Market Size of North America Bariatric Surgery Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 1.05 Billion |
Market Size (2029) | USD 1.38 Billion |
CAGR (2024 - 2029) | 5.45 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Bariatric Surgery Market Analysis
The North America Bariatric Surgery Market size is estimated at USD 1.05 billion in 2024, and is expected to reach USD 1.38 billion by 2029, growing at a CAGR of 5.45% during the forecast period (2024-2029).
Elective surgeries, including bariatric surgery, were restricted during the pandemic, and the willingness to seek medical treatment also changed. The number of patients with obesity who underwent surgery was significantly reduced. According to an article published by PubMed Central in March 2022, a study was conducted in North America, which showed that there was a 12.1% reduction in total bariatric surgery cases and a 13.8% reduction in bariatric surgery cases per center. Thus, the COVID-19 pandemic significantly impacted the market initially, however as the pandemic has currently subsided, bariatric surgery procedures are taking place normally, hence the studied market is expected to have stable growth during the forecast period of the study.
Factors such as the increase in obesity patients, the high prevalence of type-2 diabetes and heart diseases, and increasing public awareness about bariatric surgery and government initiatives to curb obesity are expected to boost the market's growth during the forecast period of the study.
The increasing prevalence of obesity is a major factor driving the growth of the market, as bariatric surgery is majorly performed on obese patients. For instance, according to the data published by Trust for America's Health in September 2022, it was estimated that nationally 41.9% of adults had obesity in the United States in 2021, out of which black adults had the highest level of adult obesity at 49.9 percent, Hispanic adults had an obesity rate of 45.6 percent, white adults had an obesity rate of 41.4 percent, Asian adults had an obesity rate of 16.1 percent, and rural parts of the country had higher rates of obesity than urban and suburban areas. Thus, the high prevalence of obesity is expected to boost the market growth.
As diabetes and cardiovascular diseases are major risk factors in obese patients, the rising prevalence of these diseases is also expected to boost market growth. For instance, according to the data published by Diabetes Canada in February 2022, it is estimated that 30% of Canadians live with diabetes or prediabetes. The source also stated that approximately 5,719,000 Canadians were living with type 1 diabetes, type 2 diagnosed diabetes, and type 2 undiagnosed diabetes in 2022, and this number is expected to reach 7,277,000 by 2032. Thus, the high prevalence of diabetes is also expected to boost the market growth.
Moreover, increasing product launches by key market players are also boosting the market growth. For instance, in May 2021, Standard Bariatrics launched its novel Titan SGS stapling technology, specifically designed for bariatric sleeve surgery. Also, the device has been cleared by the United States FDA.
Therefore, the aforementioned factors, such as the rising prevalence of obesity, the rising prevalence of diabetes and cardiovascular diseases, and the increasing product launches, are expected to boost market growth. However, the high cost of surgery is expected to impede the market growth during the forecast period of the study.
North America Bariatric Surgery Industry Segmentation
As per the scope of the report, bariatric surgery or weight loss surgery is used as one of the major treatment procedures for treating obesity. It is generally the last option for patients who have failed in an attempt to lose weight by several other means. During this procedure, the size of the stomach is reduced by either removing some parts of the stomach or using a gastric band. The North America Bariatric Surgery Market is segmented by Device (Assisting Devices, Suturing Devices, Closure Devices, Stapling Devices, Trocars, and Other Assisting Devices), Implantable Devices (Gastric Bands, Electrical Stimulation Devices, Gastric Balloons, and Gastric Emptying), and Other Devices), and Geography (United States, Canada, and Mexico). The report offers the value (in USD million) for the above segments.
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North America Bariatric Surgery Market Size Summary
The North American bariatric surgery market is poised for growth, driven by an increasing prevalence of obesity, type-2 diabetes, and cardiovascular diseases. The market, initially impacted by the COVID-19 pandemic, is expected to stabilize and expand as elective surgeries resume. Public awareness and government initiatives aimed at combating obesity further bolster market prospects. The rising adoption of advanced surgical technologies and product launches by key players, such as Medtronic and Johnson & Johnson, are also contributing to market expansion. Despite the high cost of surgery posing a challenge, the demand for bariatric procedures is anticipated to rise, supported by the growing number of obese patients seeking weight loss solutions.
In the United States, the bariatric surgery market is significantly influenced by the country's high obesity rates and the associated health risks, such as diabetes and heart disease. The market benefits from the increasing use of innovative healthcare technologies and the introduction of new surgical devices. The popularity of laparoscopic gastric bypass surgery, known for its cost-effectiveness and patient satisfaction, is expected to drive the use of closure devices. The competitive landscape is characterized by a few dominant players, with potential for new entrants as the demand for bariatric surgeries grows. Strategic acquisitions and regulatory approvals for advanced surgical systems are likely to further enhance market dynamics in the coming years.
North America Bariatric Surgery Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increase in Obesity Patients
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1.2.2 High Prevalence of Type-2 Diabetes and Heart Diseases
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1.2.3 Increasing Public Awareness About Bariatric Surgery and Government Initiatives to Curb Obesity
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1.3 Market Restraints
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1.3.1 High Cost of Surgery
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1.4 Porter Five Forces
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - in USD Millions)
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2.1 By Device
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2.1.1 Assisting Devices
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2.1.1.1 Suturing Device
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2.1.1.2 Closure Device
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2.1.1.3 Stapling Device
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2.1.1.4 Trocars
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2.1.1.5 Other Assisting Devices
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2.1.2 Implantable Devices
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2.1.2.1 Gastric Bands
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2.1.2.2 Electrical Stimulation Devices
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2.1.2.3 Gastric Balloons
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2.1.2.4 Gastric Emptying
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2.1.3 Other Devices
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2.2 Geography
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2.2.1 United States
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2.2.2 Canada
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2.2.3 Mexico
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North America Bariatric Surgery Market Size FAQs
How big is the North America Bariatric Surgery Market?
The North America Bariatric Surgery Market size is expected to reach USD 1.05 billion in 2024 and grow at a CAGR of 5.45% to reach USD 1.38 billion by 2029.
What is the current North America Bariatric Surgery Market size?
In 2024, the North America Bariatric Surgery Market size is expected to reach USD 1.05 billion.