Intragastric Balloon Is Estimated To Witness High Growth Owing To...

Intragastric Balloon Is Estimated To Witness High Growth Owing To Rise In Obesity Cases

Posted 2023-12-01 06:27:26

The Intragastric Balloon Market is estimated to be valued at US$ 372.6 Mn in 2023 and is expected to exhibit a CAGR Of 9.6% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

An intragastric balloon is a balloon placed into the stomach to support effective weight loss. It is usually used as part of a weight-loss plan that includes a fitness routine and a healthy diet. The balloon takes up space in the stomach, making people feel full sooner. It also slows down how fast food empties from the stomach into the small intestine.

Market Dynamics:

Rise in obesity cases is a key driver driving growth of the intragastric balloon market. Obesity increases the risk of several chronic diseases such as heart disease, diabetes etc. According to the WHO, approximately 13% of the world's adult population were obese in 2016. Intragastric balloon is a minimally invasive weight loss option to treat obesity.
Another driver is increasing preference for minimally invasive procedures. Intragastric balloons allows significant and appreciable weight loss when compared to conservative options and provide an alternative to bariatric surgeries in many patients who are overweight but not grossly obese. It offers benefits of being minimally invasive with quicker recovery.

SWOT Analysis

Strength: Intragastric Balloon allows for weight loss in a minimally invasive manner without surgery. It occupies space in the stomach making the patient feel full, thereby reducing appetite and food intake. Being temporary and reversible, it provides an effective option for obese patients to lose weight before bariatric surgery.

Weakness: Intragastric Balloon requires regular follow ups and monitoring to ensure safety. There are risks of balloon deflation, obstruction, pain and nausea during the placement.

Opportunity: Growing obese population worldwide due to sedentary lifestyle and unhealthy eating habits is driving the demand for effective weight loss treatment options. Increasing focus on obesity management presents an opportunity for intragastric balloon in the forecast period.

Threats: Availability of other bariatric surgery options poses competition to intragastric balloons. Stringent regulatory policies for medical devices approval.

Key Takeaways

The Global Intragastric Balloon Market Size is expected to witness high growth, exhibiting CAGR of 9.6% over the forecast period, due to increasing obese population worldwide. As per WHO data, obesity has nearly tripled since 1975 and affects over 650 million adults today.

Regional analysis: North America currently dominates the intragastric balloon market owing to growing obesity, increasing awareness about weight loss options and supportive reimbursement policies. Asia Pacific is expected to grow at fastest pace during the forecast period due to improving healthcare infrastructure and rising medical tourism in the region.

Key players operating in the Intragastric Balloon market are Allergan (Acquired by Abbott), Apollo Endosurgery, Reshape Medical, Helioscopie Medical, Spatz FGIA, Endalis, Districlass Medical, Lexal, Medicone, Obalon Therapeutics, Silimed, Medsil, ReShape Lifesciences, EndoArt, MedSil, Silimed, Medsil, MetaCure, Semmar.