Market Challenges And Opportunities
Intragastric Balloon Market Drivers:
- Rising prevalence of obesity: Obesity has become a global epidemic, with over 650 million adults worldwide being obese as of 2016. The prevalence of obesity has nearly tripled over the past four decades. Obesity increases the risk of various chronic conditions like heart disease, stroke, type 2 diabetes, hypertension, osteoarthritis, and certain cancers. This is driving the demand for effective long-term weight loss solutions like intragastric balloon. The balloons provide a minimally invasive alternative to tackle obesity. Moreover, according to the WHO data published on March 16, 2023, an estimated 1.28 billion adults aged 30-79 years worldwide have hypertension, most (two-thirds) living in low- and middle-income countries. An estimated 46% of adults with hypertension are unaware that they have the condition.
- Technological advancements in balloon design: There have been significant improvements in intragastric balloon design and functionality over the past decade. Newer balloon models like Orbera365 and Spatz3 allow balloons to stay in the stomach for up to 12 months. Features like smooth surface, improved collapsibility, radiopaque markers for imaging, and addition of gauge ports have enhanced safety and outcomes. Companies are also developing ingestible, swallowable balloons like the Elipse balloon by Allurion Technologies, a medical device company. Such technological enhancements are boosting the adoption of gastric balloons.
- Increasing bariatric surgeries: With rising obesity, the number of bariatric procedures like gastric bypass and sleeve gastrectomy has grown significantly worldwide. Intragastric balloons are often used as a bridge to surgery in extremely obese patients to reduce surgery risks and improve outcomes. They help reduce liver volume allowing for easier access during surgery. According to ASMBS, over 200,000 bariatric surgeries were performed in the U.S. in 2017. The balloons provide a reversible, cost-effective option before surgery.
- Favorable reimbursement policies: Expanding insurance coverage for obesity treatment is improving access to weight loss procedures including gastric balloons. In the U.S., intragastric balloon are covered by Medicaid and Medicare in people with severe obesity and comorbidities. Coverage by Aetna, Cigna, and UnitedHealthcare has also increased owing to long-term cost benefits of weight loss. Such favorable reimbursement policies are accelerating the adoption of balloon procedures.
Intragastric Balloon Market Opportunities:
- Huge untapped patient population in developing countries: Developing countries have a high burden of obesity and related disorders. According to the Obesity Society, India and China together have about 415 million obese individuals. But the penetration of weight loss procedures is quite low in these countries. Cost, lack of awareness, and limited healthcare access are the key barriers. Companies have significant opportunities to tap this large untapped patient pool through geographic expansion, partnerships with local providers, awareness programs, and cost-reduction.
- Increasing use of connected health platforms: The integration of connected health technologies like mobile apps, ingestible sensors, wearables, and virtual care with intragastric balloon can transform obesity management. Companies are collaborating to develop supporting digital health platforms. For instance, Allurion’s Virtual Care Suite provides remote monitoring before and after balloon placement. Such tools allow real-time data collection, improve patient engagement, and compliance. Their adoption can improve weight loss outcomes.
- Combination therapies for enhanced results: Combining intragastric balloon with other anti-obesity interventions can lead to greater weight loss. Adding medications, behavioral therapy, physical activity, or diet plans to balloon treatment can improve results. Dual-balloon systems also offer better weight loss than single balloons. Research is ongoing on combining balloons with gastric electrical stimulation, aspiration therapy, etc. Such combination strategies can significantly expand the applicability of gastric balloons.
- Increasing medical tourism for obesity treatment: Rise of medical tourism provides opportunities for weight loss balloon manufacturers. Cost advantage, minimal waiting times, and availability of improved healthcare services are attracting patients from developed countries to travel for the procedure. Companies are expanding their footprint in top medical tourism destinations like India, Mexico, Thailand, and Malaysia. Partnerships with hospitals and surgeons catering to medical tourists will help drive the market growth.
Intragastric Balloon Market Restraints:
- Adverse events and complications: Potential risks like balloon deflation, gastric obstruction, ulcers, nausea/vomiting, and abdominal pain can limit gastric balloon adoption. Serious adverse events like bowel obstruction, perforation, and death have also been reported in small numbers. Strict adherence to placement and removal protocols is required to minimize complications. Lack of long-term safety data also contributes to hesitancy among some patients and providers.
- Lack of awareness in developing regions: In developing countries, awareness about intragastric balloon as a weight loss option remains low among both patients and healthcare providers. Access to information about risks and benefits is not widespread. Concerns about safety, misconceptions about reversibility also exist, limiting uptake. Companies need to undertake extensive educational programs showcasing balloon advantages to aid adoption in developing markets.
- High upfront costs and low insurance coverage: Intragastric balloon treatment, though less expensive than surgery, can still cost between US$ 6,000 to US$ 15,000 out-of-pocket in Western countries. Many insurers still consider the procedure experimental or cosmetic and do not cover it. Lack of reimbursement limits the vast eligible patient population that can benefit. Upfront costs are a key barrier to higher penetration and require addressing.
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