Bariatric Surgery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Bariatric Surgery Market Analysis

The Bariatric Surgery Market is poised to grow at a CAGR of 5.7% during the forecast period, 2022-2027.

On the market, the COVID-19 pandemic is anticipated to have a significant effect. The diagnostic and surgical industries have been impacted by the global lockdown measures, which have also decreased public mobility. As per the American Society for Metabolic & Bariatric Surgery (ASMBS), bariatric surgeries are considered non-emergent procedures, as a result, these procedures were on hold and their success rate has declined. As per a recent study 'Bariatric Surgery During the COVID-19 Pandemic the Perspective of Physicians and Patients', in September 2020, virtual consultation and telemedicine were considered suitable to continue weight loss programs, as the risks and complications of morbid obesity and surgery during the COVID-19 pandemic were high. The obese population is vulnerable to psychological and physiological conditions, which have hurt the pandemic's management of obesity. According to the Lancet article 'Bariatric and metabolic surgery during and after the COVID-19 pandemic' 2020, the pandemic has had a significant impact on obesity treatment, putting millions of children, adolescents, and adults at risk for worsening comorbidities, limiting their access to care and raising their chances of having poor COVID-19 outcomes. Thus, a large number of COVID-19 positive patients and its significant effect on healthcare systems across the world are responsible for the decline in several bariatric procedures and thereby negatively impacted the market in 2020 and slightly in 2021.

The major factors attributing to the growth of the bariatric surgery market are an increase in obesity among people and a rising prevalence rate of Type 2 diabetes and heart diseases. People with more fat in their bodies are highly likely to be affected by diabetes. Hence, patients are taking certain measures to prevent obesity with bariatric surgeries. For instance, according to the World Health Organization (WHO) May 2022 report on the European region, in the WHO European Region, over 60% of adults and 29% of boys and 27% of girls who are children are overweight or obese and also, as per the same report, overweight and obesity rank fourth among the risk factors for non-communicable diseases in the region, after high blood pressure, unhealthy eating, and cigarette use. Further, according to the December 2021 report of the International Diabetes Federation, it is estimated that about 537 million adults in the age group of 20-79 years were living with diabetes in 2021 across the world and this number is projected to increase to 643 million by 2030. Hence, owing to the high burden of obesity and the increasing prevalence of risk factors for obesity are expected to fuel growth in the bariatric surgery market over the forecast period.

Additionally, the rising prevalence of obesity increases the demand for bariatric surgery, which helps the market expand. According to the World Health Organization in June 2021, there were 39 million under-five years old kids who were overweight or obese 2020. In addition, it was estimated that 38.2 million kids under the age of 5 were overweight or obese in 2019. Overweight and obesity, once thought to be a problem only in high-income nations are now becoming more prevalent in low- and middle-income nations as well, especially in urban areas. Since 2000, there has been a nearly 24% increase in the proportion of under-five overweight children in Africa. Moreover, World Obesity Atlas March 2022 published by the World Obesity Federation, predicts that by 2030, one billion people worldwide, including one in five women and one in seven men, will have obesity. As a result, the market for bariatric surgery is anticipated to grow over the projection period due to the rising prevalence of obesity and the increased need for the procedure.

Furthermore, the market expansion is supported by a variety of strategies employed by the major market players, such as funding for research and development to broaden the scope of bariatric surgery. For Instance, In June 2021, Cincinnati-based Standard Bariatrics, Inc., developed the Titan SGS, a first-of-its-kind design that offers surgeons to perform sleeve gastrectomy, the top bariatric surgical procedure for obesity disease. Additionally in June 2021, to expedite the development and commercialization of their first bariatric surgical platform for sleeve gastroplasty, Standard Bariatrics has secured USD 35 million in Series B funding.

Therefore, it is clear that the growing prevalence of diabetes and obesity will significantly drive the market for bariatric surgery over the upcoming years. However, the high cost of surgery may restrain the market growth.

Bariatric Surgery Market Trends

This section covers the major market trends shaping the Bariatric Surgery Market according to our research experts:

Gastric Balloons is Expected to Record a High CAGR in the Implantable Device Segment

Bariatric Surgery Industry Segmentation

Bariatric surgery or weight loss surgery is used as one of the major treatment procedures for treating obesity. It is generally the last option for patients who have failed to lose weight by several other means. During this procedure, the size of the stomach is reduced by either removing some parts of the stomach or by using a gastric band. The Bariatric Surgery Market is segmented by Device (Assisting Devices, Implantable Devices, and Other Devices) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.