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Intragastric Balloons Market Overview, Trend, Growth, Forecast 2024-2033
Intragastric Balloons Market Overview
As per the report, 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 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%.
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Rising Obesity Rates Fuel Expansion Of Intragastric Balloon
The increasing obesity rates are expected to propel the growth of the intragastric balloon market going forward. Obesity rates refer to the prevalence or percentage of a population that is considered obese based on body mass index (BMI) measurements, which is generally defined as having a BMI of 30 or higher. The increasing obesity rates are due to dietary habits, sedentary lifestyles, economic factors, advertising and marketing, genetics and biology, psychological and emotional factors, and urbanization and infrastructure. Obese individuals utilize intragastric balloons as a non-surgical option to aid in weight loss by occupying space in the stomach, promoting feelings of fullness, and reducing food intake. For instance, in May 2023, according to a report published by the Office for Health Improvement & Disparities, a UK-based government agency, in 2021-2022, 25.9% of adults aged 18 years and over in England were estimated to be living with obesity. This was an increase from 2020 to 2021 (25.2%). Therefore, the increasing obesity rates are driving the growth of the intragastric balloon market.
Advancements In Non-Surgical Weight Loss Solutions
Major companies operating in the intragastric balloon market are focusing on developing advancements in medical weight-loss devices such as swallowable gastric balloons, to enhance patient comfort, ease of use, and accessibility. Swallowable gastric balloons are non-surgical devices that help with weight loss by temporarily occupying space in the stomach, promoting a feeling of fullness, and reducing food intake. For instance, in September 2022, Allurion Technologies Inc., a US-based medical device company, launched a swallowable gastric balloon capsule in India. This is the world's first non-surgical swallowable gastric balloon that does not require endoscopy or anesthesia for placement or removal. The Allurion gastric balloon capsule offers a safe, non-surgical, and effective weight loss solution to help individuals achieve significant weight loss and adopt healthier lifestyle habits for long-term success.
The intragastric balloons market covered in this report is segmented -
1) By Type: Single, Dual, Triple Intragastric Balloons
2) By Filling Material: Saline Filled, Gas Filled
3) By Distribution Channel: Online Pharmacies, Retail Pharmacies, Hospital Pharmacies
4) By Application Areas: Obesity, Diabetes, Diet Control, Weight-loss, Pre-operative Weight Reduction, Other Applications
5) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End-Users
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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
Contents of the report:
1. Executive Summary
2. Intragastric Balloons Market Report Structure
3. Intragastric Balloons Market Trends And Strategies
4. Intragastric Balloons Market - Macro Economic Scenario
5. Intragastric Balloons Market Size And Growth
…..
27. Intragastric Balloons Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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