Studies reveal that over 2 billion people are suffering from obesity and about 3 million people lose their lives each year due to obesity. Intra-gastric balloons have emerged as a boon for shedding weight and reducing obesity.
The healthcare sector is increasingly shifting towards non to minimally invasive procedures from surgical weight loss treatments, keeping patient convenience at top.
Faster approvals from regulatory bodies such as the US FDA and its associated treatment followed by the American Society for Metabolic and Bariatric Surgery are further standardizing the application of intra-gastric balloons.
High adoption of minimally invasive surgeries by obese patients, owing to increased risks from invasive weight-loss treatments, is fueling the demand for intra-gastric balloons. Intra-gastric balloons are gaining a good reputation as they are cost-effective.
According to the American Society for metabolic and Bariatric Surgery (ASMBS), after receiving approval from the US FDS, more than 5000 implantation of intra-gastric balloon have been successfully processed.
Involvement of robotics to help doctors for minimal invasive procedures is proving to be a perk in the healthcare sector. With the help of robots, pace of surgical operations has risen from 1.8% to 15%.
Moreover, the JAMA Network Open has discovered that colon operations conducted with help of robots were safer than open operations. Furthermore, market players are innovating intra-gastric balloons to further reduce the cost of expensive surgeries.
Case in point, Allurion technologies has developed the world’s first swallowable non-invasive intra-gastric balloons.
Several medical insurance companies do not involve endoscopic intra-gastric balloons in their reimbursement policies, restricting from undergoing this procedure. Side effects caused due to intra-gastric balloons such as gastric ulcers, erosions, and nausea are a major challenge for market players. Further, patients have to stick to strict diet rules while the balloon is in place.
The COVID-19 pandemic is having an adverse impact on the intra-gastric balloons market. With governments across the world imposing nationwide lockdowns, several healthcare units have been shut down.
Gastroenterologists are kept away from frontline operations for COVID-19 treatment. Healthcare professionals, especially in Italy, are in process to carry out the removal of intra-gastric balloons which are in their maturity period, states the NCBI.
Healthcare professionals are taking utmost care for treatment at their personal clinics and are serving emergency patients to stop the spread of coronavirus. According to the British Journal of Surgery (BJS) Society, gastrointestinal surgeries have dropped by 90% during the pandemic.
Such notable decline in demand are hitting the profit margins of intra-gastric balloon manufacturers.
North America continues to remain in the vanguard of the intra-gastric balloons market, owing to rising cases of obesity and increasing adoption of bariatric procedures.
The region is tech center for healthcare center. Furthermore, rising investments in advanced healthcare in tandem with favorable reimbursement policies are creating conducive grounds for market players.
Asia Pacific (APAC) is projected to emerge as the most lucrative region in intra-gastric balloons market in coming years. Increasing government investments in healthcare sector in emerging countries such as India, and China are fueling market growth.
Additionally, rising trend of medical tourism and minimally non-invasive technologies in the region are attracting stakeholders.
The intra-gastric balloons market is fairly consolidated and lead by few market players. These market players are continuously focusing upon product development. For instance,
Players in the intra-gastric balloons market include
Intra-gastric balloon market is segmented on the basis of the following,
By Product
By Filling Materials
By End User
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Intra-gastric Balloons Market
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