Global Intragastric Balloon Market Size, Navigating Future Markets 2024-2032

Intragastric Balloon Market Size And Forecast

Intragastric Balloon Market size was valued at USD 20.41 Billion in 2023 and is projected to reach USD 47.58 Billion by 2031, growing at a CAGR of 11.16% during the forecast period 2024-2031.

Global Intragastric Balloon Market Drivers

The market drivers for the Intragastric Balloon Market can be influenced by various factors. These may include:

• Increasing Obesity Rates: Rising obesity rates globally are one of the primary drivers for the growth of the Intragastric Balloon Market. As obesity becomes a prevalent health concern, there is a growing demand for minimally invasive weight loss procedures like intragastric balloon placement.
• Advancements in Technology: Continuous advancements in medical technology, including the development of improved materials and designs for intragastric balloons, are driving market growth. These advancements lead to safer and more effective procedures, encouraging both patients and healthcare providers to opt for intragastric balloons as a weight loss solution.
• Minimal Invasiveness and Quick Recovery: Intragastric balloon procedures are minimally invasive compared to other weight loss surgeries like gastric bypass or sleeve gastrectomy. Patients often prefer these procedures due to shorter recovery times and fewer complications, thus driving market demand.
• Increasing Awareness: Growing awareness about the health risks associated with obesity and the availability of different weight loss options is driving the demand for intragastric balloons. As people become more educated about the benefits of these procedures, the market is expected to expand.
• Supportive Regulatory Environment: Supportive regulatory frameworks and approvals from regulatory bodies for intragastric balloon devices contribute to market growth. As these devices gain regulatory approval in more regions, their adoption rate increases.
• Rising Healthcare Expenditure: Increasing healthcare expenditure, particularly in developed economies, allows more individuals to afford procedures like intragastric balloon placement. Moreover, insurance coverage for these procedures in some regions further boosts market growth.
• Collaborations and Partnerships: Collaborations and partnerships between medical device companies and healthcare providers facilitate the adoption of intragastric balloon procedures. These collaborations often lead to increased accessibility and affordability of the procedure, further driving market growth.
• Patient Preference for Non-Surgical Options: Many individuals prefer non-surgical weight loss options due to concerns about the risks and complications associated with traditional weight loss surgeries. Intragastric balloons offer a non-surgical alternative, attracting patients who are hesitant to undergo invasive procedures.

Global Intragastric Balloon Market Restraints

Several factors can act as restraints or challenges for the Intragastric Balloon Market. These may include:

• Regulatory Approval Difficulties: Before being marketed and sold, intragastric balloons are medical devices that need to have regulatory approval. The expansion of the market may be hampered by delays or challenges in receiving regulatory approval.
• Limited Reimbursement rules: Different regions have different reimbursement rules, and in certain places, coverage for intragastric balloon treatments can be restricted or nonexistent. Adoption and patient access rates may be impacted by this.
• Complications Risk: Although intragastric balloon treatments are typically regarded as safe, there is a chance of problems such intestinal blockage, balloon deflation, or gastric ulcers. Some patients and healthcare professionals may be discouraged from choosing this treatment due to concerns about these hazards.
• Expensive: For certain individuals, the expense of intragastric balloon treatments may be unaffordable, especially if insurance does not cover them or if reimbursement is restricted. Exorbitant upfront costs may reduce consumer demand.
• Treatment’s Temporary Nature: Intragastric balloons are usually taken out after several months, and without lifestyle modifications, weight loss outcomes might not last over time. Certain patients can be reluctant to have a short-term surgery done if the long-term advantages are unclear.
• Restricted Effectiveness for Extreme Obesity: The best candidates for intragastric balloon therapy are those who are moderately obese; extreme obesity is not a good candidate for these devices. This could limit the market’s expansion among individuals who require more drastic weight loss measures.
• Competing Therapies for Weight Loss: Other methods of weight loss, like medication, lifestyle changes, and bariatric surgery, are in competition with intragastric balloons. The demand for intragastric balloons may vary depending on these alternative treatments’ efficacy and availability.
• Requirements for Patient Selection: Patients who are not extremely obese but have not found success with conventional weight loss techniques are usually advised to undergo intragastric balloon treatments. Rigid patient selection standards could reduce the number of qualified patients and, thus, the market’s potential.

Global Intragastric Balloon Market Segmentation Analysis

The Global Intragastric Balloon Market is Segmented on the basis of Balloon Type, End-User, Filling Material, and Geography.

Intragastric Balloon Market, By Balloon Type

• Single Intragastric Balloon: This segment includes balloons that are designed to be placed individually in the stomach.
• Dual Intragastric Balloon: These balloons come in pairs and are inserted into the stomach simultaneously.

Intragastric Balloon Market, By Filling Material

• Saline-filled Balloons: Balloons filled with a saline solution.
• Gas-filled Balloons: Balloons filled with gas, typically nitrogen or air.

Intragastric Balloon Market, By End-User

• Hospitals: Balloons used in hospital settings, often under the supervision of medical professionals.
• Ambulatory Surgical Centers (ASCs): Facilities that provide same-day surgical care, where intragastric balloon insertion procedures can be performed.
• Clinics: Medical clinics where intragastric balloon procedures are conducted.

Intragastric Balloon Market, By Region

• North America: Market segments focusing on the United States and Canada.
• Europe: Market segments covering countries in Europe such as the United Kingdom, Germany, France, etc.
• Asia Pacific: Segments representing markets in countries like China, Japan, India, Australia, etc.
• Latin America: Market segments covering countries in Central and South America.
• Middle East & Africa: Market segments focusing on countries in the Middle East and Africa region.

Key Players

• Silimed
• Spatz
• Apollo Endosurgery
• ReShape Medical
• Medsil
• Helioscopie Medical Implants
• Districlass Medical
• Lexel
• Allurion Technologies
• Obalon Therapeutics
• Reshape Lifesciences
• Abbott
• Endalis

Report Scope

Research Methodology of Market Research

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support.

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