Intragastric Balloon Market Size

Intragastric Balloon Market Size

Intragastric Balloon Market size exceeded USD 34 million in 2021 and is anticipated to grow at CAGR of over 13.4% between 2022 to 2028. The market growth is attributed to the low treatment cost as compared to other treatments coupled with high prevalence of obesity. Adoption of sedentary lifestyle as well as unhealthy diet & alcohol abuse are some of the major causes of growing incidence of obesity.

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The spread of COVID-19 pandemic across the globe has impacted the market negatively. Individuals with an underlying condition including obesity are at high risk during the COVID-19 pandemic. For instance, in March 2021, as per the Center for Disease Control and Prevention (CDC), nearly 30.2% of the total COVID-19 hospitalizations were attributed to obesity. Similarly, increase in number of COVID-19 infections across several countries has resulted in delaying or postponing the non-essential surgical procedures including gastric balloon procedures. Also, various companies witnessed a significant dip in the sales of gastric balloon products in 2020 due to the COVID-19 pandemic.

Technological advances in intragastric balloon providing effective treatment is expected to boost the market expansion during the forecast period. Advances to reduce undesirable effects such as gastric erosion, ulceration and vomiting is poised to foster the business growth. Furthermore, gastric balloons are placed into the stomach through mouth and normally takes not more than half hour, during which a patient is under mild sedation. The balloons are designed to be in place for around half year duration.