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Canada Bariatric Surgery Market Size (2024 - 2029)

The Canada Bariatric Surgery Market is anticipated to experience growth due to several factors, including an increasing number of obesity cases, government initiatives aimed at reducing obesity, and a rising prevalence of type 2 diabetes and heart diseases. The market's expansion is supported by the high and growing prevalence of obesity in Canada, which is expected to continue rising, thereby driving the demand for bariatric surgery services.

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Market Size of Canada Bariatric Surgery Industry

Canada Bariatric Surgery Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 2.80 %

Major Players

Canada Bariatric Surgery Market 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 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.

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Canada Bariatric Surgery Market Size Summary

The Canadian bariatric surgery market is poised for steady growth, driven by an increasing number of obesity cases and supportive government initiatives aimed at combating this health issue. The rising prevalence of type 2 diabetes and heart diseases further underscores the need for bariatric procedures. The market is characterized by the use of advanced surgical techniques, including laparoscopic port closure devices, which are essential for minimally invasive surgeries. These devices facilitate the safe closure of incisions, enhancing the efficiency and safety of surgical procedures. The growing demand for such technologies is expected to propel the market forward, as they are crucial in addressing the health risks associated with obesity.

The competitive landscape of the Canadian bariatric surgery market is moderately consolidated, with major players like Apollo Endosurgery Inc, Olympus Corporation, and Medtronic Plc leading the charge. These companies, along with smaller players, hold a significant share of the market. The ongoing expansion of the medical device sector is anticipated to attract new entrants, further intensifying competition. The high prevalence of obesity, particularly among males, and the associated health risks such as hypertension and heart disease, are key factors driving the market's growth trajectory. As the market evolves, it is expected to see continued innovation and investment, catering to the increasing demand for effective bariatric solutions.

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Canada Bariatric Surgery Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increase in Obesity Patients

      2. 1.2.2 Government Initiatives to Curb Obesity

      3. 1.2.3 Rising Prevalence of Type 2 Diabetes and Heart Diseases

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Surgery

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Device

      1. 2.1.1 Assisting Devices

        1. 2.1.1.1 Suturing Device

        2. 2.1.1.2 Closure Device

        3. 2.1.1.3 Stapling Device

        4. 2.1.1.4 Trocars

        5. 2.1.1.5 Other Assisting Devices

      2. 2.1.2 Implantable Devices

      3. 2.1.3 Other Devices

Canada Bariatric Surgery Market Size FAQs

The Canada Bariatric Surgery Market is projected to register a CAGR of 2.80% during the forecast period (2024-2029)

Medtronic PLC, Apollo Endosurgery Inc, Olympus Corporation, The Cooper Companies and 3M Company are the major companies operating in the Canada Bariatric Surgery Market.

Weight Loss Surgery Market in Canada Report Snapshots

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