Singapore Bariatric Surgery Devices Market Analysis

Singapore Bariatric Surgery Devices Market Executive Summary

The Singapore Bariatric Surgery Devices Market is at around $3.2 Mn in 2023 and is projected to reach $4.7 Mn in 2030, exhibiting a CAGR of 5.8% 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 apnoea, 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.

According to World Obesity Observatory in 2023, the prevalence of obesity in Singapore was around 10.2% in women and 13.1% in men and according to National Population Health Survey, the crude prevalence of obesity 11.6% among residents aged 18 to 74 years in 2022 had increased from 2020 10.5%. 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

Growing Prevalence of Obesity: The prevalence of obesity in Singapore is increasing, driven by lifestyle changes and dietary habits. This rising trend is driving demand for effective weight-loss solutions, including bariatric surgery. According to World Obesity Observatory in 2023, the prevalence of obesity in Singapore was around 10.2% in women and 13.1% in men.

Government Initiatives to Curb Obesity: The Singapore government has launched various initiatives to address obesity, such as the Health Promotion Board's "Healthy Living" campaign. These initiatives promote healthy lifestyles and encourage individuals to consider bariatric surgery as a treatment option. Thus, boosting the market growth rate.

Improvement in Healthcare Infrastructure: The expansion of healthcare facilities and specialized clinics offering bariatric surgery in Singapore is improving access to these services for patients seeking weight-loss solutions, eventually boosting the market.

Market Restraints

Exorbitant expenses linked to bariatric procedures and equipment: The high expense of bariatric operations and gadgets remains a major barrier for many patients, even with advances in coverage. This is particularly the case for people living in provinces with little public funding for these treatments or without full insurance coverage.

Hazards and problems that may arise from surgical operations: Infection, haemorrhage, and anaesthesia-related adverse responses are among the hazards associated with bariatric procedures, just like with any major surgery. Long-term issues can also arise, such as dumping syndrome and dietary deficits. Some patients may be discouraged from exploring surgical alternatives due to these concerns.

Limited availability of skilled bariatric surgeons: There's a shortage of surgeons specially trained in bariatric procedures in Singapore, leading to long wait times in some regions. This shortage limits market growth and patient access to these treatments.

Regulatory Landscape and Reimbursement Scenario

Health Sciences Authority (HSA) is the primary regulatory body responsible for the approval and safety monitoring of medical devices, including those used in bariatric surgery. The HSA oversees the registration, quality assurance, and post-market surveillance of medical devices.

The Ministry of Health (MOH) plays a crucial role in shaping healthcare policies, including those related to obesity treatment and bariatric surgery. It also oversees the overall healthcare system and influences reimbursement policies. The Agency for Care Effectiveness (ACE), established under the MOH, conducts health technology assessments and provides evidence-based recommendations for cost-effective treatments and devices.

MediShield Life, the national health insurance scheme, and its supplementary Integrated Shield Plans offered by private insurers, may provide coverage for bariatric procedures under certain conditions. The Central Provident Fund (CPF) Board administers MediSave, which can be used to pay for certain medical expenses, potentially including bariatric surgery.

The Singapore Medical Council (SMC) regulates medical practitioners and can influence the adoption of new surgical techniques and devices. The Chapter of General Surgeons, under the Academy of Medicine Singapore, provides professional guidelines and standards for surgical procedures, including bariatric surgeries.

Competitive Landscape

Key Players

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

• Ethicon, Inc. (Johnson & Johnson)
• Medtronic plc.
• Boston Scientific
• Becton Dickinson
• Zimmer Biomet
• Hoya Surgicals
• Asenus Surgical US, Inc.
• B Braun Melsungen AG
• Cousin Surgery
• Olympus Corporation