PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464618
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1464618
Inflation Devices Market size was valued at USD 750 Million in 2023, expanding at a CAGR of 4.5% from 2024 to 2032.
Inflation devices are specialized medical tools designed to precisely inflate and deflate balloons or similar inflatable devices used in minimally invasive medical procedures like angioplasty, stent placement, and balloon dilation. These devices typically feature a syringe-like mechanism with controls for regulating pressure and volume, ensuring precise and controlled inflation of the balloon. They play a vital role in medical interventions by enabling the expansion of devices within blood vessels or other anatomical structures to achieve desired therapeutic outcomes. Healthcare professionals in fields such as cardiology and interventional radiology rely on inflation devices to treat various cardiovascular and vascular conditions effectively.
Inflation Devices Market- Market Dynamics
Increasing adoption of minimally invasive procedures, coupled with well-established healthcare infrastructure to propel market demand
The market for inflation devices is experiencing growth driven by the increasing adoption of minimally invasive procedures, coupled with well-established healthcare infrastructure in many developed countries, is contributing to market expansion. Additionally, the rising incidence of cardiovascular diseases (CVD), particularly among the geriatric population, is fueling demand for interventions such as angioplasty that utilize inflation devices. As the elderly population grows, especially in low- and middle-income countries, the prevalence of age-related conditions like CVD and urological diseases is expected to rise, further boosting demand for these devices. For instance, according to the WHO's 2022 report on aging and health, the global population aged 60 and above is projected to increase significantly by 2050, with a substantial portion residing in low- and middle-income nations. Given that aging is closely linked to cardiovascular and urological issues, the demand for management devices like angioplasty is expected to rise accordingly. Moreover, data from the European Heart Network indicates a significant burden of cardiovascular diseases in the European Union, with millions of cases diagnosed annually, emphasizing the need for effective disease management methods like those facilitated by inflation devices.
Inflation Devices Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.5% over the forecast period (2024-2032)
Based on Capacity segmentation, 60ml was predicted to show maximum market share in the year 2023
Based on application segmentation, interventional cardiology was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Inflation Devices Market is segmented on the basis of Capacity, Application, Display Type, End user, and Region.
The market is divided into three categories based on Capacity: 20ml, 30ml, and 60ml inflation devices. Based o Capacity in 2023 the 60ml inflation devices segment will lead the market in the coming period. These devices are equipped with quick-latch mechanisms, allowing for one-handed deflation, and are designed for user-friendly operation. Consequently, they have gained traction in pulmonary, gastroenterology, and otolaryngology procedures, where larger balloons and greater amounts of liquid for inflation are typically required.
The market is divided into six categories based on application: interventional cardiology, interventional radiology, peripheral vascular procedures, urological procedures, gastroenterological procedures, and other applications. Among these, the interventional cardiology segment held the largest share of the inflation device market in 2023. The increasing elderly population, more susceptible to developing cardiovascular diseases, is a significant driver for the adoption of interventional cardiology procedures employing inflation devices. Moreover, the proliferation of new multi-specialty hospitals in developing countries offering advanced minimally invasive procedures, coupled with favorable reimbursement policies for angioplasty procedures, is expected to further propel segment growth over the forecast period.
Inflation Devices Market- Volume Data Insights
The market for Inflation Devices is experiencing lucrative growth driven by the increasing prevalence of cardiovascular diseases and subsequent rise in minimally invasive procedures such as balloon angioplasty and stent placement fuel the demand for inflation devices. These devices play a crucial role in inflating and deflating balloons and stents during procedures, ensuring precise deployment and optimal outcomes. Technological advancements in inflation device design and functionality, including the development of digital inflation control systems and ergonomic designs, enhance procedural efficiency and patient safety, further driving market growth. Moreover, the growing geriatric population globally, coupled with the increasing adoption of advanced healthcare technologies, creates a conducive environment for market expansion.
Inflation Devices Market- Geographical Insights
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.
Companies operating in the inflation devices market implement strategic initiatives such as product innovation, market diversification, and strategic partnerships to maintain competitiveness. Continuous research and development efforts aim to enhance inflation device technology, focusing on improving accuracy, reliability, and usability across various medical procedures. Strategic partnerships with medical device manufacturers, healthcare providers, and regulatory bodies facilitate market expansion and access to new customer segments and geographical regions. Moreover, investments in customer education and training programs ensure the proper usage and safety of inflation devices among healthcare professionals. Furthermore, diversification of product offerings to include inflation devices with advanced features and functionalities enables companies to meet evolving customer needs and stay ahead of competitors. By prioritizing innovation, market diversification, and strategic partnerships, companies can strengthen their position in the inflation devices market and capitalize on emerging opportunities in the healthcare industry.
In May 2022, Terumo India entered into a partnership agreement with Argon Medical, expanding its portfolio to encompass end-to-end solutions for interventional radiology, vascular surgery, interventional cardiology, and clinical oncology.
GLOBAL INFLATION DEVICES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Johnson & Johnson Services Inc.
Merit Medical Systems
ARGON MEDICAL
B. Braun SE
Teleflex Incorporated
Terumo Medical Corporation
CONMED Corporation
Medtronic
BD (Becton, Dickinson and Company)
Boston Scientific Corporation
Others