Gastric Balloons Is Fastest Growing Segment Fueling The Growth Of Intragastric Balloon Market
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 Overview:
Intragastric balloons are medical devices placed in the stomach to help reduce weight. They occupy space in the stomach, making people feel full sooner and reduce appetite. This allows people to eat smaller portions and lose weight. Key advantages are that they are non-invasive, offer an alternative to obesity surgery and provide immediate feelings of fullness.
Market key trends:
One of the key trends in the intragastric balloon market is the introduction of dual balloons. Dual balloons involve using two balloons in the stomach instead of one. This is aimed at increasing effectiveness and helping patients lose more weight than single balloons. Having two balloons occupies more space in the stomach, reducing appetite even further. Some dual balloon systems also integrate a connecting tube or string between the balloons to further the feeling of fullness. This novel dual balloon approach is gaining popularity as it enhances weight loss outcomes.
Segment Analysis
The intragastric balloon market is segmented into dual, single and triple balloons. The single balloon segment dominates the market owing to its simplicity, higher adoption rate and lower costs.
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 obesity prevalence globally driven by changing lifestyles and food habits.
Regional analysis
North America dominates the intragastric balloon market due to growing obesity rates, rising awareness about therapeutic options like intragastric balloons and favorable reimbursement policies. The Asia Pacific region is expected to grow at the fastest pace during the forecast period owing to rising medical tourism industry in the region.
Key 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. Allergan (Abbott) leads the market owing to its early entry and established brand presence.
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