The Global Intragastric Balloon Market size is projected to witness significant progress and earn USD 5.54 billion by 2027 on account of the increasing prevalence of chronic diseases such as diabetes, blood pressure and wounds that results from them such as diabetic foot ulcer and pressure ulcer, among others. Wound care is used for injuries that are unable to heal by themselves. If untreated, they may result in severe consequences such as mobility issues, decreased elasticity of blood vessels, and others. A recent report by Fortune Business Insights offers an elaborative overview of the market. The report is titled, “Intragastric Balloon Market Size, Share & Industry Analysis, By Type, By Material By End User (Hospitals, Clinics, and Others), and Regional Forecast, 2020-2027.”According to this report, the market value stood at USD 3.72 billion in 2019 and is likely to exhibit a CAGR of 6.3% between 2020 to 2027.
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The report is based on the following questions:
• What is the nature of the market?
• Which is the leading segment and who is the leading player of the market?
• How is the prevalence of obesity aiding to the expansion of the market?
• What are the key industry developments of the market?
Drivers & Restraints-
Increasing Prevalence of Obesity to Augment Growth
The World Health Organization estimated more than 1.9 billion people above 18 years all over the world are overweight, and more than 630 million people were obese in 2016. It also states that obesity is one of the major causes of deaths in most countries. Therefore, the increasing prevalence of the bariatric population is a crucial factor propelling the global intragastric balloon market growth. Additionally, currently trending sedentary lifestyle, consumption of unhealthy food and alcohol regularly is also aiding to the expansion of the market.
On the negative side, the market may face rough waters in terms of strict regulations imposed by governments on approval of such medical procedures as it involves various risk factors such as acute pancreatitis, hyperinflation, or even death.
Nevertheless, the rise in awareness and increasing adoption of minimally invasive surgeries are likely to create lucrative growth opportunities for the market for the intragastric balloon in the coming years.
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Companies Investing in Launch of Innovative Products for Attracting Significant Revenues
Most of the companies operating in this market are investing massively on the development and launch of novel products for expanding their product portfolio and obtaining a prominent position in the competition. They are also waiting for FDA approvals for their products. Furthermore, companies are engaging in mergers and acquisitions, contracts and agreements, partnerships, and others to gain momentum in the market competition.
Major Industry Developments of the Market for Intragastric Balloon include:
August 2015 – The U.S. Food and Drug Administration approved the ORBERA intragastric balloon produced by Apollo Endosurgery Inc. to help obese adults. This will also help to expand the product portfolio of the company.
October 2017 – ReShape Medical and EnteroMedica entered into a joint venture, thereby adding the ReShape Weightloss balloon to its product portfolio.
As per Fortune Business Insights™ report, some of the significant players in the market for Intragastric Balloon include:
• EnteroMedics Inc. (ReShape Lifesciences, Inc).
• Apollo Endosurgery, Inc.
• Allurion Technologies Inc.
• LEXEL S.R.L.
• Districlass Médical
• Helioscopie Medical Implants
• Other players
Please read the originial post here: https://www.fortunebusinessinsights.com/intragastric-balloon-market-102052