Press release
Intragastric Balloon Market analysis research and trends report for 2016-2024
High prevalence of obesity coupled with growing preference toward minimally invasive bariatric surgeries will fuel intragastric balloons industry size. In 2014, the U.S. alone accounted for nearly 35% of the global obese population, and obesity inadvertently leads to disorders such as gall bladder disease, diabetes, heart disease, and stroke. Rising incidences of obesity among adults and technological advancements in surgical procedures to minimize health risks caused due to obesity will further propel market growth. According to Global Market Insights, Inc., “Intragastric Balloons Industry, worth approximately USD 120 million in 2015, is anticipated to increase at a CAGR of more than 9.5% over 2016-2024.”Major end-users of intragastric balloons market are ambulatory surgical centers, hospitals, and clinics. Ambulatory surgical centers will contribute massively toward the overall industry share with a CAGR estimation of more than 9.5% over 2016-2024. The growth can primarily be attributed to reduced hospital stays, high quality patient care, and relatively quick recovery period. Increased spending on quality healthcare will fuel intragastric balloons market share across clinics globally, which is expected to increase at a CAGR of 10% over 2016-2024.
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Hospitals accounted for more than 40% of the overall revenue share in 2015. Availability of excellent, high-tech medical infrastructure, skilled healthcare professionals, and increased funding are some of the factors that give hospitals an edge over clinics and ambulatory surgical centers. Increased public preference toward hospitals will propel global intragastric balloons industry in hospitals, which was worth more than USD 45 million in 2015, and is anticipated to surpass USD 100 million in 2024.
A strict regulatory framework, public awareness regarding the benefits of gastric balloon procedure, and highly developed infrastructure will be the key drivers for U.S. intragastric balloons market, which held more than 85% of the revenue share in 2015. Rising patient awareness levels will also accelerate global single intragastric balloons industry, which is slated to grow at a CAGR estimation of approximately 8.5%, having accounted for a revenue share of more than 50% in 2015. In addition, innovative technology and an ever-growing obese patient base is likely to fuel dual intragastric balloons market, which will register more than USD 85 million by 2024, with a CAGR anticipation exceeding 9.5% over 2016-2024.
While French was reputed to have always recorded low obesity levels, especially in comparison with the U.S. and other European nations, recent research studies reveal that a significant percentage of the French population is now obese, fueling the demand for weight reduction procedures. Furthermore, surging requirement for gastric balloon procedures and increased awareness regarding the dangers of obesity will catalyze France intragastric balloons industry, which is anticipated to grow at a CAGR exceeding 10.5%, having registered a revenue of USD 4.8 million in 2015.
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Increased per capita income, high demand for minimally invasive surgeries, and increase in the number of qualified medical professionals will spur Brazil intragastric balloons market, which will record a CAGR of more than 10% over 2016-2024.
Rising demand for new methodologies, medically advanced procedures, and novel techniques will stimulate global triple intragastric balloons industry, set to grow at a CAGR of 2016 to 2024. Adoption of such new technologically innovative products, excellent healthcare facilities, and high growth of the medical tourism industry will also fuel India intragastric balloons market, set to record a CAGR of 10% over 2016-2024.
In terms of filling material, intragastric balloons industry is segmented into gas-filled and saline fillings:
• Gas-filled intragastric balloons market is predicted to grow at a CAGR of 10%, driven by patient comfort levels and the improved product design.
• Saline fillings, having dominated intragastric balloons industry in 2015, will register a CAGR of over 9%, driven by its weight reduction ability.
Some of the notable market participants include Obalon Therapeutics, Apollo Endosurgery, Helioscopie Medical Implants, Allurion Technologies, Medsil, Silimed, Life Partners Europe, Districlass Medical, Lexel, Tulip Medical, ReShape Medical and Spatz. Companies often engage in strategic mergers & acquisitions for global expansion and to strengthen their regional presence. With increased acceptance of the gastric balloon surgical intervention among the obese population, intragastric balloons industry is expected to depict remarkable growth in the coming years.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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