The Intragastric Balloons Market size is expected to exceed USD 270 million by 2024; as per a new research report by Global Market Insights.
Strong obesity and associated disease prevalence will drive the industry, increasing healthcare expenditure and improved awareness regarding early diagnosis of obesity will fuel business growth. Growing acceptance of minimally invasive techniques should also fuel intragastric balloons market growth. Positive regulatory approval rates of these systems have evolved an effective non-surgical treatment option for obesity and other weight related disorders.
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Extensive use of intragastric balloons owing to cost advantage and presence of large number of industry players offering low priced products should stimulate business demand. The low cost of intragastric balloons compared with other invasive surgical procedures should drive industry growth.
Technological innovation coupled with reduced costs associated with treatment, short hospital stay and reduced recovery time will boost intragastric balloons market growth. Some of the factors such as erosion, damage to the esophagus, persistent nausea and vomiting and bacterial growth within the balloon may hamper demand in the coming years.
The 2015 single intragastric balloons market share, was over 50% of global revenue, with more than 8% CAGR predicted, due to growing awareness coupled with increasing acceptance of non-invasive procedures. Saline filled balloons are set to witness over 9% CAGR, the ability to reduce weight and easy detection of deflation due to methylene blue should stimulate business growth.
The 2015 global industry demand in hospitals was valued at over USD 45 million. Availability of highly skilled professionals, increased preference towards hospitals and high funding opportunities will accelerate industry growth. Some of the prominent industry participants are Apollo Endosurgery, Allurion technologies, ReShape Medical, Obalon therapeutics, Helioscopie Medical Implants, Spatz FGIA.
Browse key industry insights spread across 110 pages with 99 market data tables & 8 figures & charts from the report, “Intragastric Balloons Market Size By Product (Single, Dual, Triple), By Filling Material (Saline, Gas), By End-use (Hospitals, Ambulatory Surgical Centers, Clinics), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, Russia, Poland, Japan, India, China, Australia, Malaysia, Indonesia, Thailand, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Egypt), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents.
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U.S. intragastric balloons market share will be driven by the favorable government initiatives and improved awareness levels. Obesity continues to be a growing epidemic increasing the risk of premature death from stroke, gall bladder, type-II diabetes and some cancers.
France is expected to grow over 10% CAGR during the forecast period. Rising obesity prevalence, growing demand for weight reduction procedures and unhealthy dietary habits will escalate growth.
2015 China intragastric balloons market size was over USD 4 million. Rising prevalence of obesity, improved healthcare infrastructure and growing awareness regarding early diagnosis of obesity should stimulate revenue growth. India should witness more than 10% gains owing to flourishing medical tourism industry and improvement in healthcare amenities to provide quality and cost effective obesity treatment.
Major industry players are consolidating their strategic position by increasing focus strategic alliances, mergers and acquisitions to widen their product portfolio and global presence. Companies are enormously investing on marketing activities including residential awareness programs and digital marketing to expand reach.