South Korea Bariatric Surgery Market Outlook
The South Korea Bariatric Surgery size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 1% during 2023–2031. The growth of the market is attributed to rising prevalence rate of Type 2 diabetes and heart diseases.
A bariatric medical procedure is a surgical procedure performed on obese people to make changes to their digestive system in order to help them reduce weight. The surgery effectively reduces the risks of type 2 diabetes, hypertension, sleep apnea, osteoarthritis, dyslipidemia, asthma, and gastro esophageal reflux disease (GERD), which are the common side-effects of obesity.
Bariatric medical procedure or weight reduction medical procedure is utilized as one of the significant therapy methods for obesity. During this method, the size of the stomach is diminished by removing some piece of the stomach or utilizing a gastric band. Gastric bypass, sleeve gastrostomy, adjustable gastric band, and biliopancreatic redirection with a duodenal switch are most broadly involved equipment in bariatric systems.
Body Mass Index (BMI) assumes a significant part in determining whether a person is obese. Bariatric medical procedure is generally suggested for individuals with BMI over 40. It utilized to work on the wellbeing of the patients with weight in lessening reducing the risk of life-threatening diseases
South Korea Bariatric Surgery Market Trends, Drivers, Restraints, and Opportunities
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Rising incidences of obesity in South Korea is estimated to accelerate the growth of the market.
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Increasing demand for minimally invasive surgeries is one of the key factors fueling the market growth.
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Rising implementation of new technologies along increasing number of manufacturing of such devices is estimated to drive the market growth.
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Increasing number of gastric sleeve and gastric bypass surgeries, rising cosmetic concerns among individuals, and rapid integration of robotics in surgeries are some of the major factors fueling the growth of the market.
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Expanding government funding for bariatric surgery in developed South Korea, is one of the major factors driving the market growth.
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High cost of some devices can restrain the growth of the market.
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Increase in adoption of these surgeries is expected to create lucrative opportunity for the South Korea bariatric surgery market.
Scope of South Korea Bariatric Surgery Market Report
The report on the South Korea bariatric surgery market includes an assessment of the market, trends, segments, and Geography markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Bariatric Surgery Market - South Korea Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Devices (Assisting Devices [Suturing Device, Closure Device, Stapling Device, Trocars and Others] and Implantable Devices [Gastric Bands, Electrical Stimulation Devices, Gastric Balloons, Gastric Emptying and Others])
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Country Scope
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South Korea
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Conmed Corporation Apollo Endosurgery Inc.; Ethicon Inc.(Johnson and Johnson); Aspire Bariatrics Inc.; Intuitive Surgical Inc.; B.Braun Melsungen AG; Olympus Corporation; and The Cooper Companies.
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South Korea Bariatric Surgery Market Segment Insights
Assisting devices segment is expected to grow at a robust pace
Based on devices, the market is segregated into assisting devices and implantable devices. The assisting devices segment is further classified as suturing device, closure device, stapling device, trocars and others. The implantable devices segment is further segmented into gastric bands, electrical stimulation devices, gastric balloons, gastric emptying and others.
The closure device sub segmented anticipated to account for a significant market share during the forecast period. Closure devices are utilized for reconnecting tissues during surgical procedures and for closing incisions made by trocars. The laparoscopic port closure device effectively and safely closes port sites in obese patients going through bariatric procedures and medical procedures. The main factors driving the segment is wide use in minimally invasive surgeries that require immediate closure of very small incisions made at the time of surgical procedures.
Segments
The South Korea bariatric surgery market has been segmented on the basis of
Devices
- Assisting Devices
- Suturing Device
- Closure Device
- Stapling Device
- Trocars
- Others
- Implantable Devices
- Gastric Bands
- Electrical Stimulation Devices
- Gastric Balloons
- Gastric Emptying
- Others
Country
Key Players
Competitive Landscape
Key players competing in the South Korea bariatric surgery market are Conmed Corporation Apollo Endosurgery Inc.; Ethicon Inc(Johnson and Johnson); Aspire Bariatrics Inc.; Intuitive Surgical Inc.; B.Braun Melsungen AG; Olympus Corporation; and The Cooper Companies.
In August 2019, Sentinel Capital Partners, a private equity firm, declared that it has gained SSJA Bariatric Management, LLC. SSJA is the main supplier of authoritative help administrations to bariatric medical procedure workplaces in New York. The organization assists SSJA in growing business geographically and extend its service offerings into different business sectors also.
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