Global Gastric Balloon System Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023
Say no to Bariatric and yes to Gastric balloon system
Global Gastric Balloon System Market: Gastric Balloon system is a path-breaking non-surgical weight loss procedure wherein surgeons place a gastric balloon in the stomach. The gastric balloon system is placed via esophagus making the patient full which in turn stops the patient from overeating and there is no increase the weight. This gastric balloon system is only used in cases where other options have failed to make any changes in the patient’s weight like diet and exercise or surgery is denied by the patient.
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In correspondent to WHO Global Health Observatory data, 2014; shows that quarter of the world population which includes children and adolescents in the developed countries are obese. With difficulties arising from being obese and overweight can lead to various complication in other diseases such as stroke, heart failure, joint pain, etc. knowing to the fact these complications can lead to death, more and more patients are looking out for better options to lose weight. With advances in the medical and healthcare industries, gastric balloon technology is safe and cost-effective over surgical procedures and it’s even accepted over bariatric procedures. The side effects related to gastric balloon systems are inflation of balloon, swelling, pain, vomiting, and chances of acute pancreatitis.
Gastric Balloon systems are filled with either gas or fluid products. Fluid-filled products have more adverse effects compared to gas-filled balloon systems. Even FDA has showed red flag for fluid-filled products.
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Gastric balloon system market is categorized on basis of product, mode of administration, filling material, and end user.
- Product
- Single Intra Gastric Balloon
- Double Intra Gastric Balloon
- Triple Intra Gastric Balloon
- Filling material
- Saline Filling
- Gas Filling
- Route of administration
- Endoscopy
- Swallowable
- End users
Hospitals, Bariatric Clinics and Ambulatory Surgical Centers
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The global Gastric balloon system market is divided into the region such as North America, Europe, Latin America, Middle East and Africa and Asia-Pacific. With the highest number of obese patients, North America leads among all the regions. According to Centers for Disease Control and Prevention (CDC), 36% of US population is obese. Following the footsteps, Europe leads its way and Latin America is growing exponentially in the healthcare sectors. In the developing nations of Asia-Pacific the gastric balloon system market is slowing growing due to medical tourism, low cost of the healthcare and developing newer technologies.
Due to progress in the technologies like the development of swallowable capsules form by Obalon technologies and Allurion which help reduce the risks of using the gastric balloon system have diminished and more and more patients are opting for the gastric balloon system. All these factors will cumulatively increase the revenue in the global market.
Some of the important companies include Allurion Technologies (U.S), Silimed Inc. (Brazil), Obalon Therapeutics Inc. (U.S), Reshape medical Inc. (U.S) are few names in the global gastric balloon system market. In 2016, FDA has approved Obalon Therapeutics Inc.’s Obalon balloon system which can be swallowed and is available in capsule form.
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