Pune, India, April 08, 2021 (GLOBE NEWSWIRE) --
The global intragastric balloons market size is poised to witness a lucrative growth rate during the forecast period, given the rising prevalence of obesity, the demand for advanced non-surgical treatments across various economies worldwide has propelled the need for intragastric balloons as these offer umpteen advantages including reduced hospital stays, absence of blood loss, and no surgery. Moreover, the economical price of intragastric balloons has as well fueled the demand for these treatments, which has transformed the growth spectrum of global intragastric balloons industry.
Besides, the increasing healthcare expenditures is also likely to bolster the demand for low-cost treatment options. Some of the fundamental regional trends that are anticipated to transform the overall market outlook have been outlined below:
Mounting cases of obesity in North America
When considering the prevalence of obesity in the region, it would be essential to mention that according to the National Institute of Health, obesity and overweight is deemed to be the second leading cause of preventable deaths in the United States. This can be reasoned to the expanding adoption of unhealthy dietary habits and sedentary lifestyle.
These factors have apparently called in for the demand of non-surgical procedures for treating obesity, paving way for the growing adoption of intragastric balloons in the region. In fact, it has been reported that the U.S is expected to observe notable gains of 18% through 2026 across the North America intragastric balloons market. Reports have estimated that the North America market is all set to register a CAGR of 17.6% over the forecast time frame.
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Use of dual intragastric balloons in America
This can be ascribed to the rising significance of dual intragastric balloons in the region. These balloons have been gaining immense traction in the North American economies owing to the fact that they promote faster weight loss in limited timeframe due to the presence of two, connected balloons. As a matter of fact, dual intragastric balloons segment across the regional market is poised to exhibit a growth rate of 37%.
The North America intragastric balloons market is highly concentrated and boasts of the presence of some of the prominent industry leaders including Apollo Endosurgery, Allurion Technologies, Obalon Therapeutics, Districlass Medical, and Reshape Lifesciences. These companies are undertaking vivid strategies like mergers, acquisitions, and product diversifications to gain a competitive edge.
For instance, Spatz had in October 2017, announced establishing its partnership with HUMII clinics in Canada for commercialization and supply of its flagship product Spatz adjustable gastric balloon. This alliance is expected to expand the company’s geographical outreach.
Vulnerability of metabolic diseases in the Asian population
The Asia Pacific intragastric balloon market is poised to record an annual remuneration of USD 13 million by the end of 2026, given the rising prevalence of obesity and higher susceptibility of metabolic diseases in the Asian countries. As per the Asian Development Bank Institute, the region depicts some of the highest rates of obesity. Furthermore, the increasingly sedentary lifestyle aligned with the increased consumption of junk food has further driven the rates of obesity in the Asian economies.
Considering the product segment, dual balloon segment across Asia Pacific market is expected to register gains of 33% through 2026, primarily due to the merits offered by these such as faster and efficient weight loss and increased patient comfort.
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Increasing number of hospitals across Asia
The intragastric balloon procedures are being largely conducted across the hospitals in the region, given the availability of skilled caregivers and presence of quality of post-procedure care. Experts have suggested that the hospital segment is touted to account for a fair share of 17.9% of the APAC market in the years to come.
Regionally, Asia Pacific intragastric balloons market is classified into vivid economies of which, the growth is likely to come from China. It has been claimed that the Chinese market would record a CAGR of 21% over 2020 to 2026, as the expanding rate of obesity is producing a spurt for these products and procedures. In line with this, the low cost of procedure and presence of skilled healthcare experts is also estimated to drive the medical tourism in the country.
Preference for non-surgical treatments in Europe
As per the Organization for Economic Co-operation and Development statistics, nearly 35% of the population in the United Kingdom were obese during 2017. This count has enabled people to emphasize on the adoption of non-surgical treatment procedure, including intragastric balloons.
Apart from the United Kingdom, France is also likely to amass major gains from European intragastric balloon market. This can be attributed to the increasing number of bariatric procedures, and high obesity rates. That said, France held a major share of 30% of the overall Europe industry.
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Europe sees higher demand for gas-filled intragastric balloons
Based on the filling material for intragastric balloons, it has been observed that the gas-filled balloon segment has acquired a major stake of 36% in 2016 and is looking forward to generating massive returns in the upcoming years. What has been prompting the demand for this material is the crucial advantages associated with it including gastric acid and bacteria resistance, and light weight. Intragastric balloons enhance the patient compliance during removal and are generally resistant to spontaneous deflation.
People have been laying high preference towards undertaking bariatric procedures in hospitals which has also generated the demand for intragastric balloons in Europe. In fact, the industry share in Europe from hospitals segment is projected to depict a growth rate of 19% during 2020 to 2026, due to the rising number of patient pool asking for obesity treatment in the healthcare settings.
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