22 February 2021
Visiongain has published a new report on Bariatric Surgery Market Report to 2031. Profiles of Leading Bariatric Surgery Market players, Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Bariatric Surgery Market Report Market was valued at US$XXX billion in 2021 and is projected to reach at a market value of US$XXX billion by 2031. The global Bariatric Surgery Market has been growing considerably owing to the rising incidence and prevalence rate of diabetes coupled with rising obese population around the globe. The rising awareness campaigns, and significant government initiatives are also creating huge scope for the bariatric surgery market. Additionally, the rising healthcare expenditure, growing disposable income, and rising investment in R&D will create significant opportunities for the global Bariatric Surgery market. However, the side effects associated with the Bariatric Surgery and high cost of bariatric procedures will affect the growth of the market.
COVID-19 Impact on the Global Bariatric Surgery Market
The global Bariatric Surgery market has been impacted by the COVID-19 pandemic. The COVID19 pandemic turned out to be a massive roadblock for the growth of the bariatric surgery. The COVID19 affected the global economy since there were serious hindrances caused due to complete lockdowns and stern social distancing measures. Initially, the COVID-19 was emerged in Wuhan city of China, in December 2019. Within few months it reached to more than 200 countries. According to worldometers, over 54.6million cases of COVID-19 were registered till 15th November 2020, around the globe with around 1.32 million fatalities.
Rising incidence and prevalence of Diabetes
Diabetes is increasing significantly across the world. The rising incidence and prevalence rate of Diabetes is creating huge scope for the bariatric surgery market. According to WHO, over 422 million people worldwide have diabetes and there are million undiagnosed patients across the globe. The majority living in emerging countries such as China, India, and Korea. Over 1.6 million deaths are directly attributed to diabetes each year. Both the number of cases and the prevalence of diabetes have been increasing worldwide.
Disposable income is increasing in Emerging economies
Emerging economies such as Korea, Thailand, India, and China are on a roll in gaining traction owing to the growing disposable income and cohesive government regulations. The rising disposable income opened new opportunities for Bariatric Surgery market players. The demand for the expensive treatment and products is increasing in these emerging economies. Bariatric Surgeryis expensive that affects the price sensitive economies, however, with the increasing disposable income and improving healthcare system the global Bariatric Surgery will get benefitted.
Increasing healthcare expenditure
Government policies from around the globe are paying huge attention on improving the healthcare system through increasing healthcare budget and drafting cohesive policies. Healthcare system is getting support from the governments worldwide. Rising healthcare spending has boosted the healthcare system of the world. For instance, the US spends around $10,000 per individual, which is the highest healthcare spending across the world. Other developed economies such as the UK, Germany, Canada, among others, invests significant amount of money in the healthcare system. Even the emerging economies including China, Korea, India, and Korea are also increasing their healthcare expenditure.
Rising Geriatric Population in the World
Huge pool of geriatric population is boosting the demand for the treatment for the bariatric surgery. Older population are more likely to get expose to obesity and health issues due to overweight. Lifestyle changes and poor dietary habits has exposed huge population of older population across the world.
Visiongain report covers detailed competitive landscape which includes overview of key players operating, extensive product portfolios, recent developments, among others. Some of the company’s profiled in this report include Ethicon US, LLC. (Johnson and Johnson), Medtronic PLC, B. Braun Melsungen AG, Olympus, Allergan, Inc., Cook Medical, Conmed Corporation, Reshape Lifesciences, Aspire Bariatrics, SpatzFgia, among others. The global Bariatric Surgery market players adopt various strategies to cater the available opportunities in the market. Mergers & acquisitions, partnerships, collaborations, among others, are the key strategies adopted by the market players. For instance, On 13thJuly 2020, Ethicon US, LLC. (Johnson and Johnson) published promising results related to superiority of bariatric surgery superior to best medical treatment for early chronic kidney disease in patients with obesity and type 2 diabetes.
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