Intragastric Balloons Market Size By Product (Single Intragastric Balloons, Dual Intragastric Balloons, Triple Intragastric Balloons), By Filling Material (Saline-filled, Gas-filled), By End-use (Hospitals, Ambulatory Surgical Centers, Clinics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Brazil, Argentina, Mexico, South Africa, Saudi Arabia, UAE, Egypt), Application Potential, Competitive Market Share & Forecast, 2018 - 2024
Latest Update: November 2018 | Published Date: February 2017 | 110 Pages | Report ID: GMI1173 Report Format: PDF
Intragastric Balloons Market size was valued at USD 38.2 million in 2017 and is expected to witness more than 15.1% CAGR from 2018 to 2024.
India Intragastric Balloons Market Size, By Product, 2017 & 2024, (USD Million)
Rising prevalence of obesity will boost market growth during the foreseeable future. Adoption of sedentary lifestyle along with unhealthy diet and alcohol abuse are the major causes of growing incidences of obesity. According to World Health Organization (WHO), in 2016, more than 1.9 billion people across the globe were overweight and about 650 million people were obese. High prevalence of obesity will lead to high adoption rate of intragastric balloon during the projected timeframe.
Technological advances in intragastric balloon providing effective treatment is expected to boost market growth in the foreseeable future. Advances to reduce undesirable effects such as gastric erosion, ulceration and vomiting will foster business growth. For instance, novel systems such as Spatz adjustable balloon and ReShape Duo are specially designed with antimigration properties will prevent migration and allow balloon volume adjustment. Such advancements will propel intragastric balloon industry growth during the projected timeframe.
Increased influence of minimally invasive techniques will boost demand for intragastric balloons over the forecast period. Intragastric balloons are introduced orally and do not require any incision followed by inflation of balloon with saline solution or gas. Increasing approval of intragastric balloons system should serve as effective non-surgical treatment options to treat obesity and weight related diseases.
Intragastric Balloons Market, By Product
Single intragastric balloon market valued USD 29.8 million owing to high adoption rate. Rising awareness coupled with increasing adoption of non-invasive procedures should boost demand for single balloon. Increasing number of obese patients coupled with improved product design will boost single intragastric balloons market demand over the forecast period. Various technological advances for improving patient outcomes and development of next generation intragastric balloon will spur demand for single intragastric balloons in forthcoming years.
Triple intragastric balloon market will expand at 21.1% CAGR during the forecast timeframe. The development of new devices such as capsule or pill that can be placed in stomach inducing weight reduction will escalate demand for triple intragastric balloons. Increasing demand for cost effective and minimally invasive techniques for weight reduction will spur intragastric balloons market growth.
Brazil Intragastric Balloons Market Size, By Product, 2017 (USD Million)
Intragastric Balloons Market, By Filling Material
Saline filled intragastric balloons business accounted for largest revenue of USD 24.3 million in 2017. Ability to reduce weight mope effectively and quick detection of silicone balloon deflation due to methylene blue dye and will favor adoption rate. The American Society of Gastrointestinal Endoscopy, states that most of the patients undergoing Saline-filled intragastric balloon treatment seem to lose about one quarter of body weight. Aforementioned factors will favor segmental growth in the future.
Gas-filled balloon market will grow at a remarkable rate of 15.5% during the forecast timeframe. The segmental growth is attributable to three layers of bacteria resistant material that reduces chances of undesirable effects and improves patient’s comfort in case of deflation. Moreover, the quality of the balloon to ameliorate patient compliance at removal and avoidance in spontaneous deflations will boost market growth rate.
Intragastric Balloons Market, By End-User
Intragastric balloon hospitals business will grow with a remarkable rate of 14.6% during the forecast timeframe. Segmental growth is due to rising number obesity cases across the globe. Moreover, government policies for implementation of high-quality patient care will attract large number of patients in hospitals to seek treatments. Growing disease burden and increasing healthcare investments will favor segmental growth in the future.
Intragastric balloon use in ambulatory surgical centres accounted for revenue of USD 13.41 million in 2017. The segmental growth is attributable to increasing demand for short hospital stays and economical treatments for treatment of obesity cases. Ambulatory surgical centres offer single day obesity treatment and lower procedural costs will favour growth of ambulatory surgical centres market in the upcoming period.
Intragastric Balloons Market, By Region
U.S. intragastric balloon market contributed to largest revenue of USD 1.3 million in North America in 2017. High pervasiveness of obesity in U.S. will be the major factor for regional growth. According to Organisation for Economic Co-operation and Development (OECD), about 47% of the total population suffer from obesity in 2017. Presence of well-established healthcare infrastructure coupled with favourable regulatory scenario should drive industry growth.
Europe Intragastric Balloons Market Size, By Country, 2024 (USD Million)
Indian intragastric balloon market is forecasted to expand at a CAGR of 15.7%, owing to increasing prevalence of obesity. According to a study published in International Journal of Community Medicine and Public Health, more than 100 million people in India suffer from obesity. Moreover, escalating medical tourism to treat obesity due to significant improvement in quality of healthcare amenities and lower cost is expected to favor industry growth.
Competitive Market Share
Few of the notable industry players operating in global intragastric balloon market are Allurion Technologies, Districlass Medical, Apollo Endosurgery, Lexel, Helioscopie Medical Implants, Medsil, Obalon Therapeutics, ReShape Medical, Silimed and Spatz. These companies adopt strategies such as novel product launch, mergers and acquisitions to foster business in Intragastric Balloon industry. For instance, in April 2018, Apollo Endosurgery Inc., announced that it received Saudi Food and Drug Authority (SFDA) approval for its ORBERA365 Managed Weight Loss System. This approval will enable company to expand its customer base in emerging market and drive revenue generation.
Intragastric Balloons Industry Background
Intragastric Balloon have been in use for treatment of obesity and induction of weight loss since 1985. Numerous upgradations and technological advancements have been done for optimal results and reduction of associated complications. Various intragastric balloons were approved for sales in Europe and South America since 1985. However, the U.S. FDA did not approve any new devices until 2015 owing to various adverse events and accompanied complication. Currently only three FDA approved intragastric balloons are being marketed in the U.S. However, U.S. has the highest number of people suffering from obesity with about 47% of the total population. As the number of patient pool is very large, there will be high growth rate for intragastric balloon industry in the future. Also, with presence of limited number of market players involved in development of intragastric balloon, industry will witness momentous growth during the forecast timeframe.
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