The Chile Bariatric Surgery Market is expected to register a CAGR of 2.6% 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.

As per Ministerio de Salud (Chile) 2018 report, estimated that nearly 39.8% of the responding population was overweight, 31.2% population with obesity, and 3.2% of the population with morbid obesity in Chile in 2017.

Furthermore, as per the Organisation for Economic Co-operation and Development (OECD) 2019 report, stated that in Chile one-third of adults were obese, and 44.5% of children were obese or overweight. Thus, owing to the high prevalence of obesity in Chile which is expected to show significant growth over the forecast period.

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.

As per Ministerio de Salud (Chile) 2018 report, estimated that obesity rates among the children have been increasing. For example, in 2017, about 11.68% of the children younger than six were obese in Chile up from 11.4% in 2016 and 11.05% in 2015. As number of obesity cases is increasing which is expected to show a positive impact on the market because it increases bariatric surgery procedures.

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.

Competitive Landscape

The Chile bariatric surgery market is moderately consolidated competitive with the presence of major players, such as Johnson and Johnson (Ethicon), Medtronic Plc, and others. 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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