by Intragastric balloons are medical devices temporarily placed in the stomach to treat obesity and type 2 diabetes. They provide gastric volume displacement and early satiety, promoting weight loss.
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 key trends
R&D investments by key players is one of the key trends driving the growth of the intragastric balloon market. To maintain a competitive edge, manufacturers are focusing on developing innovative products with enhanced features. For instance, in 2021, Apollo Endosurgery expanded its product portfolio by launching the ORBERA Balloon System, an intragastric balloon approved for 6 months. The ORBERA system allows patients to remain on the balloon for 6 months, with adjustments as needed, versus previous models that were limited to just 3 months. Such product innovations are expected to boost the adoption of intragastric balloons globally during the forecast period.
Segment Analysis
The global intragastric balloon market is segmented by product into single balloon, dual balloon, and triple balloon. The single balloon segment dominates the market and accounts for over 60% share. Single balloons are preferred alternative to gastric bypass procedures due to their safety profile and effectiveness in weight reduction.
Key Takeaways
The global Intragastric Balloon Market Share is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis suggests North America dominates the market currently due to technological advancements and rising obesity rates. However, Asia Pacific region is expected to grow at the fastest pace due to increasing healthcare expenditure and growing medical tourism industry.
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. Allergan is a leading player in the intragastric balloon market with over 30% value share. Its acquisition by Abbott has strengthened its product portfolio and distribution network globally. Apollo Endosurgery offers innovative surgical platforms and provides customizable intragastric balloons.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
