Newark, NJ, Sept. 30, 2020 (GLOBE NEWSWIRE) — As per the report printed by Fior Markets, the global intragastric balloons market is predicted to develop from USD 35.91 million in 2019 to USD 90.2 million by 2027, at a CAGR of 12.2% throughout the forecast interval 2020-2027.
Intragastric balloons are made up of soppy biocompatible silicone materials, normally crammed with sterile saline fuel or resolution. A considerable amount of the world’s inhabitants suffers from weight-related well being issues due to sedentary life and poor dietary behaviors. In consequence, this has boosted the marketplace for quite a few medically permitted weight discount therapies, together with intragastric balloons. Different development driving elements embody rising consciousness of well being dangers associated to weight problems and the low price of intragastric balloon procedures. As well as, rising affected person demand for minimally invasive (MI) surgical procedure additionally supplies a lift to market development. Since they’re administered orally by way of a non-surgical endoscopic process and don’t require any incisions on the physique, intragastric balloons function a necessary non-surgical possibility for weight reduction. Producers are concentrating on creating gadgets with minimal side-effects like gastric erosion, ulceration, and nausea. They’re additionally designing such balloons, that are quantity adjustable. Intragastric balloons are mostly utilized by folks affected by weight problems, particularly these having a BMI (Physique Mass Index) starting from 30 to 70.
With the outbreak of a world pandemic, many have confronted wage cuts and job losses. Covid-19 has turn out to be a menace to your complete world’s financial system and has negatively impacted every kind of markets, together with the intragastric balloons market. With much less disposable revenue and damaged provide chains, the market’s development is predicted to decelerate. Different market development hindering elements embody problems & dangers related to intragastric balloon procedures and lack of reimbursement insurance policies.
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Key gamers working within the international intragastric balloons market embody Apollo Endosurgery, Inc., MEDSIL, Obalon Therapeutics, Inc., Spatz Fgia, Inc., Allurion Applied sciences, Inc., Helioscopie, Lexel Medical, and ReShape Medical, Inc., amongst others. To achieve a big market share within the international intragastric balloons market, the important thing gamers at the moment are specializing in adopting methods similar to product improvements, mergers & acquisitions, latest developments, joint ventures, collaborations, and partnerships. Allurion Applied sciences, Inc. and Apollo Endosurgery, Inc. are among the greatest producers and suppliers of intragastric balloons within the international market.
Single dominated the market and held the biggest market share of 37.1% within the 12 months 2019
The sort phase contains of single, twin and triple. Single dominated the market and held the biggest market share of 37.1% within the 12 months 2019. This phase held the bulk market share in 2019 as a consequence of its optimistic product traits like security & efficacy.
Endoscopy dominated the market and was valued at USD 23 million within the 12 months 2019
Based mostly on administration, the worldwide market has been divided into endoscopy and tablet type. Endoscopy dominated the market and was valued at USD 23 million within the 12 months 2019. Rising endoscopic applied sciences are able to reproducing the few anatomical modifications that come up throughout weight reduction surgical procedure, and are equally profitable. Furthermore, endoscopic procedures are a lot much less invasive & cost-effective in distinction with bariatric surgical procedure. It’s anticipated that these elements will result in this phase’s development.
Saline-filled dominated the market and was valued at USD 19.four million within the 12 months 2019
Based mostly on filling materials, the market has been segmented into fuel stuffed and saline stuffed. Saline-filled dominated the market and was valued at USD 19.four million within the 12 months 2019. This is because of its widespread availability and efficient weight reduction traits.
Hospitals dominated the market and held the biggest market share of 47.6% within the 12 months 2019
On the premise of end-use, the intragastric balloons market has been segmented into ambulatory surgical facilities, clinics, and hospitals. Hospitals dominated the market and held the biggest market share of 47.6% within the 12 months 2019. The big share of this phase might be attributed to elements similar to weight-loss therapy choices that require a hospital keep, availability of expert professionals, and the provision of hi-tech medical gear in hospital settings.
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Regional Phase Evaluation of the Intragastric Balloons Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.Okay., Italy, Spain, Remainder of Europe)
- Asia-Pacific (China, Japan, India, Remainder of APAC)
- South America (Brazil and Remainder of South America)
- Center East and Africa (UAE, South Africa, Remainder of MEA)
On the premise of geography, the worldwide intragastric balloons market has been categorized into North America, Europe, South America, Asia Pacific, and Center East and Africa. The North America area accounted for the key market share of 42.8% within the 12 months 2019 and is anticipated to develop all through the projected interval. The big share of this phase is attributed to key elements similar to the provision of expert professionals, the excessive pervasiveness of weight problems, and the excessive reputation of weight reduction therapies. However, the Asia-Pacific area is predicted to develop on the highest CAGR throughout the forecast interval 2020-2027. This development is because of elements like an more and more overweight inhabitants, availability of comparatively low-cost therapy, and rising unhealthy life-style habits.
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In regards to the report:
The worldwide intragastric balloons market is analyzed on the premise of worth (USD Million), quantity (Okay Models), export (Okay Models), and import (Okay Models). All of the segments have been analyzed on a world, regional, and nation foundation. The examine consists of the evaluation of greater than 30 international locations for every phase. The report presents an in-depth evaluation of driving elements, alternatives, restraints, and challenges for gaining the important thing perception of the market. The examine consists of porter’s 5 forces mannequin, attractiveness evaluation, uncooked materials evaluation, and competitor place grid evaluation.
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