Europe Bariatric Surgery Market - Segmented by Device and Geography - Growth, Trends, and Forecast (2018 - 2023)
The Europe bariatric surgery market is expected to register a CAGR of about 15% 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.
Increase in Obesity Patients
Intake of high calorie content food decreased physical activity and genetic reasons are the main causes of obesity. There is a rapid growth in the obese population and thus, the high demand for obesity treatments. The number of bariatric surgeries in Europe is growing constantly, and this has generated the demand for the devices used for bariatric surgery. In UK, EASO (European Association for the Study of Obesity) targets to promote the expansion of high quality centers for obesity surgery including educating & training future surgeons. The UK has high levels of obesity and overweight people than anywhere in Western Europe, except for Iceland and Malta. In the UK, 67% of men and 57% of women are either overweight or obese. Ireland is predicted to be the frontrunner, with almost all adults of the country expected to be overweight within the next 15 years. World Health Organization (WHO) estimates that 89% of Irish men and 85% of women will be overweight by 2030. WHO also suggests that countries that do not have noted obesity levels, like Sweden and Austria, will also see sharp rise within the next 15 years. The sharp rise in the number of obese population in Europe will be influential in propelling growth of the Europe bariatric surgery market. This, along with government initiatives to curb obesity, is anticipated to lead to the growth of the Europe Bariatric Surgery market.
High Cost of Surgery
High cost of the surgery is because of pre & post-surgery fees. The cost of the surgery depends on the type of the surgery. It may range from $15,000 to $20,000. Most expensive is the duodenal switch surgery, which can cost more than $30,000. The most recommended surgery is the gastric sleeve surgery and it costs a lower amount. However, bariatric surgery costs in countries, like India, Thailand, Singapore, etc. are a fraction of those in Europe. This, along with factors, like lack of knowledge and awareness in developing and underdeveloped countries will lead to the slowdown of the growth of the Europe Bariatric Surgery Market.
United Kingdom to Witness Sharp Rise in Bariatric Surgeries
The prevalence of obesity is growing steadily due to increase in the incidence rate of Type2 diabetes and heart diseases. Approximately 6,000 procedures are performed in the United Kingdom every year. In the UK more than a quarter of children - 26% of boys and 29% of girls- are overweight. The growth of bariatric surgery market in the UK can be attributed to increasing number of obese population. This growth in the region is expected to increase further with a steep rise in obese population. Most popular type of bariatric surgeries include gastric banding, gastric bypass and sleeve gastrectomy.
Key Developments in the Market: