According to the latest report published by Credence Research, Inc. “Intragastric Balloons Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global intragastric balloons market was valued at US$ 120 Mn in 2015, and is expected to reach US$ 248 Mn by 2025, expanding at a CAGR of 7.6% from 2017 to 2025.
Browse the full report Intragastric Balloons Market – Growth, Future Prospects and Competitive Analysis, 2017–2025 report at https://goo.gl/M7TZ8N
Intragastric balloons are devices made with biocompatible silicon and is placed inside the stomach for capacity reduction. . Compressed balloons are placed in the stomach through a non-invasive endoscopic procedure which is filled with saline due to which the patient feels fuller sooner and longer and makes less room for food. These balloons can be withdrawn once they are no longer required due to the risk of rupture after 6 to 7 months.
In 2015, according to the OECD data, 19.5% of the adult population was obese. For adults, WHO defines that obesity is a body mass index (BMI) greater than or equal to 30 and most of such population is from emerging countries. This phenomenon can boost the demand for obesity treatments. With advancement in technology and availability of better treatments for obesity, and speedy increase in obese and overweight population, the demand for safer and temporary treatment solutions such as non-invasive endoscopic intragastric balloons treatment is set to grow. Upward trend in the growth rate of the overweight and obese population in adults and children reveals the powerful influence on the market. Moreover, advancement in technology, and regulatory aspects of the market are further enhancing the intragastric balloons market. In 2011-2014, according to the CDC data, the prevalence of obesity was 36% among U.S. adults and 17% in youth. Growing incidence rate of obesity among adults and young age is one of the main factor boosting the market growth.
On the basis of application areas, the global market of intragastric balloons is segmented into single balloons, double balloons, and triple balloons. Advancement in technology and growing incidence of obesity in adults, better patience consciousness and increase in disposable income in the emerging countries would further boost the acceptance of intragastric balloons.
Geographically, the global intragastric balloons market is studied for North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America currently leads the global market in terms of revenue share and it is expected that the region will retain its dominance during the forecast period. However, the dominance of North America will be prominently challenged by Europe and Asia Pacific market. The demand for advanced treatment for obesity has exponentially increased in Asia Pacific due to growth in healthcare expenditure, disposable income and rapid proliferation of healthcare infrastructure. Furthermore, countries such as Brazil, Mexico, China, and India will open additional opportunities for market penetration to key companies already having a stronghold in developed regions.