Intragastric Balloon Market to Reach US$ 707.9 Mn by 2030 | Emerging Future Growth and Business Opportunities
Intragastric Balloon Market
The Intragastric Balloon Market refers to the market for a minimally invasive weight loss procedure in which a deflated balloon is inserted into the stomach and then inflated. This procedure reduces the stomach's capacity, leading to decreased appetite and weight loss. The market for this procedure is driven by the increasing prevalence of obesity, as well as the growing preference for minimally invasive procedures. Intragastric balloons offer a non-surgical alternative for weight loss, making them a viable option for individuals who are unable or unwilling to undergo surgery. The procedure is relatively safe and has a short recovery time, further driving its adoption.
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TOP Players in Market Report are: - Allergan (Acquired by Abbott), Apollo Endosurgery, Reshape Medical, Helioscopie Medical, Spatz FGIA, Endalis, Districlass Medical, Lexal, Medicone, Obalon Therapeutics, Silimed, Medsil, ReShape Lifesciences, EndoArt, MedSil, Silimed, Medsil, MetaCure, Semmar
Market Dynamics:
The growth of the Intragastric Balloon Market can be attributed to two key drivers. Firstly, the increasing prevalence of obesity worldwide is a major driver for the market. Obesity has become a global epidemic, with the number of overweight and obese individuals increasing significantly in recent years. This has led to a growing demand for effective weight loss solutions, driving the adoption of intragastric balloons.
Secondly, the growing preference for minimally invasive procedures is driving the market. Minimally invasive procedures offer various advantages over traditional surgical procedures, such as shorter recovery time, reduced risk of complications, and minimal scarring. Patients are increasingly opting for these procedures, fueling the demand for intragastric balloons.
Intragastric Balloon Market Segmentation:
By Product Type
Single Balloon
Dual Balloon
Triple Balloon
Others
By Filling Material
Saline Filled
Gas Filled
Others
By End User
Hospitals
Ambulatory Surgical Centers
Clinics
Others
By Route of Administration
Oral
Nasogastric/Roche Position
Gastroscopy
Others
By Distribution Channel
Online Pharmacies
Retail Pharmacies
Hospitals Pharmacies
Others
Intragastric Balloon Market Drivers:
Rising Obesity Rates and Health Concerns:
The increasing prevalence of obesity worldwide is one of the primary drivers for the growth of the intragastric balloon market. According to the World Health Organization (WHO), obesity has more than doubled since 1980, with over 1.9 billion adults being overweight and 650 million classified as obese in 2016. Consequently, the rising awareness about the health risks associated with obesity, such as cardiovascular diseases, diabetes, and certain types of cancer, has resulted in a growing demand for effective weight loss solutions.
The intragastric balloon offers a non-surgical and reversible option for weight loss. It is a minimally invasive procedure that involves placing a balloon in the stomach, which reduces the available space for food and creates a feeling of fullness. This allows individuals to consume smaller portions and helps in controlling calorie intake. The increasing preference for non-surgical weight loss procedures among patients is expected to drive the demand for intragastric balloons.
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Technological Advancements and Innovations:
Advancements in technology have significantly contributed to the growth of the intragastric balloon market. Manufacturers are constantly investing in research and development to improve the safety and efficacy of the devices. For instance, the development of soft, adjustable, and self-sealing balloons has addressed the limitations of earlier versions, such as higher rates of balloon deflation and early removal.
Furthermore, the integration of advanced materials, such as silicone and biodegradable polymers, has enhanced the durability and biocompatibility of the balloons. These technological advancements have not only improved patient outcomes but have also increased the acceptance of intragastric balloons among healthcare providers, thus driving market growth.
Intragastric Balloon Market Restraints:
High Cost of Intragastric Balloon Procedures:
One of the major restraints for the intragastric balloon market is the high cost associated with the procedures. The cost of the intragastric balloon procedure includes the costs of the balloon itself, pre-operative assessments, surgical implantation, follow-up visits, and removal. These costs can vary depending on factors such as the type of balloon used, the healthcare facility, and the region.
The high cost of intragastric balloon procedures can limit the adoption of these devices, especially in lower-income countries and among patients with limited financial resources. Additionally, the lack of insurance coverage for weight loss procedures further adds to the financial burden for patients. As a result, the high cost acts as a deterrent for potential patients, restraining the growth of the intragastric balloon market.
Potential Risks and Complications:
Although the intragastric balloon procedure is generally considered safe, there are potential risks and complications associated with its use. Some of the common complications include balloon deflation, gastric ulcers, gastric perforation, and gastrointestinal obstruction. Additionally, patients may experience nausea, vomiting, and abdominal pain during the initial phase of balloon placement.
These risks and complications can negatively impact patient outcomes and may deter individuals from considering intragastric balloon as a weight loss option. Healthcare providers need to carefully assess patient eligibility and provide adequate guidance and monitoring throughout the balloon placement period to minimize risks. The potential risks and complications associated with intragastric balloons act as restraining factors for the market growth.
Key Developments:
In January 2022, Apollo Endosurgery received FDA approval for its Orbera365 Managed Weight Loss System, the first intragastric balloon with an indication for weight loss therapy of up to 12 months. This enhanced system can help patients achieve and maintain weight loss goals.
In June 2021, Spatz3, a new dual intragastric balloon system by Spatz FGIA, received CE mark approval. It is designed to remain in the stomach for up to 12 months to induce early satiety and help with weight loss.
In May 2019, Allurion Technologies launched Allurion Virtual Care Suite, a digital health platform to support patients before and after the Elipse gastric balloon procedure. This can improve patient outcomes.
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