A recent report published by Infinium Global Research on gastric balloons and bands market provides an in-depth analysis of segments and sub-segments in the global as well as regional gastric balloons and bands market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional gastric balloons and bands market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global gastric balloons and bands market. According to the report, the global gastric balloons and bands market is projected to grow at a CAGR of 10% over the forecast period of 2021-2027, growing from nearly USD 38.3 million in 2021 to about USD 75 million in 2027.
Bariatric surgeries are carried out to reduce weight in patients suffering from obesity. Bariatric surgery involves alteration in the gastrointestinal tract, which helps in restricting the quantity of food that the stomach can intake or restricting the nutrients that are absorbed in the intestinal tract. The devices such as bariatric stapling devices, gastric balloons and bands, and gastric bands are used in bariatric surgery. The gastric balloon and band are most widely used for bariatric procedures due to their lower risk profile compared to other devices. Gastric balloons and bands are the non-surgical endoscopic devices used for bariatric procedures. Saline or gas-filled balloon and band is inserting into the stomach that suppresses the appetite and drastically reduces food intake. Gastric balloon and band procedures are suitable for pediatric, and geriatric patients, as it involves low risks associated with invasive surgeries.
Obesity treatment such as bariatric surgeries and medication has been hugely affected by the pandemic. Obesity treatments aren’t considered an emergency, as obesity is a chronic disease, whose adverse health effects often accumulate slowly and insidiously. Thus, the number of bariatric surgeries fell during the period of pandemics. This, in turn, decreased the demand for bariatric surgery devices during the pandemic. The supply of medical devices and equipment used for bariatric surgeries is hampered during the pandemic. Moreover, the production of bariatric surgery devices has been also affected due to the pandemic. A number of components used in the bariatric surgery devices are sourced from countries including China, Indonesia, Taiwan, Thailand, and Vietnam. Due to the disrupted supply chain coupled with lockdowns in these countries, the supply of medical device components declined over the period of the pandemic. Thus, the lower supply of raw materials and end-use products during the pandemic era hampered market growth.
The growing cases of obesity across developed and developing countries are majorly driving the growth of the gastric balloon and band market. Obesity is one of the major public health problems faced in the world today. Compared to undernutrition, adult obesity is more common across the world. Moreover, overweight and obesity lead to several serious health conditions including cardiovascular diseases, diabetes, musculoskeletal disorders, and different types of cancers. Thus, many physicians advise patients that are overweight and obese to lose weight. Gastric balloon and band procedure is a suitable treatment for obese adults, who are cannot undergo invasive bariatric procedures due to other health conditions. This, in turn, drives the demand for gastric balloons and bands in the market. Furthermore, the recommendation for gastric balloon and band procedure by health organizations is further augmenting the market growth. However, the high cost associated with gastric balloon and band majorly restrain the growth of the market. Moreover, technological advancements in the devices and procedures are anticipated to boost the market over the forecast period.
The North America region dominates the global gastric balloon and band market owing to an increase in the number of obese people. A sedentary lifestyle that is full of unhealthy eating habits is the major cause of growing obesity in North America. Furthermore, Europe is expected to hold a significant share in the global gastric balloon and band market due to the growing emphasis on self-care and the rise in the geriatric population across the region. The gastric balloon and band market in the Asia Pacific region is projected to register the fastest growth rate owing to the improving healthcare infrastructure and growing adoption of healthcare services. South America and Middle East & Africa are likely to expand at a healthy pace over the forecast period due to the increasing focus on technological advancements in the diagnosis and treatment process.
The report on the global gastric balloons and bands market covers segments such as gastric balloon type, filling material, band port type, and end user. On the basis of gastric balloon type, the sub-markets include single gastric balloons, dual gastric balloons, and triple gastric balloons. On the basis of filling material, the sub-markets include saline filled, and gas filled. On the basis of band port type, the sub-markets include self-adhesive, and sutured. On the basis of end user, the sub-markets include hospitals, clinics, ambulatory surgical centers, and others.
The report provides profiles of the companies in the market such as Allurion Technologies Inc., Apollo Endosurgery, Inc., Districlass Medical SA, Endalis, Helioscopie Medical Implants, Lexel SRL, Medispar CVBA, Obalon Therapeutics Inc., ReShape Medical Inc., and Spatz Cosmeceutical Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of gastric balloons and bands market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.