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Intragastric Balloons Global Market Report 2024 Global Market Analysis, Trends, Growth, Research And Forecast 2033
Intragastric Balloons Global Market
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According to The Business Research Company's, 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 growth in the historic period can be attributed to growing obesity rates, rising healthcare expenditure, clinical evidence and FDA approvals, awareness campaigns, improved balloon designs, growing 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 growth in the forecast period can be attributed to celebrity endorsements, obesity-related health issues, expansion in emerging markets, an increase in endoscopic procedures, an aging population, and personalized treatment approaches. Major trends in the forecast period include technological innovations, awareness through social media, integration with digital health platforms, artificial intelligence, virtual consultations, and enhanced patient education programs.
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Market Drivers and Trends:
The increasing manufacturing activities are expected to propel the growth of the extended cord reels market going forward. Manufacturing activities encompass the processes involved in producing goods from raw materials or components, typically through various stages of transformation, assembly, and finishing. The increasing manufacturing activities are due to the adoption of automation and robotics in manufacturing processes, expansion into international markets, economic growth in developing and developed countries, and continuous investment in research and development. Extended cord reels support manufacturing activities by providing efficient, safe, and reliable power distribution solutions that enhance productivity, safety, and operational efficiency in manufacturing environments. For instance, in March 2022, according to the United Nations Industrial Development Organization, an Austria-based specialized agency of industrial and economic development, the global manufacturing production of goods rose by 9.4% in 2021, compared to 2020. Therefore, the increasing manufacturing activities drive the extended cord reels market.
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.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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
Intragastric Balloons Market 2024 Key Insights:
• 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%.
• Rising Obesity Rates Fuel Expansion Of Intragastric Balloon
• Advancements In Non-Surgical Weight Loss Solutions
• North America was the largest region in the intragastric balloons market in 2023
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