Asia Pacific Intragastric Balloon Market size was valued at USD 4.2 million in 2019 and is expected to witness over 18.0% CAGR from 2019 to 2026.
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Intragastric balloons are a novel, non-surgical treatment for obesity. They offer several advantages over traditional surgical treatments for obesity. Various advantages such as no surgery, reduced hospital stay, and absence of blood loss will drive the industry growth. Traditional surgical treatments for obesity such as gastric bypass and sleeve gastrectomy involve the excision and bypassing of parts of the stomach. These procedures are complicated and involve risks such as leakage, hernia, and blood loss. Thus, patients show increased preference toward non-surgical procedures, fostering the intragastric balloon market growth.
The economical price of intragastric balloons will considerably increase product demand among the patients. The average cost of an intragastric balloon procedure is about one-third of other surgical procedures. This will spur the product demand in the market. Furthermore, rising healthcare expenditures will boost the demand for low-cost treatment options. Additionally, intragastric balloons are minimally invasive, and reduce the duration of hospital stay, further decreasing the cost of procedure. Thus, the low-cost of intragastric balloons will boost the industry expansion over the analysis timeframe.
However, lack of reimbursement by insurance companies might impede the market growth over the short run. Furthermore, complications arising out of intragastric balloon procedures might restrict adoption rates.
Asia Pacific Market, By Product
The intragastric balloon market by product is segmented into single, dual, and triple intragastric balloons. The single intragastric balloon segment held market value of USD 2.9 million in 2019 and will show robust growth during the forecast period. Technological advancements associated with the product such as the ability to swallow it like a pill, rapid weight loss, and reduction of undesirable effects such as vomiting and gastric erosion will fuel the segment growth over the forecast period.
Asia Pacific Market, By Filling Material
Intragastric balloons by filling material are classified as saline-filled and gas filled. The saline-filled balloons dominated the intragastric balloon market with share of more than 60% in 2019. Saline filled balloons result in faster weight loss as compared to the gas filled balloons. Saline filled balloons significantly delay the gastric emptying process, helping the patient feel full for longer and reducing the weight. These factors will propel the saline-filled balloon segment expansion.
Asia Pacific Market, By End-use
Intragastric balloon procedures are carried out in hospitals, ambulatory surgical centres, and clinics. The hospital segment held a substantial market share in 2019 and is poised to exhibit 17.9% CAGR over the forecast period. The high growth can be attributed to the availability of skilled caregivers and the quality of post-procedure care available in hospitals. Furthermore, the penetration of hospitals in developing countries to cater to smaller cities and suburban areas should drive the segment growth.
Asia Pacific Market, By Country
India held the largest market share in the Asia Pacific intragastric balloon market. The high market share can be attributed to the large population of the subcontinent and the number of obese individuals. Furthermore, India is a hotbed for medical tourism due to availability of high-quality medical treatment at significantly low cost. These factors will contribute to the growth of the Indian intragastric balloon market over the forecast period.
Competitive Market Share
Major companies operating in the market include Apollo Endosurgery, Allurion Technologies, Obalon Therapeutics Districlass Medical, and Reshape Lifesciences. Other players include Spatz FGIA Inc., Helioscopie, MedSil, Lexel Medical and Endalis. Companies are adopting numerous strategies to increase the market share. For instance, in February 2018, Apollo Endosurgery Inc., announced the South Korean Ministry of Food and Drug Safety’s (MFDS) approval for its Orbera Intragastric Balloon System. This has enabled the company to expand its geographical outreach and strengthen its market presence in the Asia Pacific market.
Intragastric balloons were first introduced in 1985 as a non-surgical treatment for obesity. India is one of the countries in Asia Pacific where intragastric balloons are approved for patient use. Advent of novel products since the introduction of the first intragastric balloon have led to the regional market expansion. For instance, the Orbera intragastric balloon by Apollo Endosurgery Inc. is an FDA approved intragastric balloon available in Asia Pacific. It is a saline filled balloon that is inserted through endoscopy and then filled with saline. After six months the balloon is removed in a short procedure. These advances will propel the Asia Pacific intragastric balloon industry over the forecast timeframe.