Obesity rates are on the rise globally, and it is becoming a major health concern in the world. According to the World Health Organization (WHO), in 2016, more than 1.9 billion adults were overweight, and 650 million of them were declared obese.  Intragastric balloons help in weight reduction without surgery, which is leading to increased adoption by the healthcare industry. This resonates with findings documented in a report by IndustryARC which estimates that the intragastric balloon market size will attain a valuation of $279.77m by 2023. The forecast period 2018 to 2023 will witness a growth in demand for intragastric balloons at a CAGR of 25.47%.
A report by IndustryARC titled, “Intragastric Balloons Market: By Filler material (Fluid-Filled, Air-Filled); By Type (Single, Double, Triple); By End User (Hospitals, Clinics, Others); By Geography (Americas, Europe, APAC, RoW) - Forecast (2018-2023)”, documents the latest trends driving adoption and challenges in the market. Furthermore, the report provides details pertaining to the latest innovations and business strategies by vendors in the intragastric balloon market.
Intragastric Balloon Market: Geographical Analysis & Leading Segments
The Americas had the maximum share in the intragastric balloon market with $26.5m revenue in 2017. Owing to advanced healthcare infrastructure in countries such as the U.S., Mexico, Canada, Brazil, and others, the intragastric balloon market is booming in the region. Another driver of the market in the region is the growing population of obese people in countries such as Mexico and the U.S. The Americas is witnessing major lifestyle changes with the inculcation of technology across sectors which is changing the way people work, while the fast food culture is leading to increasing incidences of obesity. This is significantly boosting the intragastric balloon market in the region.
With regard to application segments, the market is segregated into fluid-filled and air-filled intragastric balloons. Fluid-filled intragastric balloons generated maximum revenue for the global intragastric balloon market, and the application segment is estimated to grow at a CAGR of 23.54% through to 2023.
Intragastric Balloon Market: Trends and Growth Drivers
· Short Recovery Time and Hospital Stay –
Unlike conventional weight reduction surgeries, the intragastric balloon technique ensures a shorter recovery time, which is driving more people to opt for intragastric balloon treatment. It also reduces expenditure on the hospital stay by patients.
· The Rise in Per Capita Income –
There has been a significant increase in people’s disposable personal income, all over the world. Thus, people are able to afford intragastric balloon treatment, which is playing a vital role in increasing revenues for the intragastric balloon market.
“The robust customer-base with increasing disposable income is creating a lucrative pricing environment for the vendors, and the future foresees more customers opting for intragastric balloon treatment, which will expand the intragastric balloon market size.”; highlights the intragastric balloon market intelligence report.
· Government Initiatives Driving the Intragastric Balloon Market –
The U.K. government’s Food Standards Agency has been creating awareness about obesity by conducting numerous programs in order to reduce obesity rates. Similarly, there is increasing awareness about obesity across the globe as governments worldwide are taking measures to reduce the catapulting obesity rates worldwide. This is creating multiple avenues for generating revenue for existing and new players in the intragastric balloon market.
Intragastric Balloon Market: Competitive Landscape
Some of the key companies identified in the intragastric balloon market intelligence report are Apollo Endosurgery, Inc., Obalon Therapeutics, Inc., Districlass Medical SA, Silimed-Silicon Instrumental Medico-Cirurgico E Hospitalar Ltda., Helioscopie (Owned Groupe Sante Actions), Reshape Medical, Inc., Davol Inc., Spatz FGIA Inc., Endalis, and Allurion Technologies, Inc.
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What can you expect from the report?
The intragastric balloon market report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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