Market Trends of Intragastric Balloon Industry
Single Intragastric Balloon Segment is Expected to Witness Significant Growth Over the Forecast Period
- Single intragastric balloons are estimated to witness healthy growth in the future, which is attributed to increasing awareness, rising demand for minimally invasive procedures, availability of many products in the market, and scientific proof for their safety and efficacy. For instance, as per the National Institute of Health (NIH) report published in 2021, the Orbera intragastric balloon, a type of single fluid-filled intragastric balloon, is safe and effective for reducing obesity-related comorbidities in a real-world population and weight loss population. Thus, such advantages are anticipated to propel the segment growth over the forecast period.
- The increasing number of obese patients with several technological advancements for better outcomes and developments in the intragastric balloon will promote segment growth in the future. Factors, such as the rising intake of junk foods/fast foods, are resulting in a declining healthy population worldwide, leading to an increase in the prevalence of obesity, especially in some developed parts of the world.
- For instance, as per the report published by the Trust for America's Health Organization in 2021, the United States adult obesity rate represents more than 42.4%, and it is the first time the national rate has passed the 40.0% mark. The national adult obesity rate has increased by 26.0% since previous years.
- Similarly, according to the report published by the State Obesity in 2022, black adults have the highest rate of obesity in the United States, which is 49.9% compared to 45.6% of Hispanic adults, 41.4% of white adults, and 16.1% of Asian adults. Thus, increasing cases of obesity across the globe are anticipated to propel the demand for single intragastric balloons, thereby surging the segment growth over the forecast period.
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North America is Expected to Witness Considerable Growth Over the Forecast Period
- North America is expected to hold a significant market share in the global intragastric balloon market due to the increasing obese population and high adoption of weight loss treatments. For instance, as per the data provided by the Organization for Economic Co-operation and Development (OECD), in 2021, more than 38.2% of the United States population was obese, which is the highest in the world.
- Similarly, according to the data published by the OECD, in Canada, more than 59.1% of the population aged 15 years or more were obese, whereas, in Mexico, more than 75.2% of the population aged 15 years or more was obese in 2021. Therefore, such a high number of obese population in the region is anticipated to propel the demand for the intragastric balloon, thereby surging the market growth in the region.
- Key product launches, high concentration of market players or manufacturer's presence, and acquisition & partnerships among major players, favorable initiatives, and rising adoption of minimally invasive treatments in the United States are some of the factors driving the growth of the intragastric balloon market in the country.
- For instance, according to the National Center for Biotechnology Information (NCBI) research article published in April 2022, the United States healthcare system is moving toward value-based care, and hospitals are shifting toward minimally invasive treatment. The article also stated that minimally invasive treatments offer shorter lengths of stay compared to the open approach, owing to the high demand for minimally invasive procedures in the country.
- Furthermore, in March 2023, the healthcare provider, Pristyn Care, partnered with Allurion Technologies to offer a comprehensive platform for weight loss and obesity care. The program represents the world's first swallowable gastric balloon that does not require surgery, endoscopy, or anesthesia. The program aims to help patients lose an average of 10 to 15% of their body weight during 16 weeks of treatment. Thus, owing to the increasing adoption of minimally invasive treatments and favorable initiatives, considerable market growth is expected in the country.
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