Inflation Device Market Set to Value Over US $ 590 Million by the End of 2026

  • 21 Aug 2019

Global Inflation Device Market to value over US $ 590 million and grow at a CAGR of over 4% during the forecast period from 2019 to 2026.

 With rising consumer awareness about efficient medical procedures, the demand for minimally invasive procedures is on the rise. Cost-effective and medically sound, these therapies have proven to be beneficially from all angles. The growing implementation of minimally invasive procedures and the presence of advanced healthcare infrastructure in developed countries are promoting the growth of the global inflation device market. Due to an unhealthy lifestyle, there is a growing incidence of CVD, and the less-stringent approval procedures are contributing to the growth of the market. The market is highly unexplored and the dire need for more efficient procedures and reforms are major factors stimulating the growth of the market. With the increase in the geriatric population, the prevalence of coronary artery disease is also expected to increase, which is a major target indication for interventional cardiology procedures that utilizes inflation device to inflate and deflate the balloon.

The spiralling incidence of target diseases, favourable medical reimbursement for minimally invasive procedures in developed countries, and increasing applications of inflation devices are the fundamental determinants driving the inflation device market growth.

Initiatives undertaken by government and non-government organizations to control and manage the weight of healthcare-associated infections (HAI) in developed countries and effectively manage the increasing healthcare expenditure across emerging markets are further assisting inflation device market growth.

The increasing adoption of balloon-assisted surgeries that employ inflation devices to swell and deflate the balloon in procedures such as angioplasty, angiography, balloon sinuplasty, catheter embolization is the principal determinant increasing the demand for inflation devices. Moreover, the increase in disposable income and escalating healthcare expenditure, high patient awareness, and favourable reimbursement landscape in most developed countries is also contributing to the inflation device market growth.

The market is fairly untapped and the firms are trying to maximise their gains by establishing a strong foothold and presence globally. In 2016, Vascular Solutions, Inc. announced that they have received clearance from the FDA for their fluent inflation device which is specially designed so that they can be used during cardiovascular procedures. The device has the ability to maintain and create pressure in balloon catheters. This launch will help them strengthen their position in the market and will also help the physicians to perform different interventional procedures.

The digital display inflation devices segment is expected to grow at a faster CAGR during the forecast period. The high growth of this segment can be attributed to the advanced display patterns and ease of use associated with these devices. Moreover, an increasing number of local manufacturers manufacturing digital inflation devices at a lower cost as compared to established market players is another important factor contributing to the segment growth.

The interventional cardiology application segment is estimated to command the largest share of the inflation devices market. The majority share of this segment is attributed to the growing prevalence of cardiovascular diseases, rising geriatric population, and the rising preference for minimally invasive surgeries.

The hospitals and clinics segment accounted for the largest market share largely due to the growing number of hospitals and speciality clinics in emerging countries, increasing prevalence of target diseases and a large number of surgical and diagnostic procedures performed across these facilities.     

The presence of established firms and developed healthcare facilities in North America makes it a major market. The rising population and increased demand for medical care boost the market. The APAC region is forecasted to grow at the highest CAGR during the forecast period due to continuous developments.

Recent Developments

In 2016, NuCryo Vascular LLC announced that they have received clearance for their next-generation reusable cryoplasty inflation device PolarCath Peripheral Dilatation System. They are specially designed for the treatment of obstructive lesions of polytetrafluoroethylene and vasculature. This new system can also be used to perform balloon cryoplasty. This will be very useful to treat peripheral arterial disease.

In 2018, ASAHI INTECC CO., LTD. (Japan) entered a partnership agreement with Medtronic plc to exclusively distribute Asahi Intecc’s Neurovascular Guidewire and catheter in the US market. This helped them widen their consumer base. Merit Medical Systems, Inc. (US) acquired products from Argon Medical Devices (US) and Catheter Connections, Inc. (the US) and increased its product portfolio. Merit Medical Systems, Inc. (US) also received the US FDA’s 510(k) clearance for the SwiftNINJA Steerable Microcatheter and had also acquired Covidien plc (US). All of these measures helped the firm to promote its services on a global level and maximise trade.

Global Inflation Device Market Segmentation 

By Capacity

●         20ml Inflation Devices

●         30ml Inflation Devices

●         60ml Inflation Devices

By Display Type  

●        Analog Inflation Devices

●        Digital Inflation Devices

By Application

●     Interventional Cardiology

●     Interventional Radiology

●     Peripheral Vascular Procedures

●     Gastroenterological Procedures

●     Urological Procedures

●     Other Applications

By End User

●       Hospitals and Clinics

●       Ambulatory Surgery Centers

By Region

●      Europe

●      North America

●      APAC

●      Latin America

●      Rest of World

Competitive Landscape:

●      Tier 1 players- established companies in the market with a major market share

●      Tier 2 players

●      Emerging players which are growing rapidly

●      New Entrants 

Major firms in the market are Merit Medical Systems (US), Boston Scientific Corporation (US), Cardinal Health (US), CONMED Corporation (US), Medtronic plc (Ireland), Acclarent Inc. (US), Cook Medical (US), Atrion Corporation (US), Becton, Dickinson and Company (US), Terumo Medical Corporation (Japan), B. Braun Melsungen AG (US), Olympus Corporation (Japan), Teleflex Incorporated (US), and US Endovascular (US), among others.

FutureWise Takeaways

●      Growth prospects

●      SWOT analysis

●      Key trends

●      Key data points affecting market growth

Objectives of the Study:

●     To provide an exhaustive analysis on the global inflation device market by capacity, by display type, by application, by end-user, and by region

●      To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

●      To evaluate and forecast micro-markets and the overall market

●      To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world

●      To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

●      Profiling of companies to evaluate their market shares, strategies, financials and core competencies

 

 

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