Bariatric Surgeries Market Insights and Trends
Market Overview
The bariatric surgeries market is projected to grow with a CAGR of 15.8% in the forecast period of 2022-2030. The market is likely to reach US$ 27,647.38 million by 2030 from US$ 8,546.66 million in 2023, expanding due to increasing obesity, better methodologies for surgical practice, and awareness among people about health benefits associated with bariatric surgery.
Key Growth Determinants
1. Growing Obesity: Due to sedentary lifestyle and unhygienic eating habits, the growing obesity epidemic has been a great influencing factor in the bariatric surgeries market. Since more and more people started getting affected by obesity, the demand for effective weight loss solution therapies also increased, which comes under bariatric surgeries.
2. Technological Advances: Advancing technology in surgical techniques, such as the introduction of minimal access and robotic-assisted surgeries, has improved patient outcomes, reduced recovery times, and increased overall acceptance of bariatric surgeries.
3. Growing Insurance Coverage: Most countries have increased insurance coverage for access to bariatric surgery, thus allowing access to larger patient segments. This has been one of the major factors driving growth in the market.
Market Challenges
Despite this positive growth trajectory, there are still some critical challenges afflicting the bariatric surgery market, which include: –
1. Lack of awareness/ stigma: Still, there is majority of affected individuals due to obesity are unaware of the available options of treatment, and societally too, bariatric surgeries face stigma that creates hesitation among patients for the same.
2. Postoperative Complications: Even as improvement has made bariatric surgeries much safer, there still exists the risk of such postoperative complications as nutritional deficiencies, dumping syndrome, and gallstone formation that may discourage some patients from resorting to such operations.
Future Outlook
The future of bariatric surgery is bright, with more enhancements still being envisaged in the field of surgical techniques and greater awareness of health dividends accruing from the procedures. The rapid rise in obesity and increasing acceptance of bariatric surgery as a mode of treatment augur well for future market growth.
Conclusion
The market for bariatric surgeries will, therefore, see strong growth shortly owing to growing obesity and because of the acceptance of the surgeries. The only concerns are awareness and post-operative complications; otherwise, far more people suffering from obesity would be treated with effective and safe weight loss methods.
Frequently Asked Questions
1. What is the current market size of the bariatric surgery market?
The global bariatric surgeries market reached US$ 8,546.66 million by 2023 and is set to reach US$ 27,647.38 million by 2030.
2. What are the growth drivers for this market?
The increasing obesity, advancement in surgical techniques, and inclusion of bariatric procedures into the insurance coverage are the main growth drivers of the market.
3. What challenges does it yet face?
Growth barriers: Lack of awareness regarding bariatric surgeries is prevalent along with social stigma. The postoperative complications: There are generally several postoperative side effects associated with the procedures.
4. What is the impact of improvement of techniques on the market?
The advancement of technologies involving minimal invasion and robotic-assisted surgeries is improving patient outcomes which, in turn, is increasing the overall acceptability of bariatric surgeries.
5. What is the outlook for the bariatric surgery market?
Brilliant, with increasing sophistication of surgical methods and growing awareness of health dividends following these types of surgeries.
Author’s Bio:
Chaitali Deshpande
Senior Market Research expert at The Insight Partners