Triton Market Research’s report on the Latin American bariatric surgery market illustrates that the industry is anticipated to proliferate at a CAGR of 8.83% in terms of revenue, during the forecasted period 2019-2028.
The countries reviewed in the Latin American bariatric surgery market are:
• Mexico
• Brazil
• Rest of Latin America
As per the Food and Agriculture Organization report, Chile ranks second in the cases of obesity among the nations of OECD (Organization for Economic Co-operation and Development). The rising burden of obesity is likely to increase the number of people adopting bariatric surgery in the region, thereby contributing to the market growth in Rest of Latin America.
According to the statistics provided by Global Food Cultures in 2019, Mexico ranks second in terms of obesity rate across the globe. The country is facing an obesity endemic. It is reported that about 24.3 million adults were obese in 2016, and this number is expected to increase further. With the increasing adoption of bariatric surgery for reducing obesity, many people from all over the world are visiting Mexico owing to the cost-effective option and better quality treatment.
Bariatric surgical procedures offered in the country include gastric balloon surgery in Cancun, gastric bypass (RYGB), sleeve gastrectomy in Mexico and gastric sleeve (VSG) in Tijuana. These surgeries are offered at very low prices. Mexico is reported as one of the popular destinations for weight loss surgery because the average cost of weight loss surgery is about 70% lower than that of the US. All these factors indicate an increase in the demand for bariatric surgery market in Mexico, thus proliferating the growth rate in the next few years.
Allergan is a pharmaceutical company engaged in the developing, manufacturing, marketing and distribution of pharmaceutical products, over-the-counter (OTC) pharmaceutical products and medical aesthetics. The company provides products for eye care, central nervous system, gastroenterology, medical aesthetics & dermatology, urology, women’s health and anti-infective therapeutic categories.
Some key players in the bariatric surgery market are B. Braun Melsungen AG, The Cooper Companies Inc, Apollo Endosurgery Inc, Olympus Corporation, GE Healthcare (General Electric Company), Aspire Bariatrics, Lupin, Intuitive Surgical, Conmed Corporation, Reshape Lifesciences Inc, Medtronic, Abbott, Ethicon Inc (Johnson & Johnson) and Allergan.