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Intragastric Balloons Market 2021 Upcoming Trends, Technology, Business Growth, Investment Opportunity

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Swapnil GVR
Intragastric Balloons Market 2021 Upcoming Trends, Technology, Business Growth, Investment Opportunity

The global intragastric balloons market size was valued at USD 14.9 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2021 to 2028. The increasing prevalence of obesity is anticipated to drive market growth.

 

Despite the high prevalence of obesity and the wide acceptance of weight-loss surgical procedures (such as gastric bypass and sleeve gastrectomy) by healthcare professionals, merely 1% or 2% of the obese population is eligible for these surgeries leading to high mortality due to obesity. For instance, according to World Health Organization data, globally, nearly 2.8 million individuals die each year due to obesity or overweight. This high mortality is anticipated to fuel demand for alternate and minimally invasive procedures such as an intragastric balloon.

 

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The high costs and procedural complications associated with aspiration therapy and neuroblocking therapy is anticipated to increase the demand for intragastric balloons. Furthermore, the development of novel intragastric balloons to overcome the shortcomings of conventional balloons is anticipated to further boost market demand. For instance, the magnetic soft endoscopic capsule-inflated intragastric balloon developed in collaboration with Nanyang Technological University, Singapore, is a biocompatible, acid-resistant and robot system for weight loss, thus reducing the need for complex insertion tools and the likelihood of adverse effects.

 

Key Player Mentioned:

  • Apollo Endosurgery, Inc.
  • Obalon Therapeutics, Inc.
  • Allurion Technologies, Inc.
  • Spatz3
  • Helioscopie
  • Endalis
  • MEDSIL

Product Segment Analysis:

 

  • Single
  • Dual
  • Triple

Application Segment Analysis:

  • Hospitals
  • Clinics
  • Ambulatory surgical centers

Access Press Release @: https://www.grandviewresearch.com/press-release/global-intragastric-balloon-market

 

Regional Segment Analysis:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

The single segment dominated the market for the intragastric balloon and held the largest revenue share of 75.2% in 2020 and the triple segment is anticipated to witness lucrative growth over the forecast period. The single intragastric balloon segment held the largest revenue share owing to the availability of a large number of products in the market and scientific evidence supporting its safety and efficacy. The benefits offered by the existing triple balloon system, such as minimal downtime and fully reversible treatment, are anticipated to increase the demand for this type of intragastric balloon.

 

Ambulatory surgical centers are anticipated to witness rapid growth over the forecast period due to high costs of hospitalization, rise in demand for minimally invasive procedures and treatment options.

 

COVID-19 Impact:

The outbreak of the COVID-19 pandemic has significantly increased the demand for antiviral medicines globally. The treatment of novel coronavirus has increased the demand for broad-spectrum Glucose to manage the disease. Remdesivir, favipiravir, oseltamivir, and other combination medicines are highly prescribed for the treatment of COVID-19. Moreover, governments are increasing funding to pharmaceutical companies to develop novel therapeutics against COVID-19. For instance, in June 2021, the U.S. government has announced an investment of more than USD 3 billion to fasten the discovery, development, and manufacturing of antiviral medicines for COVID-19 treatment. The rising incidence of disease coupled with increasing R&D will increase the demand for Glucose in the next 2 to 3 years.

Good Reasons to Buy a Global Intragastric Balloons Market Report:

  • Offers detailed market breakdown and data triangulation that will help guide the market trends.
  • The methodology used in the report gives the absolute authentic data that helps advising whether the market has an opportunity in the upcoming years.
  • Provides a detail analysis about the Covid-19 impact on the market and how it will help boost the market in the near future.
  • Give’s a thorough analyst’s viewpoint which guides the client through market collaterals for the better opportunities in the market.
  • Pinpoints the most valued region and how the market can be expanded in the industry to generate more revenue with all the important government guidelines and environmental policies.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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