Global Bariatric Surgery Market to Reach USD 3518 Million by 2024

Global bariatric surgery market was valued at approximately USD 1,957 million in 2018 and is expected to generate revenue of around USD 3518 million by end of 2024, growing at a CAGR of around 10.3 percent between 2019 and 2024. Bariatric surgery is generally the last option for patients who have failed in the attempt to lose weight with several other means. This treatment boosts weight loss via the restriction of food intake, which is accomplished by decreasing the capacity and size of the stomach, causing malabsorption of calories, which is an effective approach to weight loss in cases of morbid or severe obesity. Due to advancements and improvements in the procedures, it is now possible for surgeons to carry out surgery for weight loss by means of minimally invasive techniques.

According to the American Society for Metabolic and Bariatric Surgery, the bariatric surgery helps in improving or resolving more than 40 obesity-related diseases and conditions, including heart disease, type II diabetes, sleep apnea, certain cancers, high blood pressure, sleep apnea, high cholesterol, and joint problems. According to ASMBS, bariatric surgery results into 56 percent decrease in mortality rate from coronary artery disease and 60 percent decrease in mortality rate from cancer along with a major reduction in mortality rates witnessed in colon and breast cancers. ASMBS further estimated 2 percent drop in mortality rate from diabetes type II and 40 percent overall drop in mortality rate in people who underwent gastric bypass surgery. Furthermore, the bariatric surgery market growth is majorly driven by the rising incidence of obesity in adults and pioneering robotic technologies resulting in enhanced operational efficiency.

Based on devices, the global bariatric surgery market is segmented into implantable devices and assisting devices. The assisting devices segment is further classified into trocars, suturing device, clip appliers, a stapling device, closure devices, and others. The implantable devices segment is sub-segmented into gastric balloons, electrical stimulation devices, gastric bands, and gastric emptying. Among them, the implantable devices segment will contribute towards the major market share in terms of revenue for global bariatric surgery market. The increasing popularity of minimally invasive surgical procedures will boost the segmental growth with the highest CAGR.

Procedure segment in global bariatric surgery market is divided into gastric bypass, non-invasive bariatric surgery, revision bariatric surgery, mini-gastric bypass, sleeve gastrectomy, adjustable gastric banding, and biliopancreatic diversion with duodenal switch. Gastric bypass segment is expected to dominate the market, owing to an increasing preference for gastric bypass surgeries and gastric bypass diet worldwide. The sleeve gastrectomy segment will grow at the fastest CAGR as it is an incision-less surgery. According to the American Society for Metabolic and Bariatric Surgery (ASMBS), total 228,000 surgeries were performed in 2017. Sleeve gastrectomy segment accounted for around 59.39 percent share during 2017 and it was followed by gastric bypass segment with the share of 17.80 percent in the same year.

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are major regional segments of global bariatric surgery market. North America is anticipated to remain the leading region. Growth in the region is attributed to high prevalence of obese population and adoption of bariatric surgery coupled with government supported funding and research activities undertaken by the industry players to evaluate the efficiency of their surgeries to treat obesity. In Europe, the obese population is increasing at a higher rate with Ireland at the top of the chart. Asia Pacific bariatric surgery market is the fastest growing market with the highest CAGR, owing to the rise in the obese population and thriving medical tourism accompanied by affordable costs of surgery performed in the region.

Some of the key players in bariatric surgery market include Ethicon, Medtronic, Intuitive Surgical, Apollo Endosurgery, Reshape Lifesciences, Olympus Corporation of the Americas, Aspire Bariatrics, SpatzFgia, Mediflex Surgical Products, Cousin Biotech, Covidien Plc, and TransEnterix, Inc. among others. – Zion Market Research