SAN FRANCISCO, April 20, 2020 /PRNewswire/ -- The global intragastric balloon market size is expected to reach USD 90.5 million by 2027, expanding at a CAGR of 12.1% over the forecast period, according to a new report by Grand View Research, Inc. Rise in obesity and increasing demand for minimally invasive procedures are the key factors driving the market.
Key suggestions from the report:
- According to the American Society for Metabolic and Bariatric Surgery (ASMBS) data, nearly 5,000 intragastric balloon implantations have been conducted since the U.S. FDA approval
- The single balloon type segment held the largest share in the market in 2019. The triple type is expected to witness significant growth over the forecast period
- By filling material, gas-filled systems are anticipated to witness lucrative growth over the forecast period
- Based on end use, hospitals held a significant share in 2019. Ambulatory surgical centers are expected to witness considerable growth from 2020 - 2027
- On the basis of administration, endoscopy held the dominant market share in 2019. Pill form is expected to witness lucrative growth over the forecast period
- North America dominated the intragastric balloon market in 2019 due to the presence of a large obese population and high adoption of bariatric procedures. Asia Pacific is expected to witness remunerative growth over the forecast period
- Some of the key companies operating in the market are Apollo Endosurgery, Inc.; Obalon Therapeutics, Inc; ReShape Medical, Inc; Allurion Technologies, Inc.; Spatz3; Helioscopie; Endalis; MEDSIL; and Lexel Medical
Read 104 page research report with ToC on "Intragastric Balloon Market Size, Share & Trends Analysis Report By Administration (Pill Form, Endoscopy), By Balloon Type (Single, Dual, Triple), By Filling Material, By End Use, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/intragastric-balloon-market
Intragastric balloons are one of the most widely adopted endoscopic bariatric therapy devices in the clinical settings. This can be attributed to complications associated with surgical weight loss treatments and the low eligibility criteria for surgical options, thus leading to a rise in demand for effective minimally invasive weight-loss treatment options.
Safety concerns associated with intragastric balloons are anticipated to make the regulatory framework more stringent for pre-market and post-market scrutiny process of these devices. For instance, in 2019, Apollo Endosurgery Inc. revised the labeling of its Orbera intragastric balloon system to include contradiction clarifications, precautions related to anticholinergic and psychotropic medications, and updated U.S. adverse event tables after it received FDA safety letter.
Nonetheless, extensive research activities related to the development of innovative and novel systems and up-gradation of existing intragastric balloons to overcome the shortcomings of the traditional systems are anticipated to facilitate the intragastric balloon market growth.
Grand View Research has segmented the global intragastric balloon market based on administration, balloon type, filling material, end use, and region:
- Intragastric Balloon Administration Outlook (Revenue, USD Million, 2016 - 2027)
- Pill Form
- Intragastric Balloon Type Outlook (Revenue, USD Million, 2016 - 2027)
- Intragastric Balloon Filling Material Outlook (Revenue, USD Million, 2016 - 2027)
- Saline Filled
- Gas Filled
- Intragastric Balloon End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Ambulatory Surgical Centers
- Intragastric Balloon Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The Netherlands
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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