Intragastric Balloon Market Size By Product (Single Balloon, Dual Balloon, Triple Balloon), By Filling Material (Saline-filled, Gas-filled), 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, and South Africa, Saudi Arabia, UAE, Egypt), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: February 2017 | 100 Pages | Report ID: GMI1173 Report Format: PDF
Intragastric Balloon Market size was around USD 120 million in 2015, growing at over 9.5% CAGR from 2016 to 2024.
UK Intragastric Balloon Market, By Product, 2012 - 2024 (USD Million)
Increasing obesity prevalence along with chronic diseases associated with obesity and growing awareness for early disease diagnosis should drive global market size. Obesity is considered as primary risk factor for developing coronary heart diseases, diabetes, high BP, and stroke leading to death. According to WHO estimates, global obese population has doubled since 1980 with U.S and Sub-Saharan countries holding the highest share.
Increased adoption of minimally invasive techniques should boost intragastric balloon industry demand. These are introduced through mouth without any incision post which the balloon is inflated with saline solution or gas. Increasing approval of intragastric balloon system should serve as effective non-surgical treatment option to treat obesity and weight related diseases.
Technological advances in endoscopic management of obesity should spur intragastric balloon market growth. Usage has become more common among obese people due to its commercial availability. Novel systems such as ReShape Duo and the Spatz adjustable balloon specially designed with antimigration properties should prevent migration and allow balloon volume adjustment.
Several complications such as nausea and vomiting persisting for more than a week among two-thirds of patients will hamper growth. Other adverse events such as gastric erosion and ulceration should limit business expansion.
Intragastric Balloon Market, By Product
Single intragastric balloon market share, of over 70% in 2015, is set to grow close to 8.5% CAGR. Rising awareness coupled with increasing adoption of non-invasive procedures should boost demand. Dual balloon will witness more than 9.8% CAGR, to exceed USD 88 million by 2024. Growing obese patient pool coupled with rising incidence of diabetes, improved product design should boost dual intragastric balloon market demand over the forecast period.
Triple intragastric balloon industry is expected to witness over 12% CAGR from 2016 to 2024. The development of new techniques such as pill or capsule which can be placed up to 3 numbers in stomach facilitating weight reduction will boost the demand for triple balloons. Rising demand for low-cost, minimally invasive procedures for weight loss over the bariatric surgeries such as gastric bypass, sleeve gastrectomy is expected to further increase the adoption rates of balloon treatment among obese patients.
Intragastric Balloon Market, By Filling Material
Saline-filled balloons led the industry revenue share in 2015, witnessing over 9% CAGR from 2016 to 2024. Easy detection of deflation of silicone balloons due to methylene blue dye and ability to reduce weight should augment industry growth over the forecast timeframe.
Gas-filled intragastric balloon market will witness healthy 10% CAGR. Bacteria resistant design of gas-filled balloons comprising of three layers improves the patient’s comfort in case of deflation will stimulate business growth.
Intragastric Balloon Market, By End-use
Hospitals held around 40% of intragastric balloon market share in 2015, with expectations to surpass USD 100.0 million by 2024. Increasing usage rates, high funding and availability of highly skilled professionals compared to ambulatory surgical centres and clinics will accelerate the industry growth. Ambulatory surgical centres should grow over at 9.7%. Reduction in recovery period with shortened hospital stays, enhanced quality of patient care and cost-effectiveness of services will boost business.
Clinics market size is expanding at 10.0% CAGR from 2016 to 2024. Rising spending on healthcare facilities is expected to fuel the global clinics market growth over the forecast period.
Intragastric Balloon Market, By Region
U.S. market share held over 85% of regional revenue in 2015. According to OECD, obesity prevalence in U.S. accounts for 35% in 2014. Rising instances of obesity increases the risk of premature death from stroke, heart disease, gall bladder disease, type 2 diabetes and some cancers. Presence of established healthcare infrastructure coupled with favourable regulatory scenario should drive industry growth.
France market size was valued at USD 4.8 million in 2015 and is expected to witness more than 10.5% over the forecast period. Increased prevalence of obesity, rising demand for weight reduction procedures should escalating demand for intragastric balloons.
India market share was more than 14% of regional revenue in 2015, and expected to grow at over 10.5% CAGR from 2016 to 2024. Rising demand for medical tourism to treat obesity due to excellent healthcare amenities in terms of cost and quality is expected to accelerate the industry growth.
Brazil will witness more than 10% CAGR, rising per capita healthcare expenditure, rapid expansion of public healthcare services, increasing number of doctors, demand for minimally invasive procedures is anticipated to fuel business growth.
Competitive Market Share
Some of the key players include Allurion Technologies, Silimed, Districlass Medical, Obalon Therapeutics and ReShape Medical. Other notable players include Lexel, Medsil, Apollo Endosurgery, Spatz, Life Partners Europe and Helioscopie Medical Implants.
Geographic expansion, strategic acquisitions and mergers are the major strategies implemented by most companies operating in the intragastric balloon market.
Intragastric Balloon Industry Background
Global intragastric balloon market is driven by the growing government focus on reducing cost burden due to rising prevalence of obese population across the world. Based on the growing awareness of the advantages of minimally invasive treatments over the bariatric surgeries, the market is expected to witness tremendous growth in the future. Technological advances and increased acceptance of intragastric balloons among obese people should create lucrative growth opportunities in emerging markets.
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