by Intragastric balloons are medical devices placed endoscopically in the stomach through the esophagus and are used as a minimally invasive treatment for obesity or weight loss. They work by limiting the available space in the stomach, which promotes a sense of fullness. These devices provide an alternative to more extreme solutions such as bariatric surgery.
The global 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 key trends
Rising obesity rates around the world have significantly boosted the demand for intragastric balloons in recent years. According to the World Health Organization, obesity rates have nearly tripled since 1975. In 2016, over 650 million adults and over 340 million children and adolescents were obese. This epidemic of obesity is primarily driven by increased consumption of processed and high calorie foods and a more sedentary lifestyle. As obesity is a leading risk factor for several chronic diseases, the growing obesity rates have accelerated the uptake of weight loss procedures such as intragastric balloons. With obesity projected to rise further in the coming decades, the intragastric balloon market is expected to witness strong growth.
SWOT Analysis
Strength: Intragastric balloons are less invasive and less expensive compared to bariatric surgeries. They also help in faster weight loss without major surgery.
Weakness: Intragastric balloons require placement and removal through endoscopy which involves some risks. There are also possibilities of balloon deflating, shifting or slipping.
Opportunity: Growing obesity rates across the world represent significant market potential. Increasing awareness about intragastric balloons and their benefits also offer growth opportunities.
Threats: Strict regulatory approvals and safety standards pose challenges. Presence of alternative bariatric procedures also increases competition.
Key Takeaways
The global Intragastric Balloon Market Share is expected to witness high growth. Regional analysis comprises
Regional analysis comprises The Asia Pacific region is expected to grow at the fastest rate during the forecast period due to growing obesity rates, improving healthcare infrastructure and high focus on bariatric treatments. North America currently dominates the market due to high awareness levels and presence of major players.
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. Key players are focused on new product launches and geographic expansion to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
