Philippines Bariatric Surgery Devices Market Report 2023 to 2030

Philippines Bariatric Surgery Devices Market Analysis

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The Philippines Bariatric Surgery Devices Market was valued at $5.8 Mn in 2023 and is projected to grow at a CAGR of 5.7% from 2023 to 2023, to $8.6 Mn by 2030. Major factors driving the market for bariatric surgical devices include the rising incidence of adult obesity brought on by altered lifestyle patterns and excessive calorie consumption. The demand for bariatric operations is also anticipated to rise over the forecast period due to increased government backing and growing public awareness of the market's unhealthy food and beverage offerings and how they affect BMI, thus driving the market growth of the Bariatric Surgery Devices. The prominent players in the market are Philips, Medline Industries, Medtronic, B. Braun, Asenus Surgical, Johnson & Johnson, Cousin Surgery among others.

ID: IN10PHMD028 CATEGORY: Medical Devices GEOGRAPHY: Phillipines AUTHOR: Mahima Reddy

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Philippines Bariatric Surgery Devices Market Executive Summary

The Philippines Bariatric Surgery Devices Market is at around $5.8 Mn in 2023 and is projected to reach $8.6 Mn in 2030, exhibiting a CAGR of 5.7% during the forecast period 2023-2030.

Making modifications to your digestive system in order to aid in weight loss is the goal of gastric bypass and other weight-loss surgeries, also referred to as bariatric or metabolic surgery. When diet and exercise have not resolved your weight-related health issues, bariatric surgery is performed. Certain diet plans restrict the amount of food you can consume. Some functions through diminishing the body's capacity to assimilate calories and fat. Certain techniques provide both functions. 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 2022, about 12% of assessed adults aged 20 and above in the Philippines were identified as obese or overweight. The highest share of obese or overweight adults was reported among adults in the National Capital Region (NCR) at 39%. 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.

Philippines Bariatric Surgery Devices Market Report 2023 to 2030

Market Dynamics

Market Drivers

Rising obesity rates in Philippines: Philippines has been experiencing a steady increase in obesity rates over the past few decades. According to Statistics Philippines, 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.

Rising Health Consciousness: There is a growing trend of health consciousness among Filipinos, with more individuals recognizing the importance of maintaining a healthy weight. This awareness is driving demand for bariatric surgery as a viable option for weight management.

Rapid Urbanization: The ongoing urbanization in the Philippines is leading to lifestyle changes, including dietary habits that contribute to obesity. As urban areas expand, there is a growing demand for effective weight-loss solutions, including bariatric surgery.

Market Restraints

High Cost of Surgery and Devices: The cost of bariatric surgery and associated medical devices can be prohibitively high for many Filipinos, limiting access to these procedures. Thus, hampering the market growth rate.

Limited Insurance Coverage: Many health insurance plans in the Philippines do not adequately cover bariatric surgery, which can discourage patients from pursuing these options due to financial constraints. Eventually, downsizing the market size.

Limited availability of skilled bariatric surgeons: There's a shortage of surgeons specially trained in bariatric procedures in Philippines, 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 Food and Drug Administration (FDA) of the Philippines is the primary regulatory authority responsible for the approval and safety monitoring of medical devices, including those used in bariatric surgery. The Department of Health (DOH) plays a crucial role in shaping healthcare policies, including those related to obesity treatment and surgical interventions.

The Philippine Health Insurance Corporation (PhilHealth), the national health insurance program, influences the reimbursement landscape for medical procedures, though coverage for bariatric surgery is limited. The Philippine Association for the Study of Overweight and Obesity (PASOO) offers guidelines and recommendations for obesity treatment, including surgical interventions.

The Philippine Society of Endocrinology, Diabetes and Metabolism (PSEDM) also plays a role in setting standards for metabolic treatments, which can include bariatric procedures.

PhilHealth primarily focuses on essential health services, and bariatric surgery is often considered an elective procedure. Many patients rely on private insurance or out-of-pocket payments for these procedures.

Competitive Landscape

Key Players

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

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

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Philippines Bariatric Surgery Devices Market Segmentation

By Products

Minimally invasive surgical devices
- Stapling Devices
- Vessel-sealing devices
- Suturing devices
- Others
Non-invasive surgical devices

By Procedure

Sleeve gastrectomy
Gastric bypass
Revision bariatric surgery
Non-invasive bariatric surgery
Adjustable gastric banding
Others

End Users

Hospitals
Ambulatory surgical centers
Specialty Clinics

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.