Global Intragastric Balloons Market is projected to grow at a CAGR of 12.2% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Intragastric Balloons Market by Type (Single, Dual, Triple), Administration (Endoscopy, Pill Form), Filling Material (Gas Filled, Saline Filled), End-Use (Ambulatory Surgical Centers, Clinics, Hospitals), Regions, and Global Forecast 2020-2027.
The global intragastric balloons market is expected to grow from USD 35.91 million in 2019 to USD 90.2 million by 2027, at a CAGR of 12.2% during the forecast period 2020-2027. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2020-2027. This growth is due to factors like rising unhealthy lifestyle habits, availability of relatively low-cost treatment, and an increasingly obese population. On the other hand, the North America region accounted for the major market share of 42.8% in the year 2019 and is anticipated to grow throughout the projected period. The large share of this segment is attributed to key factors such as the high popularity of weight loss treatments, the high pervasiveness of obesity, and the availability of skilled professionals.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the global intragastric balloons market are Apollo Endosurgery, Inc., MEDSIL, Obalon Therapeutics, Inc., Spatz Fgia, Inc., Allurion Technologies, Inc., Helioscopie, Lexel Medical, and ReShape Medical, Inc., among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global intragastric balloons market.
The type segment includes single, dual and triple. The triple balloon type segment is expected to witness high growth during the projected timeframe due to the various benefits offered by the triple balloon system, like fully minimal downtime and reversible treatment. The administration segment includes endoscopy and pill form. Endoscopy dominated the market and was valued at USD 23 million in the year 2019. Endoscopic procedures are much less invasive & cost-effective in contrast with bariatric surgery. The filling material segment includes gas filled and saline filled. The gas-filled is forecasted to growth at the highest CAGR owing to the reports of adverse effects observed in saline-filled intragastric systems. The end-use segment includes ambulatory surgical centers, clinics, and hospitals. Hospitals dominated the market and held the largest market share of 47.6% in the year 2019. The large share of this segment can be attributed to factors such as the availability of hi-tech medical equipment in hospital settings, availability of skilled professionals, and weight-loss treatment options that require a hospital stay.
About the report:
The global intragastric balloons market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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