Global Intragastric Balloon Market 2022-2028
The intragastric balloon market is anticipated to grow at a significant CAGR during the forecast period. The factor such as the growing preference of minimally invasive surgeries, growing commercial availability of the product and non-eligibility of obese patients for the surgical procedures propels the growth of the intragastric balloon market during the forecast period. Moreover, advancement in technology and innovation along with the decreasing cost of the procedures has shown a positive impact on the growth of the intragastric balloon industry. However, the factor such as noncoverage of the procedure of endoscopic intragastric balloon in insurance and side effect including vomiting, nausea, gastric erosion and development of gastric ulcers may hamper the growth of the market over the forecast period. Growing obesity among the population is of the major factor driving the market growth across the globe. According to the World Health Organization (WHO), more than 1 million people are overweight across the globe in which 50% are severely obese.The intragastric balloonis considered as a valuable method for managing obesity and related conditions, hence the market is expected to grow.
The global intragastric balloon market is segmented on the basis ofproduct, filling material and end-users. Based on the product, the market is sub-segmented into the single intragastric balloon, dual intragastric balloon, and triple intragastric balloon. Based on filling material, the market is segmented into a gas-filled balloon and saline-filled balloon. The saline-filled balloon is expected to have a considerable growth rate due to the ability to decrease weight more effectively. Most of the patient prefers to undergosaline-filled intragastric balloon treatment to lose bodyweight, as per the American Society of Gastrointestinal Endoscopy, as it can quickly detect silicone balloon deflation owing to methylene blue dye. Thus, this factor propels the growth of the saline-filled balloon segment. Based on end-user, the market is sub-segmented into hospitals and clinics, and ambulatory surgical centers. The hospitals and clinics segment is expected to have a considerable market share owing to the availability of highly skilled professionals.
Single Intragastric Balloon will be the largest segment by Products
Single Intragastric balloon is expected to have the largest market share in the intragastric balloon market during the forecast period due to higher availability of this product, growing awareness along with the rising adoption of noninvasive procedures. The rising number of obese patients along with enhanced product design propels the demand for a single intragastric balloon market. Moreover, advancement in technology for enhancing patient outcomes and the development of next-generation intragastric balloon has shown a positive impact on the growth of a single intragastric balloon in the near future.
The global intragastric balloon market is further segmented based on geography including North America, Europe, Asia-Pacific and Rest of the World.North America is expected to have the largest market share in the intragastric balloon market during the forecast period.Owing to the large prevalence of obesity in the US, the presence of well-established healthcare infrastructure along with favorable government policies are expected to boost the growth of the region in the intragastric balloon market. Additionally, the government is focusing on enhancing healthcare infrastructure and creating awareness in the people related to the early prevention of diseases.
Asia-Pacific will augment with the fastest rate in the Intragastric Balloon market
The market in Asia-Pacific is expected to be the fastest-growing region mainly owing to the increased prevalence and incidence of obesity and the growing demand for weight reduction procedures in emerging countries such as China and Japan. Moreover, Growing demand for medical tourism to treat obesity owing to enhanced healthcare amenities is anticipated to fuel the growth of the region.
Market Players Outlook
The key players of the intragastric balloon market includeApollo Endosurgery, Inc., SpatzFGIA Inc., Reshape Lifesciences Inc., Obalon Therapeutics, Inc., Allurion Technologies, Inc., Districlass Medical SA, LexelSRL, and Helioscopie Medical Implants. These players adopt various strategies in order to expand their market share. For instance, in July 2017, Allurion Technologies has developed an inflatable device known as Elipse balloon which is meant to prevent serious problems related to intragastric balloon. The company announced a $27 Million Series C round of funding to pay for a clinical trial. If all goes well, the company will offer the evidence needed to have FDA approval of the device in the US enabling patient with weight loss.
The Report Covers
Market value data analysis of 2021 and forecast to 2028.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global intragastric balloonmarket. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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