Wilmington, Delaware, United States, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global intragastric balloons market is estimated to flourish at a CAGR of 12.2% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for intragastric balloons is estimated to reach US$ 160.7 million by the end of 2031. The rise in medical tourism, especially in emerging economies, has significantly contributed to the market's growth. Patients seeking cost-effective weight loss solutions are opting for intragastric balloons abroad, fostering market expansion.
The aging global population is showing an increasing inclination towards non-invasive weight loss options. Intragastric balloons cater to this demographic by providing a safer alternative, considering the unique health challenges faced by older individuals. The expansion of insurance coverage for intragastric balloon procedures in certain regions is a noteworthy driver. As insurers recognize the long-term benefits and cost-effectiveness of these interventions, more patients gain access to the treatment.
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Intragastric balloons are utilized as post-bariatric surgery support tools. They aid in weight maintenance and address complications, serving as a complementary approach to ensure sustained weight loss success. Beyond general technological advancements, breakthroughs in biocompatible materials used in intragastric balloons are emerging. Enhanced safety profiles and reduced side effects contribute to increased patient confidence and adoption.
Key Findings of the Market Report
- <6 Months duration segment leads the intragastric balloons market, reflecting a preference for shorter-term interventions in weight management.
- Fluid-filled balloons dominate the intragastric balloons market, offering effective weight management solutions with enhanced adjustability and patient comfort.
- Swallowable administration dominates the intragastric balloons market, offering a non-invasive approach that aligns with evolving patient preferences and healthcare trends.
Intragastric Balloons Market Growth Drivers & Trends
- Increasing global obesity prevalence fuels demand for non-surgical weight loss solutions like intragastric balloons.
- Continuous innovations in balloon technology enhance safety, efficacy, and patient experience, driving market growth.
- Growing preference for non-invasive procedures boosts the adoption of intragastric balloons as an effective and safer weight loss alternative.
- Collaborations between key market players and healthcare providers drive market expansion, fostering product development and distribution channels.
- Shifting consumer lifestyles and a focus on preventive healthcare contribute to the upward trajectory of the intragastric balloons market as a proactive weight management solution.
Global Intragastric Balloons Market: Regional Profile
- North America leads the forefront, fueled by a high prevalence of obesity and a robust healthcare infrastructure. The presence of key players like Spatz FGIA, Inc. and Allurion S.a.s. fortifies the market's growth trajectory, while stringent regulatory frameworks shape product approvals.
- In Europe, increasing awareness of non-surgical weight loss interventions propels market expansion. Innovative offerings from companies like ENDALIS contribute to the region's dynamic landscape.
- The Asia Pacific, with its burgeoning population and rising health consciousness, presents a lucrative frontier. Growing disposable incomes and evolving healthcare preferences drive demand, fostering partnerships and market entry strategies.
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Intragastric Balloons Market: Competitive Landscape
The intragastric balloons market is fiercely competitive, driven by key players continually innovating to address the rising global obesity epidemic. Industry giants like Spatz FGIA, Inc. and Allurion S.a.s. dominate with their adjustable and swallowable balloon systems, respectively.
Smaller entrants like ENDALIS contribute to the landscape with unique offerings in medical aesthetics. Advancements in technology, coupled with a growing demand for minimally invasive weight loss solutions, intensify competition.
Regulatory approvals and strategic partnerships are pivotal, influencing market dynamics. As the quest for effective, patient-friendly intragastric solutions intensifies, the competitive landscape remains dynamic, fostering innovation and improved patient outcomes. Some prominent manufacturers are as follows:
- Apollo Endosurgery Inc.
- ReShape Lifesciences Inc.
- Spatz FGIA Inc.
- Allurion S.a.s.
- ENDALIS
- Helioscopie
- LEXEL S.R.L.
- CSC MEDSIL
Product Portfolio
- Spatz FGIA Inc. pioneers gastric intervention solutions with its innovative adjustable gastric balloon system. Committed to transformative weight management, Spatz offers a customizable, non-surgical approach, empowering individuals to achieve sustainable lifestyle changes.
- Allurion S.a.s. revolutionizes weight loss with its Elipse gastric balloon system. Delivering a non-invasive, swallowable solution, Allurion empowers individuals globally to embark on a transformative weight loss journey, fostering health and well-being.
- ENDALIS is a trailblazer in medical aesthetics, offering cutting-edge solutions for skin rejuvenation and anti-aging. Their advanced technologies and clinically proven products cater to diverse skincare needs, ensuring clients experience unparalleled results and radiant, youthful skin.
Intragastric Balloons Market: Key Segments
By Duration
- <6 Months
- 6 Months
- >6 Months
By Type
- Fluid-filled Balloons
- Gas-filled Balloons
By Administration
- Endoscopy
- Swallowable
By End User
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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