PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392020
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392020
The inflation devices market size is expected to reach US$ 7.96 million by 2030, from US$ 4.64 million in 2023, at a CAGR of 8% during the forecast period.
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2022 | Market Size in 2023: | US$ 4.64 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 8.00% | 2030 Value Projection: | US$ 7.96 Mn |
The inflation devices market is a rapidly growing sector in the healthcare industry, driven by the increasing prevalence of cardiovascular diseases and the rising demand for minimally invasive procedures. Inflation devices are used in various medical procedures, such as angioplasty, stent placement, and balloon catheterization, to inflate and deflate balloons. These devices play a crucial role in ensuring the success of these procedures by providing accurate pressure control and precise inflation.
The global inflation devices market is expected to witness significant growth during the forecast period (2023-2030). The inflation devices market is a significant segment of the medical devices industry, primarily used in interventional procedures such as angioplasty and stenting. These devices are designed to inflate and deflate balloons within catheters and stents to open up blocked arteries and restore blood flow. The global inflation devices market is witnessing substantial growth due to several factors. The increasing prevalence of cardiovascular diseases, coupled with the growing geriatric population, is a major driver for the market. As per the World Health Organization, cardiovascular diseases are the leading cause of death globally, which has led to a surge in demand for minimally invasive procedures like angioplasty, thereby boosting the market for inflation devices. Technological advancements are another key factor propelling the market growth.
Modern inflation devices come with features like digital displays, pressure relief valves, and ergonomic designs, enhancing their efficiency and ease of use. However, the market also faces certain challenges. The high cost of these devices and the risk of complications associated with their use may hinder market growth. Moreover, the lack of skilled professionals in developing regions can also pose a challenge. Key players in the inflation devices market include Medtronic, Boston Scientific Corporation, Becton, Dickinson and Company, among others. These companies are focusing on R&D activities, mergers, acquisitions, and collaborations to strengthen their market position. The future of the inflation devices market looks promising with the development of more advanced and user-friendly devices, and the increasing adoption of minimally invasive procedures worldwide.