APR 2018
The bariatric surgery market is expected to register a CAGR of about 14.6%, during the forecast period. Bariatric surgery is a medical procedure that aids weight loss by either limiting the capacity of the stomach or the absorption of calories. This is the most effective weight-loss therapy available for patients with morbid obesity. Bariatric surgery prevents obesity-related diseases, like, diabetes, hypertension, cardiac dysfunction, fatty liver disease, and many others.
Intake of high calorie content food decreased physical activity and genetic reasons are the main reasons for obesity. There is a rapid growth in the obese population and thus, the need for treatments for obesity is in high demand. The rapid growth for bariatric surgeries on a global scale is also growing constantly. This has generated a high demand for the devices used in the procedure. In 2014, more than 1.9 billion were overweight and 600 million were obese which accounts 13%. In developing countries with growing economies, the rate of obesity has been more than 30% higher than that of developed countries. In Asia Pacific, sedentary lifestyle and also intake of high energy diets are the key drivers of the obesity epidemic. This along with other factors, like government initiatives to curb obesity and insurance coverage of the surgeries will lead to the growth of the Asia-Pacific bariatric surgery market.
High cost of the surgery is because of pre & post-surgery fees. The cost of the surgery depends on the type of the surgery, which may range from $6,000 to $10,000. Most expensive is the duodenal switch surgery, which costs about $5,000 in India. However, Insurance companies may cover the expenses partially. This, along with other factors, like lack of knowledge and awareness in developing and underdeveloped countries and lower disposable incomes in developing and underdeveloped nations will lead to the slowdown of the growth of the bariatric surgery market.
Sleeve gastrectomy in India is performed in the country with the sole purpose of managing obesity. Affordable cost of gastric sleeve surgery in India helps individuals who suffer from drastically reduced quality of life because of obesity. It helps stimulate weight loss in individual suffering from comorbid obesity. These include heart disease, diabetes, hypertension, and reduced mobility due to skeletal problems. Individuals who have failed to reduce their weight through all other non-surgical interventions are recommended to pay nominal gastric sleeve cost and undergo sleeve gastrectomy in India. India is one of the most preferred destinations to seek high quality weight loss solution while paying reasonable sleeve gastrectomy cost. This is because pertaining to the facts that sleeve gastrectomy cost in India is much less than any other country in the world, and that the country has abundant skilled professionals. This will make India a sought after location for foreigners looking for bariatric surgery.
The major players include – Allergan, Inc., Covidien PLC, EndoGastric Solutions, Inc., EnteroMedics, Inc., GI Dynamics, Inc., Intuitive Surgical, Inc., Johnson & Johnson, ReShape Medical, Inc., Satiety, Inc., Spatz FGIA, Inc., TransEnterix, Inc. and USGI Medical, Inc., among others.
