According to the latest market report “Intragastric Balloons Market: By Type (Fluid-Filled, Air-Filled) & By Region (Europe, North America, Asia-Pacific, RoW)-Forecast (2017-2021)” published by IndustryARC, estimates the market to reach $236.49 million by 2021.
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The Intragastric Balloon is a non-surgical intervention to assist in weight loss. A soft, round, inflatable balloon made of medical-grade silicon is placed inside the stomach through a gastro-scope that enters through the mouth. Once inserted into the stomach, the empty balloon is filled with sterile saline and can be kept in place for 6-12 months, depending on the type of balloon used.
Gastric balloons are very effective at reducing appetite and improving feelings of fullness after eating. They should be regarded as effective tools, they are temporary devices that help to kick start weight loss and institute long lasting dietary and lifestyle change. In recent years the concept of using an Intragastric balloon in such obese patients has been increased rapidly due to the increasing prevalence of obesity in the most of the regions such as United States and Europe with the highest obese cases noted, which in turn associated with the health conditions including hypertension, diabetes, dyslipidemia, coronary heart disease, stroke, sleep apnea, osteoarthritis, gallbladder disease, nonalcoholic fatty liver disease and cancer.
Globally, development of advanced treatment procedures; rise in obesity treatment awareness among people; increasing government initiatives across the globe; growing incidence of obesity and related health diseases; reduced trauma; greater exposure to the site of application; high operative success rates and faster blood flow restoration are the prime growth drivers of the Intragastric balloons market.
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In addition, increase in adoption of intragastric balloons in emerging economies such as Australia and Malaysia, will create new opportunities for the intragastric balloons market. However, higher cost of research and development, lack of skilled surgeons and higher cost of intragastric balloons procedures are the key restraints for the market.
Asia Pacific will have the fastest growth, owing to a rapid increase in obese population; rise in consumer awareness; ease of intragastric balloons treatment as a result of government policies; modernization of healthcare infrastructure; and growing medical tourism industry. This can be observed in developing nations such as China, and India in this region along with Australia and Malaysia.
The Prominent Players in Intragastric Balloons Market Include
- Apollo Endosurgery Inc.
- Obalon Therapeutics Inc.
- Allurion Technologies
- Spatz FGIA Inc.
- ReShape Medical Inc.
The prominent companies in intragastric balloons market include Apollo Endosurgery Inc., Obalon Therapeutics Inc., Allurion Technologies, Spatz FGIA Inc. and ReShape Medical Inc. among others. These companies through their broad range of products, product expansion and innovation have been successful in catering to a variety of customers, consequently maintaining their market hold in their respective regions.
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