PUBLISHER: The Business Research Company | PRODUCT CODE: 1522233
PUBLISHER: The Business Research Company | PRODUCT CODE: 1522233
Intragastric balloons represent a minimally invasive approach to treating obesity, involving the insertion of a medical implant into the stomach to temporarily reduce its capacity. This method caters to individuals struggling with obesity, offering a non-surgical alternative that bypasses the need for general anesthesia. By occupying space in the stomach, the balloons induce a sensation of fullness, thereby curbing food intake. Typically inserted via an endoscope-a lengthy, flexible tube equipped with a camera-the procedure is performed through the mouth and into the stomach.
The primary variations of intragastric balloons include single, dual, and triple intragastric balloons, each serving as a tool for weight loss among obese patients. These balloons utilize filling materials categorized as saline-filled or gas-filled, and are distributed through various channels including online pharmacies, retail pharmacies, and hospital pharmacies. They find application across diverse areas such as obesity management, diabetes treatment, dietary control, weight reduction prior to surgery, and others. End users encompass hospitals, clinics, ambulatory surgical centers, among others.
The intragastric balloons market research report is one of a series of new reports from The Business Research Company that provides intragastric balloons market statistics, including intragastric balloons industry global market size, regional shares, competitors with an intragastric balloons market share, detailed intragastric balloons market segments, market trends and opportunities, and any further data you may need to thrive in the intragastric balloons industry. This intragastric balloons market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The intragastric balloons market size has grown rapidly in recent years. It will grow from $17.85 billion in 2023 to $19.89 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The expansion witnessed during the historical period can be attributed to several factors, including the increasing prevalence of obesity, escalating healthcare spending, the availability of clinical evidence and FDA approvals, awareness initiatives, advancements in balloon design, and the burgeoning trend of medical tourism.
The intragastric balloons market size is expected to see rapid growth in the next few years. It will grow to $30.75 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The anticipated growth in the forecast period can be linked to various factors, including celebrity endorsements, the prevalence of health issues associated with obesity, the expansion of emerging markets, a rise in endoscopic procedures, an aging population, and the adoption of personalized treatment strategies. Key trends expected in the forecast period encompass technological advancements, heightened awareness facilitated by social media platforms, integration with digital health platforms, the utilization of artificial intelligence, the provision of virtual consultations, and the enhancement of patient education initiatives.
The surge in obesity rates is poised to drive the expansion of the intragastric balloon market in the foreseeable future. Obesity rates denote the proportion or percentage of a population classified as obese based on body mass index (BMI) measurements, typically defined as a BMI of 30 or higher. The escalation in obesity rates stems from various factors including dietary patterns, sedentary lifestyles, economic influences, advertising and marketing practices, genetic predispositions, psychological and emotional aspects, and urban development and infrastructure. Intragastric balloons serve as a non-surgical alternative for weight loss among obese individuals by occupying space in the stomach, inducing a sensation of fullness, and curbing food consumption. For instance, as per a report released by the Office for Health Improvement & Disparities, a government agency in the UK, the prevalence of obesity among adults aged 18 and above in England was estimated at 25.9% in 2021-2022, marking an increase from 25.2% in the previous year. Consequently, the upward trend in obesity rates is propelling the growth of the intragastric balloon market.
Prominent companies operating in the intragastric balloon market are directing their efforts towards advancing medical weight-loss devices, such as swallowable gastric balloons, to improve patient comfort, usability, and accessibility. Swallowable gastric balloons are non-surgical devices designed to assist in weight loss by temporarily occupying space in the stomach, fostering a sense of satiety, and reducing food intake. For instance, in September 2022, Allurion Technologies Inc., a medical device company based in the US, introduced a swallowable gastric balloon capsule in India. This innovative product represents the world's first non-surgical swallowable gastric balloon that obviates the need for endoscopy or anesthesia during placement or removal. The Allurion gastric balloon capsule presents a safe, non-surgical, and efficacious solution for weight loss, aiding individuals in achieving significant weight reduction and embracing healthier lifestyle practices for sustained benefits.
In November 2022, Boston Scientific Corporation, a US-based medical technology firm, acquired Apollo Endo-surgery, Inc. for $615 million. This strategic acquisition positions Boston Scientific to broaden its product portfolio in weight loss solutions, offering customers and patients a more comprehensive range of products and capabilities. Apollo Endo-surgery Inc., the acquired company, specializes in non-surgical intragastric balloons, further augmenting Boston Scientific's presence in the field of medical weight-loss interventions.
Major companies operating in the intragastric balloons market are Medtronic plc, Mayo Clinic, Boston Scientific Corporation, Cleveland Clinic, Mediclinic Group, Spire Healthcare Group plc, Micro-Tech (Nanjing) Co., Ltd, American Hospital Dubai LLC, Silimed GmbH, Apollo Endosurgery Inc., Allurion Technologies Inc., MedicalExpo, ReShape Lifesciences Inc., Districlass Medical SA, Healthware Private Limited, Spatz Medical, Helioscopie SA, Bariatric Solutions International GmbH, HexaHealth Care Pvt. Ltd., USGI Medical Inc. , Inamed Health, Medsil , Obalon Therapeutics Inc., Endalis, Lexel SRL
North America was the largest region in the intragastric balloons market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intragastric balloons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the intragastric balloons market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The intragastric balloons market consists of revenues earned by entities by providing services such as patient evaluation and consultation, nutritional counseling, diagnostic tests, balloon removal, post-removal support, monitoring and follow-up care, and behavioral support services. The market value includes the value of related goods sold by the service provider or included within the service offering. The intragastric balloon market also includes sales of biodegradable intragastric balloons, and adjustable intragastric balloons. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Intragastric Balloons Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on intragastric balloons market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for intragastric balloons ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The intragastric balloons market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.