Gastric Balloon Market Size Share, Demand, Trend, Latest Innovations & Application Analysis and Industry Growth Forecast 2027

(The Express Wire via Comtex)

Gastric Balloon Market by filling material is segmented into saline filled and gas filled. The saline filled segment is anticipated to grow at a CAGR of 9.9% during the forecast period. The reduced risk of complications along with better retention in the stomach is anticipated to fuel the growth of the segment during the forecast period.

According to a new market research study titled 'Gastric Balloon Market to 2027 - Global Analysis and Forecasts by Product, Filling Material and End User. The global gastric balloon market is expected to reach US$ 152.1 Mn in 2027 from US$ 67.3 Mn in 2018. The market is estimated to grow with a CAGR of 9.7% from 2019-2027. The report highlights the trends prevalent in the global gastric balloon market and the factors driving the market along with those that act as deterrents to its growth.

The market for gastric balloon is expected to grow due to rising cases of obesity as well as increasing preference for minimally invasive surgical method. In addition, growth of the market in emerging nations is likely to have a positive impact on the growth of the market in the coming years.

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The major players operating in the gastric balloon market include, Apollo Endosurgery, Inc., Allurion Technologies ENDALIS, Helioscopie Medical Implants, LEXEL SRL, MEDSIL, Obalon Therapeutics, Inc., ReShape Lifesciences, Inc., Silimed, and Spatz FGIA, Inc., among others. Approvals the are prominent parameters by industry players leading strategies undertaken by key market players. For instance, during December, 2018, Obalon received FDA approval of the Obalon Navigation System, which eliminates the need to use x-ray when placing the Obalon Balloon System. The Obalon Navigation System and Touch Inflation Dispenser are expected to be commercially available during the first quarter of 2019 in the United States.

The gastric balloon market by end user is segmented into hospitals, nursing homes and others. Others sub-segment includes bariatric surgeons, gastrointestinal endoscopists, nutritionists and aesthetic practitioners, and other end users. The bariatric surgeons segment held the largest in 2018, by end user. However, the segment of gastrointestinal endoscopists is expected to increase at a significant growth rate of 10.0% during the forecast period.

Asia-Pacific was the leading geographic Gastric Balloon Market and it is anticipated to be the highest revenue contributor throughout the forecast period. Asia is well known across the world for the dynamic market nature and robust growth capabilities. The region has a large obese population base in its leading countries such as, China and Japan. Also, there has been rising preference for bariatric surgeries for better weight loss.

Obesity has been spreading at an epidemic rate during the recent years, specifically in the urban areas of the developed nations. As per estimates made by the WHO, during 2016, more than 1.9 billion adults, aged 18 years and older, were overweight. Of these over 650 million were obse. Also, an estimated 41 million children under the age of 5 years were overweight or obese. The prevalence of overweight and obesity among children and adolescents aged 5-19 has witnessed a dramatic from a minimal 4% in 1975 to above 18% in 2016. At present, obesity rates are significantly high in the United States, Mexico, New Zealand and Hungary, while they are lowest in Japan and Korea. Whereas, during the future years, obesity rates in countries such as Korea and Switzerland are anticipated to increase at the fastest rate.

The global gastric balloon market by product was led by single gastric balloon segment. The single gastric balloons, is further sub-segmented into, Elipse gastric balloons, Orbera gastric balloons and other single gastric balloons. In 2018, the single gastric balloon segment held a largest market share of 89.0% of the gastric balloon market, by product. This segment is also expected to dominate the market in 2027 owing to its property of being implanted more easily as decreased rate of complications. In addition to larger share, the segment is anticipated to witness the fastest growth rate during the forecast period, 2019 to 2027.

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