The global gastric space-occupying devices market witnessed substantial growth in 2021, valued at US$ 197.5 million. A recent report suggests that this growth trajectory will continue at an impressive 13.7% compound annual growth rate (CAGR) over the forecast period, with the market size projected to reach US$ 810.8 million by 2032. Gastric balloons emerged as the leading product in the market, capturing approximately 97.0% of the market share in 2021.
Despite advancements in lifestyle interventions, pharmacotherapies, and surgical procedures for managing obesity, the healthcare burden associated with this condition continues to escalate. In response, endoscopic bariatric therapies (EBTs) are gaining significant traction due to their effectiveness, safety, reversibility, and cost-effectiveness. These therapies offer a viable solution for individuals who are not suitable candidates for traditional bariatric surgery. Among the various endoscopic modalities, the utilization of space-occupying devices stands out as one of the most ancient and effective approaches.
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Commenting on the market dynamics, FMI, stated, “The burgeoning market for gastric space-occupying devices underscores the pressing need for innovative solutions in obesity management. With a substantial proportion of patients unable to access or opt for conventional treatments such as pharmacotherapy or bariatric surgery, these devices offer a promising alternative.”
Gastric space-occupying devices hold immense potential in addressing the escalating global obesity epidemic. As a non-invasive, reversible, and economically viable option, they present a compelling solution for healthcare providers and patients alike. The projected growth of the market reflects a growing recognition of the role these devices can play in comprehensive obesity management strategies.
Key opportunities for gastric space-occupying device manufacturers in the context of the information provided include:
- Market Demand: There is a growing demand for effective and sustainable treatment options for obesity management due to the significant global healthcare burden associated with obesity. Gastric space-occupying devices offer a non-invasive or minimally invasive alternative to traditional surgical interventions, making them attractive to patients and healthcare providers.
- Endoscopic Bariatric Therapies: With the increasing focus on endoscopic bariatric therapies as a sustainable treatment option for obesity management, manufacturers of gastric space-occupying devices have the opportunity to innovate and develop devices that can enhance the efficacy and safety of these therapies. Collaborations with researchers and healthcare institutions could lead to the development of novel devices tailored to specific patient needs.
- Combination Therapies: The trend towards combining space-occupying endoscopic devices with weight loss drug treatments presents an opportunity for manufacturers to develop integrated solutions that offer synergistic effects, enhancing the stability and long-lasting impact of weight loss efforts. Research and development in this area can lead to the creation of comprehensive obesity management solutions.
- Government Initiatives: Governments are increasingly taking initiatives to address the healthcare burden of obesity by creating awareness among the population. This presents an opportunity for manufacturers to collaborate with public health agencies and participate in awareness campaigns while also developing cost-effective solutions that align with government priorities.
- Market Growth Potential: The significant global healthcare burden associated with obesity, equivalent to the impact of smoking or armed violence, underscores the immense market potential for obesity management solutions. Gastric space-occupying device manufacturers can capitalize on this market growth by investing in research and development, market expansion efforts, and strategic partnerships.
- Cost-Effective Solutions: As healthcare systems face increasing financial strain due to obesity-related healthcare expenditures, there is a growing need for cost-effective solutions that can alleviate the economic burden. Manufacturers have an opportunity to develop and launch affordable gastric space-occupying devices that offer effective obesity management while minimizing healthcare costs for patients and providers.
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Overall, gastric space-occupying device manufacturers have a range of opportunities to address the pressing global challenge of obesity by developing innovative, effective, and cost-efficient solutions that align with market demand and government initiatives. By leveraging these opportunities, manufacturers can play a pivotal role in advancing obesity management and improving public health outcomes.
Key Companies Profiled:
- Apollo Endosurgery, Inc.
- Obalon Therapeutics, Inc.
- Allurion Technologies, Inc.
- Helioscopie
- Endalis
- MEDSIL
- ReShape Medical, Inc.
- Lexel Medical
- Scientific Intake
Key Market Segments Covered In Gastric Space-Occupying Devices Industry Research
By Product:
- Gastric Balloons
- Oral Palatal Space Occupying Devices
By End-User:
- Hospitals
- Speciality Clinics
- Ambulatory Surgical Centers
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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