The Global Intragastric Implant Market is Expected to Grow at a CAGR of 9.6% During the Forecast Period 2017–2023 to Aggregate $260.4 million by 2023
Factors, such as rise in the prevalence of obesity, an increase in the adoption of minimally invasive techniques, the growing awareness about early prevention of diseases, and technological advancements in endoscopic management of obesity, are driving the market growth. Further, the introudtcion of swallowable intragatsric pills will spur the sales of intragatsric balloons in the market.
Infoholic Research LLP, a global market research and consulting company, has published a study titled “Global Intragastric Balloon Market – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2017–2023” (October 2017).
According to Infoholic Research, the adoption of intragastric balloons for treating obesity has shown a significant impact on the psychological health of many obese people. Intragastric balloon is an alternative to bariatric and other invasive surgeries and is an effective intervention in the morbidly obese to achieve weight loss. The gastric balloon is an inflatable medical device, which is temporarily placed into the stomach for a period of 6-12 months based on the type of gastric balloon used. The procedure is performed endoscopically through minimal invasive technique using a microcatheter to inflate the silicon balloon. A deflate balloon is inserted through mouth and then the balloon is expanded in the stomach. This is an outpatient procedure and is completed within 20 minutes. An individual feels full sooner after eating less and can lose weight in the following months. This procedure is non-surgical, non-invasive, and requires no-incision. However, this procedure is not permanent and helps individual to lose up to three times the weight when compared to following a diet alone. Apart from weight loss it has many health benefits such as improving diabetes, maintain cardiac health, and treat other bone-related issues.
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Further, the popularity of minimally non-invasive endoscopic techniques and the introduction of swallowable intragastric balloon are expected to increase the demand of gastric balloons during the forecast period.
Intragastric balloons have proved their efficacy in treating obesity and is expected to become one of the effective alternatives to most of the bariatric surgeries and this treatment is preferred by many surgeons. Single intragastric balloon is the dominant segment in the global intragastric balloon market and has a wide acceptance across the globe, especially in the US. The segment generated more than 50% of the total revenue in 2016. Dual intragastric balloons are expected to grow at a moderate growth. The dual intragastric balloon starts weight loss with placement of two connected saline-filled intragastric balloons that are made of silicone. Most of the dual balloons are kept inside stomach for six months and the room in the stomach requires less space and makes the individual feel full. Triple intragastric balloon accounted more than 15% share of the market and is the fastest-growing segment among all the segments. Most of the obese patients will adopt this procedure as it has minimally invasive and requires only a microcatheter to inflate the balloon after swallowing the pill.
The market has significant opportunities to offer high-quality treatment with the availability of single intragastric balloon, dual intragastric balloon, and triple intragastric balloon. The placement of intragastric balloon is simple and requires no multimodal image guidance equipment to perform the procedure. However, a standard X-ray or radiographic method is preferred for real-time image of the balloon as it uses low-level radiation.
Products, such as Orbera, ReShape, Spatz, and Obalon, are branded intragatsric balloons that have shown best results and are in high demand in the market. According to Infoholic Research, the Global Intragastric Balloon market is expected to grow at a CAGR of 9.6% during the forecast period 2017–2023 to touch an aggregate of $260.4 million by 2023.
The market is analyzed based on three segments, namely product types, end-users, and regions. The product type covers single intragastric balloon, dual intragastric balloon, and triple intragastric balloon. Regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). In North America, the US and Canada are set to be the leading countries owing to the highest number of intragastric balloon procedures performed in 2016. Europe is set to be the second leading region and held more than 21% of the market share in 2016. The UK, Germany, and France are among the top three leading countries in Europe in terms of revenue due to the advancements in technology and anticipated launch of new products. In Asia Pacific, India and China are the most attractive countries for the players and they hold tremendous business opportunities. RoW is set to be an emerging market in the next 5–6 years.
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“Endoscopic procedures are filling the invasiveness and efficacy gaps in currently available bariatric treatment. Most of the people prefer undergoing non-invasive surgery or treatment and would like to maintain long-term weight loss. The adoption is further going to increase due to advancements in endoscopic management and increased awareness about the positive effects of intragastric balloons on obese population. High cost and lack of reimbursements remain the major challenges for the market.” - Mohammed Azhar, Senior Research Analyst (Research – Healthcare) at Infoholic Research.
Further, the report aims to cover the below points:
- An in-depth analysis of the key business opportunities in countries and verticals
- Complete details about the various types of intragastric balloon
- Complete details of trending ablation devices
- Complete details about the analysis of top players
- Industry outlook including current and future market trends, drivers, restraints, and emerging technologies