Gastric Balloon Market Growing Trends in Industry, Gross Margin and Forecast size 2027
The Gastric Balloon market was valued at US$ 67.3 million in 2018 and it is projected to reach US$ 152.1 million by 2027; it is expected to grow at a CAGR of 9.7% from 2019 to 2027.
Gastric balloons are being preferred for weight loss during recent days. Unlike other procedures for weight loss, the gastric balloons are non-invasive methods for managing weight loss. The gastric balloon is placed through the mouth and is pushed down the esophagus, while it is in its least dilated form. Once the balloon reaches the stomach, it is filled with the saline or gas with the help of a tube, which is removed out once the balloon has been placed. These balloons are inserted in the stomach for around 6 months in order to obtain proper weight loss. The growth of the Gastric Balloon in healthcare market is attributed to the rising preference for minimally invasive methods for weight loss are the key driving factors for the growth of the market in the forecast period. However, the growth of the market is restrained by factors such as, lack of reimbursement and the side effects or complications caused due to the use of gastric balloons.
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Key Findings from The Gastric Balloon Market
- In terms of product, the Gastric Balloon in healthcare market is segmented into single gastric balloons, dual gastric balloons and triple gastric balloons. In 2018, the single gastric balloon segment held a largest market share of 89.0% of the gastric balloon market, by product.
- Based on filling material, the Gastric Balloon in healthcare market is segmented into saline filled and gas filled. In 2018, the saline filled segment held a largest market share of 91.5% of the gastric balloon market, by filling material.
- In terms of end user, the Gastric Balloon in healthcare market is segmented into bariatric surgeons, gastrointestinal endoscopists, nutritionists, aesthetic practitioners, and other end users. In 2018, the bariatric surgeons segment held a largest market share of 47.4% of the gastric balloons market, by end user.
- The major players operating in the gastric balloon market include, Apollo Endosurgery, Inc., Allurion Technologies ENDALIS, Helioscopie Medical Implants, LEXEL SRL, MEDSIL, Obalon Therapeutics, Inc., ReShape Lifesciences, Inc., Silimed, and Spatz FGIA, Inc., among others. Approvals the are prominent parameters by industry players leading strategies undertaken by key market players. For instance, during December, 2018, Obalon received FDA approval of the Obalon Navigation System, which eliminates the need to use x-ray when placing the Obalon Balloon System. The Obalon Navigation System and Touch Inflation Dispenser are expected to be commercially available during the first quarter of 2019 in the United States.
Growing Applications of Gastric Balloon in Healthcare to Drive Gastric Balloon in Healthcare Market Growth
Obesity rates have been increasing rapidly across the globe at a rapid rate. Overweight and obesity are defined as abnormal or excessive fat accumulation that presents a risk to health. Obesity is a medical condition in which excess body fat has been accumulated in the body and can be a leading factor for various other medical conditions. People are generally considered obese when their body mass index (BMI) is above 30 kg/m2. Factors such as, excessive food intake, lack of physical activity, and genetic susceptibility are considered to be the major contributors towards the rise in cases of obesity. A few cases are caused due to genes, endocrine disorders, medications, or mental disorder.
Obesity has been spreading at an epidemic rate during the recent years, specifically in the urban areas of the developed nations. As per estimates made by the WHO, during 2016, more than 1.9 billion adults, aged 18 years and older, were overweight. Of these over 650 million were obse. Also, an estimated 41 million children under the age of 5 years were overweight or obese. The prevalence of overweight and obesity among children and adolescents aged 5-19 has witnessed a dramatic from a minimal 4% in 1975 to above 18% in 2016. At present, obesity rates are significantly high in the United States, Mexico, New Zealand and Hungary, while they are lowest in Japan and Korea. Whereas, during the future years, obesity rates in countries such as Korea and Switzerland are anticipated to increase at the fastest rate.
Minimally invasive surgeries are being performed widely during the recent years. There has been a rise in the number of people opting for minimally invasive surgeries. Unlike traditional surgical procedures, a minimally invasive surgery requires only a small incision to be made. Since these incisions are tiny, the patient recovers at a faster rate comparatively, with less discomfort. Some of the benefits of a minimally invasive surgery include, few small cuts, less trauma to the muscles, nerves and tissues, less bleeding & scarring, less trauma to organs, less pain and reduced use of narcotics, less hospital time, and less effect on the immune system.
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