The 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:
An intragastric balloon is a nonsurgical implantable weight loss procedure that involves swallowing a saline or gas-filled balloon that sits in the stomach, taking up space. This allows individuals to feel fullness with less food thereby promoting weight loss. The procedure has a shorter recovery time compared to bariatric surgeries and allows patients to avoid surgical complications and risks.

Market key trends:
One of the key trends driving the Intragastric Balloon Market growth is the rising prevalence of obesity across the globe. According to WHO, in 2020, about 650 million adults and 340 million children and adolescents were obese. Obesity is associated with risk of several non-communicable diseases such as cardiovascular diseases, diabetes, musculoskeletal disorders, and some cancers. Thus, initiatives such as incorporation of intragastric balloons as an effective weight loss option by several public and private organizations are increasing. This is expecting to boost the adoption of intragastric balloons during the forecast period.

Porter’s Analysis
Threat of new entrants: The requirements for large investments in R&D and manufacturing puts barriers for new companies.
Bargaining power of buyers: The buyers have moderate bargaining power due to availability of substitutes and negotiating on price.
Bargaining power of suppliers: The suppliers have low to moderate bargaining power due to availability of substitutes and existence of large players.
Threat of new substitutes: Substitutes like bariatric surgeries, weight loss belts pose threat to intragastric balloons.
Competitive rivalry: High due to presence of large multinational players.

SWOT Analysis

Strength: Non-invasive nature and rising obesity prevalence. Reversible and temporary weight loss solution.
Weakness: Require repeated procedures. Risks of bowel obstruction and acid reflux. High cost.
Opportunity: Growing obese and overweight population globally. Rising awareness about weight management.
Threats: Safety issues and risks associated. New substitute technologies for weight loss.

Key Takeaways

The global intragastric balloon market is expected to witness high growth, exhibiting CAGR of 9.6% over the forecast period, due to increasing obesity prevalence worldwide. Obesity has become a major health issue, affecting people of all age groups. According to WHO, in 2016, around 13% of adults aged 18 years and older were obese.

Regionally, North America dominated the global market and is expected to retain its dominance over the forecast period. This is attributed to growing obese population, rising health awareness, and availability of technologically advanced products in the region. However, Asia Pacific is anticipated to exhibit the fastest CAGR during the analysis period. This is owed to growing medical tourism industry in the region coupled with rising obesity in countries like China and India.

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, and Medsil. Major players are focused on new product launches, geographical expansion and collaborations to gain significant market share.

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