Intragastric Balloon Market Size to Surpass USD 108.80 Mn by 2033

Prathamesh

1 month ago

The global intragastric balloon market size surpassed USD 45 million in 2023 and is predicted to be worth around USD 108.80 million by 2033, expanding at a CAGR of 9.22% from 2024 to 2033.

Key Points

By region, North America held the largest share of the intragastric balloon market in 2023 with 38.4%.
By region, Asia Pacific is expected to witness significant growth during the forecast period.
By balloon type, in 2023, the single segment held the largest share of 66%.
By filling material, the saline filled segment held the dominant share of around 73% in 2023.
By administration, the endoscopy segment held the largest share of over 72.3% in 2023.
By end use, the hospitals segment has accounted market share of around 55% in 2023.

Intragastric Balloon Market Size 2024 to 2033

The Intragastric Balloon Market has witnessed significant growth in recent years, driven by rising obesity rates globally and an increasing emphasis on minimally invasive weight loss procedures. Intragastric balloons are non-surgical devices placed in the stomach to induce weight loss by creating a feeling of fullness, thereby reducing food intake. The market encompasses various types of intragastric balloons, including saline-filled balloons, gas-filled balloons, and dual-balloon systems. These devices offer a temporary solution for weight loss, typically remaining in the stomach for six months to one year, depending on the type.

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Growth Factors:

Several factors contribute to the growth of the intragastric balloon market. One of the primary drivers is the growing prevalence of obesity worldwide. With changing lifestyles, sedentary habits, and unhealthy dietary patterns, obesity rates have soared, leading to an increased demand for effective weight loss solutions. Intragastric balloons offer a less invasive alternative to bariatric surgery, attracting individuals seeking to lose weight without undergoing major surgical procedures. Additionally, advancements in balloon technology, such as the development of durable and biocompatible materials, have enhanced the safety and efficacy of intragastric balloon placement, further fueling market growth.

Regional Insights:

The market for intragastric balloons is geographically diverse, with North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa emerging as key regions. North America dominates the market, driven by a high prevalence of obesity and a well-established healthcare infrastructure supporting the adoption of novel weight loss interventions. Europe follows closely, with increasing awareness about obesity-related health risks and a growing trend towards minimally invasive procedures. The Asia Pacific region exhibits substantial growth potential, attributed to rising disposable incomes, changing dietary habits, and a surge in obesity rates in countries like China and India.

Intragastric Balloon Market Scope

Report Coverage	Details
Growth Rate from 2024 to 2033	CAGR of 9.22%
Global Market Size in 2023	USD 45 Million
Global Market Size in 2024	USD 49.15 Million
Global Market Size by 2033	USD 108.8 Million
Largest Market	North America
Base Year	2023
Forecast Period	2024 to 2033
Segments Covered	By Balloon Type, By Filling Material, By Administration, and By End-use
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Intragastric Balloon Market Dynamics

Drivers:

Several drivers propel the growth of the intragastric balloon market. One significant driver is the increasing acceptance of minimally invasive procedures among both patients and healthcare providers. Compared to traditional bariatric surgery, intragastric balloon placement involves less risk, shorter recovery times, and lower healthcare costs, making it an attractive option for weight loss. Additionally, the expanding pool of obese individuals globally, coupled with the rising awareness about the health consequences of obesity, stimulates demand for effective weight management solutions like intragastric balloons.

Opportunities:

The intragastric balloon market presents numerous opportunities for growth and innovation. Continued research and development efforts aimed at improving the safety, efficacy, and durability of intragastric balloons can open new avenues for market expansion. Moreover, collaborations between healthcare providers, device manufacturers, and regulatory agencies can streamline the approval process for intragastric balloon devices, facilitating their widespread adoption. Furthermore, expanding market reach into untapped regions and demographics through targeted marketing strategies and educational campaigns can unlock significant growth opportunities for market players.

Challenges:

Despite the promising growth prospects, the intragastric balloon market faces several challenges. One of the primary challenges is the risk of complications associated with balloon placement, such as gastric ulceration, migration, and bowel obstruction. Addressing these safety concerns requires ongoing research and development efforts to enhance device design and implantation techniques. Additionally, reimbursement limitations and regulatory hurdles in certain regions may hinder market growth by limiting patient access to intragastric balloon procedures. Moreover, competition from alternative weight loss interventions, including pharmacotherapy and surgical options, poses a challenge to market penetration and adoption.

Recent Developments

In September 2022, Allurion Technologies, the United States-based medical device manufacturer, launched its weight loss solution, a swallowable gastric balloon, in India.