According to WHO Global Health Observatory data, 2014 more than 1.9Bn people worldwide and nearly one-quarter of children, adolescents in developed countries are overweight or obese. At least 2.8Mn people each year die as result of overweight or obese and half of the world’s population may be subjected to obesity by 2030. Moreover, increase in the awareness about the consequences related to obesity and chances of getting the other chronic diseases, patients are preferring to lose weight. Apart from fore mentioned factors, advances in gastric balloon technology led to more safe and cost effective procedure over the surgical procedures. Along with this, short hospital stay, reducing recovery time, expected to prompt healthcare professionals to choose the gastric balloon systems over other bariatric procedures. However the adverse events associated with gastric balloon systems such as inflation of balloon, pain, swelling, vomiting, and chances of getting acute pancreatitis are becoming as restrains for gastric balloon system market.
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Gastric balloon system market is segmented based upon product, mode of administration, filling material and end user.
Based on product, gastric balloon system market is segmented into
Single Intra Gastric Balloon
Double Intra Gastric Balloon
Triple Intra Gastric Balloon
Based on filling material, gastric balloon system market is segmented into
Based on route of administration, gastric balloon system market is segmented into
Based on end user, gastric balloon system market is segmented into
Ambulatory Surgical Centers
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Gastric balloon system is in growth phase, fluid filled gastric balloon products are having prevalent adverse events when compared to the gas filled products. In February 2017, U.S. FDA alerted healthcare providers stating about the high prevalence of adverse events with the usage of fluid filled gastric balloons. Due to the advancements in technology like development of swallowable capsules forms by Obalon technologies (obalon) and Allurion (elipse), and reducing the risks in using gastric balloon systems are increasing the acceptance of gastric balloon system products by patients. These factors are expected to bolster revenue growth of gastric balloon system market.
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Geographically market has been segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Among all the regions North America accounts larger share due to more number of obese patients. According to Centers for Disease Control and Prevention (CDC), more than 36% of the US adult population is obese. In Europe increasing prevalence of the obesity and rising demand for weight loss products driving the market revenue growth. Gastric balloon system market in Latin America is growing at significant CAGR due to rapid increase in healthcare expenditure and increase in number of doctors. In Asia-Pacific region because of rise in the medical tourism, lower cost of healthcare, and rise in development of healthcare infrastructure in developing countries like India projects the better growth opportunity for Gastric balloon system market players.
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Some of the players in global gastric balloon system market are Allurion Technologies (U.S.), Silimed inc. (Brazil), Obalon Therapeutics Inc. (U.S.), Districlass Medical (S.A.) (France), and ReShape Medical Inc. (U.S.) to name a few.