As per our analysis report, the global inflation devices market is expected to reach USD 854.8 million by 2028 from USD 663.1 million in 2023, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period.
Inflation devices are used in the medical field to increase or decrease pressure in balloons that are involved in angioplasty treatment or blood pressure monitoring. The rising cases of cardiovascular diseases such as heart failure and heart attacks around the world are the primary factors driving the global inflation devices market. Also, the spike in the geriatric population that requires angioplasty procedures to treat heart problems is another factor driving this business growth. The lack of work-life balance coupled with rising hypertension is promoting the use of blood pressure monitoring devices that use inflation devices. In addition, the increasing awareness about cardiovascular health and preference for minimally invasive procedures also created a positive outlook for the inflation devices market. The surge in interest among private and public sectors to develop innovative healthcare solutions is supposed to produce more accurate and affordable options, increasing demand in the inflation devices business. Besides, the growing healthcare expenses and adoption of novel medical techniques to ensure more safety, convenience, and comfort to patients are contributing to the adoption of inflation devices. Similarly, the trend of medical tourism allowed patients to travel to different parts of the world for affordable and effective treatments, creating a promising future for the inflation devices market. Moreover, the supportive government initiatives and rising partnerships within the healthcare and research institutions are likely to create numerous opportunities for the inflation devices business in the following years.
The major hurdle to the global inflation devices market is the high cost associated with the production of high-quality devices. The stringent regulations and delayed approvals for medical devices are also acting as a limitation for several new players to enter the inflation devices business. In addition, the lack of proper understanding about these devices among the patients along with the unavailability of proper insurance support in several emerging nations is also leading to a negative impact on the market. Also, the limited reimbursement conditions and the economic uncertainties are pulling some manufacturers to invest more in advanced products like inflation devices. Besides, the cases of blood loss or infections during the procedures are slowing down the adoption of inflation devices in several healthcare applications. Furthermore, the missing standardization to integrate or combine with existing medical practices, shortage of experienced healthcare professionals, challenges around data privacy with the integration of digital solutions, and changing preferences of patients for telehealth are anticipated to constrain the inflation devices market over the foreseen period.
Impact of COVID-19 on the Inflation Devices Market:
The COVID-19 pandemic had a mixed impact on the global inflation devices market. The immediate challenge to address COVID cases negatively impacted cardiovascular procedures, resulting in either cancellation or postponement. The lockdown restrictions resulted in supply chain disruptions, leading to the delayed availability of raw materials, equipment, and devices used in the treatments. The shutdown of several companies led to the halt of research and development activities and a pause in the creation of advanced medical devices. In addition, the decreased budget and expenditures to fight the spread of the pandemic further limited the production processes. Also, the temporary shutdowns and contactless conditions reduced the number of patient interactions and clinical trials. All healthcare companies focussed mainly on COVID-19, affecting the funds and grants for the device manufacturers. On the other hand, the increased emphasis on health and focus on improving heart conditions is creating a positive outlook for the integration of inflation devices. During the pandemic, several heart-related ailments were identified among the patients, paving the way for the use of inflation devices in healthcare settings. Also, the increased blood pressure monitoring to control stress-related ailments is benefitting the inflation devices business.
Market Size Available
2022 to 2028
2023 to 2028
By DisplayType, Application, Capacity, End-use and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities
North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
This research report on the global inflation devices market is segmented and sub-segmented based on display type, application, capacity, end-use and region.
Inflation Devices Market – By Display Type:
The analog segment accounted for the majority share of the global market as it is the most preferred type of device during angioplasty procedures. The increasing prevalence of heart failures and ailments along with the global trend of the elderly population is supporting the growth of this segment. The high accuracy and affordable costs compared to its counterpart are fuelling the adoption of analog display type.
Inflation Devices Market – By Application:
The interventional cardiology segment dominated with the highest share in the global inflation devices market due to the augmented cases of cardiovascular diseases among patients. The surge in lifestyle diseases like obesity and stress directly affect the functionality of the heart and lead to increased cases of angioplasty procedures. Similarly, peripheral vascular treatments are likely to propel in the coming years. The overall developments in the healthcare infrastructure and consumer preference for minimally invasive processes are expected to boost the adoption of inflation devices in the forecast period.
Inflation Devices Market – By Capacity:
The 60ml segment is anticipated to expand at a significant rate in the global inflation devices market over the predicted period. The need for large-capacity balloons to be used in procedures like gastroenterology, pulmonology, and others, is supporting the growth in this segment.
Inflation Devices Market – By End-Use:
The hospitals and clinics segment registered the prominent portion of the global inflation devices market due to the availability of multiple procedures and certified professionals in one place. The widespread prominence of procedures like angioplasty, peripheral vascular, and interventional cardiology, the availability of advanced infrastructure, and the growth of target diseases are propelling the hospital segment in the international marketplace.
Inflation Devices Market - By Region:
North America recorded the highest share of the global inflation devices market and is likely to grow at a steady rate in the coming years. The USA and Canada are the leading nations in this area. The advanced medical sector and the increase in the number of patients with cardiovascular problems are fuelling the business growth in this area. The USA accounts for the dominant share in North America due to the surge in demand for advanced and minimally invasive treatments among all demographics. Moreover, the booming investments in novel healthcare applications and research and development activities are likely to promote the use of inflation devices more in this area.
Asia Pacific is expected to register the highest growth rate in this market over the predicted period due to the advances in healthcare technologies and growing awareness about the benefits of inflation devices among consumers. In addition, the affordability of various diagnostic procedures in Asian countries compared to Western nations is encouraging more patients to avail of these services. Moreover, the expanding population and improving disposable income conditions are anticipated to drive market growth in the APAC nations. China and India are leading nations in the Asia Pacific region.
Europe is also a significant market for inflation devices owing to the increasing elderly population and rising cases of cardiovascular problems. The recent surge in treatments like angioplasty and strategic funding towards research and development activities also promote the inflation devices market in this locale. Some of the prominent nations in the European inflation devices market are the United Kingdom, Germany, Spain, Italy, and France.
Latin America registered a smaller portion of the global inflation devices market. However, the increasing demand for advanced treatments, the rise in medical investments, and improvements in disposable income in nations like Brazil and Mexico are likely to create lucrative opportunities in this area.
The Middle East and Africa is also a smaller player in the inflation devices market. Recently, nations in this region started investing in healthcare infrastructure and advanced therapeutics, which can create positive opportunities for this regional market in the future.
KEY MARKET MANUFACTURERS:
Medtronic PLC, Boston Scientific Corporation, Cardinal Health, Atrion Corporation, Teleflex Incorporated, CONMED Corporation, Merit Medical Systems, Acclarent Inc., Becton, Dickinson and Company, Terumo Medical Corporation, Olympus Corporation, US Endovascular, Johnson & Johnson Services, B. Braun SE, Abbott, Smiths Group, Stryker Corporation, and TZ Medical Inc.
NOTABLE HAPPENINGS IN THIS MARKET IN THE RECENT PAST:
Technological innovations have led to the development of smart inflation devices with features like digital pressure control, real-time monitoring, and connectivity, enhancing precision and procedural efficiency.
Safety measures include proper training for healthcare personnel, adherence to usage guidelines, regular maintenance, and monitoring of pressure levels to prevent complications during procedures.
An inflation device is a medical tool designed to deliver and control the flow of gas or liquid to inflate various medical devices during diagnostic or therapeutic procedures.
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