PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419069
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419069
Balloon Inflation Devices Market size was valued at USD 571.45 Million in 2022, expanding at a CAGR of 5.9% from 2023 to 2030.
When angioplasty devices need to be dilated, an inflating device is utilized. It has an incredibly ergonomic handle, a glowing analogue pressure gauge, and braided high pressure tubing with a spinning male luer fitting. A high-pressure syringe barrel with an ergonomic piston handle and a gauge to track balloon catheter inflation and deflation make up the balloon inflation equipment.
The main drivers of market growth are the expanding use of minimally invasive treatments, the rising incidence of cardiovascular diseases (CVDs) in all economies, and the integration of cutting-edge technologies into the healthcare system. Furthermore, the aging population increases the risk of coronary artery disease, which drives up demand for balloon inflation devices because these tools are essential for interventional cardiology procedures. Regarding coronary artery disease, the National Institute of Health estimates that 18.2 million Americans are affected.
The use of balloon inflating devices is aided by interventional techniques such as angioplasty and stent implantation for the treatment of coronary artery disease, peripheral artery disease, and valvular heart disease. John Hopkins Medicine estimates that 850,000 angioplasties are done in the United States each year. However, an estimated 600,000 coronary stents are implanted for percutaneous coronary procedures each year in the United States, according to American Heart Association Inc.
The Global Balloon Inflation Devices Market is segmented on the basis of Display Type, Application, End-User, and Region.
The market is divided into two categories based on Display Type: analog display, and digital displays. The analog displays segment dominates the market. The high preference amongst healthcare providers is boosting segment growth.
The market is divided into six categories based on Application: interventional cardiology, interventional radiology, peripheral vascular procedures, gastroenterology procedures, urology procedures, and others. The interventional cardiology segment dominates the market and is likely to maintain its dominance during the forecast period. The high use of angioplasty procedures and stent placement is majorly boosting the market growth.
The market is divided into three categories based on End-User: hospitals, clinics, ambulatory surgical centers. The hospitals segment dominates the market and is likely to maintain its dominance during the forecast period. Hospitals and clinics are equipped with advanced infrastructure which is increasing the demand for product.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Balloon Inflation Devices market is moderately fragmented in nature. Market players are focusing on new product development and innovation to remain competent in the global market. Companies in the market are bringing out cutting-edge goods at reasonable costs to capture more market share. To increase their market domination, major businesses are putting strategic efforts like mergers, acquisitions, and partnerships into action.
In June 2023, SYNDEO Medical introduced the SATURN inflation device, which allows medical professionals to combine the benefits of different products in a singular platform.
The scope of this report covers the market by its major segments, which include as follows: