Global Intragastric Balloons Market Is Expected to Reach USD 90.2 Million by 2027 : Fior Markets

Newark, NJ, Sept. 30, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, theA global intragastric balloons market is expected to grow from USD 35.91 million in 2019 to USD 90.2 million by 2027, at a CAGR of 12.2% during the forecast period 2020-2027.Intragastric balloons are made up of soft biocompatible silicone material, usually filled with sterile saline gas or solution. A large amount of the world's population suffers from weight-related health problems because of sedentary lifestyles and poor dietary behaviors. As a result, this has boosted the market for numerous medically approved weight reduction treatments, including intragastric balloons. Other growth driving factors include increasing awareness of health risks related to obesity and the low cost of intragastric balloon procedures. In addition, rising patient demand for minimally invasive (MI) surgery also provides a boost to market growth. Since they are administered orally via a non-surgical endoscopic procedure and do not require any incisions on the body, intragastric balloons serve as an essential non-surgical option for weight loss. Manufacturers are concentrating on creating devices with minimal side-effects like gastric erosion, ulceration, and nausea. They are also designing such balloons, which are volume adjustable. Intragastric balloons are most commonly used by people suffering from obesity, specifically those having a BMI (Body Mass Index) ranging from 30 to 70.With the outbreak of a global pandemic, many have faced salary cuts and job losses. Covid-19 has become a threat to the entire world's economy and has negatively impacted all kinds of markets, including the intragastric balloons market. With less disposable income and broken supply chains, the market's growth is expected to slow down. Other market growth hindering factors include complications & risks associated with intragastric balloon procedures and lack of reimbursement policies.DOWNLOAD FREE SAMPLE REPORT ATA players operating in the global intragastric balloons market include Apollo Endosurgery, Inc., MEDSIL, Obalon Therapeutics, Inc., Spatz Fgia, Inc., Allurion Technologies, Inc., Helioscopie, Lexel Medical, and ReShape Medical, Inc., among others. To gain a significant market share in the global intragastric balloons market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Allurion Technologies, Inc. and Apollo Endosurgery, Inc. are some of the biggest manufacturers and suppliers of intragastric balloons in the global market.
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