Obesity is a medical condition which occurs due to excessive fat accumulation leading to adverse effect on health. Few of the prime reason for obesity are excessive food intake, less physical exercise and genetic susceptibility. According to the World Health Organization (WHO), the body mass index (BMI) greater than or equal to 25-30 kg/m² is known as overweight, and BMI greater than or equal to 30 kg/m² is considered as obesity. According to the WHO, globally, around 1.8 billion adults are overweight, and around 600 million of them were obese in 2014. In addition, around 40 million children below the age of five years were overweight. Bariatric surgery is one of the best treatment option for obesity and overweight.
Increasing obese population due to the rise in lifestyle diseases and sedentary lifestyle is one of the key factors to drive the global bariatric surgical procedures market over the forecast period 2017-2027. Similarly, growing trend of body toning and grooming therapy would have a greater importance on the aesthetic appearance leading to the market growth. Furthermore, increasing healthcare expenditure for obesity management, strategic collaborations among devices manufacturers and bariatric surgery service providers are is also anticipated to fuel the growth of this market over the forecast period. The increasing spending on healthcare per capita for quality patient care and various advanced treatments also boost the growth of the global bariatric surgical procedure market. However, the post-surgical complications and the cost associated with bariatric surgery might hamper the growth of the global bariatric surgical procedures market. On the other hand, the availability of weight management medications and other alternatives might lead to the decreasing growth rate of the market.
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The global market for bariatric surgical procedures is segmented on basis of surgery type, end user and geography:
- Segmentation by Surgery Type
- Gastric Bypass Surgery
- Adjustable Gastric Banding Surgery
- Gastric Sleeve Surgery
- Duodenal Switch Surgery
- Segmentation by End User
- Ambulatory Surgical Centers
Based on surgery type, the global bariatric surgical procedures market has been segmented into gastric bypass surgery, adjustable gastric banding surgery, gastric sleeve surgery, duodenal switch surgery and others. Gastric bypass surgery type dominated the market in 2016 and expected to do so throughout the forecast period. The gastric bypass surgeries are preferred by patients with diabetes and gastric reflux. Increasing innovation such as minimally invasive surgeries is expected to boost the adoption of surgical procedures leading to the market growth.
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Based on end user, the global bariatric surgical procedures market has been segmented into hospitals and ambulatory surgical centers. Hospitals are expected to contribute highest share in the global bariatric surgical procedures market over the forecast period due to large number of local and outpatient surgeries performed each year.
On the basis of regional presence, global bariatric surgical procedures market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to lead the global market due to high incidence rate of obesity in U.S. and Canada, while Europe is expected to hold second largest market share in the global market. Market in Asia-Pacific region is expected to witness significant growth owing to increasing case of diabetic and sedentary life leading to obesity. In addition, increasing healthcare expenditure related to weight loss treatment and growing trend of medical tourism is expected to boost the market growth in near future.
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Some of the players operating in global bariatric surgical procedures market are Medtronic Plc, Intuitive Surgical Inc., Allergan Inc., Johnson and Johnson, Pare Surgical, Inc and Mediflex, and TransEnterix Inc. among others. For sleeve gastrectomy companies such as Medtronic launched flagship devices representative the expansion of the global market.
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