Pune, India, July 08, 2021 (GLOBE NEWSWIRE) -- The global bariatric surgery market valued at USD 2,400.6 million in 2020, and it is projected to grow at a CAGR of 9.5% during the forecast period. Bariatric surgery, also termed weight loss surgery, is mainly used as one of the key treatment methods for obesity. In this method, the size of the stomach is reduced using a gastric band or removing some part of the stomach.
Increasing demand for weight loss procedures and increasing occurrence of obesity are the key factors contributing to market growth. Additionally, the popularity of bariatric surgery for weight loss is growing in emerging nations worldwide, which is expected to drive the bariatric surgery market growth.
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Factors such as lack of primary care providers regarding the efficacy of the surgery, lack of faith among patients, and fear of related risks of surgery are expected to hinder the bariatric surgery market growth during the forecast period. However, an increase in acceptance of these surgeries in the developing markets can offer lucrative opportunities for the bariatric surgery market growth.
Bariatric surgical devices are expected to record high growth as they are extensively used in the minimally invasive surgeries necessary for immediate closure of small incisions made during the surgical process. The number of minimally invasive surgical procedures is increasing every year, which is expected to boost the bariatric surgery market growth.
Global Bariatric Surgery Market, by Device
Based on devices, the bariatric surgery market is segmented into assisting devices, and implantable devices. Assisting devices segment is further sub-segmented into suturing device, closure device, stapling device, trocars, and others. The implantable devices segment is further sub-segmented into gastric bands, electrical stimulation devices, gastric balloon systems, and gastric emptying systems.
Among these device segments, the assisting devices segment is the fastest-growing segment in 2021 and is expected to remain the fastest-growing segment during the forecast period. The suturing device is a triangulation stage gathered in the stomach using an endoscope and permits large plication. Endoscopic sutured gastroplasty is a minimally invasive technique used to fill the gap between surgery and behavioral therapy. Endoscopic sutured gastroplasty is performed using a novel endoluminal suturing device, an effective and safe weight-loss technique in patients with body mass index (BMI) between 30–40.
Global Bariatric Surgery Market, by Procedure
Based on procedure, the bariatric surgery market is segmented into the adjustable gastric band, gastric sleeve surgery, gastric bypass, and biliopancreatic diversion with duodenal switch. The gastric bypass is the largest revenue-generating segment in 2021 and is expected to remain the largest market during the forecast period.
Gastric sleeve surgery is recommended for persons with having BMI of at least 40. Some individuals are heavy for gastric bypass surgery, so gastric sleeve surgery is a good substitute. This surgery is done as a minimally invasive bariatric surgery procedure across the world.
Global Bariatric Surgery Market, by Surgery
Based on surgery, the bariatric surgery market is segmented into invasive surgery and non-invasive surgery. The non-invasive surgery segment is the fastest-growing segment in 2021 and is anticipated to remain the fastest-growing segment during the forecast period. The segment growth can be attributed to the increasing occurrence of obesity across the world.
The demand for fewer scars and incisions and the necessity for minimal trauma and discomfort are the factors expected to propel the non-invasive weight-loss surgical equipment market during the forecast period.
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Global Bariatric Surgery Market, by End User
Based on end user, the bariatric surgery market is segmented into bariatric surgery clinics, hospital, and ambulatory surgical centers. The hospital segment is the largest market in terms of revenue in 2021, and is expected to remain the largest market during the forecast period. The growth of segment is due to the increase in demand for bariatric surgery devices in hospitals.
Global Bariatric Surgery Market, by Region
Based on region, the bariatric surgery market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. Asia Pacific is the fastest-growing region in 2021 and is expected to remain the fastest-growing segment of the bariatric surgery market during the forecast period.
The increasing initiatives in reducing obesity by the private and government organizations in the APAC nations like India and China are driving the acceptance of bariatric surgery in the region. The growing acceptance is expected to drive the regional market growth. The presence of major market companies like Medtronic, J&J, and Allergan is accelerating innovations and R&D investments in the region. This is expected to contribute to market growth during the forecast period.
Recent Developments in the Global Bariatric Surgery Market
- February 2021- Carrum Health extended options for weight loss surgery through collaboration with the Bariatric Center of Kansas City (BCKC). The partnership will assist to progress the quality of lives with enhanced access to high-quality bariatric surgery.
- August 2019- Sentinel Capital Partners, a private equity firm, announced acquisition of SSJA Bariatric Management, LLC., foremost provider of administrative support services to bariatric surgery offices in New York. The partnership would help SSJA increase the business geographically and cover its service offerings into other markets.
COVID-19 Impact on Global Bariatric Surgery Market
The QMI team has closely monitored the impact of COVID-19 on the global bariatric surgery market. The impact of COVID-19 has been more substantial in the case of bariatric procedures, which already have a complex and long vetting procedure. Patients in need of elective surgeries, like bariatric, were put on standby globally, leading to decreased demand for bariatric products and surgeries.
In countries, where elective surgeries were not put on hold due to COVID-19, customers opted to delay surgeries on account of fear of infection of the virus. Restrictions on social distancing guidelines for travel and fears and recommendations about COVID-19 spreading within healthcare services caused both providers and patients to cancel or delay all non-essential processes, including elective surgeries. This dropping demand caused a debilitating impact on the bariatric surgery market.
Some Major Findings of the Global Bariatric Surgery Market Include:
- Major global market trend and forecasts analysis along with a country-specific market analysis for up to 25 countries
- An in-depth global bariatric surgery market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors
- Profiles of major market players operating in the global bariatric surgery market, which include Ethicon US, LLC. (Johnson and Johnson), Medtronic Plc, B.Braun Melsungen AG, Olympus, Allergan Inc., Intuitive Surgical, Inc., Cook Medical, CONMED Corporation, Apollo Endosurgery, Inc., Cousin Biotech, Aspire Bariatrics Inc., and Intuitive Surgical Inc
- Competitive benchmarking, product offering details, growth strategies adopted by the leading market players, along with their major investments in the last five years
- Key impact factor analysis across regions that include analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global market
- Impact of COVID-19 on the global bariatric surgery market
Browse key industry insights spread across 155 pages with 85 market data tables and 41 figures & charts from the report, “Bariatric Surgery Market, by Device (Assisting Devices, Implantable Devices), Procedure (Adjustable Gastric Band, Gastric Sleeve Surgery, Gastric Bypass, Biliopancreatic Diversion with Duodenal Switch), Surgery (Invasive Surgery, Non-Invasive Surgery), End User, (Bariatric Surgery Clinics, Hospital, Ambulatory Surgical Centers), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) — Market Size and Forecasting to 2030” in-depth analysis along with the table of contents (ToC).
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Ajay D
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