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Tuesday, 21 May 2024
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Bariatric Surgeries Market is expected to reach US$ 27647.38 million by 2030

The global bariatric surgeries market is projected to grow from US$ 8546.66 million in 2022 to reach US$ 27647.38 million by 2030.

By The Insight Partners

Growing Demand for Minimally Invasive Surgeries Drive Bariatric Surgeries Market Growth 

According to our new research study on "Bariatric Surgeries Market Forecast to 2030 – Global Analysis – by Type and End User," the market was valued at US$ 8546.66 million in 2022 and is projected to reach US$ 27647.38 million by 2030; it is estimated to register a CAGR of 15.8% from 2022 to 2030.

Over a period of time, there has been significant growth in the prevalence of chronic disorders, leading to an increase in surgical procedures. Invasive surgical procedures have high risk factors, and patients recover longer. These procedures have a high risk of infections and a high rate of complications on a global level. To overcome the consequences of invasive procedures, healthcare professionals prefer minimally invasive procedures. Healthcare professionals are more inclined toward minimally invasive procedures due to various advantages such as shorter recovery periods, limited to no complications, high success rates, and reduced procedure time. As per North Kansas City Hospital (NKCH), ~15 million laparoscopic procedures are performed in the US annually. Additionally, an increase in minimally invasive procedures led to product launches and development of specialized instruments that help during the surgery.

Bariatric Surgeries Market, by Type – 2022 and 2030

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00030118

The positive outcomes of minimally invasive surgeries have increased the inclination toward minimally invasive bariatric surgeries as market players focus on developing and launching advanced products. Nowadays, several minimally invasive bariatric surgeries are performed, including laparoscopic gastric bypass, laparoscopic sleeve gastrectomy, and laparoscopic gastric binding. As per the National Health Institutes 2022 report, nowadays, ~90% of gastric bypasses are done laparoscopically, with a death rate of 0.22%, which is less than 0.82% for open surgery. Each procedure has advantages and disadvantages, and the choice will depend on the medical history and patient needs. Moreover, the rising inclination toward non-invasive bariatric devices is expected to proliferate the market growth. Various manufacturers focus on developing gastric balloons, which can be placed into the stomach through endoscopy procedures and easily removed when required. These balloons have limited to no side effects with positive outcomes. Therefore, the surge in minimally invasive bariatric surgeries, the launch and development of specialized instruments, and positive patient outcomes contribute to the growth of the bariatric surgeries market.

The bariatric surgeries market is segmented as follows:

The bariatric surgeries market is segmented based on type, end user, and geography. The bariatric surgeries market, by type, is segmented into adjustable gastric bands (AGB), sleeve gastrectomy, gastric bypass, biliopancreatic diversion with duodenal switch (BPD-DS), and others. In 2022, the sleeve gastrectomy segment held the largest market share, and the gastric bypass segment is estimated to register the fastest CAGR during 2022–2030. In sleeve gastrectomy, the stomach is divided and stapled vertically by removing more than 85% of stomach, forming a banana-shaped pouch or tube limiting the amount of food ingested and absorbed by the body. In this surgery, most of the stomach is removed, lowering levels of the hormone ghrelin, which is responsible for appetite, along with limiting food intake and its absorption. Risks of sleeve gastrectomy include heartburn, stomach ulcers, gastritis, injury to the intestines, stomach, or other organs during surgery, and vomiting. Also, poor nutrition and scarring inside the belly could lead to a future blockage in the bowel.

Region Analysis – Bariatric Surgeries Market

In terms of geography, the global bariatric surgeries market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America is anticipated to hold the largest market share during 2022–2030. The market in this region is further divided into the US, Canada, and Mexico. North America holds the largest share of the bariatric surgeries market. The market growth in the region is attributed to increasing burden of obesity, rising government initiatives to curb obesity, and a surging number of mergers, collaborations, and partnerships among market players. In addition, the significantly growing prevalence of diabetes is propelling the demand for bariatric surgeries. The bariatric surgeries market in the US is primarily driven by the increasing burden of obesity and growing prevalence of diabetes. The demand for bariatric surgeries has increased remarkably over the past few years to reduce burden of associated a wide range of chronic diseases.

The Asia Pacific bariatric surgeries market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Collaborations between companies widely drive the growth of the bariatric surgeries market in this region, the rising incidence of diabetes, and an increasing number of obese people. Growing cases of chronic diseases such as diabetes and heart disease are driving the market growth in India, as the obese population in the country is increasing. Diabetes significantly affects individuals with higher body fat percentages. Thus, patients prefer bariatric surgeries, including minimally invasive surgeries such as gastric bands and balloons. According to the International Diabetes Federation (IDF), about 74 million population in India suffered from diabetes in 2021, and this number is expected to reach 124 million by 2045. Thus, the expected increase in the diabetic population aggravates the risk of getting overweight, fueling the demand for bariatric surgeries for weight loss to prevent the risk of developing other chronic diseases such as heart disease and organ dysfunction. 

Several market players are adopting organic strategies to stay competitive in the market. For instance, in September 2022, Allurion launched its swallowable gastric balloon capsule in India for weight loss. According to Allurion, it is the only medical weight-loss device fully approved by the Central Drugs Standard Control Organisation (CDSCO). In June 2021, Intuitive launched the Robotic-Assisted Surgical Stapler SureForm with Smart Fire technology. Surgical stapling with robotic staplers is the most advanced choice available to surgeons for the transection, resection, and/or creation of anastomosis.  

Intuitive Surgical Inc, Integra LifeSciences Holdings Corp, Apollo Endosurgery Inc, Conmed Corp, Medtronic Plc, Ethicon USA LLC, Olympus Corp, Reshape Lifesciences Inc, Spatz FGIA Inc, and Helioscopie SA are among the leading companies operating in the bariatric surgeries market.

 

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