Chile Bariatric Surgery Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.60 % |
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?
Chile Bariatric Surgery Market Analysis
The Chile bariatric surgery market is expected to register a CAGR of 2.6% during the forecast period.
The COVID-19 outbreak has resulted in many changes in surgery practices thereby also had impacted Chile's bariatric surgery market. The COVID-19 pandemic had majorly impacted the bariatric surgery market as due to the lockdown and government regulations people in the country were unable to go to work and exercise. Moreover the stress and fear of the pandemic also contributed to obesity cases in the country. Furthermore, the government regulations led to keeping aside the non-essential surgical procedures, which led to a decline in bariatric surgical procedures in the country, thereby hampering the growth of the studied market in the country. For instance, an article titled, "Safety of Bariatric Surgery During the Opening Phase After the First Wave of the COVID-19 Pandemic: Experience at an Academic Center" published in September 2021 reported concerns about the potential risk of postoperative COVID-19 infection, along with limited access to intermediate or ICU care raised concerns regarding the safety of bariatric surgery during the pandemic, thus initially the market witnessed a significant decline. However, after a few months, with the substantial decrease in COVID-19 cases and with the resumption of the services the market witnessed significant growth.
The factors that are driving the market are an increase in obese patients, the rising prevalence of type 2 diabetes and heart diseases, and government initiatives to curb obesity. The increasing prevalence of obesity in the region is increasing the demand for bariatric surgery, thereby driving the growth of the studied market. For instance, an article titled, 'Socio-economic inequalities in dietary intake in Chile: a systematic review' was published in July 2021 reported that Chile has the third-highest obesity rate among all the Organization for Economic Co-operation and Development countries. Approximately 35% of people aged 15 years and 25% of 5-6-year-old children in Chile were living with obesity, constituting the top risk factor for death and disability. Thus, such a high rate of obesity in the country is driving the need for bariatric surgical procedures, thereby driving the studied market.
Also, the high incidence of diabetes and heart disease is also contributing to the development of obesity in the country. In overweight people, the presence of a high amount of fat tissue gradually causes the cells to become resistant to insulin, this leads to diabetes, which subsequently damages blood vessels and the nerves that control the heart and blood vessels thereby contributing to heart diseases. For instance, the International Federation of Diabetes 2021, datasheet reported that in 2021, 10.8% of people in Chile were having diabetes which got increased by 2% over the decade. Thus, the high incidence of diabetes is leading to increasing obesity, thereby increasing the demand for bariatric surgery and thus driving the studied market.
Furthermore, the recent developments and clinical trials for bariatric surgery are also contributing to the growth of the studied market. For instance, an article titled 'Physical Exercise to Improve Functional Capacity: Randomized Clinical Trial in Bariatric Surgery Population' published in August 2022, reported a parallel-group non-blinded randomized controlled trial clinical trial conducted in a surgery clinic in Talca, Chile, determined that moderate-intensity physical exercise intervention in patients who underwent bariatric surgery increases their functional capacity thus improving bariatric surgery results. Similary, in October 2021, Spatz Medical received United States Food and Drug Adminstration (USFDA) approval for its product, Spatz3 Gastric Balloon, in 40 nations including Chile, the first adjustable gastric balloon, to aid in weight loss for adult patients struggling with obesity. Thus, such product launches and studies is contributing the growth of the studied market.
Thus, due to the aforesaid-mentioned reasons, the market is expected to witness significant growth over the forecast period. However, the high cost of surgery may slow down the growth of the studied market.
Chile Bariatric Surgery Market Trends
This section covers the major market trends shaping the Chile Bariatric Surgery Market according to our research experts:
Closure Device is Expected to Expected to Witness a Significant Growth Over the Forecast Period.
Closure devices are used for reconnecting tissues during surgical procedures and for closing incisions made by trocars. The laparoscopic port closure device successfully and safely closes port sites in obese patients undergoing bariatric procedures and surgeries. The closure devices segment is expected to register high growth, as they are widely used in minimally invasive surgeries that require immediate closure of very small incisions made at the time of surgical procedures.
The factors that are driving the growth of this segment are the high incidence of obesity cases in the country. For instance, United Nations Children's Fund Chile factsheet 2021, reported that Chilean children are mostly developing in obesogenic food environments. Also, this factsheet reported that Chile is one of the countries with the highest prevalence of overweight and obesity in the world. At the national level, 75% of adults, 33.5 % of children, and adolescents aged 5-19 years have excess weight (overweight and obesity) and 9.8 % of young children under the age of 5 are overweight. Thus the high incidence of obesity in Chile is driving the demand for surgery, which accounts for the increasing demand for closure devices, thereby driving the growth of this segment.
Similarly, an article titled, "Women's access to health care: Gaps that the future health care reform in Chile must solve" published in November 2021 reported that in Chile, morbid obesity and obesity are higher in women than in men (4.7% versus 1.7%, and 33.7% versus 28.6%, respectively). The article also quoted the bariatric surgery program of the National Health Fund, of which 85.4% of the bariatric surgeries in this program benefited women in Chile. Almost a decade of implementation of this program, provided access mainly to lower-income beneficiaries in the bracket, with more than 9000 surgeries being performed in the last five years in the country. Thus, bariatric surgery procedures are growing in the country, which is driving the demand for closure devices, thereby driving the growth of this segment.
Furthermore, government initiatives is also fueling the growth of this segment. For instance, United Nations Children's Fund Chile factsheet 2021, reported that the prevention of childhood overweight included equipping food; health; water, sanitation, and hygiene (WASH); education; social protection, and urban systems. In addition, the Chilean government also revised the policies to take care of obese patients by equipping the and mandating proper operational policies needed for the planning, assessment, and management of the manual handling risks for the care and treatment of bariatric patients. Thus, all these government initiatives to curb obesity are making people aware and thus, more people in the country are undergoing bariatric surgery, thereby fueling the growth of this closure devices.
Therefore, the high burden of obesity in the country is expected to increase in bariatric surgeries in the coming years, which will contribute to the growth of this segment.
Chile Bariatric Surgery Industry Overview
The Chile bariatric surgery market is moderately consolidated with the presence of major players, such as Apollo Endosurgery Inc., B. Braun Melsungen AG, Conmed Corporation, Intuitive Surgical Inc., Johnson and Johnson, Medtronic PLC, Olympus Corporation, The Cooper Companies Inc., Cook Medical, Abbvie Inc. (Allergan Inc.), Spatz FGIA, Endogastric Solutions, Cousin Biotech.
Chile Bariatric Surgery Market Leaders
Medtronic PLC
Johnson and Johnson (Ethicon Inc)
Olympus Corporation
Apollo Endosurgery Inc.
B. Braun Melsungen AG
*Disclaimer: Major Players sorted in no particular order
Chile Bariatric Surgery Market News
- In May 2022, CMR launched the Versius Surgical Robotic System marking the launch of CMR Surgical in Latin America (LatAm). Versius provide surgeons with precision and dexterity to enable surgeons to perform complex surgical procedures more easily through keyhole surgery.
- In July 2021, Medtronic integrated the Hugo robotic-assisted surgery (RAS) system at Hospital Clinico de la Red de Salud UC CHRISTUS in Santiago, Chile, to support the teaching institution's new robotic surgery program. This integration will help Chile to improve its surgical strategies including bariatric surgery.
Chile Bariatric Surgery Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Obesity Patients
4.2.2 Rising Prevalence of Type 2 Diabetes and Heart Diseases
4.2.3 Government Initiatives to Curb Obesity
4.3 Market Restraints
4.3.1 High Cost of Surgery
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Device
5.1.1 Assisting Devices
5.1.1.1 Suturing Device
5.1.1.2 Closure Device
5.1.1.3 Stapling Device
5.1.1.4 Trocars
5.1.1.5 Other Assisting Devices
5.1.2 Implantable Devices
5.1.2.1 Gastric Bands
5.1.2.2 Electrical Stimulation Devices
5.1.2.3 Gastric Balloons
5.1.2.4 Gastric Emptying
5.1.3 Other Devices
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Apollo Endosurgery Inc.
6.1.2 B. Braun Melsungen AG
6.1.3 Conmed Corporation
6.1.4 Intuitive Surgical Inc.
6.1.5 Johnson and Johnson
6.1.6 Medtronic PLC
6.1.7 Olympus Corporation
6.1.8 The Cooper Companies, Inc.
6.1.9 Cook Medical
6.1.10 Abbvie Inc. (Allergan Inc.)
6.1.11 Spatz FGIA
6.1.12 Endogastric Solutions
6.1.13 Cousin Biotech
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Chile 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 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 by using a gastric band. The Chile bariatric surgery market is segmented by Device (Assisting Devices (Suturing Device, Closure Device, Stapling Device, Trocars and Other Assisting Devices), Implantable Devices (Gastric Bands, Electrical Stimulation Devices, Gastric Balloons, Gastric Emptying), Other Devices). The report offers the value (in USD million) for the above segments.
| By Device | |||||||
| |||||||
| |||||||
| Other Devices |
Chile Bariatric Surgery Market Research FAQs
What is the current Chile Bariatric Surgery Market size?
The Chile Bariatric Surgery Market is projected to register a CAGR of 2.60% during the forecast period (2024-2029)
Who are the key players in Chile Bariatric Surgery Market?
Medtronic PLC, Johnson and Johnson (Ethicon Inc), Olympus Corporation, Apollo Endosurgery Inc. and B. Braun Melsungen AG are the major companies operating in the Chile Bariatric Surgery Market.
What years does this Chile Bariatric Surgery Market cover?
The report covers the Chile Bariatric Surgery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Chile Bariatric Surgery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Chile Bariatric Surgery Industry Report
Statistics for the 2024 Chile Bariatric Surgery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Chile Bariatric Surgery analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
