Selbyville, Delaware, According to the research report titled ‘Global Bariatric Surgery Market Size study, by Devices, Procedure, by Surgery, by End-User and Regional Forecasts 2020-2027‘, available with Market Study Report LLC, global bariatric surgery market was remunerated at USD 2.2 billion in 2019 and is expected to grow with a CAGR of 9% during 2020-2027.
Growing cases of obesity, increasing number of FDA approvals for bariatric surgery devices, and technological advancements in equipment are expected to drive the growth of global bariatric surgery market during 2020-2027.
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For the unfamiliar, bariatric surgery is the prevalent treatment procedure for obesity. The surgery involves reduction of stomach size either by using a gastric band or by restricting the amount of food that stomach can hold. Widely known gastric procedures include gastric bypass, adjustable gastric band, biliopancreatic diversion with duodenal switch, and sleeve gastrectomy. Medical professionals recommend bariatric surgery to the individuals having body mass index (BMI) above 40. It improves the health of person having obesity, thereby reducing the risk of life-threatening diseases.
The COVID-19 pandemic has increased stress levels in obese people, changed the way of life, and put pressure on healthcare system. The patient care is being handled remotely using virtual care models like mobile phones and online modalities that extends the reach of services to people after bariatric surgery to ensure quality of life. Hence, high adoption of virtual care in bariatric surgery programs to serve patient’s needs is expected to create ample of opportunities for clinical and implementational scientific research, thereby contributing to the market growth in coming years. However, health-related risks associated with surgery and high treatment cost may hamper the market outlook over 2020-2027.
Key players operating in global bariatric surgery market size include Medtronic plv, Ethicon US LLC, B. Braun Melsungen AG, Allergan Inc., Cook Medical, Olympus Corp., Intuitive Surgical, Conmed Corporation, Cousin Biotech, and Apollo Endosurgery Inc.
Based on the device type, global bariatric surgery industry is divided into implantable devices and assisting devices. With regards to the surgery, the industry is bifurcated into invasive surgery and non-invasive surgery. While as per end-user spectrum, the market is segmented into hospital pharmacies, ambulatory surgical centers, and bariatric surgery clinics.
With reference to the regional overview, global bariatric surgery market size is classified into Asia Pacific, North America, Europe, Latin America, and rest of the world. North America market is poised to be the major contributor in terms of revenue during 2020-2027, mainly due to the increasing obese population and dense presence of device manufacturers in the region. Whereas, Asia-Pacific bariatric surgery market is projected to witness substantial growth during 2020-2027, owing to constant improvements in healthcare infrastructure in the region.
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