Inflation Devices Market
Inflation Devices Market Analysis, By Display Type (Analog, Digital), By Capacity (20 ml, 30 ml, 60 ml), By Application (Interventional Cardiology, Interventional Radiology, Gastroenterology Procedures), By End User (Hospitals, Clinics, Others) - Global Market Insights 2022 to 2030
Analysis of Inflation Devices market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Inflation Devices Market Outlook (2022-2030)
As of 2022, sales revenue from the global inflation devices market is valued at US$ 630.5 million and is projected to surpass US$ 1 billion by the end of 2030. Over the next eight years, the market is gauged to amplify at a CAGR of 6%.
Growing geriatric population, increasing focus on healthcare, rising alcohol and tobacco consumption, technological advancements in inflation equipment, rising healthcare expenditure across the world, and increasing investments in research and development are key factors that are anticipated to drive inflation device sales going forward.
- The World Health Organization (WHO) states that by 2030, 1 in 6 people in the world will be aged 60 or over and this number is expected to double by the end of 2050. In 2020, people over the age of 60 were around 1 billion, and are expected to be 1.4 billion by the end of 2030.
Escalating demand for minimally invasive procedures is anticipated to be of paramount importance to new as well as established inflation device manufacturers across the forecast period. Heightened incidence of cardiovascular and coronary artery diseases is also expected to contribute to the expansion of the market in the future.
- As per statistics provided by the World Health Organization (WHO), around 17.9 million people deaths were recorded that were caused due to cardiovascular diseases and this amounted to around 32% of the global death toll in 2019. Around 85% of these deaths were due to stroke and heart attack.
On the flip side, the availability of alternative inflation systems and the high costs of cardiac procedures are two prime determinants that are expected to preclude the demand growth for inflation devices in the subsequent years.
Key players in the inflation devices market are estimated to increase investments in the research and development of novel products to increase their revenue generation capacity in the forthcoming years. Product innovation is expected to be a prime focus owing to the growing incidence of product recalls by major market players, which has been discussed in detail in the following content. Stringent regulatory standards for the approval of medical inflation devices in several markets are expected to be a major challenge for suppliers and vendors of medical inflation devices in the near future.
Increasing investments in healthcare infrastructure development in emerging economies such as India, China, Brazil, and Indonesia are expected to provide highly attractive growth opportunities for inflation device suppliers over the coming years.
Rising geriatric population in China and the high prevalence of cardiovascular disorders in the country are expected to promulgate demand for inflation devices at an impressive 9.7% CAGR through 2030 in the country.
This latest inflation devices market study by skilled analysts at Fact.MR, a market research and competitive intelligence provider, has a detailed analysis of all factors affecting market evolution on a global scale, along with a comprehensive region- and country-wise analysis as well.
Report Attributes |
Details |
---|---|
Inflation Devices Market Size (2022) |
US$ 630.5 Million |
Projected Market Value (2030F) |
US$ 1.01 Billion |
Global Market Growth Rate (2022-2030) |
6% CAGR |
United States Market Value (2022) |
US$ 195 Million |
20 ml Segment Growth Rate (2022-2030) |
5.6% CAGR |
China Market Value (2030F) |
US$ 200 Million |
Latin America Market Growth Rate (2022-2030) |
7.5% CAGR |
Key Companies Profiled |
|
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What is the Prime Driver for the Inflation Devices Industry?
“Rising Preference for Minimally Invasive Surgeries”
Minimally invasive procedures have gained impetus in recent years owing to less recovery time, faster healing, and low costs as compared to conventional surgical procedures. As more people veer towards these minimally invasive surgeries, it is expected to favor demand for equipment that is required to successfully perform a minimally invasive procedure.
Inflation devices play a crucial role in minimally invasive cardiac procedures and hence growing popularity of minimally invasive procedures is slated to benefit market evolution in the future.
What Factors Occlude Sales of Inflation Devices?
“Product Recalls & High Costs of Cardiac Procedures”
Inflation devices are mostly used in cardiology procedures and the high costs of these cardiac procedures are anticipated to have a hindering effect on the overall market potential over the coming years. Product recalls are also expected to prove to be a major constraint for shipments of inflation devices through 2030.
- In June 2022, Atrium Medical Corp., a subsidiary of Getinge, a global medical technology company announced the recall of its iCast Covered Stent System. The recall was triggered owing to issues regarding the quick deflation of balloons in endovascular use.
- In August 2019, Edwards Lifesciences, an American medtech company announced the recall of its Sapien 3 Ultra delivery systems. The recall was a result of several reports where the balloons burst during implantation procedures and increased the risk of bleeding, vascular injuries, etc.
Such product recalls are expected to push balloon inflation device manufacturers to create more accurate and safe devices in the future to avoid monetary and reputational damages.
What Could Birth New Opportunities in the Inflation Devices Market?
“Innovation Could Provide Good Chance for Start-ups to Make a Mark in the Global Inflation Devices Industry”
New companies can focus on the development of novel products to create a distinguished name for themselves in the industry. Growing advancements in medical technology are also expected to provide new opportunities for upcoming companies.
- In June 2021, Neurescue, an innovative medical device company based in Denmark received a 510(k) clearance from the U.S. FDA to market NEURESCUE® device for hemorrhage control and Investigational Device Exemption (IDE) approval to start a clinical trial for a novel cardiac arrest treatment.
- In July 2020, researchers at the Harvard John A. Paulson School of Engineering and Applied Sciences (SEAS) designed materials that can mold and control balloons in pre-programmed shapes by the use of kirigami sheets. This new development had the potential to change the future of medical balloon inflation devices.
Such innovative developments could inspire start-ups and new entrants to create novel products and establish their name in the global industry going forward.
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Country-wise Insights
Why is the U.S. an Inviting Market for Inflation Device Companies?
“High Incidence of Cardiovascular Disorders & Growing Senescent Population”
The United States inflation devices market is anticipated to provide highly attractive business propositions over the coming years owing to the growing prevalence of cardiovascular disorders, rising aging population, frequent launches of new Medical balloon inflation devices, and the presence of favorable reimbursement policies in the country.
- As per data published on the Centers for Diseases Control and Prevention (CDC) website, heart disease is the leading cause of death for men and women in the United States and one person every 34 seconds dies from cardiovascular disease. In 2020, around 697,000 people died from heart disease.
The presence of key medical device manufacturers and developed healthcare infrastructure are also expected to uplift market growth in the United States throughout the forecast period. Inflation devices for angioplasty are expected to witness high sales over the coming years and this can be ascribed to the high demand for angioplasty procedures in the U.S. through 2030. Sales of inflation devices are estimated to rake in a valuation of US$ 195 million in the United States in 2022.
What Makes Japan a Lucrative Market for Inflation Device Manufacturers?
“Presence of Large Geriatric Population in Japan”
Japan is known to have a large aging population which is expected to increase further in the coming years and this is the prime driver that makes it a rewarding market for inflation devices. The senescent population is more at risk of contracting cardiac disorders and this is expected to drive sales of medical inflation devices in this country over the next eight years. The country is also expected to provide attractive opportunities for the hyperinflation devices market.
Category-wise Insights
Which Display Type is Preferred for Inflation Systems?
“Inexpensive Nature & Ease of Use Make Analog Display Inflation Devices Popular”
The global market for inflation devices, based on display type, is segmented into analog and digital.
Demand for analog display inflation devices currently accounts for a dominant market share and is expected to maintain a similar stance throughout the forecast period. The affordable nature of analog display devices is expected to be a key factor governing their popularity. Ease of use and high availability in all regions are other factors that are expected to supplement the demand for analog display devices in the future.
However, technological advancements in the medical device industry are expected to bolster sales of digital display inflation devices over the next eight years.
What Capacity of Inflation Devices is Slated to Spearhead Revenue Generation?
“60 ml Inflation Devices to Remain Popular Going Ahead”
The global inflation devices market, based on capacity, is segmented into 20 ml, 30 ml, and 60 ml.
Sales of 60 ml capacity devices are anticipated to dominate the global inflation devices industry landscape and rise at the fastest CAGR of all other segments through 2030. Ease of use and quick-latch mechanisms in 60 ml inflation devices make them a popular choice in the global medical industry. High adoption in otolaryngology procedures, pulmonary procedures, and gastroenterology procedures is also expected to favor demand for 60 ml devices. Shipments of 60 ml capacity devices are anticipated to rise at a CAGR of 6.6% over the next eight years.
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Competitive Landscape
Inflation device suppliers are focusing on product innovation and new launches to gain a competitive edge over other market players. Companies are also pushing for approvals of their novel products to fast-track launches and increase their sales potential.
Key Segments in Inflation Devices Industry Research
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By Display Type:
- Analog Display
- Digital Display
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By Application:
- Interventional Cardiology
- Interventional Radiology
- Peripheral Vascular Procedures
- Gastroenterology Procedures
- Urology Procedures
- Other Applications
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By Capacity:
- 20 ml
- 30 ml
- 60 ml
-
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
-
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
- FAQs -
What is the current sales revenue of the inflation devices market?
At present, the global inflation devices market accounts for US$ 630.5 million.
How big will the inflation devices market be by 2030?
By 2030-end, inflation device sales are set to be valued at US$ 1.01 billion.
At what pace will demand for inflation devices progress?
The global inflation devices market is estimated to progress at 6% CAGR over the next eight years.
What are the major revenue pockets in the inflation devices market currently?
The North American market is a major revenue pocket at present owing to the presence of favourable reimbursement policies, growing aging population, and high prevalence of cardiovascular diseases.
Which top inflation device manufacturers are profiled in this Fact.MR survey?
Major inflation device suppliers are Teleflex Incorporated, Acclarent Inc., Terumo Medical Corporation, B. Braun Interventional Systems Inc., CONMED Corporation, and Boston Scientific Corporation.
Which display type category is expected to garner the highest traction within the inflation devices market?
Analog inflation devices are anticipated to account for a major market share owing to their affordable nature and ease of use as compared to digital display devices.