Canada Bariatric Surgery Devices Market Analysis

Canada Bariatric Surgery Devices Market Executive Summary

The Canada Bariatric Surgery Devices Market is at around $212.8 Mn in 2023 and is projected to reach $303.4 Mn in 2030, exhibiting a CAGR of 5.2% during the forecast period 2023-2030.

Gastric bypass and other types of weight-loss surgery, also called bariatric or metabolic surgery, this involve making changes to your digestive system to help you lose weight. Bariatric surgery is done when diet and exercise haven't worked or when you have serious health problems because of your weight. Some weight-loss procedures limit how much you can eat. Others work by reducing the body's ability to absorb fat and calories. Some procedures do both. Bariatric surgery poses potential health risks, both in the short term and the long term. Bariatric surgery risks can include excessive bleeding, infection, reactions to anaesthesia, blood clots, lung or breathing problems etc. Longer-term risks and complications of weight-loss surgery vary depending on the type of surgery. they can include bowel obstruction, dumping syndrome, a condition that leads to diarrhoea, flushing, light-headedness, nausea or vomiting, gallstones, hernias, hypoglycaemia, malnutrition, ulcers etc.

In 2022, there were over 10 Mn people in Canada who were overweight and 8.7 Mn who were obese. Therefore, the market is driven by various factors such as increasing demand for minimally invasive surgeries, rising incidence of obesity, technological advancements, rising awareness about bariatric surgery.

The prominent players in the market are Medtronic, B. Braun, Asenus Surgical, Johnson & Johnson, Cousin Surgery among others.

Market Dynamics

Market Drivers

Rising obesity rates in Canada: Canada has been experiencing a steady increase in obesity rates over the past few decades. According to Statistics Canada, prevalence of obesity in 2022 was the same for women and men each at 30%, there was variation across age groups. The lowest rate among adults was noted in Canadians aged 18 to 34 (25%), while obesity peaked at 34% for those aged 50 to 64 and declined to 29% among those aged 65 to 79. This trend is likely to continue, creating a larger potential patient pool for bariatric surgeries and driving demand for related devices.

Increasing awareness of health risks associated with obesity: Public awareness of the severe health risks associated with obesity, such as type 2 diabetes, heart disease, and certain cancers, is increasing. This heightened understanding is driving more people to pursue lasting weight loss options, including bariatric surgery.

Technological advancements in bariatric surgery devices: Continuous advancements in surgical techniques and devices are enhancing the safety, minimally invasive nature, and effectiveness of bariatric procedures. For instance, the introduction of advanced laparoscopic and robotic-assisted surgical systems is significantly improving patient outcomes and shortening recovery periods.

Market Restraints

High costs associated with bariatric surgeries and devices: Despite expanded coverage, the substantial costs of bariatric procedures and devices remain a major obstacle for many patients. This issue is particularly acute for those lacking comprehensive insurance or residing in provinces with minimal public funding for such treatments.

Potential complications and risks of surgical procedures: As with any significant surgery, bariatric procedures come with risks, including infection, bleeding, and potential complications from anesthesia. Long-term issues such as nutritional deficiencies and dumping syndrome are also possible, which may discourage some patients from opting for these surgical treatments.

Limited availability of skilled bariatric surgeons: Canada faces a shortage of surgeons skilled in bariatric procedures, resulting in extended wait times in certain areas. This scarcity hampers both market growth and patient access to these treatments.

Regulatory Landscape and Reimbursement Scenario

Bariatric medical devices are regulated by Health Canada under the Medical Devices Regulations, which fall under the Food and Drugs Act. These devices are typically classified as Class III or IV, requiring stringent pre-market approval processes including safety and efficacy data submission. Manufacturers must maintain a certified Quality Management System and engage in post-market surveillance. The regulatory framework encompasses device classification, pre-market approval, quality management, post-market surveillance, and advertising regulations. Health Canada's Medical Devices Bureau oversees the entire process, ensuring devices meet safety, effectiveness, and quality standards before and after market entry.

Reimbursement for bariatric medical devices in Canada is complex and varies across provinces and territories due to the country's decentralized healthcare system. Generally, bariatric surgery is covered by provincial health insurance plans when deemed medically necessary, but coverage for specific devices can vary. Private insurance plans may offer additional coverage, but this varies by policy. Patients often face long wait times due to limited resources and high demand.

Competitive Landscape

Key Players

Here are some of the major key players in the Canada Bariatric Surgery Devices Market:

• Medtronic plc.
• Ethicon, Inc. (Johnson & Johnson)
• Asenus Surgical US, Inc.
• B Braun Melsungen AG
• Cousin Surgery
• Olympus Corporation
• Richard Wolf GmbH
• SPATZ FIGA, Inc.
• Teleflex Incorporated
• USGI Medical, Inc.