetes, hypertension, and sleep apnea.
The market is segmented into two categories according to End-User: Hospitals and Other sectors. The hospital segment holds a significant market share, offering a wide range of services such as pre-operative evaluations, surgical interventions, and post-operative care for a holistic approach to managing bariatric patients.
Bariatric Surgeries Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America dominates the market, due to the availability of better healthcare infrastructure in the region and the rising awareness of bariatric surgery. North America, particularly the United States and Canada, boasts some of the most advanced healthcare facilities and surgical centers in the world. Numerous public health campaigns and initiatives promote awareness of obesity and the benefits of bariatric surgery. These campaigns help reduce the stigma associated with obesity and encourage individuals to consider surgical options. There are a total of 8,214 hospitals in the United States. Texas, California, and Florida rank among the top three with 915, 553, and 372 hospitals respectively. At the bottom of the list are Rhode Island, Vermont, and Washington D.C., with only 19, 18, and 16 in their areas. Europe holds the second largest region for market growth, due to Increased public awareness of the benefits and safety of bariatric surgery.
The competitive landscape of the bariatric surgery market involves a variety of stakeholders such as hospitals, medical device manufacturers, and healthcare providers, making it a highly competitive industry. This competition fosters innovation, improves patient outcomes, and shapes the overall market dynamics. The ongoing advancements in minimally invasive techniques and robotic-assisted surgeries contribute to better patient outcomes and quicker recovery times, giving companies a competitive edge. Furthermore, tapping into emerging markets with increasing obesity rates presents lucrative growth prospects. Companies and healthcare providers are increasingly focusing on these regions to expand their market reach. With the growing demand for bariatric surgery due to rising obesity rates and advancements in surgical procedures, the competitive landscape is expected to become even more dynamic in the future.
On March 8, 2024, Medtronic plc, a prominent player in healthcare technology, discloses the U.S. Food and Drug Administration (FDA) 510(k) clearance for the BIS Advance monitor. This advanced monitor incorporates the scientifically proven BIS algorithm and features a revamped user interface that offers effortless configuration and usability. Medtronic has strategic plans to introduce this cutting-edge device into the U.S. market within the upcoming months.
On July 29, 2022, Apollo Endosurgery, Inc., a renowned global leader in minimally invasive medical devices for gastrointestinal and bariatric procedures, announced the electronic publication of the groundbreaking Multi-center ESG Randomized Interventional Trial (MERIT) Study in The Lancet The MERIT study is a prospective randomized clinical trial conducted at multiple centers, aiming to assess the safety and efficacy of the Endoscopic Sleeve Gastroplasty (ESG) procedure. This minimally invasive weight loss procedure is performed using Apollo's Endosurgery's OverStitch Endoscopic Suturing System.
GLOBAL BARIATRIC SURGERIES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Medtronic PLC
Ethicon Inc. (Johnson and Johnson)
Apollo Endosurgery Inc
Aspire Bariatrics Inc
Intuitive Surgical Inc
B. Braun Melsungen AG
Olympus Corporation
The Cooper Companies
Conmed Corporation
Cousin Biotech
Others