Given the wide-reaching effects of COVID-19 (Coronavirus) on Bariatric Surgery Market, companies are on the lookout for new opportunities to sustain in the coming years. Gain new insights into the market and alternative solutions for keeping production steady in unforeseen circumstances.
Bariatric Surgery Market Competitive Analysis:
Leading players in the global bariatric surgery market include Apollo Endosurgery Inc., Olympus Corporation, TransEnterix Surgical Inc., EndoGastric Solutions Inc., Medtronic, Aspire Bariatrics, Mediflex Surgical Products, Intuitive Surgical, ReShape Lifesciences Inc., Cousin Biotech, Allergan, and Johnson & Johnson Services Inc.
Bariatric Surgery Market Overview
Global bariatric surgery market size is expected to exhibit a robust 6.5% CAGR over the forecast period, according to a new research report from Market Research Future (MRFR). The global bariatric surgery market is driven mainly by the growing demand for bariatric surgeries from the urban population in developed economies. The growing prevalence of obesity in urban centers in the West is likely to drive the global bariatric surgery market over the forecast period.
Bariatric surgery is performed to pinch off the patient’s stomach so that their food intake is reduced without compensating on their hunger. Bariatric surgery is mostly performed in individuals with a body mass index of more than 40. Thus, cases of intense obesity with a chance of turning into morbid obesity are mostly the ideal application for bariatric surgeries.
The growing prevalence of obesity around the world is likely to be the major driver for the global bariatric surgery market over the forecast period. The global prevalence of obesity has been driven in the last few decades by the growing popularity of junk food and the growing prevalence of a sedentary lifestyle that doesn’t provide for exercise and active recreation. Bariatric surgery is one of the most direct ways of combating obesity, as the capacity for food intake is itself reduced, leading to smooth weight loss after the surgery.
Advances in bariatric surgery are also likely to drive the demand for bariatric surgery over the forecast period. The growing demand for minimally invasive surgeries is likely to drive innovation in the bariatric surgery market over the forecast period, as manufacturers rush to fulfill the customer demand in the most efficient way possible. The growing number of patients opting for bariatric surgery is likely to drive the global bariatric surgery market over the forecast period.
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Bariatric Surgery Market Segmentation:
The global bariatric surgery market is segmented on the basis of device, type, and end user.
On the basis of the device, the bariatric surgery 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 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 bariatric surgery market is segmented into hospital & clinics, surgical centers, and others.
Bariatric Surgery Market Regional Analysis:
The Americas hold the major share in the global bariatric surgery market due to the high prevalence of obesity in the region. The global bariatric surgery market is likely to receive strong demand from North America in the coming years due to the growing prevalence of obesity among the urban as well as rural populations in the region. The growing awareness among consumers in the region about maintaining an attractive appearance is also likely to lead to a steady rise in the bariatric surgery market in the region over the forecast period. The high disposable income of consumers in the region is also likely to be a major driver for the global bariatric surgery market over the forecast period. According to the CDC, one third of the U.S. population were obese in 2014, leading to strong prospects for the bariatric surgery market in the region.
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Europe is also likely to emerge as a major regional market for bariatric surgery in the coming years due to the growing prevalence of obesity in advanced Western economies and the growing availability of government funding for research.
Asia Pacific holds a relatively small share in the global bariatric surgery market, but is likely to exhibit rapid growth over the forecast period, mainly due to the growing prevalence of diabetes in the region.