Australia Bariatric Surgery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Australia Bariatric Surgery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Australia Bariatric Surgery Market is poised to grow at a CAGR of 5.6% during the forecast period, 2022-2027.

COVID-19 is expected to significantly impact the market's growth due to the postponement of elective surgeries during the pandemic. For instance, as per a March 2020 update by the Spine Society of Australia, Australian Government took a decision to temporarily suspend elective surgery, except for urgent Category 2 procedures such as unstable cervical, thoracic, and lumbar fractures, and category 1 surgery will continue, including surgical treatment of postoperative complications, other than planned revision surgeries. As a result, this reduced the total number of surgeries performed across Australia. Thus, the pandemic has resulted in lower demand for bariatric surgery products, thereby impacting market growth.

The major factors contributing to the growth of the bariatric surgery market include an increase in obesity among people, the rising burden of diabetes and heart diseases, and rapid advancements and innovations in devices.

Being overweight and obesity is a major public health issue and a leading risk factor for ill-health in Australia. According to the Australian Institute of Health and Welfare (AIHW), data updated in July 2022, 2 in 3 (67%) Australians aged 18 and over were overweight or obese (36% were overweight but not obese, and 31% were obese). That is around 12.5 million adults. Men had higher rates of overweight and obesity than women (75% of men and 60% of women), and higher rates of obesity (33% of men and 30% of women). Hence, as the prevalence of obesity is increasing, bariatric surgeries will also rise, which is expected to propel the market growth.

Moreover, the rising prevalence of cardiovascular diseases is expected to drive the market's growth in the forecast period. For instance, according to the Australian Institute of Health and Welfare, 2022, in the year 2020–2021, an estimated 571,000 Australians aged 18 and over (2.9% of the adult population) had chronic heart diseases, based on self-reported data from the Australian Bureau of Statistics 2020–21 National Health Survey. An estimated 57,700 people aged 25 and over had an acute coronary event in the form of a heart attack or unstable angina – around 158 events every day. Thus, the growing number of people suffering from chronic diseases such as diabetes and cardiovascular diseases among the population led to the increasing demand for bariatric surgery devices, which was attributed to the market growth.

Therefore, it is clear that the growing prevalence of diabetes and obesity will significantly drive the market for Australia bariatric surgery over the upcoming years. However, the high cost of surgery may restrain the market's growth.

Key Market TrendsGastric Balloons is Expected to Record a High CAGR in the Implantable Device Segment

A gastric balloon also referred to as an intragastric balloon (IGB) or a stomach balloon, is an inflatable medical tool that is momentarily inserted into the stomach to aid in weight loss. Intragastric balloon placement involves placing a saline-filled silicone balloon in the stomach. This helps a person to lose weight by limiting how much a person can eat and making the person feel fuller faster. The introduction of new products, an increased elderly population, collaboration with bariatric surgery centers, and manufacturing optimization to increase operating leverage are some of the factors that are driving the demand for balloons.

As per a November 2021 update by the Australian Institute of Health and Welfare, in June 2020, approximately 4.2 million people (16% of Australia’s total population) were aged 65 and over. As the older population is more susceptible to obesity and chronic conditions, the demand for gastric balloons is expected to increase over the coming years, thereby, driving the market segment's growth over the forecast period.

Moreover, product launches are expected to boost the growth of the segment over the forecast period. For instance, in July 2022, Allurion, the first gastric balloon that requires no endoscopy or anesthesia for placement or removal was launched in Australia.

Thus, due to the above-mentioned reasons, the gastric balloon segment is expected to see a surge over the forecast period.

Competitive Landscape

The Australia bariatric surgery market is moderately competitive and consists of several major players. With the rising patient awareness and increasing obese population, few other smaller players are also expected to enter the market in the coming years. The major players into the Australia bariatric surgery market are Apollo Endosurgery Inc., B. Braun Melsungen AG, Conmed Corporation, Intuitive Surgical Inc., Johnson and Johnson, Medtronic PLC, Olympus Corporation and The Cooper Companies, Inc.

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