Ocean View, DE -- (SBWire) -- 05/07/2020 --Intragastric Balloons Market will exceed USD 85 million by 2025; as per a new research report.
Increasing demand for intragastric balloons due to increasing prevalence of obesity will lead to industry growth in the future. According to the World Health Organization, in 2016, about 13% of the world population suffered from obesity. Growing disease burden will positively impact demand for intragastric balloons, thereby driving industry growth during the forecast period.
Rising preference towards non-surgical and non-invasive procedures for treatment of obesity will drive the demand for intragastric balloon throughout the projected timeframe. Advantages associated with administration of intragastric balloon include no requirement for incisions. Complications associated with surgical procedures will lead to patient inclination towards intragastric balloon, thereby fostering market growth.
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Dual intragastric balloons market will show significant growth rate of 33.7% during the projected timeframe, owing to increasing prevalence of obesity. Other advantages associated with dual intragastric balloon include reduced risk of migration/obstruction and better comfort to patients. Such benefits over single intragastric balloon are expected to drive the dual intragastric balloon market growth in coming years.
Gas-filled intragastric balloons market accounted for market share of 36.0% in 2018. Gas-filled intragastric balloons help in reduction of about 7% of the total body eight within 6 months, thereby improving patient outcome. The quality of the balloon to enhance patient compliance at removal and avoidance in spontaneous deflations will boost market growth rate.
Clinics segment contributed to market revenue of USD 7.8 million in 2018. Growth is attributed to increased number of individuals seeking treatment at affordable costs for obesity in clinics. Increasing patient pool along with introduction of advanced intragastric balloon will render positive impact on business growth during the forecast timeframe.
France intragastric balloons market accounted for USD 3.1 million in 2018, owing to increasing demand for weight loss procedures. As per OECD, one out of ten people are obese and 40% are overweight in France. High demand for weight loss techniques due to increasing prevalence of obesity will promote business growth in the future.
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Australia intragastric balloon market accounted for revenue share of 23.3% in 2018 owing to rising cases of obesity. According to Australia & New Zealand Mental Health Association (ANZMH), more than 60% of the Australian population suffer from obesity. High pervasiveness of obesity is credited to adoption of sedentary lifestyle, thereby propelling industry growth.
Prominent industries involved in intragastric balloons market are Allurion Technologies, Obalon Therapeutics, Silimed, Districlass Medical, ReShape Medical, Lexel, Apollo Endosurgery, Medsil, Spatz and Helioscopie Medical Implants. These key industry players focus on strategies such as mergers, acquisitions and new product launch to strengthen market position. For instance, in October 2017, Spatz announced its partnership with HUMII clinics in Toronto, Canada for distribution of its flagship product Spatz3 adjustable gastric balloon. This partnership will enable company to expand its geographical outreach.
