PUBLISHER: Allied Market Research | PRODUCT CODE: 1566774
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566774
The global intragastric balloons market was valued at $32.2 million in 2023, and is projected to reach $115.3 million by 2033, growing at a CAGR of 13.6% from 2024 to 2033.
Intragastric balloons are medical devices that do not require surgery and are created to aid in weight loss by taking up space in the stomach, leading to a sensation of fullness and decreased food consumption. These balloons are placed in the stomach through an endoscopic procedure and are filled with saline or gas to occupy a part of the stomach, reducing its capacity for food intake. This method helps people stick to low-calorie diets and develop healthier eating habits, which in turn supports weight loss. These balloons are especially advantageous for individuals dealing with obesity who may not be eligible for or prefer to avoid surgical procedures such as gastric bypass or sleeve gastrectomy.
The growth of the intragastric balloons market is driven by rise in the obesity rates related to various factors such as sedentary lifestyles, unhealthy dietary habits, and genetic predispositions. As these factors become more prevalent globally, the incidence of obesity continues to rise. Consequently, individuals are increasingly seeking effective weight loss solutions to mitigate these health risks and improve their overall well-being. This growing demand for obesity management solutions drives the market for interventions such as intragastric balloons, which offer a minimally invasive approach to weight loss. For instance, 57.0% of the patients who preferred minimally invasive treatment made their decision under the influence of the healthcare professionals as they recommended minimally invasive treatment and reported less perceived disadvantages following their treatment.
However, lack of reimbursement policies hinders the adoption of intragastric balloons. In many healthcare systems, the coverage for intragastric balloon procedures is expected to be insufficient or non-existent, resulting in high out-of-pocket costs for patients. This financial barrier deters individuals from seeking treatment, particularly those with limited financial resources or inadequate insurance coverage. On the other hand, introduction of new products offers lucrative opportunities for the growth of the market. For instance, in September 2022, Allurion Technologies, the U.S.-based medical device manufacturer, launched its weight loss solution, a swallowable gastric balloon, in India. The product claims to reduce weight by 10-15% on average within 16 weeks.
Segmentation Overview
The intragastric balloons industry is segmented into type, filling material, end user, and region. By type, the market is classified into single, dual, and triple. Depending on the filling material, it is bifurcated into gas filled and saline filled. According to end user, the market is categorized into hospitals, ambulatory surgical centers (ASC), and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
By type, the single segment generated the largest revenue in the intragastric balloons market in 2023.
Depending on the filling material, the saline filled segment held the highest share in the market in 2023.
According to end users, the hospitals segment accounted for the largest market share in 2023.
Region wise, North America dominated the intragastric balloons market in 2023.
Competitive Scenario
The major players operating in the intragastric balloons market include Obalon Therapeutics, Apollo Endosurgery Inc., Allurion Technologies Inc., Spatz Medical, ReShape Lifesciences, Lexel Medical, Endalis, MEDSIL, and Silimed. Other players in the intragastric balloons market include Districlass Medical, and Helioscopie. These players have adopted several strategies, including mergers & acquisitions, partnerships, collaborations, and product innovation & diversification to maintain their foothold in the market.
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