Gastric Balloon Market to double up by 2027 US$ 152.1 Mn

Publisher: The Insight Partners

The gastric balloon is a niche market in nature with limited number of players, having considerable revenue in the market. Most of the companies operating in the gastric balloon market are offering their products in the European and the Middle East region, whereas, only three products have FDA approvals for the commercialization of their products.

The most notable market participants are Apollo Endosurgery, Inc. and Allurion Technologies, Inc., ENDALIS, Helioscopie Medical Implants, LEXEL SRL, MEDSIL, Obalon Therapeutics, Inc., ReShape Lifesciences, Inc., Silimed, and Spatz FGIA, Inc. occupying a considerable share of the market owing to their offerings to the market.

Market leaders are involved in activities such as, obtaining approvals to serve a better customer base. For instance, In December, 2018, Obalon received FDA approval of the Obalon Navigation System, which eliminates the need to use x-ray when placing the Obalon Balloon System. The Obalon Navigation System and Touch Inflation Dispenser are expected to be commercially available during the first quarter of 2019 in the United States. Also, during February, 2018, Apollo received approval from the South Korean Ministry of Food and Drug Safety’s (MFDS) for the ORBERA Intragastric Balloon System. Shin Han Systek Co. Ltd. was declared as the exclusive distributor for ORBERA in South Korea. Owing to these approvals, it has been possible for the companies to serve larger customer base as well as provide better weight loss solutions to the patients.

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.

Along with obtaining approvals, various companies have signed agreements in order to strengthen as well as extend its customer base. Additionally various companies are also undergoing other strategic alliances such as collaboration partnerships to garner their significance and remain competitive in the market.