The Global Intragastric Balloon Market is thoroughly examined in the study, along with its size and trends, product mix, channels of distribution, and supplier analysis. An interim medical tool for weight loss is the intragastric balloon. An inflatable silicone balloon that has been filled with saline is inserted into the stomach. When diet and exercise have failed to produce the desired results, this approach is marketed as a way to lose weight; nevertheless, surgery is not advised. By restricting food intake and creating a sensation of fullness by taking up stomach space, the balloon aids in weight loss.
According to SPER market research, ‘Intragastric Balloon Market Size– By Type, By Filling Material, By Administration, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Intragastric Balloon Market is predicted to reach USD 0.38 billion by 2033 with a CAGR of 17.31%.
The global market for intragastric balloons faces a multitude of possibilities and difficulties. Research and development efforts are increasing, which is driving the intragastric balloon industry and opening up good chances for market expansion. Furthermore, the launch of new products and the opening of new markets support the intragastric balloon market’s favorable prospects and encourage expansion over the course of the projection period. Opportunities also arise from variables including the growing prevalence of obesity, the growing acceptance of weight control, the growing need for non-surgical treatments, and advancements in technology.
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On the other hand, the intragastric balloon market faces a number of obstacles, including limited long-term effectiveness, possible risks and side effects, problems with cost and reimbursement, and competition from surgical alternatives. Businesses will need to carefully handle these uncertainties if they hope to achieve continuous growth and take advantage of the industry’s prospects. Achieving sustained success in the intragastric balloon business will require striking an appropriate balance between tackling obstacles and capitalizing on favorable circumstances.
Impact of COVID-19 on Global Intragastric Balloon Market
Around the world, the intragastric balloon industry has been significantly impacted by the COVID-19 pandemic. Delivery of elective surgery and other non-essential medical services was delayed as a result of the outbreak. Because of this, fewer intragastric balloon treatments were performed during the epidemic. Supply chain delays and logistical problems also affected the manufacture and delivery of intragastric balloons. When things do start to improve, however, the industry is expected to rebound, driven by a renewed focus on weight control and elective therapies. Long-term effects will depend on the effectiveness of containment strategies, vaccination rates, and the capacity of international healthcare systems to recover.
Intragastric Balloon Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; MEDSIL, Obalon Therapeutics, Inc., Apollo Endosurgery, Inc., Allurion Technologies, Inc., Endalis, Helioscopie, Lexel Medical, ReShape Medical, Inc., Spatz3, others.
Global Intragastric Balloon Market Segmentation:
By Type: Based on the Type, Global Intragastric Balloon Market is segmented as; Dual Intragastric Balloons, Single Intragastric Balloons, Triple Intragastric Balloons.
By Administration: Based on the Administration, Global Intragastric Balloon Market is segmented as; Endoscopy, Pill Form.
By Filling Material: Based on the Filling Material, Global Intragastric Balloon Market is segmented as; Gas Filled, Saline Filled.
By End User: Based on the End User, Global Intragastric Balloon Market is segmented as; Ambulatory surgical centers, Clinics, Hospitals.
By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America, Others.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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