The Asia-Pacific Bariatric Surgery Market is expected to register a CAGR of 8.5% during the forecast period. The key factors propelling the growth of the Asia pacific bariatric surgery market is the increase in the number of obese patients and the rising prevalence rate of type-2 diabetes and heart diseases.
Obesity is considered a metabolic dysfunction and is often associated with a wide range of chronic illnesses that cause significant increases in mortality. Obesity is found to be associated with substantial increases in premature mortality, impaired quality of life, and a substantial amount of healthcare costs.
As per 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).
In addition, the emergence of new technologies in bariatric surgery and growing demand for minimally invasive surgical procedures that are acting as the key drivers for the market growth during the forecast period. Thus, bariatric surgery market in Asia-Pacific is expected to show significant growth over the forecast period.
Key Market Trends
Stapling Devices Segment is Expected to Hold a Major Market Share in the Asia-Pacific Bariatric Surgery Market
The stapling devices segment is expected to show a comparatively higher growth rate over the forecast period, as compared to other devices used in the bariatric surgeries. It is the most commonly used device, as it tends to result in greater and more consistent weight loss among patients, along with a greater reduction in obesity-related health problems. As per Ministry of Health, Labour and Welfare of Japan (MHLW), in 2017, approximately 19.4% of female adults who were aged 20 years and over were overweight, up from around 19% in 2016. Thus, owing to the increasing prevalence of obesity the segment is expected to show significant growth in the coming years.
The Asia-Pacific Bariatric Surgery Market is consolidated competitive. The manufacturers are innovating new technologies, which are non-invasive, for reducing patients’ time in the hospitals, decreasing the chances of infection, and saving the cost. Additionally, smaller players are implementing strategies, such as acquisitions, to expand their product portfolio and gain roots in the industry.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support