Mexico Bariatric Surgery Devices Market Analysis

Mexico Bariatric Surgery Devices Market Executive Summary

The Mexico Bariatric Surgery Devices Market is at around $39.9 Mn in 2023 and is projected to reach $57.9 Mn in 2030, exhibiting a CAGR of 5.45% during the forecast period 2023-2030.

Bariatric Obesity Weight loss surgery is an effective treatment option for patients suffering with morbid obesity. It also causes significant improvement in the obesity-related co-morbid conditions like Type 2 diabetes, high blood pressure, and joint pains, sleeping disorders like sleep apnea, heart diseases, infertility issues and several others. It is performed using laparoscopic technique (Keyhole Surgery-minimally invasive) and most of the patients start walking around on the same day of the surgery. The surgery causes weight loss because it restricts the amount of food the stomach can hold-causing less absorption. Usually, the weight loss surgeries are performed using minimally invasive techniques because it causes early recovery and less pain and the cosmetic outcomes are excellent. While bariatric surgery can offer many benefits, all forms of weight-loss surgery are major procedures that can pose risks and side effects. Also, you must make permanent healthy changes to your diet and get regular exercise to help ensure the long-term success of bariatric surgery. Bariatric surgery is done to help you lose extra weight and reduce your risk of possibly life-threatening weight-related health problems, including: certain cancers, including breast, endometrial and prostate cancer, heart disease and stroke, high blood pressure, high cholesterol levels, Non-alcoholic fatty liver disease (NAFLD) or non-alcoholic steatohepatitis (NASH), sleep apnoea, type 2 diabetes etc.

In Mexico, almost four out of every 10 people over 15 years of age suffer from obesity. It has the second-highest obesity rate of the countries that make up the Organization for Economic Cooperation and Development (OECD). The prevalence of obesity in Mexico is approximately 36.1% among the adults. 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

Increasing Obesity Rates: Mexico has seen a significant rise in obesity rates, with approximately 36.1% of adults classified as obese. This growing prevalence of obesity is driving the demand for effective weight loss solutions, including bariatric surgery.

Rising Incidence of Chronic Diseases: The increasing burden of chronic diseases associated with obesity, such as type 2 diabetes, cardiovascular diseases, and hypertension, is prompting more patients to seek bariatric surgery as a treatment option to improve their health outcomes.

Technological advancements in bariatric surgery devices: Ongoing advancements in surgical techniques and devices are enhancing the safety, minimally invasive nature, and effectiveness of bariatric procedures. For instance, cutting-edge laparoscopic and robotic-assisted systems are leading to better surgical outcomes and shorter recovery periods.

Market Restraints

Postoperative Complications: Potential complications associated with bariatric surgery, such as infections, nutritional deficiencies, and gastrointestinal issues, deter patients from undergoing the procedures and impact the market negatively.

Limited Insurance Coverage: Many health insurance plans in Mexico do not fully cover bariatric surgery, which deter patients from pursuing these procedures due to out-of-pocket expenses. Eventually hampering the market growth rate.

Lack of Trained Surgeons: There's a shortage of surgeons specially trained in bariatric procedures in Mexico, leading to long wait times in some regions. This shortage limits market growth and patient access to these treatments.

Regulatory Landscape and Reimbursement Scenario

The Federal Commission for Protection against Sanitary Risk (COFEPRIS) is the primary regulatory authority responsible for the approval and safety monitoring of medical devices, including those used in bariatric surgery. The Ministry of Health (Secretaría de Salud) oversees general healthcare policies and coordinates with state-level health authorities. The National Center for Health Technology Excellence (CENETEC) conducts health technology assessments and provides recommendations for the incorporation of new medical technologies.

For reimbursement, the system is more complex due to Mexico's fragmented healthcare system. The Mexican Institute of Social Security (IMSS), the largest public healthcare provider, has its own protocols for coverage of bariatric procedures. The Institute for Social Security and Services for State Workers (ISSSTE) is another major public insurer that may cover bariatric surgeries under certain conditions. The General Health Council (Consejo de Salubridad General) plays a role in determining which treatments are included in the basic package of health services.

The Mexican Association of Endoscopic Surgery (AMCE) and the Mexican College of Bariatric and Metabolic Surgery provide professional guidelines and standards for bariatric procedures. The National Chamber of the Pharmaceutical Industry (CANIFARMA) represents medical device manufacturers and can influence policy discussions.

Competitive Landscape

Key Players

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

• Bhio Supply
• Medicone
• Silimed
• Scitech Medical
• Medicone
• Medtronic plc.
• Ethicon, Inc. (Johnson & Johnson)
• Apollo Endosurgery
• B. Braun
• Spatz FGIA
• Cousin Surgery