Intragastric Balloon Market size to exceed $77.9mn by 2028

Intragastric Balloon Market size is set to exceed USD 77.9 million by 2028, according to a new research report by Global Market Insights Inc.
 

The intragastric balloon industry is anticipated to witness significant CAGR due to high demand for minimally invasive surgical procedures. For instance, the cost of gastric balloon procedure is about one-third the cost of bariatric surgery procedure. In addition to cost-effectiveness, intragastric balloon procedure is minimally invasive in comparison to other bariatric procedures. Thus, as a result, intragastric procedures are affordable alternatives for reducing excess weight, which should escalate the demand for intragastric balloons, thereby fostering the overall market demand.
 

Rising demand for minimally invasive techniques is expected to predominantly drive the market statistics

Rising demand for minimally invasive techniques is expected to impel the market growth. Administration of intragastric balloon does not require incision or surgery. Moreover, time taken for implantation is just 20-30 minutes as compared to other bariatric surgeries that require minimum 2-3 days of hospitalization. Also, reduced recovery period and hospitalization associated with intragastric balloon implantation procedure is expected to increase adoption rates, thereby augmenting the market share.
 

Complications and risks association with intragastric balloon may hamper the intragastric balloon market growth

Post-procedural complications will be a major factor that may restrain the market growth. The common side effects following installations and removal of the balloon include stomach cramps, nausea, vomiting and bloating. Complications and risks after procedure include damage to the esophagus or stomach as the tube is fitted through the mouth. This process may result in bleeding, ulcer formation and discomfort to the patients. Furthermore, risk of bacterial growth within the balloon and intestinal obstruction caused by balloon leaking or deflating are other complications that may deter patients from opting for this procedure. Such complications and risks association with intragastric balloon may slow down the market demand.
 

Several advantages associated with dual intragastric balloon will spur the segmental outlook

By product, the intragastric balloon market is segmented into single intragastric balloon, dual intragastric balloon and triple intragastric balloon. The dual intragastric balloons segment accounted for around 20% market share in 2021 and is expected to show significant CAGR of 23.8% during the analysis period. High segmental growth rate is attributed to advantages associated with dual intragastric balloon as compared to single intragastric balloon such as more weight loss in limited timeframe. This is due to presence of two-connected, independently sealed balloons containing about 900ml of sterile saline.
 

Browse key industry insights spread across 120 pages with 88 market data tables & 13 figures & charts from the report, “Intragastric Balloon Market Statistics By Product (Single Intragastric Balloon, Dual Intragastric Balloon, Triple Intragastric Balloon), By Filling Material (Saline-filled, Gas-filled), By End-use (Hospitals, Ambulatory Surgical Centers, Clinics), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/intragastric-balloon-market
 

Gas-filled balloon segment is expected to show significant growth during the analysis period

By filling material, the intragastric balloon market is classified into saline-filled balloon and gas-filled balloon. The gas-filled balloon segment is expected to register 13.9% CAGR during the forecast timeframe. The gas-filled balloon is made of three layers, two internal layers made of polyurethane and the external layer of silicone. High segmental growth is owing to factors such as digital imaging to check the balloon inflation state, bacteria resistance, gastric acid resistance and lightweight. The quality of the balloon to ameliorate patient compliance at removal and avoidance in spontaneous deflations will further contribute significantly to upsurge the industry expansion.
 

Cost-effective services, quality of patient care and a convenient environment constitutes make ambulatory surgical centers as better option

By end-use, the intragastric balloon market is bifurcated into hospitals, ambulatory surgical centers and clinics. The ambulatory surgical centers segment is expected to reach USD 28.3 million during the projected timeframe. Ambulatory Surgical Centres (ASCs) perform outpatient surgeries in a fully equipped operating room without the hospital admission. The quality of patient care, cost-effective services and a convenient environment constitutes to ambulatory surgical centers as a better option over hospitals and clinics. Other factors such as reduced recovery period and same-day discharge will fuel ambulatory surgical centers segment demand over the coming years.
 

Increasing prevalence of obesity and overweight in the countries of Europe will propel the regional market statistics

Europe intragastric balloon market is expected to register 14.7% CAGR during the forecast period owing to high pervasiveness of obesity in the region. According to the Organization for Economic Co-operation and Development (OECD), one in six adults is obese while one in two is overweight in Spain. Children obesity rates are also high in the country. Also, as per OECD data, the number of overweight adults is expected to increase by 10% over the next decade. A similar trend is observed across all countries in Europe region. Thus, growing levels of obesity owing to prevailing trend of consumption of junk food coupled with the easy availability of low-cost high calorie foods and adoption of sedentary lifestyle are collectively anticipated to fuel the industry forecasts.
 

Increasing partnership and approval strategies are noted to strengthen their business portfolio and revenue

Some of the prominent market players involved in intragastric balloon market are Allurion Technologies, Districlass Medical, Apollo Endosurgery, Helioscopie Medical Implants, Medsil, ReShape Medical and Spatz among others. These firms adopt strategic initiatives including mergers and acquisitions, new product launch and geographical expansion.