PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1455685
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1455685
Intragastric Balloon Market size was valued at USD 79.56 Million in 2023, expanding at a CAGR of 10.29% from 2024 to 2032.
The Intragastric Balloon (IGB) presents a non-surgical approach to weight loss, intended to aid individuals in achieving significant weight reduction by occupying space within the stomach. This action promotes a sense of fullness, thereby curbing food intake. Typically, the balloon is inserted into the stomach endoscopically and then occupied with a sterile saline solution or gas, expanding to occupy a portion of the stomach's volume. This creates a feeling of satiety, enabling individuals to consume smaller portions of food and facilitating weight loss.
Intragastric Balloon Market- Market Dynamics
Obesity pandemic to propel market demand
The obesity pandemic is projected to persist and escalate over the forecast period, thus driving market growth. For instance, data from the World Health Organization (2016) indicates that closely 2 billion individuals were overweight, with approximately 650 million classified as obese. Moreover, it is estimated that by 2025, approximately 2.7 billion people will be overweight, with around 1.0 billion classified as obese. Despite the widespread prevalence of obesity and the widespread acceptance of weight-loss surgical procedures (such as gastric bypass and sleeve gastrectomy) among healthcare professionals, only a small percentage of the obese population meets the eligibility criteria for these surgeries, resulting in high mortality rates associated with obesity. For example, according to World Health Organization data, approximately 2.8 million individuals globally die each year due to obesity or overweight conditions. This high mortality rate is expected to drive demand for alternative and minimally invasive procedures such as the intragastric balloon.
Intragastric Balloon Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 10.29% over the forecast period (2024-2032)
Based on Administration segmentation, endoscopy was predicted to show maximum market share in the year 2023
Based on Filling Material segmentation, saline filled was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Intragastric Balloon Market is segmented on the basis of Administration, Balloon Type, Filling Material, End Use, and Region.
The market is divided into two categories based on Administration: Pill Form and Endoscopy. The endoscopy segment emerged as the dominant force in the intragastric balloon market, capturing the largest revenue share in 2023. Emerging endoscopic technologies have the capacity to replicate some of the anatomical modifications achieved through weight loss surgery, exhibiting comparable effectiveness. Moreover, endoscopic methods are less invasive and more cost-effective in comparison to bariatric surgery, factors poised to fuel the growth of this segment.
The market is divided into two categories based on Filling Material: Saline Filled and Gas Filled. In 2023, the saline filled segment asserted its dominance in the intragastric balloon market, commanding the largest revenue share. This can be attributed to the abundant availability of products and the significant weight loss achieved with these systems. Conversely, the gas-filled intragastric balloons segment is anticipated to witness rapid growth over the forecast period. Reported adverse events associated with saline-filled intragastric balloons are fostering demand for alternatives like gas-filled intragastric balloons.
Intragastric Balloon Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Within the market, companies specializing in Intragastric Balloon technology concentrate on developing safe, efficient, and minimally invasive solutions to address the escalating demand for non-surgical weight loss treatments. They channel investments into research and development to refine balloon design, materials, and insertion techniques, aiming to improve patient outcomes while mitigating risks and complications. Additionally, comprehensive support services, including patient education and healthcare professional training, along with ongoing monitoring, are provided to ensure the success and safety of IGB treatment. Furthermore, marketing strategies highlight the benefits of IGBs, such as their reversible nature, lower risk compared to surgical alternatives, and potential for substantial weight loss, targeting both individuals seeking weight loss solutions and healthcare providers seeking to offer comprehensive obesity management programs. Obesity represents a significant global health concern. Established market players prioritize strategies such as mergers and acquisitions, divestments, and new product development and launches. Meanwhile, emerging players focus on securing funding for their product development and launches.
In 2020, Allurion Technologies Inc. secured approximately USD 34 million in funding to support the launch of its swallowable weight loss balloon.
GLOBAL INTRAGASTRIC BALLOON MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHT
Apollo Endosurgery, Inc.
Obalon Therapeutics, Inc.
Allurion Technologies, Inc.
Spatz3
Helioscopie
Endalis
MEDSIL
ReShape Medical, Inc.
Lexel Medical
Others