Product Description
Overall, the global gastric device market was valued at over $110 million in 2023. This is expected to increase over the forecast period at a CAGR of 2.5% to reach just over $131 million.
Throughout this medical market research, we analyzed over 10 gastric device companies globally and used our comprehensive methodology to understand the market sizes, unit sales, company market shares, and to create accurate forecasts.
DATA TYPES INCLUDED
- Unit Sales, Average Selling Prices, Market Value & Growth Trends
- Forecasts Until 2029, and Historical Data to 2019
- Market Drivers & Limiters for Each Segment
- Competitive Analysis with Market Shares for Each Segment
- Recent Mergers & Acquisitions
- COVID19 Impact
- Disease Overviews and Demographic Information
- Company Profiles, Product Portfolios and SWOT for Top Competitors
Global Gastric Device Market Insights
This sector often takes a backseat to widely recognized and conventional weight loss surgeries like gastric sleeves and bypasses. Nonetheless, it remains significant due to the minimally invasive and reversible nature of gastric bands and balloons. Additionally, the surge in global obesity rates plays a pivotal role in propelling the expansion of this market. Gastric devices provide a secure and temporary avenue for weight loss.
Global Gastric Device Market Share Insights
- Allurion Technologies has secured a strong position in the global wellness market through its innovative Allurion® Balloon technology, offering a non-invasive solution for sustainable weight loss. With a commitment to science-driven results and a patient-centric approach, the company has become a trailblazer in empowering individuals to achieve their health goals. In 2022, it celebrated the sale of its 100,000th balloon globally, and in 2023, it went public on the New York Stock Exchange, although it is not yet in the American market.
- Apollo Endosurgery, now part of Boston Scientific, ranked second in the total laparoscopic device market in 2023, mainly due to its significant share of the gastric device market. The company expanded its portfolio with the OverStitch™ endoscopic suturing system for traditional gastrointestinal applications. Boston Scientific acquired Apollo Endosurgery in 2022.
- ReShape Lifesciences claimed the third spot in the total gastric device market in 2023, dominating the gastric band segment. Its portfolio includes the LAP-BAND® adjustable gastric banding system and the ReShape Vest™, an investigational device for treating obesity. With the advantage of having the only FDA-approved gastric band device, the company announced the first implantation of the ReShape Vest™ in the ENDURE II trial in April 2019.
Market Segmentation Summary
- Gastric Bands
- Gastric Balloons
Global Research Scope Summary
| Report Attribute | Details |
|---|---|
| Regions | North America (Canada, United States) Latin America (Argentina, Brazil, Chile, Colombia, Mexico, Peru, Venezuela) Western Europe (Austria, Benelux, France, Germany, Italy, Portugal, Scandinavia, Spain, Switzerland, U.K.) Central & Eastern Europe (Baltic States, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Kazakhstan, Poland, Romania, Russia, Turkey, Ukraine) Middle East (Bahrain, Iran, Israel, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates) Asia Pacific (Australia, Cambodia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam) Africa (Algeria, Egypt, Ghana, Kenya, Libya, Morocco, Nigeria, South Africa, Sudan, Uganda) |
| Base Year | 2023 |
| Forecast | 2024-2030 |
| Historical Data | 2020-2023 |
| Quantitative Coverage | Market Size, Market Shares, Market Forecasts, Market Growth Rates, Units Sold, and Average Selling Prices. |
| Qualitative Coverage | COVID19 Impact, Market Growth Trends, Market Limiters, Competitive Analysis & SWOT for Top Competitors, Mergers & Acquisitions, Company Profiles, Product Portfolios, FDA Recalls, Disruptive Technologies, Disease Overviews. |
| Data Sources | Primary Interviews with Industry Leaders, Government Physician Data, Regulatory Data, Hospital Private Data, Import & Export Data, iData Research Internal Database. |
