Increasing need for effective weight-loss surgeries due to rising incidence of obesity, growing patient preference for minimally invasive surgeries, and advancements in surgical and post-surgical procedures are some key factors expected to drive market growth
According to Emergen Research, the global bariatric surgery market size was USD 2.41 billion in 2020 and is expected to reach USD 4.81 billion in 2028 and register a revenue CAGR of 9.0% during the forecast period, 2021-2028.
Bariatric surgery is a term collectively used for various types of weight-loss surgeries that make changes to the digestive system of obese individuals. Bariatric surgery is a hormonal procedure in which alteration in gut hormone levels develops as a result of restriction and malabsoprtion. Weight loss resulting from bariatric surgeries is also linked with reduction in some comorbidities of obesity such as sleep apnea, metabolic syndrome, and diabetes. Bariatric surgery is often done laproscopically and requires only small cuts and has fewer risks and faster recovery period. Growing preference for minimally invasive surgeries and less surgical scars, increasing incidence of obesity and diabetes worldwide, and rapid advancements in laproscopic procedures are key factors expected to drive market revenue growth over the forecast period.
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Bariatric surgery has been linked with a significant reduction in death rates for patients with severe obesity. Bariatric surgery restricts food intake and decreases absorption of food in stomach and intestine, in turn, reducing the amount of nutrients and calories absorbed by the patient. This enables them to lose weight and reduce the risk of obesity-related chronic complications and disorders significantly. Bariatric surgery is a viable approach for people with a BMI of 35 to 40 and having no comorbidities. Commonly performed bariatric surgeries are gastric banding, sleeve gastrectomy, Roux-en-Y gastric bypass, and biliopancreatic diversion. Bariatric surgery is considered as the first-line treatment in a patients with a BMI of 50 and up. Bariatric surgery has been considered as a viable therapeutic option for obesity and related complications in surgically appropriate candidates. Different types of surgical procedures need to be explored for each patient and tailored according to the risk and potential benefits of these procedures for each individual.
Bariatric surgeries have resulted in improved survival, longevity, and overall health among extremely obese patients. It has also led to a significant reduction in incidence of diabetes mellitus, cardiovascular disease, and overall mortality and these factors have further boosted demand for bariatric surgeries and is expected to contribute to revenue growth over the forecast period. However, increasing incidence of risks and complications associated with weight-loss surgery such as great leak rates, rising need for reoperation, and development of secondary hyperparathyroidism due to reduced calcium absorption after Roux-en-Y gastric bypass surgery are some major factors expected to restrain market growth to a significant extent over the forecast period.
COVID-19 Impact Analysis
- The virus outbreak and social distancing norms and restrictions severely disrupted the overall business landscape and operations worldwide.
- COVID-19 pandemic and lockdowns have resulted in several countries shutting down airports, ports, and commercial and domestic transportation. This had impacted manufacturing activities and operations globally and took a toll on the economy of various countries.
- Sudden and drastic downturn in economic activity caused a slowdown in manufacturing, production, import/export, and other sectors and also resulted in employment loss to a major extent.
- Supply impacts were further compounded due to challenges on the demand-side owing to reduced disposable income, depleting savings, and increased concerns and uncertainties.
- Emergence of variants of the virus and rise in infection rates during the initial waves and subsequent lockdowns has severely impacted operations and disrupted supply chains.
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Assisting Devices Segment to Register Rapid Revenue CAGR:
Assisting devices segment is expected to register rapid revenue CAGR over the forecast period owing to increasing use of these devices in minimally invasive surgeries that require immediate closure of incisions and rising availability of FDA-approved bariatric devices.
Rising Preference for Non-Invasive and Minimally-Invasive Surgeries:
Non-invasive or minimally-invasive surgeries segment is expected to account for largest revenue share over the forecast period attributable to its increasing preference for laparoscopic surgeries due to its numerous benefits such as smaller incisions and lesser surgical scars, shorter hospital stays and faster recovery, enhanced precision, fewer wound complications, and reduced need for pain medication.
Gastric Bypass Segment to Register Significant Revenue Growth:
Gastric bypass segment is expected to register significant revenue growth over the forecast period attributable to gastric bypass being the most commonly performed bariatric surgery and drastic reduction in weight after the surgery. Gastric bypass surgery has resulted in significant weight loss and improvement in major cardiovascular and metabolic risk factors and reduced rate of mortality in severely obese patients.
North America to Dominate Other Regions in Terms of Revenue Share:
North America is expected to dominate other regions in terms of revenue share over the forecast period owing to rapidly rising incidence of obesity, CVD, and diabetes due to unhealthy eating habits and lifestyles, increasing number of FDA approved bariatric devices, advancements in minimally invasive surgeries, and presence of key healthcare and medical devices companies in the region.
Major Companies in the Market Include:
- Medtronic PLC
- Allergan Inc.
- Braun Melsungen AG
- Johnson and Johnson
- Apollo Endosurgery, Inc.
- Conmed Corporation
- Intuitive Surgical, Inc.
- Mediflex Surgical Procedures
- GI Dynamics Inc.
For the purpose of this report, Emergen Research has segmented the global bariatric surgery market on the basis of device, surgery, procedure, end-use, and region:
Device Outlook (Revenue, USD Billion; 2018–2028)
- Implantable Devices
- Electrical Stimulation Devices
- Gastric Bands
- Gastric Emptying Systems
- Gastric Balloon Systems
- Assisting Devices
- Closure Device
- Suturing Device
- Stapling Device
Surgery Outlook (Revenue, USD Billion; 2018–2028)
- Invasive Surgery
- Non-Invasive Surgery
Procedure Outlook (Revenue, USD Billion; 2018–2028)
- Gastric Sleeve Surgery
- Adjustable Gastric Band
- Gastric Bypass
- Biliopancreatic Diversion with Duodenal Switch
End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Bariatric Surgery Clinics
- Ambulatory Surgical Centers
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest Of MEA
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