The global gastric balloon market is expected to reach US$ 152.1 Mn in 2027 from US$ 67.3 Mn in 2018
LONDON, March 11, 2019 /PRNewswire/ --
The global gastric balloon market is expected to reach US$ 152.1 Mn in 2027 from US$ 67.3 Mn in 2018. The gastric balloon market is estimated to grow with a CAGR of 9.7% from 2019-2027.
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Driving factors such as, increasing prevalence of obesity worldwide and rising preference for minimally invasive methods are expected to boost the market growth over the years.However, lack of reimbursements as well as side effects or complications associated with the use of gastric balloons are likely to have a negative impact on the growth of the market in the coming years.
Obesity has been spreading at an epidemic rate during the recent years, specifically in the urban areas of the developed nations. As per estimates made by the WHO, during 2016, more than 1.9 billion adults, aged 18 years and older, were overweight. Of these over 650 million were obse. Also, an estimated 41 million children under the age of 5 years were overweight or obese. The prevalence of overweight and obesity among children and adolescents aged 5-19 has witnessed a dramatic from a minimal 4% in 1975 to above 18% in 2016. At present, obesity rates are significantly high in the United States, Mexico, New Zealand and Hungary, while they are lowest in Japan and Korea. Whereas, during the future years, obesity rates in countries such as Korea and Switzerland are anticipated to increase at the fastest rate.
Global gastric balloon market, based on filling material was segmented into saline filled and gas filled.In 2018, saline filled segment held the largest share of the market, by filling material.
This segment is also expected to dominate the market in 2027, owing to effective weight loss in obese patients as compared to gas filled balloons. Furthermore, the segment is also anticipated to witness the fastest growth rate during the forecast period, 2018 to 2027.
Some of the major primary and secondary sources included in the report for the gastric balloon market are
American Society For Gastrointestinal Endoscopy, American Society For Metabolic And Bariatric Surgery, Society Of American Gastrointestinal And Endoscopic Surgeons, South African Society For Surgery, Obesity And Metabolism Food and Drug Administration, and Southern Oregon Medical Aestheticsamong others.
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