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. Inflation devices are used to inflate and deflate balloon catheters during angioplasty procedures to treat blocked arteries. The advantages of these devices include precise inflation control and enhanced patient safety. The inflation devices market is segmented by type, capacity, application, end-user and region. By type, the digital display segment is expected to dominate the market owing to benefits like automatic pressure sensing and control
Inflation Devices Market Regional Insights
- North America is expected to be the largest market for inflation devices market during the forecast period, accounting for over 35.2% of the market share in 2023. The growth of the market in North America is attributed to the presence of key players and the increasing prevalence of cardiovascular diseases in the region.
- The Europe market is expected to be the second-largest market for inflation devices market, accounting for over 28.7% of the market share in 2023. The growth of the market in Europe is attributed to the rising geriatric population and favorable reimbursement policies.
- The Asia Pacific market is expected to be the fastest-growing market for inflation devices market, with a CAGR of over 23.5% during the forecast period. The growth of the market in Asia Pacific is attributed to improving healthcare infrastructure and increasing healthcare expenditure in the region.
Figure 1. Inflation Devices Market Share (%), by Region, 2023
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Analyst View
The global inflation devices market is expected to witness steady growth over the forecast period, driven by the increasing demand for minimally invasive surgeries worldwide. The rising prevalence of gastrointestinal diseases and cardiology diseases and the growing geriatric population are fueling the need for efficient inflation devices. Developing healthcare infrastructure in emerging nations and rising medical tourism are creating new avenues for market players. However, the availability of alternative treatment methods for diseases may hamper the demand for inflation devices to some extent.
Inflation Devices Market Drivers
- Increasing prevalence of cardiovascular diseases: The rising prevalence of cardiovascular diseases such as coronary artery disease and heart failure is driving the demand for angioplasty procedures, which is subsequently fueling the growth of the inflation devices market. According to the World Health Organization (WHO), in June 2021, cardiovascular disease is the number one cause of death globally, responsible for over 17 million deaths per year.
- Favorable reimbursement scenario: The availability of reimbursement for angioplasty procedures is increasing the adoption of inflation devices. Public and private insurance providers are increasingly covering expenses related to cardiovascular treatments due to the risks associated with heart diseases.
- Rising minimally invasive surgeries: The shift from traditional open surgeries toward minimally invasive procedures is boosting the adoption of inflation devices used in balloon-based surgeries such as angioplasty. Minimally invasive surgeries reduce hospital stays and costs.
- Increasing healthcare expenditure: The growing healthcare spending by governments and individuals globally is leading to higher adoption of advanced cardiovascular devices and treatments, thereby driving the inflation devices market. According to Centers for Medicare & Medicaid Services, healthcare spending in the U.S. is estimated to reach US$6.2 trillion by 2028.
Inflation Devices Market Opportunities
- Growth prospects in emerging economies: The rising prevalence of cardiovascular diseases, along with improving healthcare infrastructure in developing nations such as India, China, Brazil, etc., is expected to create significant opportunities for inflation device manufacturers. A favorable regulatory scenario is also attracting key players to emerging markets.
- Development of smart inflation devices: Integration of technologies such as IoT, artificial intelligence, and machine learning into inflation devices can help improve patient monitoring and enable data-driven, precise inflation control. Companies are working on developing connected, smart inflation devices.
- Increasing adoption of disposable devices: The growing trend of using disposable devices to reduce cross-contamination risks presents lucrative opportunities for market players. Disposable inflation devices eliminate maintenance and sterilization costs.
- Expansion of application areas: The widening clinical applications of inflation devices in procedures such as balloon sinuplasty, airway dilation, balloon gastrointestinal procedures, etc. is creating new avenues for market growth.
Inflation Devices Market Report Coverage
| Report Coverage |
Details |
|---|
| Base Year: |
2022 |
Market Size in 2023: |
US$ 4.64 Mn |
|---|
| Historical Data for: |
2018 to 2022 |
Forecast Period: |
2023 - 2030 |
|---|
| Forecast Period 2023 to 2030 CAGR: |
8% |
2030 Value Projection: |
US$ 7.96 Mn |
|---|
| Geographies covered: |
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
|
| Segments covered: |
- By Type: Digital Display and Analog Display
- By Capacity: 20 ml, 30 ml and 60 ml
- By Application: Gastroenterological Procedures, Urological Procedures, Intervention Cardiology & Radiology and Peripheral Vascular Procedures
- By End User: Hospitals, Clinics and Ambulatory Surgery Centers
|
| Companies covered: |
Medtronic, Boston Scientific Corporation, Abbott, Teleflex Incorporated, Convatec Inc., Smiths Group plc, Cook, B. Braun SE, Cardinal Health and Stryker
|
| Growth Drivers: |
- Increasing prevalence of cardiovascular diseases
- Favorable reimbursement scenario
- Rising minimally invasive surgeries
- Increasing healthcare expenditure
|
| Restraints & Challenges: |
- High cost of advanced inflation devices
- Lack of trained professionals
- Stringent regulatory policies
|
Inflation Devices Market Trends
- Shift toward digital inflation technologies: Manufacturers are increasingly developing digital inflation devices integrated with electronic pressure sensors, LCD displays, and intuitive user controls. Digital interfaces allow improved visibility, accuracy, and control over inflation.
- Focus on patient safety and comfort: Key market trends include the incorporation of safety mechanisms such as pressure relief valves, ergonomic lightweight handles, and mechanisms to reduce balloon deflation time. Companies are designing patient-friendly inflation devices.
- Development of intuitive handheld devices: Trending product innovations include compact, lightweight handheld inflation devices with advanced digital interfaces, making them easier to handle and transport. Intuitive display and control panels improve usability.
Inflation Devices Market Restraints
- High cost of advanced inflation devices: The high cost of technologically advanced digital inflation devices, coupled with low awareness in developing regions, is restraining market growth to some extent. The complex integration process is an obstacle.
- Lack of trained professionals: The shortage of skilled cardiologists and technicians, especially in emerging economies, is hampering the adoption of inflation devices. Proper training is required to operate inflation devices efficiently.
- Stringent regulatory policies: The stringent approval and certification processes mandated by regulatory bodies like U.S. FDA and CE are challenging for manufacturers. Delayed approvals can restrain market growth.
Figure 2. Global Inflation Devices Market Share (%), By Type, 2023
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Recent Developments
New Product Launches
- On June 6, 2023, SYNDEO Medical, a division of MDev BV, a global leader in the design and development of fully integrated custom procedural solution products, is pleased to introduce the SATURN Inflation Device. This innovative platform offers interventional physicians worldwide a new level of innovation, versatility, and choice. By seamlessly integrating into SYNDEOPack intervention packages, the SATURN Inflation Device provides healthcare professionals with a comprehensive solution that combines the benefits of both products on a single platform.
- In November 2022, Merit Medical Systems, Inc. announced the commercial launch of the basixALPHA Inflation Device in the U.S. The basixALPHA is the latest addition to the Merit portfolio of inflation devices. Products include low- and high-pressure capacity analog and digital devices for inflating, deflating, and measuring pressures in angioplasty balloons.
Acquisitions and Partnerships
In May 2022, Terumo India, a medical device manufacturer, signed a partnership agreement with Argon Medical, manufacturer of specialty medical products. The agreement expands the portfolio to include end-to-end solutions for interventional radiology, vascular surgery, interventional cardiology, and clinical oncology.
Top companies in Inflation Devices Market
- Medtronic
- Boston Scientific Corporation
- Abbott
- Teleflex Incorporated
- Convatec Inc.
- Smiths Group plc
- Cook
- B. Braun SE
- Cardinal Health
- Stryker
*Definition: The inflation devices market refers to the global market for medical devices used to inflate and deflate balloon catheters during various minimally invasive surgical procedures and examinations. Inflation devices allow controlled and safe inflation and deflation of angioplasty and other balloons during cardiovascular interventions as well as balloons used for gastrointestinal, urological, gynecological, and ear-nose-throat procedures. They are an indispensable part of balloon dilatation procedures. The most common types of inflation devices include syringes, pumps, bags, and automated inflation systems. Key end-users are hospitals, ambulatory surgery centers, and diagnostic imaging centers.
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