Global Inflation Device Market to value over US$ 890 million and grow at a CAGR of over 4.9% during the forecast period from 2025 to 2033
With increasing consumer awareness of efficient medical procedures, the demand for minimally invasive treatments is growing. Cost-effective and medically sound, these therapies have proven to be beneficial 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 underexplored, and the dire need for more efficient methods and reforms is a significant factor driving the market's growth. 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 utilize an 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, which employ inflation devices to swell and deflate the balloon in procedures such as angioplasty, angiography, balloon sinuplasty, and catheter embolization, is the principal determinant driving 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 relatively 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 it had received clearance from the FDA for its Fluent Inflation Device, which is specially designed for use during cardiovascular procedures. The device has the ability to maintain and create pressure in balloon catheters. This launch will help them strengthen their market position and also enable physicians to perform various interventional procedures.
The digital display inflation devices segment is expected to grow at a faster compound annual growth rate (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 are producing digital inflation devices at a lower cost compared to established market players, which is another important factor contributing to the segment's 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, the 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 specialty 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 are driving market growth. The APAC region is forecasted to grow at the highest CAGR during the forecast period due to continuous developments.
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
North America is projected to maintain its leading position in the global inflation device market, attributed to its advanced healthcare infrastructure and high adoption rate of minimally invasive procedures. Conversely, the Asia-Pacific region is expected to exhibit the highest CAGR, driven by the expansion of healthcare facilities, increasing awareness of healthcare-associated infections (HAIs), and a growing preference for disposable medical devices.
Major players included in the Inflation Devices Market:
- Merit Medical Systems
- Boston Scientific Corporation
- Cardinal Health
- CONMED Corporation
- Medtronic plc, Acclarent Inc.
- Cook Medical
- Atrion Corporation
- Becton, Dickinson and Company
- Terumo Medical Corporation
- B. Braun Melsungen AG
- Olympus Corporation
- Teleflex Incorporated
- US Endovascular
Recent Developments in the Inflation Device Market
Merit Medical Systems: In December 2022, Merit Medical Systems announced the commercial introduction of the basixALPHATM Inflation Device in the United States. This ergonomic tool is designed to simplify angioplasty procedures by allowing one-handed preparation and quick inflation with minimal effort.
Medtronic: Medtronic has introduced a novel syringe inflation device for neurovascular procedures, enhancing precision and reliability in minimally invasive surgeries.
Boston Scientific Corporation: Boston Scientific has launched a new generation of balloon inflation devices for coronary interventions, focusing on improving procedural efficiency and patient outcomes.
Objectives of the Study:
- To provide an exhaustive analysis on the global 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 Middle East and Africa
- To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Get unlimited analyst support and customise this study further to your requirements, contact sales@futurewiseresearch.com