Bariatric Surgery Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Bariatric Surgery market in 2021?

The global bariatric surgery market size in 2021 was valued at USD 4.3 billion, with a Compound Annual Growth Rate (CAGR) of 5.8% from 2021 to 2027. Bariatric surgery, also known as weight loss surgery, is a medical procedure performed on people who are obese to help them lose weight. The market has been witnessing steady growth due to the increasing prevalence of obesity worldwide and the rising awareness about the health benefits of bariatric surgery.

COVID-19 Impact on the Bariatric Surgery Market

The COVID-19 pandemic has had a mixed impact on the bariatric surgery market. On one hand, the pandemic led to the temporary suspension of non-essential surgeries, including bariatric procedures, which resulted in a decline in the number of surgeries performed in 2020. However, as healthcare systems adapted to the new normal and implemented safety measures, the market rebounded in 2021, with an increase in the number of bariatric surgeries being performed.

Bariatric Surgery Dynamics

The bariatric surgery market is driven by several factors, including the increasing prevalence of obesity, growing awareness about the health benefits of weight loss surgery, and advancements in surgical techniques. Additionally, the rising demand for minimally invasive procedures and the availability of reimbursement options for bariatric surgeries are contributing to the market growth. On the other hand, factors such as high costs associated with bariatric surgery and the risk of complications are restraining the market growth.

Segments and Related Analysis

The bariatric surgery market can be segmented based on procedure type, device type, and end-user. Procedure types include sleeve gastrectomy, gastric bypass, adjustable gastric banding, and others. Device types comprise stapling devices, energy/vibration devices, suturing devices, and others. End-users of bariatric surgery services include hospitals, ambulatory surgical centers, and specialty clinics. The market analysis of these segments helps in understanding the overall market landscape and future growth prospects.

By Region Analysis

In terms of region, North America dominated the bariatric surgery market in 2021, owing to the high prevalence of obesity in the region and the presence of advanced healthcare infrastructure. Europe and Asia Pacific followed closely behind, with growing awareness about bariatric surgery procedures and increasing investments in healthcare facilities driving market growth. Latin America and Middle East & Africa are also witnessing a rise in demand for bariatric surgery services due to changing lifestyles and increased disposable income.

Key Market Players and Competitive Landscape

Key players in the bariatric surgery market include Johnson & Johnson, Medtronic, Intuitive Surgical, Ethicon, Olympus Corporation, Karl Storz, CONMED Corporation, and others. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. The competitive landscape of the bariatric surgery market is intense, with players striving to offer advanced and cost-effective solutions to meet the evolving needs of patients and healthcare providers.

Recent Happenings in the Bariatric Surgery Market

In recent years, the bariatric surgery market has witnessed several developments aimed at improving surgical outcomes and patient experience. For instance, the introduction of robotic-assisted surgery systems has revolutionized the field of bariatric surgery by enabling precise and minimally invasive procedures. Additionally, advancements in surgical techniques, such as laparoscopic sleeve gastrectomy and gastric bypass, have reduced post-operative complications and recovery times, leading to higher patient satisfaction rates. The market continues to evolve with new technologies and innovations that promise to further enhance the effectiveness and safety of bariatric surgeries.