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The Germany Bariatric Surgery Market is expected to register a CAGR of 2.8% during the forecast period. There are certain factors propelling the growth of the market, includes increasing obesity patients, growing government initiatives to curb obesity, and rising prevalence rate of type 2 diabetes and heart diseases.
In Germany, there is a rapid growth in the obese population, which is leading to high demand for obesity treatments. The number of bariatric surgeries in Germany is growing constantly, and this has generated the demand for the devices used for bariatric surgery. For instance, as per the Organisation for Economic Co-operation and Development (OECD) 2019 report, estimated that one in four adults in Germany were obese. Overweight accounted for 10.7% of healthcare expenditure which is one of the largest rates of all countries analyzed. In addition, Germans live on average 2.6 years less due to overweight.
Thus, the rise in the number of obese population in Germany is expected to be influential in propelling the growth of the Germany bariatric surgery market. This, along with government initiatives to curb obesity, is anticipated to lead to the growth of the Germany bariatric surgery market.
Key Market Trends
Closure Device is Expected to Register a High CAGR in the Assisting Device Segment
Closure devices are used for reconnecting tissues during surgical procedures and for closing incisions made by trocars. The laparoscopic port closure device successfully and safely closes port sites in obese patients undergoing bariatric procedures and surgeries. The closure devices segment is expected to register high growth, as they are widely used in minimally invasive surgeries that require immediate closure of very small incisions made at the time of surgical procedures.
According to the Organisation for Economic Co-operation and Development (OECD) 2019 report, estimated that overweight reduces Germany’s GDP by 3.0%. Furthermore, to cover these costs, each German pays an additional EUR 431 in taxes per year. This indicates the heavy burden of obesity in the country which is expected to boost the market in the near future.
Therefore, the high burden of obesity in the country is expected to increase bariatric surgeries in the coming years, which will contribute to the faster growth of this segment.
The Germany bariatric surgery market is moderately consolidated competitive with the presence of major players, such as Apollo Endosurgery Inc., Olympus Corporation, Johnson and Johnson (Ethicon), and Medtronic Plc. The market is also inclusive of the smaller players that hold a substantial market share. With the growing medical device market, it is expected that a few more new players will be penetrating the market in the coming future.
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