by The intragastric balloon is a non-surgical weight loss procedure used to treat obese and overweight patients. Intragastric balloons are inserted into the stomach via the esophagus to reduce appetite and promote a feeling of fullness. Their temporary use allows patients to lose significant weight in a relatively short period of time. The global Intragastric Balloon Market is estimated to be valued at US$ 429.24 Mn in 2024 and is expected to exhibit a CAGR of 11. % over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising obesity rates across major economies has been a key driver for the growth of the intragastric balloon market. According to the World Health Organization (WHO), globally over 13% of adults aged 18 years and older were obese in 2016.Obesity increases the risks of chronic health conditions such as heart disease, diabetes and certain cancers. The temporary and non-surgical nature of intragastric balloons has increased their adoption rate as they help obese patients lose significant weight within a short period of 6 months reducing their risk of developing obesity-related diseases. The growing awareness about health issues due to obesity and benefits of intragastric balloons in weight management will continue to boost the demand over the forecast period.
SWOT Analysis
Strength: The intragastric balloon market is growing at a rapid pace due to rising obesity prevalence globally. The intragastric balloon procedure is a minimally invasive technique to reduce weight with minimal risks and complications.
Weakness: Expensive cost and requirement of endoscopy for balloon insertion and removal are major limitations of intragastric balloons. Patients also experience nausea, vomiting, acid reflux, abdominal pain and discomfort after balloon placement.
Opportunity: Increasing research to develop innovative balloons that stay longer in stomach with improved safety. Growing healthcare expenditure in emerging economies will boost intragastric balloon adoption.
Threats: Alternative bariatric surgical procedures like gastric bypass and lap band are major threats. Patients may opt for these if intragastric balloons fail to provide desired weight loss results.
Key Takeaways
The Global Intragastric Balloon Market Demand is expected to witness high growth at a CAGR of 11% during the forecast period of 2024 to 2031. The market was valued at US$ 429.24 Mn in 2024 and is anticipated to reach over US$ 1 Bn by 2031.
Regional analysis: North America dominates the intragastric balloon market currently due to growing obesity rates and supportive reimbursement policies for weight loss procedures in the region. The Asia Pacific region is expected to witness fastest growth over coming years supported by increasing medical tourism and rising healthcare expenditure in developing countries like India and China.
Key players: Key players operating in the intragastric balloon market are Gogo Inc., EchoStar Corporation, Global Eagle Entertainment Inc., Kymeta Corporation, ViaSat Inc., Thinkom Solutions Inc., Thales Group, Honeywell International Inc., SITA, and Panasonic Corporation. These companies are engaged in new product launches and strategic collaborations to penetrate untapped markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
