Market Entry - Bariatric Surgery Market in South Africa: Analysis of Growth, Trends and Progress (2016 - 2021)

About the Market

The global bariatric surgery market size was valued over USD 1300 million in 2014 and is growing rapidly. Factors contributing to the market are changing lifestyle habits, chronic diseases due to obesity and technological innovations by industry players, with increasing number of incision-free surgeries. In 2013, 62% of the obese people of the world lived in developed countries, followed by developing nations such as China and India. Asia-Pacific is the fastest growing market with over 10.5%, owing to the huge obese population and medical tourism due to affordable surgeries. Even industry players have extended their research facilities in India to study obesity-related factors. Allergan Inc., Covidien Plc, Johnson & Johnson, Intuitive Surgical Inc., GI Dynamics Inc., TransEnterix Inc., USGI Medical Inc. are some of the key players in the market.

About the Geography

South Africa is a developing, young country with a median age of 25.9 years and has a population of 52.98 million. It has a well-developed constitutional democracy. The country has brought economic reforms, which have led to macroeconomic stability and one of the largest stock exchanges in the world. The country has a well-developed transport infrastructure, sound macro conditions and robust financial and legal framework.

South Africa is among the top developing nations but faces problems such as skills deficit, poor labor relations, lack of electricity, violent crime, corruption, unemployment rate and immigration laws. In order to attract foreign investors, the government has initiated simple tax rules, investment incentives, protection of intellectual rights, and better regulatory policies through foreign investment grant, skills support program, the Protection of Investment Act, and the strategic industrial project programs. South Africa has great potential for foreign investors as it is largely a free market economy, has a transparent regulatory framework, a large population, access to raw materials and political stability.

The country is the third largest FDI recipient in Africa with most of it going to the telecommunications sector. The government is taking steps to curb the unemployment rate and provide continuous electricity. It has a large English-speaking population and hence is a popular choice for foreign investment.

The Market Entry Series

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