June 22, 2024

Intragastric Balloon Market Size to Attain USD 108.80 Mn by 2033

The global intragastric balloon market size accounted for  USD 45 million in 2023 and is anticipated to attain around USD 108.80 million by 2033, expanding at a CAGR of 9.22% from 2024 to 2033.

Key Points

  • By region, North America held the largest share of the intragastric balloon market in 2023 with 38.4%.
  • By region, Asia Pacific is expected to witness significant growth during the forecast period.
  • By balloon type, in 2023, the single segment held the largest share of 66%.
  • By filling material, the saline filled segment held the dominant share of around 73% in 2023.
  • By administration, the endoscopy segment held the largest share of over 72.3% in 2023.
  • By end use, the hospitals segment has accounted market share of around 55% in 2023.

Intragastric Balloon Market Size 2024 to 2033

The intragastric balloon market is a rapidly growing segment of the medical device industry, focused on providing minimally invasive weight loss solutions for individuals struggling with obesity. Intragastric balloons are non-surgical devices inserted into the stomach to occupy space and promote a feeling of fullness, thereby reducing food intake and aiding weight loss. The market has seen significant growth in recent years, driven by increasing rates of obesity worldwide and the desire for less invasive weight loss procedures.

Get a Sample: https://www.precedenceresearch.com/sample/4081

Growth Factors

Several factors contribute to the growth of the intragastric balloon market:

  1. Rising Obesity Rates: Obesity has become a global health crisis, leading to a demand for weight loss treatments that are less invasive than traditional bariatric surgeries.
  2. Increasing Awareness: More people are becoming aware of the health risks associated with obesity, prompting them to seek medical interventions.
  3. Advancements in Technology: Technological advancements have led to the development of safer and more effective intragastric balloons, increasing their adoption among patients and healthcare providers.
  4. Cost-Effectiveness: Compared to other weight loss surgeries, intragastric balloon procedures are relatively affordable, making them accessible to a broader range of patients.
  5. Supportive Healthcare Policies: In many countries, healthcare policies are becoming more supportive of weight loss interventions, including intragastric balloon procedures.

Regional Insights

The intragastric balloon market varies by region, with different factors driving growth in each area:

  1. North America: The region has a high prevalence of obesity, a strong healthcare infrastructure, and advanced medical technology. The U.S. is a major market for intragastric balloons due to its large population and high healthcare spending.
  2. Europe: European countries have seen a growing demand for intragastric balloons due to increasing obesity rates and a preference for less invasive weight loss solutions.
  3. Asia-Pacific: The region is expected to experience significant growth in the intragastric balloon market due to rising obesity rates, increasing healthcare expenditure, and a growing awareness of weight loss treatments.
  4. Latin America: Latin America has a growing market for intragastric balloons, fueled by a rising prevalence of obesity and an increasing demand for minimally invasive weight loss procedures.
  5. Middle East & Africa: The market in these regions is also expanding due to rising obesity rates and a greater focus on preventive healthcare measures.

Intragastric Balloon Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 9.22%
Global Market Size in 2023 USD 45 Million
Global Market Size in 2024 USD 49.15 Million
Global Market Size by 2033 USD 108.8 Million
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Balloon Type, By Filling Material, By Administration, and By End-use
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Intragastric Balloon Market Dynamics

Drivers

The intragastric balloon market is driven by several key factors:

  1. Non-Invasive Nature: Intragastric balloon procedures are minimally invasive, offering patients a safer alternative to traditional bariatric surgeries.
  2. Effectiveness: The balloons have proven effective in promoting weight loss and improving associated health conditions such as diabetes and hypertension.
  3. Short Recovery Time: Patients undergoing intragastric balloon procedures typically experience a shorter recovery time compared to other weight loss surgeries.
  4. Growing Demand for Aesthetic Solutions: Many individuals are seeking weight loss solutions not only for health reasons but also for aesthetic purposes.
  5. Expansion of Healthcare Infrastructure: The expansion of healthcare infrastructure in emerging markets is increasing access to intragastric balloon procedures.

Opportunities

The intragastric balloon market offers several opportunities for growth:

  1. Product Innovation: Companies can focus on developing innovative intragastric balloon products with improved safety features and ease of use.
  2. Expanding into Emerging Markets: As awareness of weight loss treatments grows in emerging markets, there is potential for companies to expand their reach and capture new customer bases.
  3. Collaborations and Partnerships: Collaborations with healthcare providers and research institutions can lead to advancements in intragastric balloon technology and improved patient outcomes.
  4. Digital Health Integration: Integrating intragastric balloon procedures with digital health technologies can enhance patient monitoring and support.
  5. Patient Education: Increasing patient education and awareness about intragastric balloons can drive market growth by encouraging more individuals to consider the treatment option.

Challenges

Despite the market’s potential, there are several challenges that need to be addressed:

  1. Regulatory Hurdles: Stringent regulatory requirements for medical devices can slow down the introduction of new intragastric balloon products.
  2. Safety Concerns: There have been reports of complications and adverse events associated with intragastric balloon use, which can impact patient trust and market growth.
  3. Competition from Alternative Treatments: The market faces competition from other weight loss treatments such as diet and exercise programs, medications, and surgical procedures.
  4. Cost Considerations: While intragastric balloon procedures are more affordable than traditional surgeries, they can still be costly for some patients, limiting access.
  5. Limited Long-Term Data: More long-term studies are needed to fully understand the safety and efficacy of intragastric balloons over extended periods.

Read Also: Cellular Health Screening Market Size,Share, Report by 2033

Recent Developments

  • In September 2022, Allurion Technologies, the United States-based medical device manufacturer, launched its weight loss solution, a swallowable gastric balloon, in India.

Intragastric Balloon Market Companies

  • Allurion Technologies
  • Allergan (Acquired by Abbott)
  • Apollo Endosurgery
  • Reshape Medical
  • Spatz FGIA
  • Endalis
  • Silimed
  • Medsil

Segment Covered in the Report

By Balloon Type

  • Single
  • Dual
  • Triple

By Filling Material

  • Saline Filled
  • Gas Filled

By Administration

  • Endoscopy
  • Pill Form

By End-use

  • Hospitals
  • Ambulatory Centers

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://www.expresswebwire.com/

Blog: https://www.uswebwire.com/

Blog: https://www.dailytechbulletin.com/

Blog: https://www.autoindustrybulletin.com/

 


Prathamesh

Leave a Reply

Your email address will not be published. Required fields are marked *