According to the latest report by IMARC Group, titled "Intragastric Balloons Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global intragastric balloons market reached a value of US$ 50.8 Million in 2021. Intragastric balloon therapy refers to a minimally invasive method of inducing weight loss. Intragastric balloons are made from biocompatible silicone materials. They are most commonly filled with sterile gas or saline solutions and are inserted into the stomach through a non-surgical endoscopic procedure. This therapy results in promoting the feeling of satiety and restriction in the patients by reducing the volume of their stomachs. This consequently confines the amount of food stored by the stomach. This makes the user feel fuller quickly and for longer periods, thereby resulting in reduced food intake. This procedure is widely prescribed to individuals suffering from obesity, with the body mass index (BMI) of the individual ranging from 30 to 70.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Intragastric Balloons Market Trends:
The market is primarily driven by the rise in the prevalence of obesity on the global level. This can be attributed to the sedentary lifestyles led by the majority of the population who participate in little to no physical activities. There has also been a major shift toward the increasing consumption of unhealthy convenience foods, which has resulted in the rising incidences of weight-related health concerns in more than half of the global population. This, in turn, has contributed to the growing demand for medically certified weight-loss procedures, such as bariatric surgery and intragastric balloon therapy. Along with this, there has been a growing preference for minimally invasive (MI) procedures as they do not result in post-operative complications, unlike traditional surgeries. Intragastric balloons are, therefore, an excellent option for reducing weight as they are placed endoscopically in the human body with no incision. Furthermore, extensive research and development (R&D) activities, along with the introduction of product variants with minimal side-effects, such as nausea, vomiting, ulceration and gastric erosion, are acting as other major growth-inducing factors. These balloons are also designed with antimigration properties to avoid migration and allow balloon volume adjustment. Other factors, such as rising commercial availability of the product and the increasing healthcare expenditure, are expected to create a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 12.1% during 2022-2027.
- On the basis of the product, the market has been divided into single, double and triple intragastric balloons.
- Based on the filling material, the market has been bifurcated into saline and gas filling.
- On the basis of the implanting procedure, the market has been classified into surgical and non-surgical.
- Based on the application, the market has been categorized into obesity, diabetes, diet control, weight-loss, pre-operative weight reduction and others.
- On the basis of the end-user, the market has been segmented into hospitals and clinics, ambulatory surgical centers, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the industry has been examined in the report with the detailed profiles of the key players. Some of these players include Apollo Endosurgery Inc., Obalon Therapeutics, Inc., ReShape Medical Inc., Medicone, MedSil, Allurion Technologies, Inc., Helioscopie, Spatz FGIA, Inc., PlenSat BV, Districlass Medical SA, Endalis, LEXEL S.R.L., Silimed, and Shandong Institute of Medical Instruments.
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