South Korea Bariatric Surgery Market

Market Overview:

South Korea bariatric surgery market size is projected to exhibit a growth rate (CAGR) of 1.20% during 2024-2032. The growing prevalence of obesity among the masses, increasing awareness about the importance of mental health and psychosocial factors in weight management, and rising refinement and diversification of surgical techniques represent some of the key factors driving the market.

Bariatric surgery is a medical procedure designed to help individuals with severe obesity lose weight by altering the size and function of the stomach. It comprises a gastric bypass procedure wherein the surgeon creates a small pouch from the top of the stomach and connects it directly to the small intestine. It also includes sleeve gastrectomy, which involves removing a portion of the stomach, leaving a banana-shaped sleeve. It consists of adjustable gastric banding, where a band is placed around the upper part of the stomach to create a small pouch, limiting food intake. It also encompasses biliopancreatic diversion, which involves removing a significant portion of the stomach and rerouting the digestive system to limit calorie absorption. It requires extensive post-operative care, wherein patients are monitored closely to address any complications. It is typically recommended for people who have failed to achieve significant and sustained weight loss through other means, such as diet and exercise. It helps alleviate or resolve obesity-related health conditions, leading to a better quality of life and a reduced risk of complications like heart disease, stroke, and diabetes. It can lead to long-term health benefits, reducing the risk of life-threatening illnesses.

South Korea Bariatric Surgery Market Trends:

At present, the rising obese population due to the consumption of calorie-rich diets and the adoption of unhealthy lifestyles represents one of the crucial factors impelling the growth of the market in South Korea. The rising awareness among individuals about the need for effective, long-term weight management solutions is catalyzing the demand for bariatric surgical procedures. Moreover, the refinement and diversification of surgical techniques, such as laparoscopic and robotic-assisted surgeries, are reducing post-operative complications and recovery time, making bariatric surgery an attractive option for obese individuals. In addition, the rising acceptance and coverage of bariatric surgeries by insurance providers are expanding the patient pool by making these procedures more accessible. Furthermore, the emergence of interdisciplinary care models that integrate nutritional counseling and post-surgery follow-up care is improving patient outcomes and enhancing the overall value proposition of bariatric surgery. Besides this, the growing adoption of minimally invasive (MI) procedures, as these techniques offer several advantages, including smaller incisions, reduced pain, faster recovery, and shorter hospital stays, is offering a favorable market outlook in the country. Additionally, the increasing recognition of the importance of mental health and psychosocial factors in the context of obesity management is fostering greater collaboration between bariatric surgeons and mental health professionals.

South Korea Bariatric Surgery Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on device.

Device Insights:

• Assisting Devices 
  • Suturing Device
  • Closure Device
  • Stapling Device
  • Trocars
  • Others
• Implantable Devices 
  • Gastric Bands
  • Electrical Stimulation Devices
  • Gastric Balloons
  • Gastric Emptying
• Others
   

The report has provided a detailed breakup and analysis of the market based on the device. This includes assisting devices (suturing device, closure device, stapling device, trocars, and others), implantable devices (gastric bands, electrical stimulation devices, gastric balloons, and gastric emptying), and others.

Regional Insights:

• Seoul Capital Area
• Yeongnam (Southeastern Region)
• Honam (Southwestern Region)
• Hoseo (Central Region)
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

South Korea Bariatric Surgery Market Report Coverage:

Key Questions Answered in This Report:

• How has the South Korea bariatric surgery market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the South Korea bariatric surgery market?
• What is the breakup of the South Korea bariatric surgery market on the basis of device?
• What are the various stages in the value chain of the South Korea bariatric surgery market? 
• What are the key driving factors and challenges in the South Korea bariatric surgery?
• What is the structure of the South Korea bariatric surgery market and who are the key players?
• What is the degree of competition in the South Korea bariatric surgery market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the South Korea bariatric surgery market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the South Korea bariatric surgery market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the South Korea bariatric surgery industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.