The European bariatric surgery market is expected to record a CAGR of about 15% over the forecast period. Certain factors that are responsible for the growth of this market are the increase in obese population, prevalence of diabetes and heart diseases, government initiatives to curb obesity, and insurance coverage of surgeries.
In Europe, there is a rapid growth in the obese population, which is leading to high demand for obesity treatments. The number of bariatric surgeries in Europe is growing constantly, which has generated the demand for the devices used for bariatric surgery. In the United Kingdom, EASO (European Association for the Study of Obesity) targets to promote the expansion of high-quality centers for obesity surgery, including educating and training future surgeons. According to the National Institute of Health, the United Kingdom has the highest levels of obesity and overweight people than anywhere else in Western Europe, except for Iceland and Malta.
As per the Cancer Research UK report 2018, in the United Kingdom, 63% of the population is either overweight or obese. Ireland is predicted to be the frontrunner, with almost all adults of the country expected to be overweight within the next 15 years. The World Health Organization (WHO) estimates that 89% of Irish men and 85% of women will be overweight by 2030. WHO also suggests that countries that do not have noted obesity levels, like Sweden and Austria, will also see a sharp rise in the coming future. The sharp rise in the number of obese population in Europe is expected to be influential in propelling the growth of the European bariatric surgery market. This, along with government initiatives to curb obesity, is anticipated to lead to the growth of the European bariatric surgery market.
Key Market Trends
Implantable Devices Segment, by Device, is Expected to Witness the Highest CAGR in the Market
The implantable devices segment of the European bariatric surgery market is expected to experience the highest growth rate. This is primarily attributed to the rising demand for these devices in the European region.
As per the report of the European Association for the Study of Obesity, there is a growing demand for bariatric surgery in the region. For weight loss, a number of people are turning toward bariatric surgery owing to the faster results. As the number of people going for bariatric surgery is increasing, there is a rising demand for implantable devices, which is contributing to the faster growth of this segment.
The European bariatric surgery market is moderately competitive, with the presence of major players, such as Apollo Endosurgery Inc., Olympus Corporation, EnteroMedics Inc., Johnson & Johnson (Ethicon), and Medtronic PLC. The market is also inclusive of the smaller players that hold a substantial market share. With the growing medical device market, a few more new players are expected to penetrate the market in the coming future.
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