According to the Graphical Research new growth forecast report titled “North America Intragastric Balloon Market Share By End-use (Hospitals, Ambulatory Surgical Centers, Clinics), By Product (Single Intragastric Balloon, Dual Intragastric Balloon, Triple Intragastric Balloon), By Filling Material (Saline-filled Balloon, Gas-filled Balloon), Industry Analysis Report, Regional Outlook (U.S., Canada)”, Estimated To Exceed USD 35 Million By 2026.
Rising demand for minimally invasive techniques will drive the North American intragastric balloon market. Intragastric balloons offer a non-surgical treatment for obesity. Other procedures such as gastric bypass and gastrectomy involve complicated surgical procedures. Minimally invasive techniques are preferred by patients due to advantages such as limited blood loss, reduced hospital stay and faster recovery. These factors will drive the demand for intragastric balloons, propelling the market expansion.
The low price of intragastric balloon procedures will be another factor instrumental in boosting the industry expansion. Other procedures such as sleeve gastrectomy and gastric bypass are expensive as compared to intragastric balloon surgery. The cost-effective nature of the procedure will be instrumental in driving the product demand over the forecast period. Furthermore, growing obesity in the region will be another factor augmenting the market growth.
However, complications and risks related to intragastric balloon procedure will dampen the market expansion. Furthermore, lack of reimbursement for the procedure will impede the market growth in the future.
The market is segmented into single balloon, dual balloon, and triple balloon by product. The dual balloon segment will exhibit nearly 37% CAGR over the forecast period, making it the fastest growing segment. Dual intragastric balloons offer faster weight loss in limited timeframe due to presence of two, connected balloons. Furthermore, reduced risk of migration and increased patient comfort will boost the adoption rate, spurring the industry expansion.
By filling material, intragastric balloons are classified as saline-filled and gas-filled balloons. Gas filled balloons held 35% market share in 2019 and will witness lucrative growth over the analysis timeframe. Attributes such as bacteria resistance, gastric acid resistance, and lightweight nature of the balloon will boost the adoption rates. Furthermore, increasing patient compliance during removal and resistance to spontaneous deflation will further fuel the market expansion.
North America intragastric balloon market was dominated by the U.S. intragastric balloon market. The U.S. market will exhibit nearly 18% CAGR over the analysis period. Factors such as growing obesity rates in the country due to sedentary lifestyle and increased consumption of junk food, and growing demand for minimally invasive techniques will spur the market expansion.
Key market players in North America intragastric balloon market are Allurion Technologies, Apollo Endosurgery Inc., Halex Istar Industria Farmaceutica Ltd., Helioscopie Medical Implants, Obalon Therapeutics Inc., and Reshape Lifesciences Inc. These companies are focusing on strategies such as new product launches, and mergers to consolidate their market share and customer base. For instance, in September 2016, Obalon Therapeutics received U.S. FDA approval for its Obalon Balloon Systems. This move has helped the company in marketing their product in the U.S. market and increased their customer base.
North America Medical Intragastric Balloon Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
North America Intragastric Balloon Market Size, By Filling Material, 2015 to 2026, (USD Million)
North America Intragastric Balloon Market Share, By Product, 2015 to 2026, (USD Million)
- Single Balloon
- Dual Balloon
- Triple Balloon
North America Intragastric Balloon Market Value, By End-use, 2015 to 2026, (USD Million)
- Ambulatory Surgical Centers
The above information is provided for the following region and countries: