Bariatric Surgeries Market Expected to Reach $3,116.48 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Bariatric Surgeries Market," The bariatric surgeries market size was valued at $1,643.81 million in 2021 and is projected to reach $3,116.48 million by 2031, growing at a CAGR of 6.6% from 2022 to 2031. The bariatric surgeries market analysis from 2021 to 2031 to identify the prevailing bariatric surgeries market opportunities. The major factors driving the growth of bariatric surgery market are increase in number of people suffering from obesity and rise in awareness of bariatric surgery along with various advancements in bariatric surgery. For instance, according to a report of World Obesity Atlas 2022, by 2030, 1 in 5 women and 1 in 7 men are anticipated to be living with obesity equating to over 1 billion people globally, thus increasing the prevalence of obesity, which is expected to drive the growth of market bariatric surgeries market size. 

In addition, obesity is increasing in children. For instance, according to report of World Health Organization (WHO) 2021, 39 million children under-five years old were overweight or obese in 2020 as compared to 38.2 million in 2019. Thus, rise in prevalence of obesity in children is expected to drive the growth of market. Rise in technological advancements in bariatric surgery is expected to propel the market expansion during the forecast period. The development of new surgical techniques has made bariatric surgery safer, more effective, and less invasive. For instance, laparoscopic surgery is the standard of care in bariatric surgery and has greatly reduced the risk of complications and shortened recovery times. Thus, rise in innovative product development is anticipated to drive the growth of bariatric surgeries market share.

Moreover, improvements in surgical methods for bariatric surgery and accessibility of centers for surgery are anticipated to drive the growth of bariatric surgeries market share. Moreover, surge in focus on health and wellbeing further fuels the growth of bariatric surgery market.   

Furthermore, rise in adoption of strategies such as funding and partnership to cater the demand for bariatric surgery is anticipated to drive the growth of bariatric surgeries market trends. For instance, in June 2021, Standard Bariatrics received $35M series B funding to accelerate development and commercialization of their first bariatric surgical platform for sleeve gastrectomy. Thus, rise in adoption of such strategies is expected to drive the growth of bariatric surgery market.  

However, the high cost of treatment restrains the growth of the bariatric surgery market. Conversely, the rise in awareness about bariatric surgery is an opportunity for the growth of the bariatric surgery market.Depending on device, the market is divided into assisting devices, implantable devices, and others. The assisting devices segment accounted for the largest share in terms of revenue in 2021 and is expected to register highest CAGR owing to rise in adoption of these devices for bariatric surgery.  

On the basis of procedure, the market is classified into sleeve gastrectomy, gastric bypass, and others. The sleeve gastrectomy segment dominated the market in terms of revenue in 2021. This is attributed to rise in adoption of these procedures owing to effectiveness of sleeve gastrectomy over other procedures and relatively low risk of complications associated with sleeve gastrectomy. Moreover, the gastric bypass segment is projected to register the highest CAGR during the bariatric surgeries market forecast period, owing to shorter recovery time and high success rate of these procedure as compared to other procedures.  

On the basis of end user, the bariatric surgeries industry is bifurcated into hospitals and others. The hospitals segment accounted for the largest share in 2021 and is expected to register the highest CAGR during the forecast period owing to availability of highly qualified healthcare practitioners and increase in health coverage for hospital-based healthcare services from several private & group insurance programs.   

Region wise, North America had the highest market share in 2021, and is expected to maintain its lead during the forecast period, owing to increase in prevalence of obesity, higher adoption of bariatric surgeries, and rise in healthcare infrastructure. In addition, presence of higher number of key market players manufacturing bariatric surgery devices and increase in awareness regarding health & well-being further drives the bariatric surgeries industry growth in this region. However, Asia-Pacific is expected to witness highest growth during the forecast period, owing to factors such as rise in obesity rates and increase in adoption of bariatric surgery for weight loss procedures. The surge in investments for manufacturing of high-quality devices used in bariatric surgery, in this region further propel the market growth. 

According to Onkar Sumant, Manager, Healthcare at Allied Market Research, “growth of the bariatric surgeries market is driven by increase in demand for weight loss surgeries, due to rise in prevalence of obesity.” 

Key Findins of The Study  

• Based on device, the assisting devices segment held largest share in the global market in 2021. 

• On the basis of procedure, the sleeve gastrectomy segment held largest market share in 2021. 

• On the basis of end user, hospitals segment dominated the market in 2021. However hospitals segment is anticipated to grow at the highest CAGR during the forecast period. 

• On the basis of region, North America held largest share in the global market in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.