Bariatric Surgery Market - South Korea
Market Statistics
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 1.20% (2024-2032)
Rising obesity rates in South Korea are driving the market, with a significant portion of the population now experiencing obesity-related health issues. According to the latest report by IMARC Group, the South Korea bariatric surgery market size is projected to exhibit a growth rate (CAGR) of 1.20% during 2024-2032.
South Korea Bariatric Surgery Industry Trends and Drivers:
Factors Driving the Growth of the Bariatric Surgery Market in South Korea
Rising Obesity Rates and Health Issues
- Obesity rates in South Korea are increasing, leading to more people facing obesity-related health complications.
- This rise in health issues is driving demand for bariatric procedures as an effective solution for weight loss and overall health improvement.
Prioritization of Obesity Management by Authorities
- Government agencies and healthcare organizations are focusing on obesity management by:
- Initiating awareness campaigns.
- Promoting healthier lifestyles.
- These initiatives are increasing public acceptance and consideration of bariatric surgery as a viable treatment option.
Technological Advancements in Surgical Procedures
- Technological progress in surgical methods is significantly contributing to the growth of the market.
- The medical industry is increasingly using minimally invasive (MI) techniques like laparoscopic surgery, which offer several benefits:
- Reduced recovery times.
- Lower risk of complications.
- Smaller incisions, reduced pain, quicker recovery, and shorter hospital stays.
- These advancements are making bariatric surgery more appealing and accessible to patients.
Improved Surgical Skills and Expertise
- Surgeons in South Korea are refining their skills, enabling more precise operations and better outcomes for patients.
- This increased proficiency is boosting the confidence of both patients and surgeons in bariatric procedures, further driving market growth.
Expansion of Insurance Coverage for Bariatric Surgery
- Insurance companies in South Korea are recognizing the long-term cost benefits of obesity management through surgery.
- There is a growing trend of including bariatric procedures in insurance coverage plans, which is:
- Reducing the financial burden on patients.
- Making the procedures more accessible to a wider portion of the population.
- Encouraging more individuals to consider surgery as a viable treatment.
Impact of Bariatric Surgery on Diabetes Management
- Increased awareness of the benefits of bariatric surgery in managing diabetes is further influencing market growth.
- More individuals are opting for surgery to improve their overall health, particularly those managing diabetes.
Positive Influence on Food Preferences and Physiology
- Bariatric surgeries are influencing healthier food choices by:
- Impacting patients' physiology.
- Reducing hunger and enhancing feelings of satiety.
- This physiological effect is further contributing to a favorable market outlook in the country.
Download sample copy of the Report: https://www.imarcgroup.com/south-korea-bariatric-surgery-market/requestsample
South Korea Bariatric Surgery Industry Segmentation:
The report has segmented the market into the following categories:
Device Insights:
- Assisting Devices
- Suturing Device
- Closure Device
- Stapling Device
- Trocars
- Others
- Implantable Devices
- Gastric Bands
- Electrical Stimulation Devices
- Gastric Balloons
- Gastric Emptying
- Others
Regional Insights:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
Request for customization: https://www.imarcgroup.com/request?type=report&id=17579&flag=E
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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