Gastric Balloon Procedures Market Size, Competitive Landscape and Market Forecast - 2030

SKU: DMMD64 | Last Updated On: Jan 13 2023 | Available Formats

> Gastric Balloon Procedures Market Expected to reach a high CAGR of 9.70% during the forecast period 2023-2030: DataM Intelligence

Gastric Balloon Procedures Market  is segmented By Balloon Type (Orbera, ReShape, Spatz, Obalon), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

 

Market Overview

The global gastric balloon procedures market size was valued at US$ 49.45 million in 2023 and is estimated to reach US$ XX million by 2030, growing at a CAGR of 12.4% during the forecast period (2023-2030).

Gastric balloon procedures also called an endoscopic intragastric balloon, is the procedure of inserting 1 to 3 silicon balloons in the stomach of the patient for a few months so that they lose around 30% of excess weight, thereby improving the health condition of the patient.

 

Gastric Balloon Procedures Market Scope and Summary

Metrics

Details

Market CAGR

 12.4%

Segments Covered

By Product Type, By Procedure, By Filling, By Volume, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

 

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Gastric Balloon Procedures Market Dynamics

The major factors driving the global gastric balloon procedures market are the rising demand for gastric balloon procedures owing to increasing incidences of type-2diabetes which is mainly caused due to obesity, increasing consciousness on fitness and structure, growing obese population across the globe,, surging awareness initiatives, advancements in technologies leading to novel product launches.

The increasing consciousness on fitness and structure and growing obese population across the globe leading to the development of novel products are expected to drive the market’s growth.

The gastric balloon procedures market is driven by increasing consciousness on fitness and structure, rising advancements in technology, an increase in the geriatric population, a surge in research and development investments, an increasing number of type-2 diabetes cases which is mainly caused due to obesity and improvements in novel products using the latest technology along with improvements in medical infrastructure in emerging markets. 

Gastric balloon procedures are used widely for weight loss. The adoption of these devices is increasing, leading to rising government initiatives and funds. These funds will help produce gastric balloon products such as single, dual and triple gastric balloons. The market for these gastric balloons is increasing worldwide due to the enhanced number of people suffering from obesity. Moreover, the availability of technologically advanced products by key players is also expected to play a vital role in the market’s growth.

Various novel product launches, research studies, and rising awareness initiatives related to these gastric balloon procedures medications contribute to the market’s growth. in May 26, 2022, ReShape Lifesciences, a physician-led metabolic health and weight loss solutions company announced its agreement with OpenLoop, virtual care full-stack delivery services provider, to arrange a physician-led, nationwide, telehealth solution for virtual weight loss coaching.

Risks and safety concerns associated with the use of these gastric balloons are expected to hamper the market’s growth.

However strict rules and regulations for the approval of the silicone balloons utilized for procedure of gastric balloon placement is the major factor hindering the growth of the gastric balloon procedures market. High costs of these procedures is also a limiting factor.

The risks and safety concerns associated with the use of these gastric balloons or catheters are likely to hinder the growth. High risk related to these gastric balloons that are filled with either saline or gas can cause a blockage which requires surgery for the removal of device. Other risks are acute pancreatitis, over-inflation and ulcers in the stomach wall.

COVID-19 Impact Analysis on Gastric Balloon Procedures Market

The pandemic has negatively impacted global financial expectations, operations and crisis response strategy. The COVID-19 outbreak has severely impacted the healthcare industry. The gastric balloon procedures market has experienced huge losses due to COVID. Key manufacturers have started various research and clinical trials. Various initiatives, product launches, collaborations and mergers are happening worldwide, boosting the market’s growth. For instance, in October 31, 2022, ReShape Lifesciences, a physician-led metabolic health and weight loss solutions company announced that the International Federation for the Surgery of Obesity and Metabolic Disorders (IFSO) and the American Society for Metabolic and Bariatric Surgery (ASMBS) have issued novel guidelines that have been updated for Metabolic and Bariatric Surgery which include the Lap-Band.

Gastric Balloon Procedures Market Segment Analysis

The single gastric balloon segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)

The single gastric balloon segment is the highest market holder in the global gastric balloon procedures market. The global gastric balloon procedures market is segmented based on product type as single gastric balloon, dual gastric balloon and triple gastric balloon. The single gastric balloon segment is the largest market shareholder due to its increasing number of procedures utilizing single gastric ballons globally, increasing technological advancements and novel product launches.

Single gastric balloon is the most commonly used balloon for gastric balloon procedures which is easy to insert as this one time procedure where the doctor will place the catheter inside the stomach and then fill the balloon with either gas or saline water so the person may feel full after eating small amount of food. This balloon will then be removed after 6 months of placement. This whole procedure is done under direct supervision of endoscopy. The procedure involving single gastric balloon is easy to perform.

The growing number of regulatory approvals, technological advancements, product launches, and research/clinical trial studies drives the market’s growth. For instance, in November 21, 2022, Apollo Endosurgery, Inc., a minimally invasive medical devices provider for bariatric and gastrointestinal procedures, announced about its successful transition under the European Medical Device Regulation (MDR) of legacy products including for the BIB, OverStitch Systems and Orbera 365 intragastric balloons to CE Mark. The novel certificates were issued by British Standards Institute and are valid for five years.

Gastric Balloon Procedures Market Geographical Analysis

North America holds the largest market share in the global gastric balloon procedures market.

North America dominates the global gastric balloon procedures market primarily due to its large population, excellent medical infrastructure, and high-income levels. The market is expected to grow at a relatively moderate pace during the forecast period due to healthcare expenditure in the US. The market’s significant size is attributed to the high medical expenditure.

Increasing expenditure on healthcare and raising awareness among people is also contributing to the market’s growth in this region. Advancement of gastric balloon procedures such as endoscopic or non-endoscopic like swallowing for weight loss, increase in pharmaceutical establishment across the region and government approvals, and the presence of key players in the region are contributing to the growth of the gastric balloon procedures market.

Moreover, the growing number of product launches is responsible for the market’s growth. Many key developments, technological advancements, collaborations, and agreements are taking place in this region. For instance, in November 29, 2022, Apollo Endosurgery, Inc., a minimally invasive medical device provider company for bariatric and gastrointestinal procedures, announced about entering into an acquisition merger agreement with Boston Scientific Corporation, a medical technology provider company.

Gastric Balloon Procedures Market Competitive Landscape

The gastric balloon procedures market is moderately competitive with local and global companies’ presence. Apollo Endosurgery Inc., ReShape Lifesciences, Inc., LEXEL S.R.L., Medispar C.V.B.A, Allurion, Helioscopie Medical Implants, Districlass Médical, ENDALIS, Accel Medical, Silimed, Inc. and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in June 16, 2021, ReShape Lifesciences Inc., a weight-loss solutions provider announced its completion of the announced merger with Obalon Therapeutics. Obalon’s name is changed to ReShape Lifesciences Inc. and company's combined common stock will initiate trading under the ticker symbol "RSLS".

ReShape Lifesciences, Inc.

Overview: ReShape Lifesciences is a metabolic health and weight loss-solutions provider company, providing an integrated portfolio of products and services that treat and manage obesity and metabolic disorders.

Product Portfolio:

Obalon Balloon System: It is the first and only gas-filled, swallowable, FDA-approved balloon system specially developed for weight-loss.

The global gastric balloon procedures market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.

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