North America Leads the Global Intragastric Balloon Market Share
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| Intragastric Balloon Market |
The global Intragastric Balloon
Market is estimated to be valued at US$
372.6 Million In 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 - 2030, as highlighted
in a new report published by Coherent Market Insights.
Market Overview:
Intragastric balloons are nonsurgical devices that aid in weight loss by
occupying space in the stomach and creating a feeling of fullness. Intragastric
balloons are effective, safe and minimally invasive for weight reduction and
management of obesity or overweight conditions.
Market key trends:
One of the key trends in the intragastric balloon market is the rising preference
for nonsurgical and minimally invasive weight loss procedures. With growing
obesity worldwide, demand for effective yet less invasive weight management
solutions is increasing. Intragastric balloons offer a safe and reversible
option for weight loss without requiring surgery. They help in losing 10-15% of
total body weight within 6 months. This is driving the uptake of intragastric
balloons over high-risk bariatric surgeries.
Segment
Analysis
The global intragastric balloon market is segmented by product, end use and
filling material. By product, single intragastric balloons dominate the market
due to advantages such as easy implantation process and removal. By end use,
hospitals account for the largest share as most bariatric procedures are performed
in hospitals. By filling material, saline-filled intragastric balloons hold the
major market share owing to their low cost.
Key Takeaways
The global Intragastric
Balloon Market size is expected to reach US$ 372.6 Million By 2023, expanding at a CAGR of 9.6% during the forecast period. The market is predicted to
witness high growth due to increasing obesity prevalence worldwide mainly
driven by sedentary lifestyle and unhealthy dietary habits.
Regional analysis
The US dominates the global intragastric balloon market and is expected to
continue its lead during the forecast period. This can be attributed to rising
obesity rates and availability of advanced intragastric balloon devices in the
country. Europe is the second largest regional market backed by growing obese
population and supportive government initiatives to address obesity.
Key players
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,
Semmle. Allergan (Acquired by Abbott) holds the major market share owing to its
diversified portfolio of intragastric balloons and strong geographic presence
worldwide.
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