Global Inflation Device Market - 2024-2031

Global Inflation Device Market - 2024-2031

The global inflation devices market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031.

Inflation devices are the products that are used to inflate or deflate a balloon during an interventional procedure. These devices are used in several surgeries related to cardiovascular, urology, endoscopy, gastrointestinal, biliary systems, etc. These devices are either disposable or reusable, but most manufacturers recommend using the device for a single patient. The devices come in different capacities such as 25cc (cubic centimeters) to 60cc, with an air pressure ranging from 5 to 30 ATM (atmosphere).

The aging population across the globe and concurrent increase in the risk of cardiovascular and other age-related conditions is expected to increase surgical interventions, where inflation devices play a crucial role.

Market Dynamics: Drivers

Rising prevalence of cardiovascular conditions

As the global population is rising especially the old-age demographic, the incidence of cardiovascular conditions such as stroke, atherosclerosis, coronary artery disease, and heart attack are also expected to rise, creating a huge demand for cardiovascular interventional procedures. As per the United Nations statistics, by 2030, the global population is predicted to reach 8.5 billion and in 2050 to 9.7 billion. As per the World Health Organization (WHO) estimates, the old-age population above 60 years would be nearly 1.4 billion in 2030 and 2.1 billion in 2050.

Angioplasty is one of the major interventional treatments for the above-mentioned indications. Angioplasty refers to stretching open the narrowed or blocked artery so that the blood flow can be restored. To perform this procedure, a balloon catheter is inserted in the artery, and when it reaches the site of intent, the balloon is inflated to open the artery. In modern medicine, to permanently keep the artery open, a stent is placed, which allows the blood to flow without any blockade. Even for the placement of this stent, a balloon inflation device is necessary.

For instance, as per the British Heart Foundation report published in 2023, every year in the United Kingdom, nearly 90,000 angioplasty procedures are performed for one or the other cardiovascular indication. As per the Regents of the University of Michigan, almost 500,000 U.S. citizens undergo percutaneous coronary intervention (PCI) to unclog the blocked arteries.

Considering the cardiovascular caseloads and the rise in surgical procedure volumes all around the world, the demand for inflation devices is expected to rise, creating a positive shift in the market growth in the forecast period. In addition, the rising technological advancements and demand for minimally invasive procedures are expected to boost the market growth further.

Restraints

The high cost of inflation devices is one of the restraining factors that may hinder market growth. The majority of the inflation devices offered by the market leaders are disposable, which means that for every procedure, a new device should be used. This can be an economic burden to small-scale health centers and clinics with low operational budgets. Moreover, a lack of skilled professionals especially in low economic countries may hinder product adoption.

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Segment Analysis

The global inflation devices market is segmented based on product type, modality, end-users, and region.

The single-use in the modality segment accounted for approximately 89.4% of the global inflation devices market share

The global inflation devices are categorized into single-use and reusable devices based on their modality. The single-use devices have the highest market share due to their disposable nature. The majority of these single-use devices come in a packing already sterilized making them ready to use. The requirement of sterility and maintenance is null for these devices. Moreover, many established manufacturers in the market offer inflation devices that are only single-use and recommend to not reuse them again.



Geographical Analysis

North America is expected to dominate the market with a 43.2% share in the global inflation devices market

North America is expected to dominate the market due to its well-advanced healthcare infrastructure, and state-of-the-art hospitals equipped with high-end technologies. Moreover, the the major high-income countries in the region the U.S. and Canada are well-known for their investments in the healthcare industry. These countries are well-equipped with advanced hospitals and ambulatory surgical centers (ASCs). The ambulatory surgical centers are established in North America, to decrease the economic burden on the patient and the healthcare system. These centers provide interventional cardiology procedures to the citizens of the respective countries at affordable prices, making them accessible for almost all patients.

Moreover, the region has a high prevalence of cardiovascular conditions such as CVD (cardiovascular disease), stroke, etc.

As per the American Heart Association’s heart disease and stroke statistics 2024 update, nearly 222.4 per 100,000 patients age-adjusted death rate attributable to CVD, and nearly 25.5% of the U.S. adult population have their LDL-cholesterol greater than 130mg/dL. Low-density lipoprotein (LDL) is the major culprit in the majority of cardiovascular conditions such as ischemia, atherosclerosis, and stroke. Moreover, nearly 9.7 million people in the U.S. have undiagnosed diabetes, 29.3 million people have been diagnosed with diabetes and 115.9 million people are at risk of pre-diabetes.

Considering the high prevalence of these indications, and the well-established healthcare system providing necessary medical services to these patients that include interventional cardiology procedures where the role of inflation devices is prominent, their demand is expected to be higher in the North American region. In addition, most market leaders have established a stronghold market position in the region, making the devices easily available to healthcare facilities. All these factors are expected to be contributing to the region’s dominance in the global market for inflation devices.

Covid-19 Analysis

The Covid-19 pandemic had a significant impact on the market of inflation devices. During the pandemic, the global supply chain has been disrupted due to imposed restrictions on movement and lockdowns. This is anticipated to have created medical device shortages in the areas with low access and no manufacturing capabilities, especially in the Middle East and African countries. Moreover, due to the diversion of healthcare resources to COVID-infected patients, several interventional procedures were found to be impacted.

For instance, a study conducted in Saudi Arabia which was published in the National Center for Biotechnology Information in March 2023, stated that during their study period (March 2020 to March 2021), the number of cardiovascular interventional procedures was reduced by 21.4% as compared to pre-pandemic study period (March 2019 to February 2020).

Market Segmentation

By Product Type
• Cardiovascular Inflation Devices
• Endoscopy Inflation Devices
• Urology Inflation Devices
• Others

By Modality
• Single-Use
• Reusable

By End-Users
• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major players in the inflation devices market include B. Braun Group of Companies, Merit Medical Systems., Boston Scientific Corporation, Cook, Olympus America, Medtronic, BD, Johnson & Johnson Inc., CONMED Corporation. and Vyogn among others.

Why Purchase the Report??
• To visualize the global inflation devices market segmentation based on product type, modality, end-users and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development
• Excel data sheet with numerous data points of inflation devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global inflation devices market report would provide approximately 62 tables, 54 figures, and 187 Pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies