According to Emergen Research, the global bariatric surgery market size was USD 2.41 Billion in 2020 and is expected to reach USD 4.81 Billion in 2028 and register a revenue CAGR of 9.0% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Bariatric Surgery Market, By Device Type (Implantable Devices, Assisting Devices), By Surgery Type (Invasive Surgery, Non-invasive Surgery), By Procedure (Gastric Sleeve Surgery, Adjustable Gastric Band, Gastric Bypass, Biliopancreatic Diversion with Duodenal Switch), By End-use (Hospitals, Bariatric Surgery Clinics, Ambulatory Surgical Centers, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global bariatric surgery market size was USD 2.41 Billion in 2020 and is expected to reach USD 4.81 Billion in 2028 and register a revenue CAGR of 9.0% during the forecast period, 2021-2028.
Market Dynamics:
The global bariatric surgery market revenue growth is majorly attributed to factors such as significant changes in lifestyle and food habits, rising health concerns worldwide, growing prevalence of chronic diseases including diabetes and obesity, and rising focus on weight loss. Obesity is a major health problem affecting a significantly large number of people around the world, and rising concerns about the disease have driven demand for bariatric surgeries. Morbid obesity increases the risk of premature deaths; over 280,000 people in the U.S. die due to obesity each year, according to a study. Bariatric surgery is a surgical procedure performed on obese people to make changes to their digestive system in order to help them lose weight. The surgery effectively reduces the risks of type 2 diabetes, hypertension, sleep apnea, osteoarthritis, dyslipidemia, asthma, and gastroesophageal reflux disease (GERD), which are the common side-effects of obesity. Revenue growth of the global bariatric surgery market is further driven by technological advancements in bariatric surgical devices, increasing number of gastric sleeve and gastric bypass surgeries, rising cosmetic concerns among individuals, and rapid integration of robotics in surgeries.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Assisting Devices Segment Accounted for Largest Revenue Share in 2020:
Based on device type, the global bariatric surgery market is segmented into implantable devices and assisting devices. The assisting devices segment was the most dominant in terms of revenue share in the global market in 2020. Closure devices and suturing devices are the most commonly used assisting devices in bariatric surgeries. Closure devices help reconnect tissues and close incisions made by trocars during bariatric surgical procedures, while suturing devices make large plications with the help of an endoscope. Growing use of these devices in minimally invasive surgeries is a key factor driving this segment’s growth.
Gastric Bypass Procedure Segment to Account for Fastest Revenue CAGR:
Based on procedure, the gastric bypass segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Gastric bypass is one of the most commonly performed bariatric surgeries, and it helps reduce the risks of potential life-threatening problems such as heart disease, stroke, gastroesophageal reflux disease (GERD), high cholesterol, high blood pressure, type 2 diabetes, obstructive sleep apnea, and infertility..
North America Market Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America bariatric surgery market accounted for the largest revenue share in the global market in 2020. Factors contributing to the regional market growth are increasing prevalence of obesity and diabetes, increase in bariatric surgeries, development of highly advanced bariatric surgical devices, and rising healthcare expenditures of people. Presence of leading manufacturers of surgical equipment in the region, such as Johnson & Johnson, Allergan Inc., and CONMED Corporation, is another factor driving the North America market revenue growth.
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Major Companies in the Global Bariatric Surgery Market Include:
- Medtronic Plc
- Allergan Inc.
- B. Braun Melsungen AG
- Johnson & Johnson
- Olympus Corporation
- Apollo Endosurgery, Inc.
- Conmed Corporation
- Intuitive Surgical, Inc.
- Mediflex Surgical Procedures
- GI Dynamics Inc.
For the purpose of this report, Emergen Research has segmented the global bariatric surgery market based on device type, surgery type, procedure, end-use, and region:
Device Type Outlook (Revenue, USD Billion; 2018–2028)
- Implantable Devices
- Electrical Stimulation Devices
- Gastric Bands
- Gastric Emptying Systems
- Gastric Balloon Systems
- Assisting Devices
- Closure Devices
- Suturing Devices
- Stapling Devices
- Trocars
- Others
Surgery Type Outlook (Revenue, USD Billion; 2018–2028)
- Invasive Surgery
- Non-invasive Surgery
Procedure Outlook (Revenue, USD Billion; 2018–2028)
- Gastric Sleeve Surgery
- Adjustable Gastric Band
- Gastric Bypass
- Biliopancreatic Diversion with Duodenal Switch
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals
- Bariatric Surgery Clinics
- Ambulatory Surgical Centers
- Others
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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