Rising prevalence of chronic diseases such as diabetes and obesity worldwide and increasing volumes of weight loss surgeries are some key factors driving Bariatric Surgery market revenue growth.
Rising prevalence of chronic diseases such as diabetes and obesity worldwide and increasing volumes of weight loss surgeries are some key factors driving Bariatric Surgery market revenue growth.
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:
Steady revenue growth of the global bariatric surgery market is primarily attributed to factors such as changing lifestyle and food habits, rising burden of chronic and lifestyle-induced diseases including obesity, diabetes, and heart disease, rising geriatric population, growing health concerns among people, and increasing volumes of weight loss surgeries. Obesity is a major health issue caused by significantly changing lifestyle and food habits, and it affects a large number of people across the globe.
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According to several studies, morbid obesity augments the risk of premature deaths, and it leads to more than 280,000 deaths in the U.S. each year. Bariatric surgery is a surgical procedure that is performed on people with obesity to help them lose weight by making certain changes to their digestive systems. The surgery helps in reducing the risks of other health problems caused by obesity, such as hypertension, asthma, sleep apnea, type 2 diabetes, gastroesophageal reflux disease (GERD), osteoarthritis, and dyslipidemia.
The global bariatric surgery market revenue growth is further driven by factors such as technological advancements in surgical equipment used in bariatric surgery, increasing preference for gastric bypass and gastric sleeve surgeries, incorporation of robotics and automation technologies in these surgeries, and increasing R&D activities to develop newer alternatives to bariatric surgery. For instance, in January 2019, a team of researchers at the University of Michigan developed new endoscopic bariatric and metabolic therapies (EBMTs), as part of the multidisciplinary Michigan Medicine program. The innovative, non-invasive weight-loss procedures help treat obesity and other metabolic disorders by reducing the stomach volume or altering parts of the digestive tract of a patient.
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
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Assisting Devices Segment Accounted for Largest Revenue Share in 2020:
The assisting devices segment dominated other segments in terms of revenue share in the global market in 2020. Some of the key factors driving revenue growth of this segment are rising prevalence of lifestyle diseases such as obesity, increasing volumes of weight loss surgeries, growing preference for minimally invasive surgical procedures, and increasing use of assisting devices such as closure devices and suturing devices in bariatric surgery.
Gastric Bypass Procedure Segment to Account for Fastest Revenue CAGR:
The gastric bypass segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Significantly changing lifestyles and food habits, growing public health concerns, rising burden of chronic diseases including obesity and diabetes, rising focus on weight loss, and increasing demand for minimally invasive surgeries are major factors driving revenue growth of this segment. Gastric bypass is one of the most widely performed bariatric surgeries. This type of surgery reduces the risks of life-threatening problems such as heart disease, stroke, high cholesterol, high blood pressure, type 2 diabetes, gastroesophageal reflux disease (GERD), infertility, and obstructive sleep apnea, which are caused by obesity.
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. Key factors supporting the regional market revenue growth are growing prevalence of obesity, diabetes, and other lifestyle-induced diseases, rising geriatric population, increasing volumes of bariatric surgery, growing use of highly advanced bariatric surgical devices, increasing preference for minimally invasive surgeries, and presence of leading market players in the region, including Johnson & Johnson, CONMED Corporation, Allergan Inc., and Apollo Endosurgery, Inc.
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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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