In a recently published report, Bariatric Surgery Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Bariatric Surgery Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Bariatric Surgery Market is valued at approximately USD 2.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9% over the forecast period 2020-2027. Bariatric surgery, also referred to as weight loss surgery, and is used as one of the main treatment procedures for obesity. In this procedure, the size of the stomach is reduced either by restricting the amount of food that the stomach can hold or by using a gastric band. The most common gastric procedure consists of an adjustable gastric band, gastric bypass, sleeve gastrectomy, and biliopancreatic diversion with duodenal switch. Bariatric surgery is mostly recommended by the surgeon to the people having Body Mass Index (BMI) more than 40. It can be utilized to improve patient health with obesity, thereby lowering the risk of life-threatening diseases.
Therefore, the usage of bariatric surgery is significantly growing around the world. Furthermore, increasing cases of obesity, rising technological development in bariatric surgical devices, and growing number of FDA approvals for bariatric surgery devices are the few factors responsible for the high CAGR of the market during the forecast period. According to the World Health Organization (WHO) data report on obesity, it is estimated that over 650 million world population were obese in 2016. Also, in 2017, the World Obesity Federation reported that more than 2.7 billion world population would be obese by the year 2025. This, in turn, is expected to promote the demand for bariatric surgery all over the world. Moreover, the recent outbreak of the COVID-19 pandemic around the world has caused much distress on individuals with obesity.
The advent of pandemic has also radically changed the way of life and caused massive stress and significant mortality in the healthcare system. Though, the remote delivery of patient care through virtual care models, such as mobile and online modalities, extends the reach of services to individuals after bariatric surgery and mitigate weight regain or impairment in quality of life. Thus, the rapid incorporation of virtual care in bariatric surgery programs to deliver patients’ needs will create novel opportunities for clinical and implementational scientific research. Therefore, the market is experiencing significant growth in the forthcoming years. However, the high cost of treatment and health-related risks associated with surgery are the few factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Bariatric Surgery market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing obese population, coupled with the presence of a significant number of device manufacturers in the region. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in cases of obesity and improving healthcare infrastructure would create lucrative growth prospects for the Bariatric Surgery market across the Asia-Pacific region.
Major market player included in this report are:
Ethicon US, LLC
B. Braun Melsungen AG
Intuitive Surgical, Inc.
Apollo Endosurgery, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
Adjustable Gastric Band
Gastric Sleeve Surgery
Biliopancreatic Diversion With Duodenal Switch
Bariatric Surgery Clinics
Ambulatory Surgical Centers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Bariatric Surgery Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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