by The global Intragastric Balloon Market is estimated to be valued at Us$ 372.6 Mn in 2023 and is expected to exhibit a CAGR Of 9.6% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Intragastric Balloon is a nonsurgical weight loss procedure where a saline-filled intragastric balloon is placed into the stomach through the mouth to reduce hunger. The balloon sits inside the stomach and limits how much food the stomach can hold. It helps reduce appetite and calorie intake and provides temporary weight loss. The intragastric balloon procedure is a minimally invasive technique that allows for significant weight loss in a short period without undergoing surgery. It is a safe and effective procedure for weight management.
Market key trends:
One of the key trends in the intragastric balloon market is the development of dual and triple balloon systems. These dual and triple balloon systems allow for greater stomach restriction and weight loss than single balloon systems. For example, Apollo Endosurgery launched the ORBERA365 dual balloon in 2015, which combines two balloons that are inflated to create a larger restrictive volume in the stomach. Additionally, companies are developing new balloon materials and designs for improved comfort, weight loss efficacy and cost-effectiveness. For instance, Helioscopie Medical developed the ELBALOON made from elastomer material that is smoother and has anti‐adhesion properties for better patient tolerance.
Porter’s Analysis
Threat of new entrants: The intragastric balloon market has moderate threat of new entrants due to high capital investment required for R&D and manufacturing of medical devices.
Bargaining power of buyers: The bargaining power of buyers is low as there are limited options available for obesity treatment and buyers have less influence on pricing.
Bargaining power of suppliers: A few major players dominate the supply market, giving them significant power over price setting.
Threat of new substitutes: Substitutes include bariatric surgeries which have greater risks. Hence, threat from substitutes is low.
Competitive rivalry: The market is consolidated with major players differentiating through technological innovation, however competitive rivalry is high.
Key Takeaways
The Global Intragastric Balloon Market Size is expected to witness high growth, exhibiting CAGR of 9.6% over the forecast period due to increasing obesity prevalence worldwide. The rising healthcare costs of obesity treatment and growing accessibility of minimally invasive procedures are fueling the market growth.
Regional analysis:
North America is expected to dominate the intragastric balloon market owing to robust reimbursement framework, higher obesity rates and technological advancements in the region. Asia Pacific is anticipated to exhibit fastest growth due to growing medical tourism industry and rising obesity rates in developing countries.
Key players operating in the Intragastric Balloon Market are Allergan (Acquired by Abbott), Apollo Endosurgery, Reshape Medical, Helioscopie Medical, Spatz FGIA, Endalis, Districlass Medical, Lexal, Medicone, Obalon Therapeutics, Silimed, Medsil, ReShape Lifesciences, EndoArt, MedSil, Silimed, Medsil, MetaCure, Semmar. Major players are focusing on new product launches, geographical expansion and mergers & acquisitions to garner higher market share.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
