Intragastric Balloon Market Is Estimated To Witness High Growth
The intragastric balloon market is estimated to be valued at US$ 372.6 Million In 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Intragastric balloons are minimally invasive medical devices used in weight loss treatment. They are placed temporarily in a patient's stomach to help create a feeling of early fullness, making the patient feel fuller sooner and potentially aiding in portion control and weight loss. The balloons remain in the stomach for up to 6 months and are then removed endoscopically.
Market Dynamics:
The global intragastric balloon market is witnessing significant growth owing to the increasing prevalence of obesity globally. According to the World Health Organization (WHO), globally around 2 billion adults were overweight in 2021, of which over 700 million were obese. The increasing health implications associated with obesity such as diabetes, hypertension, and other cardiovascular diseases are expected to drive the demand for effective and minimally invasive weight loss procedures such as intragastric balloons. Additionally, advancements in the design of intragastric balloons that makes them safer and more comfortable to stay inside the stomach for longer duration are also supporting the Intragastric Balloon Market growth. Industry players are focusing on developing sophisticated balloons that can stay inflated for longer and offer better weight management. For instance, in 2021, Apollo Endosurgery introduced the dual balloon system to offer additional weight loss capacity and sustainability of weight loss when compared to single balloon systems.
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