Inflation Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.70 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Inflation Devices Market Analysis
The inflation devices market is expected to register a CAGR of 4.7% over the forecast period.
In many ways, COVID-19 has influenced the demand for medical equipment. While there was an increase in demand for the devices used to treat COVID-19 patients in intensive care, other devices suffered due to postponed or canceled treatments. However, there are few instances of individuals infected with COVID-19 being at increased risk of cardiovascular disease. According to the study report published by Nature Medicine in February 2022, in survivors with acute COVID-19, there is a significant risk of cardiovascular disease and a one-year burden. Hence to manage cardiovascular diseases like coronary artery disease, angioplasty should be used, which needs inflation devices. Thus the market is expected to have a positive impact during the post-COVID-19 period and in the coming years.
The inflation devices market is growing due to certain factors, such as the increased incidences of urological diseases and cardiovascular diseases in the geriatric population and a rise in the demand for minimally invasive procedures and medical reimbursement for minimally invasive procedures in developed regions.
- According to the WHO facts of aging and health 2022, people over 60 years in the world will increase from 12% to 22% between 2015 and 2050. 糖心vlog传媒 80% of senior citizens will reside in low- and middle-income nations by 2050. Aging is a critical factor that influences cardiovascular and urological diseases. Hence, the demand for management devices like angioplasty for those diseases increases with the growing aging population. Furthermore, according to the data published by the European Heart network 2021, more than 60 million people in the European Union have cardiovascular illnesses. Every year, over 13 million new cases are identified. Thus, the increased incidences of cardiovascular diseases and the senior population increase the disease management methods and drive the market's growth over the forecast period.
- However, the high cost and complications associated with procedures, such as the risk of infection and bleeding, are expected to hamper the market growth.
Inflation Devices Market Trends
This section covers the major market trends shaping the Inflation Devices Market according to our research experts:
Analog Display Inflation Devices Segment is Expected to Hold a Significant Share in the Market
An analog display inflation device is used to inflate/ deflate a balloon during the angioplasty procedure and has a precise analog-type pressure control gauge. The analog display inflation devices segment is expected to account for a more significant share of the inflation devices market. This segment's dominance in this segment's revenue share is due to the low cost and portability of analog inflation devices. Also, an increase in the adoption of analog inflation devices by patients compared to that of digital inflation devices due to less cost fuel the market's growth.
Along with the advantages of the analog display, the other driving factors, like the growing prevalence of cardiovascular diseases, the rising geriatric population, and the rising preference for minimally invasive surgeries, are expected to fuel the demand for the segment and help propel the market. According to the Australian Institute of Health and Welfare 2022, based on self-reported data from the Australian Bureau of Statistics 2020-21 NHS, an estimated 571,000 Australians aged 18 and over (2.9% of the adult population) had chronic cardiac illnesses in 2020-2021. Additionally, more cardiology intervention operations are being performed due to the high prevalence of coronary artery disease in the area, which is anticipated to support market growth in the study.
An analog display inflation device is a gold standard for interventional balloon inflation. Most busy interventional labs can rely on the analog display inflation device for their procedures. Hence the advantages and rising prevalence of chronic heart diseases are expected to occupy a significant market share in the studied market over the forecast period.
North America is Expected to have a Significant Share in the Market over the Forecast Period
North America is anticipated to account for a significant share of the inflation devices market. The high prevalence of disorders needing interventional procedures, increased knowledge of minimally invasive techniques, and expanding use of minimally invasive devices in the area are all contributing factors. For instance, according to CDC 2022, one in every four deaths in the United States is caused by heart disease, which affects roughly 659,000 people annually, resulting in higher demand for angioplasty procedures. This drives the inflation devices market in the region.
Similarly, per the data published by the Heart and Stroke Foundation of Canada, in February 2022, 750,000 heart failure sufferers in Canada and 100,000 new cases of this fatal disease are reported each year. Hence minimal surgical interventions like angioplasty can help rule out a cardiovascular risk. Thus the significant prevalence of heart diseases can drive the market in the region.
Furthermore, the major players in the market are collaborating to develop vascular access products that help the market grow. For instance, in August 2022, Teleflex Incorporated was awarded a contract to supply Central Venous Access products from Vizient, Inc., the nation's largest member-driven healthcare performance improvement company. These contracts can help the companies to access the blood vessels through surgical interventions like angioplasty and allow the market to grow over the forecast period.
Therefore, owing to the abovementioned factors, North America is expected to hold a significant market share.
Inflation Devices Industry Overview
The inflation devices market is moderately competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some prominent players are vigorously acquiring other companies to consolidate their market positions across the globe and while others are distributing products. Some of the major players in the market are Johnson & Johnson Services Inc., Merit Medical Systems, ARGON MEDICAL, B. Braun SE, Teleflex Incorporated, Terumo Medical Corporation, CONMED Corporation, Medtronic, BD, and Boston Scientific Corporation.
Inflation Devices Market Leaders
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Teleflex Incorporated
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Merit Medical Systems
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Johnson & Johnson Services, Inc
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ARGON MEDICAL
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B. Braun SE
*Disclaimer: Major Players sorted in no particular order
Inflation Devices Market News
- May 2022: Terumo India signed a partnership agreement with Argon Medical. The agreement expands the portfolio to include end-to-end solutions for interventional radiology, vascular surgery, interventional cardiology, and clinical oncology.
- April 2022: Medtronic Vascular received 510(k) premarket approval for its Everest 20 Inflation and Everest 30 Inflation Device/Survival Kit from the United States FDA. Everest Inflation Device/Survival Kit is to be used to facilitate the use of catheters and guidewires during interventional procedures.
Inflation Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increased Incidences of Urological Diseases and Cardiovascular Diseases in Geriatric Population
4.2.2 Rise in the Demand for Minimal Invasive Procedures and Medical Reimbursements in Developed Regions
4.3 Market Restraints
4.3.1 High Cost of Procedures
4.3.2 Complications Associated in Procedures such as Risk of Infection and Bleeding
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Display Type
5.1.1 Analog Display
5.1.2 Digital Display
5.2 By Application
5.2.1 Interventional Cardiology
5.2.2 Interventional Radiology
5.2.3 Peripheral Vascular Procedures
5.2.4 Gastroenterology Procedures
5.2.5 Urology Procedures
5.2.6 Other Applications
5.3 By End User
5.3.1 Hospitals and Clinics
5.3.2 Ambulatory Surgical Center
5.3.3 Other End Users
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Johnson & Johnson Services Inc.
6.1.2 Merit Medical Systems
6.1.3 ARGON MEDICAL
6.1.4 B. Braun SE
6.1.5 Teleflex Incorporated
6.1.6 Terumo Medical Corporation
6.1.7 CONMED Corporation
6.1.8 Medtronic
6.1.9 BD (Becton, Dickinson and Company)
6.1.10 Boston Scientific Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Inflation Devices Industry Segmentation
As per the scope of the report, an inflation device is a sterile device designed to inflate and regulate the pressure of a balloon dilatation catheter manually by injecting and aspirating fluid or air within the balloon and deflating the balloon during medical procedures like angioplasty.
The inflation devices market is segmented by display type (analog display and digital display), application (interventional cardiology, interventional radiology, peripheral vascular procedures, gastroenterology procedures, urology procedures, and other applications), end user (hospitals and clinics, ambulatory surgical center, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions globally and offers the value (in USD million) for the above segments.
| By Display Type | |
| Analog Display | |
| Digital Display |
| By Application | |
| Interventional Cardiology | |
| Interventional Radiology | |
| Peripheral Vascular Procedures | |
| Gastroenterology Procedures | |
| Urology Procedures | |
| Other Applications |
| By End User | |
| Hospitals and Clinics | |
| Ambulatory Surgical Center | |
| Other End Users |
| By Geography | ||||||||
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Inflation Devices Market Research FAQs
What is the current Inflation Devices Market size?
The Inflation Devices Market is projected to register a CAGR of 4.70% during the forecast period (2024-2029)
Who are the key players in Inflation Devices Market?
Teleflex Incorporated, Merit Medical Systems, Johnson & Johnson Services, Inc, ARGON MEDICAL and B. Braun SE are the major companies operating in the Inflation Devices Market.
Which is the fastest growing region in Inflation Devices Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Inflation Devices Market?
In 2024, the North America accounts for the largest market share in Inflation Devices Market.
What years does this Inflation Devices Market cover?
The report covers the Inflation Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Inflation Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Inflation Devices Industry Report
Statistics for the 2024 Inflation Devices market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Inflation Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
