Intragastric Balloon Market Overview:
The Intragastric Balloon Market is a very small market from the, market players point of view, having come into the picture actively only since the past few years. There are less than a dozen players in the market of which the leading player is Apollo Endosurgery. The Intragastric balloon market reportedly made a revenue of around $70 million in 2017 and is expected to grow at a CAGR of 25.47% during the forecast period 2018-2023.
Intragastric Balloon Market Outlook:
Intragastric Balloons are inflatable balloon like sacs that are primarily used for weight loss procedures, when other traditional methods of dieting and exercise haven’t worked. They work by being placed inside the stomach walls either by a minimally invasive surgery or by non-surgical procedures, once placed they are inflated by being filled with either a liquid saline solution or air, due to which they occupy a large volume within the stomach. This gives the patient a feeling of satiety, and with the help of a controlled diet and exercise the patient can reduce eating portions and lose weight. The balloons are kept within the stomach for only 6 months and are either removed by endoscopy or they deflate automatically and pass through the digestive system. With the rise in obesity levels and aging population globally a non-surgical bariatric procedure seems to hold an advantage over the scarring ones due to which the market for Intragastric Balloons is expected to see a good growth level.
Intragastric Balloon Market Growth drivers:
Major drivers for the Intragastric Balloons is the fact that it is a non-surgical procedure, the balloon is placed either by an oral pill or by an endoscopic procedure, and takes only around 30 minutes to be setup. The idea of not leaving any scars is an extremely inviting one. This has been a major growth driver for the market of Intragastric Balloons.
Another major factor has been the rise in obesity levels globally and especially in the US, where around 40% of the population is reported to be obese. Obesity has a lot of adverse effects, which also leads to comorbid diagnosis. This growing trend in the health and lifestyle of people is a major avenue for the product to inculcate a healthy lifestyle in the population.
Intragastric Balloon Market Challenges:
Challenges faced by the market pertain to that not every patient can undergo this procedure. The patient’s Body Mass Index (BMI) needs to be in between 30 to 40, cannot be used on patients who have had any sort of previous gastro surgery and cannot be used by patients having drugs or alcohol addiction. This forms a major constraint on the market size.
Another challenge also faced by the market is the side effects with the procedure where, up to 2 weeks after the placement of the balloon device the patient can have nausea, vomiting, stomach cramps, reflux and other symptoms. It also depends on the psychology of the patients and his readiness with having a foreign object placed inside his body.
Intragastric Balloon Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Intragastric Balloon Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.
Intragastric Balloon (SAP) Market Report: Industry Coverage
Intragastric Balloon Market– By Filler Material: Saline filled and Air filled.
Intragastric Balloon Market– By Implanting Procedure: Surgical and Non-Surgical.
Intragastric Balloon Market – By Type: Single Intragastric Balloon and Double Intragastric Balloon.
Intragastric Balloon Market– By Application Areas: Obesity, Diabetes, Diet Control, Weight-loss, Pre-operative Weight Reduction and others.
Intragastric Balloon Market – By End User Industry: Medical and Health care Industry: Hospitals and Clinics.
The Intragastric Balloon Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Intragastric Balloon Market Key Players Perspective:
Some of the Key players in this market that have been studied for this report include: Apollo Endosurgery, Obalaon therapeutics, ReShape, Spartz Medical, Allurion, Medsil, Medicone, Silimed, Endalis and Districlass among others .
Market Research and Market Trends of Intragastric Balloon Market
- One increasing trend that is noticed in the market is the approval from regulatory bodies such as the FDA in the US for this medical device and its related procedure followed by the accepting nod by the American Society for Metabolic and Bariatric surgery. These approvals are sure to be replicated in other countries as well which will be a positive factor for the market of Intragastric Balloons as its application becomes more standardized.
- Another global trend that is seen is the increase in obesity level in the population. According to the World Health Organization (WHO) global obesity levels have triples since the 1975. In 2016, around 40% of the adults above the age of 18 were overweight and 13% were obese. Obesity also leads to other comorbid diagnosis, like ischemic strokes and diabetes among other diseases, and hence this trend can positively push the market for Intragastric Balloons as a non-scarring non-surgical procedure for weight loss.
- The many research reports also showcasing the positive effects of the Intragastric Balloons also points towards a trend of increasing acceptance of this not very old procedure. Tis reflects positively on the market and points towards a higher recommendation and usage of this procedure for weight loss.