Bariatric Surgery Devices Market Size

Bariatric Surgery Devices Market Analysis

The Bariatric Surgery Devices Market size is estimated at USD 2.66 billion in 2024, and is expected to reach USD 3.43 billion by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).

The COVID-19 pandemic significantly impacted the market's growth due to the postponement of elective surgeries during the pandemic. For instance, according to the data published by the World Economic Forum in 2020, around 28 million elective surgeries across the globe were canceled during 12 weeks of peak disruption during the COVID-19 pandemic. Such circumstances have decreased the demand for bariatric surgery devices and limited the market's growth during the pandemic. However, during the post-pandemic period, the relaxation of restrictions has increased the patient influx, increasing the demand for bariatric surgery devices and contributing to market growth.

The major factors, such as the increasing burden of obesity and the rising prevalence of diabetes and cardiovascular diseases, are expected to drive market growth in the forecast period. The data published by the European Heart Network in 2021 reported that more than 60 million people were living with cardiovascular disease in the European Union, and nearly 13 million new cases of cardiovascular diseases were diagnosed. Similarly, data from the International Diabetes Federation published in 2021 stated that globally, around 537 million adults were living with diabetes as of 2021. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. The increase in chronic diseases such as diabetes and cardiovascular diseases among the global population is one of the crucial factors associated with obesity or being overweight, leading to the increasing demand for bariatric surgery devices, attributed to the market growth.

Additionally, according to the WHO data published in May 2022, it was found that over 60% of adults were obese in European countries during the year 2021, whereas 29% of adult males and 27% of adult females were overweight or obese. The same report stated that overweight and obesity rank fourth among the region's risk factors for non-communicable diseases, after high blood pressure, unhealthy eating, and smoking. Hence, owing to the high burden of obesity and the increasing prevalence of risk factors for obesity are expected to fuel growth in the bariatric surgery devices market over the forecast period.

Therefore, it is observed that the growing prevalence of diabetes and obesity is likely to drive the market for bariatric surgery devices over the upcoming years. However, the high surgery cost and lack of knowledge and awareness in developing and underdeveloped nations may restrain market growth.