Australia Bariatric Surgery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

The Australian bariatric surgery market is anticipated to grow at a CAGR of 5.6% during the forecast period.

COVID-19 had a significant impact on market growth due to the postponement of elective surgeries during the pandemic. This reduced the total number of surgeries performed across Australia and adversely impacted the bariatric surgery market. However, the new guidelines made for the continuation of these surgeries helped healthcare practitioners to perform various procedures and are expected to have a positive impact on the market. For instance, as per the report published by Aspiring Bariatrics in March 2022, the guidelines from the Australian and New Zealand College of Anaesthetists recommend that planned minor surgery is delayed for at least 4 weeks after a COVID-19 infection and major surgery is delayed for at least 7 weeks after a COVID-19 infection. This will ensure patient safety and can establish a better outcome which is expected to drive the market over the coming future.

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 technological advancements and innovations in devices.

In Australia, being overweight or obese is a serious public health concern and a substantial risk factor for illness. For instance, 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, with the high prevalence of obesity, the demand for bariatric surgeries increases, which is expected to propel market growth.

Moreover, the rising prevalence of cardiovascular diseases is expected to drive the market's growth in the forecast period as it increases the demand for bariatric surgery to prevent CVD-related morbidities. For instance, according to the AIHW, 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. Thus, due to the rising prevalence of chronic illnesses like diabetes and cardiovascular disease (CVD) in the population, there is an increasing need for bariatric surgery to reduce the morbidities associated with CVD, which is expected to drive the market to grow. However, the high cost of surgery may restrain the market's growth.

Australia Bariatric Surgery Market Trends

Gastric Balloons is Expected to Record a Highest Growth in the Implantable Device Segment Over the Forecast Period

In order to help with weight loss, a gastric balloon, also known as an intragastric balloon (IGB) or a stomach balloon, is an inflatable medical device that is briefly introduced into the stomach. 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 and 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.

According to the AIHW report published in July 2022, Australia's overall population has been growing older over time, with the share of people aged 65 and over increasing to 17% in 2020-21 compared to 11% in previous years. As the older population is more susceptible to obesity and chronic conditions, the demand for gastric balloons is expected to increase, which is likely 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, the new product approvals and launches help to expand the product portfolio in the given segment and are expected to drive the market over the study period.

Closure Device Under the Assisting Devices Segment is Expected to Have Fastest Growth Over the Forecast Period

Bariatric surgery is the operation that most commonly involves closure devices. As certain treatments necessitate the substantial use of closure staples, it is interesting that this surgery will push the market for the closure devices segment. Gastric bypass and sleeve gastrectomy are two of the most popular bariatric surgery treatments. The active closure devices include suture devices, collagen plugs, and clips which are mainly used to close the wounds of bariatric surgery. Hence, with an increasing number of bariatric surgeries due to various driving factors, it is expected to have a significant impact on the market through this segment.

One of the major driving factors for the segment growth is the rising burden of obesity in the country, which is likely to have bariatric surgery where closure devices play a major role during the surgery. For instance, as per the Obesity Atlas 2022, Australia is under the very high-risk category for obesity, with an estimated prevalence of 37.8% by 2030. As per the same source, obesity is more prevalent in men, and the estimated total number of obese patients with a BMI ≥30 in men is estimated as 40.8 million by 2030. This shows the high burden of obesity in the country, which is expected to have a high demand for bariatric surgery, where the closure devices play a crucial role and drive the market segment over the forecast period.

Australia Bariatric Surgery Market Competitor Analysis

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

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