“The Gastric Balloon System Market was Valued Around 161.3 Bn in 2018 and is Expected to Reach 252.2 Bn by 2023 with a growing CAGR of 9.63% from 2018 to 2023”
Precision Business Insights (PBI) in its report titled “Global Gastric Balloon System Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023” assesses the market performance over eight years forecast period over 2018-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
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A study on global gastric balloon system market with a growing CAGR of 9.63%
- The global gastric balloon system market is segmented on the basis of product, filling material, route of administration and end-users
- The report covers in-detail insights about the competitor’s overview, key findings and their key strategies
Gastric balloon system is an innovative non-surgical weight loss procedure in which physicians temporarily places the gastric balloon in the stomach. Gastric balloon system will be placed in the stomach using endoscopy through esophagus and some of the products are in swallowable capsule form. Gastric balloon system is used for patients only when diet and exercise have failed in reducing weight and surgery is not wanted or recommended to the patient.
Increase in the awareness about the consequences related to obesity and chances of getting the other chronic diseases, advances in gastric balloon technology led to safer and cost-effective procedure over the surgical procedures. Along with this, short hospital stay, reducing recovery time, expected to prompt healthcare professionals to choose the gastric balloon systems over other bariatric procedures. However, the adverse events associated with gastric balloon systems such as inflation of balloon, pain, swelling, vomiting, and chances of getting acute pancreatitis are becoming as restrains for gastric balloon system market.
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The gastric balloon system market is divided into following categories-
- Single Intra Gastric Balloon
- Double Intra Gastric Balloon
- Triple Intra Gastric Balloon
- Filling material
- Saline Filling
- Gas Filling
- Route of administration
- Bariatric Clinics
- Ambulatory Surgical Centers
Geographically market has been segmented into following regions- North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Among all the regions North America accounts larger share due to more number of obese patients.
In Europe increase in prevalence of the obesity and rising demand for weight loss products driving the market revenue growth.
Gastric balloon system market in Latin America is growing at significant CAGR due to the rapid increase in healthcare expenditure and increase in the number of doctors.
In Asia-Pacific region because of rising in the medical tourism, lower cost of healthcare, and rise in the development of healthcare infrastructure in developing countries like India projects the better growth opportunity for gastric balloon system market players.
Some of the key players in the global gastric balloon system market are Allurion Technologies (U.S.), Silimed Inc. (Brazil), Obalon Therapeutics Inc. (U.S.), Districlass Medical (S.A.) (France), and ReShape Medical Inc. (U.S.) to name a few.
Some of the market development include S. FDA approved Obalon Therapeutics Inc.’s obalon balloon system for marketing in 2016, this can be swallowed or available in capsule form.
Gastric balloon system is in the growth phase, fluid-filled gastric balloon products are having prevalent adverse events when compared to the gas-filled products. Due to the advancements in technology like a development of swallowable capsules forms by Obalon technologies (obalon) and Allurion (elipse), and reducing the risks in using gastric balloon system are increasing the acceptance of gastric balloon system products by patients. These factors are expected to bolster revenue growth in gastric balloon system market.
Key Questions Answered
- What is the current and future gastric balloon system market outlook worldwide? What trends are affecting the global market?
- What is the competitive landscape and market share of major players in the gastric balloon system globally?
- What are the key, high growth markets that gastric balloon system manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the gastric balloon system currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of gastric balloon system?
- What are the challenges and barriers that have hindered widespread adoption of gastric balloon system?
Reasons to buy gastric balloon system market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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