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The global intragastric balloon market size is expected to reach USD 90.5 million by 2027, expanding at a CAGR of 12.1% over the forecast period, according to a new report by Grand View Research, Inc. Rise in obesity and increasing demand for minimally invasive procedures are the key factors driving the market.
Intragastric balloons are one of the most widely adopted endoscopic bariatric therapy devices in the clinical settings. This can be attributed to complications associated with surgical weight loss treatments and the low eligibility criteria for surgical options, thus leading to a rise in demand for effective minimally invasive weight-loss treatment options.
Safety concerns associated with intragastric balloons are anticipated to make the regulatory framework more stringent for pre-market and post-market scrutiny process of these devices. For instance, in 2019, Apollo Endosurgery Inc. revised the labeling of its Orbera intragastric balloon system to include contradiction clarifications, precautions related to anticholinergic and psychotropic medications, and updated U.S. adverse event tables after it received FDA safety letter.
Nonetheless, extensive research activities related to the development of innovative and novel systems and up-gradation of existing intragastric balloons to overcome the shortcomings of the traditional systems are anticipated to facilitate the intragastric balloon market growth.
Further Key findings from the study suggest:
- According to the American Society for Metabolic and Bariatric Surgery (ASMBS) data, nearly 5,000 intragastric balloon implantations have been conducted since the U.S. FDA approval
- The single balloon type segment held the largest share in the market in 2019. The triple type is expected to witness significant growth over the forecast period
- By filling material, gas-filled systems are anticipated to witness lucrative growth over the forecast period
- Based on end use, hospitals held a significant share in 2019. Ambulatory surgical centers are expected to witness considerable growth from 2020 - 2027
- On the basis of administration, endoscopy held the dominant market share in 2019. Pill form is expected to witness lucrative growth over the forecast period
- North America dominated the intragastric balloon market in 2019 due to the presence of a large obese population and high adoption of bariatric procedures. Asia Pacific is expected to witness remunerative growth over the forecast period
- Some of the key companies operating in the market are Apollo Endosurgery, Inc.; Obalon Therapeutics, Inc; ReShape Medical, Inc; Allurion Technologies, Inc.; Spatz3; Helioscopie; Endalis; MEDSIL; and Lexel Medical
- As of January 2019, Apollo Endosurgery, Inc. has discontinued the sales and distribution of its ReShape Balloon.