Key players in the intragastric balloon market include Allurion Technologies, Apollo Endosurgery, Districlass Medical, Obalon Therapeutics and Reshape Lifesciences, Spatz FGIA Inc., Helioscopie, MedSil, Lexel Medical, and Endalis.
Pune, India, April 8, 2021 (GLOBE NEWS) –
The size of the global intragastric balloon market in the forecast period should witness profitable growth rates, given the growing prevalence of obesity, the demand for modern non-surgical therapies around the world has prompted the need for intragastric balloons, as they offer countless benefits. including shorter hospital stays, no blood loss, and surgery. Moreover, the economical price of intragastric balloons has also increased the demand for these treatments, which has changed the growth spectrum of the global intragastric balloon industry.
In addition, rising health care costs are likely to boost demand for low-cost treatment options. Some of the fundamental regional trends that are expected to change the overall market picture are outlined below:
Obesity Rise in North America
When looking at the prevalence of obesity in the region, it is important to note that obesity and overweight are ranked as the second leading cause of preventable deaths in the United States, according to the National Institutes of Health. This can be attributed to the spread of unhealthy diets and sedentary lifestyles.
These factors appear to have triggered the need for non-surgical procedures for the treatment of obesity, paving the way for the growing adoption of intragastric balloons in the region. In fact, it has been reported that the US is expecting a notable 18% increase by 2026 in the North American intragastric balloon market. According to reports, the North American market is poised to record a CAGR of 17.6% over the forecast time frame.
Access sample report pages, “North American intragastric ball market forecasts up to 2026”Details together with a table of contents (ToC) @
The use of double intragastric balloons in America
This can be explained by the growing importance of double intragastric balloons in this region. These balloons have gained huge popularity in the North American economy due to the fact that they contribute to faster weight loss in a limited time due to the presence of two interconnected balloons. In fact, the segment of double intragastric balloons in the regional market is ready to show a growth rate of 37%.
AT North American intragastric balloon market is highly concentrated and boasts the presence of some of the distinguished industry leaders including Apollo Endosurgery, Allurion Technologies, Obalon Therapeutics, Districlass Medical and Reshape Lifesciences. These companies are pursuing flamboyant strategies such as mergers, acquisitions and product diversification to gain a competitive edge.
For example, in October 2017, Spatz announced a partnership with HUMII clinics in Canada to commercialize and supply its flagship product, the Spatz adjustable gastric balloon. It is expected that this alliance will expand the geography of the company’s presence.
Vulnerability of the Asian Population to Metabolic Disease
The Asia-Pacific intragastric balloon market is poised to record an annual reward of US $ 13 million by the end of 2026, given the rising prevalence of obesity and higher susceptibility to metabolic diseases in Asian countries. The region has some of the highest obesity rates, according to the Asian Development Bank Institute. In addition, an increasingly sedentary lifestyle associated with an increase in unhealthy food consumption has further increased obesity rates in Asian countries.
In the product segment, the Asia-Pacific dual-cylinder segment is expected to grow 33% by 2026, primarily driven by benefits such as faster and more efficient weight loss and improved patient comfort.
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Increase in the number of hospitals throughout Asia
Intragastric balloon procedures are mainly performed in hospitals in the region, given the availability of skilled nurses and the quality of post-procedural care. Experts estimate that in the coming years, the hospital segment will account for 17.9% of the Asia-Pacific market.
At the regional level, Asia-Pacific intragastric balloon market is subdivided into vibrant economies, the growth of which is likely to come from China. It was announced that the Chinese market will record a CAGR of 21% between 2020 and 2026 as the rise in obesity is causing a spurt for these products and procedures. Accordingly, the low cost of the procedure and the presence of qualified healthcare professionals are also considered to be the driving forces of medical tourism in the country.
Preference for non-surgical treatment in Europe
According to statistics from the Organization for Economic Co-operation and Development, nearly 35% of the United Kingdom’s population was obese during 2017. This count allowed people to focus on the use of non-surgical treatment procedures, including intragastric balloons.
Apart from the United Kingdom, France is also likely to generate significant profits in the European intragastric balloon market. This can be attributed to an increase in the number of bariatric procedures and a high rate of obesity. At the same time, France accounted for 30% of the entire industry in Europe.
Access sample report pages, “Forecasts of the European intragastric ball market up to 2026”Details together with a table of contents (ToC) @
In Europe, there is an increase in demand for gas-filled intragastric cylinders
Based on the intragastric balloon filling materials, it was observed that the gas filled balloon segment acquired a major share of 36% in 2016 and is hoping to generate huge profits in the coming years. The demand for this material is driven by its key benefits, including resistance to stomach acid and bacteria, and light weight. Intragastric balloons improve patient compliance during removal and are generally resistant to spontaneous deflation.
People had a strong preference for bariatric procedures in hospitals, which also led to demand for intragastric balloons in Europe… In fact, the industry’s share of the hospital segment in Europe is projected to grow by 19% between 2020 and 2026, due to an increase in the number of patients seeking obesity treatment in healthcare settings.
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