The detailed analysis of the global bariatric surgery market shows that, in terms of revenue, the industry is estimated to grow at a CAGR of 9.41% during the forecasting years 2019-2028. The market that was valued at $2187.6 million in 2019, is expected to reach $4913.1 million by the year 2028. Bariatric surgery or weight loss surgery is used as one of the major treatment procedures for obesity. It is generally the last option for patients who failed to lose weight by several other methods.
According to the Office of Disease Prevention and Health Promotion, more than 80% of adults in the Americas did not meet the guidelines for both aerobic and muscle-strengthening activities. As the incidence of obesity is growing worldwide, the number of bariatric surgeries in total is anticipated to increase, which is expected to boost the bariatric surgery market during the forecast period.
The study aims to get an overview of the bariatric surgery market in terms of various factors. Within this report by Triton Market Research, the key insights and the market definition regarding the bariatric surgery industry have been discussed. Also, value chain analysis, Porter's five forces model and market attractiveness index have been studied in detail.
Market drivers like increasing prevalence of diabetes & cardiac diseases and surging obesity rates are driving the bariatric surgery market growth. However, the industry is facing market restraints like a lack of awareness among patients, which is obstructing the industry growth. Key opportunities like technological advancements and a rise in government initiatives towards reducing obesity can be leveraged by the industry to reach the projected growth. However, challenges such as high costs related to bariatric surgeries are being faced by this market.
Geographies covered in the bariatric surgery market by region are:
• North America: United States and Canada
• Europe: Germany, United Kingdom, Spain, Italy, Russia, France and Rest of Europe
• Asia-Pacific: Japan, China, India, South Korea, ASEAN countries, Australia & New Zealand and Rest of Asia-Pacific
• Latin America: Mexico, Brazil and Rest of Latin America
• Middle East and Africa: Saudi Arabia, Turkey, South Africa, United Arab Emirates and Rest of Middle East & Africa
The bariatric surgery market has been segmented as follows:
• By Device
o Assisting Device
• Closure Device
• Suturing Device
• Trocars
• Stapling Device
• Other Assisting Devices
o Implantable Device
• Gastric Balloon
• Gastric Band
• Electrical Stimulation Device
• Gastric Emptying
o Other Devices
The key players engaged in the bariatric surgery market are GE Healthcare (General Electric Company), Olympus Corporation, Abbott, Conmed Corporation, Apollo Endosurgery Inc, The Cooper Companies Inc, Allergan, B. Braun Melsungen AG, Ethicon Inc (Johnson & Johnson), Reshape Lifesciences Inc, Lupin, Aspire Bariatrics, Intuitive Surgical and Medtronic. The strategic analysis for each of these companies has been covered in detail. The bariatric surgery market by company profiles helps to dive into the data about the key players in this industry.