Intragastric balloons are gastric balloons made of soft biocompatible silicone material generally filled with sterile saline solutions or gas. These are inserted into the stomach through a non-surgical endoscopic process. An intragastric balloon when inflated would reduce the volume of stomach making a person feel fuller quicker and longer. It would also reduce the amount of food intake. This procedure is an option for overweight and obese persons with a body mass index (BMI) ranging from 30 to 70 who are not eligible for weight loss surgery. Permanent healthy changes to diet and exercise is required to ensure success of the intragastric balloon procedure. Primary advantage of this procedure is it helps avoid the risk associated with surgical procedures. However, few disadvantages are that it is not tolerated by all patients and risk of nausea and vomiting. These balloons may also lead to failure of weight loss if a patient does not stick to the diet and exercise.
Obesity is a complex metabolic illness resulting from the accumulation of excessive fat in the body leading to critical health conditions. It is now the new epidemic. According to WHO, over 1 billion people are overweight in the world, of these 50% are severely obese. Obese patients have high chances of developing serious medical conditions such as cardiovascular diseases, diabetes mellitus, stroke, and liver diseases. Studies have shown that these life threatening medical conditions can be improved by weight loss.
Major drivers of the intragastric balloons market are preference for minimally invasive technique, non-eligibility of obese patients for the surgical procedure, increased commercial availability of the product, and rise in prevalence of obesity due to diet and lifestyle changes. However, non-coverage of the endoscopic intragastric balloon procedure in insurance, and other side effects such as gastric erosion, development of gastric ulcers, nausea, and vomiting act as major restraints of the intragastric balloons market. Technological advancement and innovation along with reduced cost of the procedure are anticipated to propel the intragastric balloons market.
In terms of product type, the intragastric balloons market has been segmented into single, dual and triple intragastric balloons. The triple intragastric balloons segment is anticipated to be driven by increased weight loss and insertion with less invasive procedures.
Based on filling material, the intragastric balloons market has been segmented into saline filled and gas filled. Introduction of colored sterile saline solution as filler is likely to boost the growth of the market as it helps early detection of deflated balloon, thus avoiding the risk of surgical procedure for removal of the deflated balloon from the intestine. Gas balloons are bacterial resistant and are layered which reduce the risk of deflation of balloons.
In terms of end-user, the intragastric balloons market has been categorized into hospitals, ambulatory clinical services, and clinics. The hospitals segment is anticipated to witness significant growth due to availability of highly skilled professionals and funding.
In terms of region, the intragastric balloons market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to data provided by the WHO, over 50% of the world’s population was overweight or obese in 2014. Obesity is higher in regions with large high-income group population. Hence, North America is anticipated to be the fastest growing market, followed by Asia Pacific where the number of people suffering from obesity is increasing significantly. According to the WHO, top five countries with high obese population are the U.S., China, India, Russia, and Brazil.
Key players in the intragastric balloons market are Allurion Technologies, Apollo Endosurgery, Districlass Medical, Helioscopie Medical Implants, Silimed, Lexel, Medsil, Obalon Therapeutics, ReShape Medical, Spatz, Life Partners Europe, and Tulip Medical.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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