February 17, 2021
According to the business intelligence report titled ‘Global Bariatric Surgery Market Size study, by Devices (Assisting Devices, Implantable Devices), Procedure (Adjustable Gastric Band, Gastric Sleeve Surgery, Gastric Bypass, Biliopancreatic Diversion With Duodenal Switch), by Surgery (Invasive Surgery, Non-Invasive Surgery), by End-User (Bariatric Surgery Clinics, Hospital Pharmacies, Ambulatory Surgical Centers) and Regional Forecasts 2020-2027’ available with Market Study Report LLC, global bariatric surgery market was worth USD 2.2 billion in 2019 and is projected to register 9% CAGR over 2020-2027.
Global bariatric surgery market is largely driven by increasing cases of obesity, technological advancements and rising number of FDA approval for medical devices in this field.
For the record, bariatric surgery, also known as weight loss surgery, is the most preferred surgical procedure adopted for treatment of obesity. The involves reduction in the size of the stomach by either using a gastric band or by limiting the food intake capacity of the stomach.
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Speaking of the restraints, high treatment cost along with risks associated with the bariatric surgical procedures are hindering the industry expansion.
On the other hand, growing efforts towards recovering mortality rates, increasing research & development activities, and incorporation of virtual care models in bariatric surgery programs amid the Covid-19 pandemic are furthering business development.
Based on device type, global bariatric surgery industry is split into implantable devices and assisting devices. With regards to surgery, the market is divided into non-invasive surgery and invasive surgery. The end-user landscape of the vertical comprises of ambulatory surgical centers, hospital pharmacies, and bariatric surgery clinics among others.
From a regional frame of reference, North America accounts for majority of global bariatric surgery market share, primarily due to growing prevalence of obesity and high concentration of product manufacturers in the region.
On the other hand, Asia-Pacific is predicted to emerge as a major revenue generator for the industry over 2020-2027, owing to growing obese population and flourishing healthcare infrastructure.
Major companies influencing the global bariatric surgery market trends are Medtronic plc, Ethicon US, LLC, B. Braun Melsungen AG, Allergan Inc., Olympus Corp., Cook Medical Inc., Intuitive Surgical, Inc., Apollo Endosurgery, Inc., Conmed Corp., and Cousin Biotech among others.