Market Research Future (MRFR) collected data on several factors including implications of COVID 19 Impact on Bariatric Surgery Market and demographic challenges, showed how it could move forward in the coming years.
Bariatric Surgery Market Insights
Market Research Future stated that the global bariatric surgery device market is anticipated to develop at a CAGR of 6.5% between the forecast period, 2017-2023.
Bariatric surgery is mainly recommended for people with a BMI of over 40. It is applied to improve the health of obese patients, thereby decreasing the risk of severe illnesses. Obesity is one of the main health problems that has increased the demand for gastric bypass worldwide. Diabetes and cardiovascular disease are the most important diseases that occur in the obese population. The advent of new technologies in bariatric surgery, increased number of patients, and growing demand for minimally invasive surgical procedures are the most important factors for the growth of the market during the forecast period.
The increasing prevalence of obesity and the growing demand for weight loss procedures are the most critical factors stimulating the growth of the market. In addition, the popularity of bariatric weight loss surgery in developing countries around the world is increasing, spurring market growth.
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Bariatric Surgery Market Segmentation
The global bariatric surgery market broadly bifurcated into type, device, and end-user.
The global bariatric surgery market is also divided into gastric balloons, electrical stimulation systems, gastric emptying systems, surgical stapler gastric bands, and others; based on device.
The type segment of the global market is divided into sleeve gastrectomy, biliopancreatic diversion with duodenal switch, adjustable gastric band, and others.
The global bariatric surgery market strategy is classified into surgical centers, hospitals & clinics, health care facilities, and others; based on end-user.
Bariatric Surgery Market Regional Insights
The Americas are the largest bariatric surgery market and is motivated by the availability of a large number of surgical centers, a growing awareness of obesity and risk factors, and technological advances in surgery bariatric laparoscopy. The bariatric surgery market in North America is the largest market, followed by South America. In addition, obesity is one of the biggest health problems of the American population, increasing the demand for surgery. In South America, the growth of healthcare and the growing use of medical devices in various operations is driving the market. The CDC (Centers for Disease Control and Prevention) reported that in 2014, over one-third of US adults were obese.
The European bariatric surgery market is fueled by the growing number of surgical device manufacturers and distributors, the high prevalence of diabetes, and the huge public funding available for research. Germany has the largest market share, followed by France and the United Kingdom. Factors that contribute to the growth of the market in Germany are the concentration of the main players in the market and the focus on controlling obesity and diabetes.
In the Asia Pacific, diabetes is a major chronic disease, weighing heavily on emerging economies such as China and India. The availability of qualified healthcare professionals, such as surgeons, increasing patient awareness of obesity and the growth of the geriatric population, are the most important factors contributing to the growth of the market. In India and China, the lack of physical activity, the growing influence of the western lifestyle, and the sedentary lifestyle of the workforce are major risk factors for obesity, accelerating market growth. In addition, the prevalence of obesity is also increasing in Asia Pacific, which affects regional markets.
The Middle East and Africa bariatric surgery market is expected to show steady progress, with Saudi Arabia and the United Arab Emirates (UAE) making the most important contribution to market growth. The growth of the surgical device market and the growing focus on health are the most important factors for the growth of the market. The African market is growing with the demand for technologically advanced healthcare services.
Bariatric Surgery Market Major Players
The global bariatric surgery market is driven by various leading giants in the sector including TransEnterix Surgical, Aspire Bariatrics, Mediflex Surgical Products, Olympus Corporation, Cousin Biotech, ReShape Lifesciences, Intuitive Surgical, Olympus Corporation, Intuitive Surgical, Johnson & Johnson Services Inc., and Cousin Biotech among others.
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Bariatric Surgery Market Recent Updates
According to a study published in JAMA (The Journal of the American Medical Association), birth defects risks are decreased among children by maternal bariatric surgery. Mothers who went through Roux-en-Y gastric bypass are less likely to have birth defects. However, in other scenario mothers without any weight-loss surgery face complication related birth defects. The research was led by Martin Neovius, Ph.D., a professor with the department of medicine at the Karolinska Institutet in Stockholm.