Speedy Recovery Time to Push the Global Intragastric Balloon Market to Gain $103.17 Million by 2028

As per a study by Triton, the global intragastric balloon market, which accounted for $36.22 million in the year 2019, is expected to showcase a CAGR of 12.33% by the year 2028.

A study by Triton Market Research with the title ‘Global Intragastric Balloon Market,’ covers the Global Analysis and Forecast for 2019-2028 by Industry Verticals (Hospitals, Ambulatory Surgical Centers, Clinics), by Component (Single Balloon, Dual Balloon, Triple Balloon), by Filling Material (Gas-filled, Saline-filled), and by Geographical Region (North America, Middle East and Africa, Europe, Asia-Pacific, Latin America).

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According to the report, the global intragastric balloon market is predicted to generate a revenue of $103.17 million by the year 2028. The market is estimated to progress at a CAGR of 12.33% during the forthcoming period (2019-2028).

An intragastric balloon is an inflatable medical device, filled with air or saline, temporarily placed inside the stomach. It helps in reducing the bodyweight of patients who are overweight or obese.

Short hospital stay and speedy recovery time are primarily driving the growth of the global intragastric balloon market. Endoscopic treatments like intragastric ballooning, aspiration therapy, gastroplasty techniques and gastrointestinal bypass sleeves are generally preferred over invasive surgical procedural treatments. Intragastric ballooning requires no incisions, scars or stitches. In fact, the entire procedure takes about 20 minutes, and the patient can be discharged within two hours after the procedure. The ever-increasing obese population across the world is also boosting the market growth. However, short-term negative effects associated with the use of intragastric balloons are hampering the market growth.

The intragastric balloon market is segmented into three parts, industry verticals, component and filling material. The first segment, industry verticals, includes hospitals, ambulatory surgical centers and clinics. The second segment, component, is trifurcated into single balloon, dual balloon and triple balloon. The last segment, filling material, bifurcates into gas-filled and saline-filled.

As per the geographical landscape of the report, the Asia-Pacific is estimated to show the fastest growth in the global intragastric balloon market in the projected period. The growing prevalence of obesity in countries like India, China and Japan is primarily driving the growth of the intragastric balloon market. It is reported that, in Australia, more than half of the adult population is obese, with about one quarter of the children and adolescents in the country being obese or overweight. The AMA (Australian Medical Association), with the Federal Government, is planning to launch a multi-faceted strategy pertaining to the issue of obesity. Besides, obesity poses significant health risks to individuals. It is particularly a risk factor for the development of cardiovascular diseases and type-2 diabetes. Thus, there is an increased need for performing intragastric ballooning procedures in the region, which is aiding the market growth.

A few prominent names in the intragastric balloon market are Apollo Endosurgery Inc, MedSil, Aspire Bariatrics, Helioscopie, Obalon Therapeutics, Silimed (Sientra Inc), Spatz FGIA Inc, Allergan (AbbVie), BAROnova, ReShape Lifesciences Inc, Districlass Medical, Allurion Technologies Inc, Endalis and Medtronic.

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Question & Answer: Intragastric Balloon Market

Question 1: Which factors are primarily driving the growth of the global intragastric balloon market?
Answer: Short hospital stay and speedy recovery time are primarily driving the growth of the global intragastric balloon market. Endoscopic treatments like intragastric ballooning, aspiration therapy, gastroplasty techniques and gastrointestinal bypass sleeves are generally preferred over invasive surgical procedural treatments. Intragastric ballooning requires no incisions, scars or stitches. In fact, the entire procedure takes about 20 minutes, and the patient can be discharged within two hours after the procedure. The ever-increasing obese population across the world is also boosting the market growth.

Question 2: What factors are hampering the global intragastric balloon market growth?
Answer: Short-term negative effects associated with the use of intragastric balloons are hampering the market growth.

Question 3: How is the Asia-Pacific affecting the global intragastric balloon market outlook?
Answer: As per the geographical landscape of the report, the Asia-Pacific is estimated to show the fastest growth in the global intragastric balloon market in the projected period. The growing prevalence of obesity in countries like India, China and Japan is primarily driving the growth of the intragastric balloon market. It is reported that, in Australia, more than half of the adult population is obese, with about one quarter of the children and adolescents in the country being obese or overweight.

The AMA (Australian Medical Association), with the Federal Government, is planning to launch a multi-faceted strategy pertaining to the issue of obesity. Besides, obesity poses significant health risks to individuals. It is particularly a risk factor for the development of cardiovascular diseases and type-2 diabetes. Thus, there is an increased need for performing intragastric ballooning procedures in the region, which is aiding the market growth.

Question 4: Which are a few prominent names in the intragastric balloon market?
Answer: A few prominent names in the intragastric balloon market are Apollo Endosurgery Inc, MedSil, Aspire Bariatrics, Helioscopie, Obalon Therapeutics, Silimed (Sientra Inc), Spatz FGIA Inc, Allergan (AbbVie), BAROnova, ReShape Lifesciences Inc, Districlass Medical, Allurion Technologies Inc, Endalis and Medtronic.

Related Report:
Global Bariatric Surgery Market

The Global Bariatric Surgery Market is likely to generate $4913.10 million in revenue by the year 2028, displaying a CAGR of 9.41% over the projected years 2019-2028.

Due to the visible improvement in diabetes status after surgery, the disease has attracted the most attention in bariatric surgery. The increase in the demand for bariatric surgery is also due to its cost-effectiveness. Besides, obese people are more likely to be affected by this condition. Hence, consumers are taking specific measures to prevent obesity with the help of minimally invasive procedures. Also, obese people are predicted to suffer from cardiac diseases. Hence, the growing prevalence of diabetes and cardiac diseases is a risk factor for obese people, which is anticipated to fuel the demand for bariatric surgery procedures.

The advancements in bariatric surgery have made them more efficient. The introduction of laparoscopic technology into bariatric surgery has helped the overall market growth. Other new procedures have also been adopted in bariatric surgery treatment methods. Laparoscopy enables the surgeons to perform bariatric surgery with minimal openings, less pain and wound complications, unlike traditional open interventions.

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