The Asia Pacific Bariatric Surgery Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 9.68% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increase in the number of obese patients and the rising prevalence rate of type-2 diabetes and heart diseases.
Obesity is referred to a metabolic dysfunction and is often related with a wide range of chronic illnesses that cause significant increases in mortality. Obesity is associated with significant rise in premature mortality, impaired quality of life, and a substantial amount of healthcare costs.
According to Australian Bureau of Statistics’ National Health Survey, in 2017-2018, about two thirds (67%) of Australian adults were overweight or obese (12.5 million people), up from 63.4% in 2014-2015. It is also indicated that almost one quarter (24.9%) of children who are aged 5-17 years were overweight or obese in 2017-2018 (17% overweight and 8.1% obese).
Bariatric surgery refers to a medical procedure that aids the weight loss by either absorption of the calories or the limiting the capacity of the stomach. This is the most effective weight loss therapy available for patients with morbid obesity, and it involves either open or laparoscopic techniques.
The Covid-19 pandemic had a positive impact on the bariatric surgery market. The market observed rise in demand for bariatric surgery owing to high patient turnaround volume and prevailing medical conditions.
Market Trends, Drivers, Restraints, and Opportunities
Increasing number of obese patients is expected to drive the market during the forecast period.
Rising prevalence rate of type-2 diabetes and heart diseases are anticipated to surge the market in coming years.
Growing demand for minimally invasive surgical procedures is likely to propel the bariatric surgery market
Increasing unmet medical needs are likely to spur the market.
Rising healthcare expenditure is anticipated to fuel the future growth of the market.
R&D investment and technological advancement in Asia-Pacific bariatric surgery market are expected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the Asia-Pacific bariatric surgery market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Asia-Pacific Bariatric Surgery Market -Industry Analysis, Growth, Share, Size, Trends, and Forecast
Device (Assisting Devices, Implantable Devices, and Others)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Medtronic PLC; Johnson and Johnson (Ethicon Inc); Olympus Corporation; Conmed Corporation; and Apollo Endosurgery Inc.
Market Segment insights
The stapling device segment is projected to constitute a large market share
Based on device, the Asia-Pacific bariatric surgery market is segregated into assisting devices, implantable devices, and others. The assisting devices are further divided into suturing device, closure device, stapling device, trocars, and others The stapling device segment is expected to account for a key share of the market during the forecast period owing to it being the most preferred device in the market as it tends to result in greater and more consistent weight loss among patients, along with a greater reduction in obesity-related health problems. Furthermore, increasing prevalence of obesity is anticipated to boost the segment growth.
The Asia-Pacific bariatric surgery market has been segmented on the basis of
- Assisting Devices
- Implantable Devices
- Medtronic PLC
- Johnson and Johnson (Ethicon Inc)
- Olympus Corporation
- Conmed Corporation
- Apollo Endosurgery Inc
Key players competing in the Asia-Pacific bariatric surgery market include Medtronic PLC; Johnson and Johnson (Ethicon Inc); Olympus Corporation; Conmed Corporation; and Apollo Endosurgery Inc.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.