Canada Bariatric Surgery Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.80 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Canada Bariatric Surgery Market Analysis
The Canada Bariatric Surgery Market is expected to register a CAGR of 2.8% during the forecast period. There are certain factors propelling the growth of the market, includes increasing obesity patients, growing government initiatives to curb obesity, and rising prevalence rate of type 2 diabetes and heart diseases.
As per statistics Canada, in 2018, in Canada, approximately 7.3 million adults who were 18 years and older (26.8%) were obese. Another 9.9 million adults (36.3%) were classified as overweight. Moreover, the total population with increased health risks due to excess weight was 63.1% in 2018. This was an increase from 61.9% in 2015.
Furthermore, as per the Organisation for Economic Co-operation and Development (OECD) suggested that in Canada, the prevalence of obesity will continue to rise at a predicted rate of 4-5% per year. Therefore, a high prevalence of obesity in the country is expected to drive the market in the coming years.
Canada Bariatric Surgery Market Trends
This section covers the major market trends shaping the Canada Bariatric Surgery Market according to our research experts:
Closure Device is Expected to Register a High CAGR in the Assisting Device Segment
Closure devices are used for reconnecting tissues during surgical procedures and for closing incisions made by trocars. The laparoscopic port closure device successfully and safely closes port sites in obese patients undergoing bariatric procedures and surgeries. The closure devices segment is expected to register high growth, as they are widely used in minimally invasive surgeries that require immediate closure of very small incisions made at the time of surgical procedures.
As per statistics Canada, in 2018, the proportion of adults who were overweight or obese was higher among males (69.4%) than among females (56.7%). In fact, the proportion who were overweight or obese was higher for males for all age groups starting at age 20. In Canada, adults who were obese were also more likely to be diagnosed with high blood pressure (29.5%) and heart disease (6.0%) among adults with a normal weight, the prevalence was 9.5% for high blood pressure and 2.7% for heart disease.
Therefore, the high prevalence of obesity among adults are at high risk for hypertension, and other heart diseases which is expected to drive the segment over the forecast period.
Canada Bariatric Surgery Industry Overview
The Canadian bariatric surgery market is moderately consolidated competitive with the presence of major players, such as Apollo Endosurgery Inc, Olympus Corporation, and Medtronic Plc. The market is also inclusive of the smaller players that hold a substantial market share. With the growing medical device market, it is expected that a few more new players will be penetrating the market in the coming future.
Canada Bariatric Surgery Market Leaders
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Medtronic PLC
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Apollo Endosurgery Inc
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Olympus Corporation
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The Cooper Companies
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3M Company
*Disclaimer: Major Players sorted in no particular order
Canada Bariatric Surgery Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increase in Obesity Patients
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4.2.2 Government Initiatives to Curb Obesity
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4.2.3 Rising Prevalence of Type 2 Diabetes and Heart Diseases
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4.3 Market Restraints
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4.3.1 High Cost of Surgery
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Device
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5.1.1 Assisting Devices
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5.1.1.1 Suturing Device
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5.1.1.2 Closure Device
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5.1.1.3 Stapling Device
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5.1.1.4 Trocars
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5.1.1.5 Other Assisting Devices
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5.1.2 Implantable Devices
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5.1.3 Other Devices
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Medtronic PLC
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6.1.2 Apollo Endosurgery Inc
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6.1.3 Olympus Corporation
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6.1.4 The Cooper Companies
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6.1.5 3M Company
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6.1.6 ReShape Lifesciences Inc
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6.1.7 GI Dynamics
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Canada Bariatric Surgery Industry Segmentation
As per the scope of the report, 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 Canada Bariatric Surgery Market is segmented by the device.
Canada Bariatric Surgery Market Research FAQs
What is the current Canada Bariatric Surgery Market size?
The Canada Bariatric Surgery Market is projected to register a CAGR of 2.80% during the forecast period (2024-2029)
Who are the key players in Canada Bariatric Surgery Market?
Medtronic PLC, Apollo Endosurgery Inc, Olympus Corporation, The Cooper Companies and 3M Company are the major companies operating in the Canada Bariatric Surgery Market.
What years does this Canada Bariatric Surgery Market cover?
The report covers the Canada Bariatric Surgery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Canada Bariatric Surgery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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