Chile Bariatric Surgery Market Size

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.