Global Inflation Devices Market Size, Share, Forecast Report, 2020-2027
The global inflation devices market accounted for $517 million in 2018, and is expected to reach $770 million by 2026, registering a CAGR of 5.1% from 2019 to 2026.
Inflation devices are used for filling and emptying of balloons that are used for the surgical procedures. Inflation devices work by producing atmospheric pressure of a certain preset limit. The amount of pressure applied is displayed on the device. Furthermore, these devices have different types of displays such as analogue displays and digital displays. These displays have different properties such as the digital displays offer an advantage to note the readings in a dim light room due to their luminescent backgrounds. Furthermore, analogue displays are easy and simple to use, as they are incorporated with a scale on which the readings are displayed. In addition, these devices are utilized in various surgeries such as cardiovascular procedures gastroenterological procedures.
The growth of the global inflation devices market driven by rise in adoption of minimally invasive procedures, For instance, these surgical procedures require smaller incisions which results in less scarring. Furthermore these procedures are less painful as compared to the surgeries including larger incisions. Moreover, these surgeries also have higher accuracy rate compared to traditional open surgery. Therefore, these surgeries are preferred by patients and healthcare providers. In addition, factors such as surge in prevalence of cardiovascular diseases, and increase in number of surgical procedures performed across the globe. Furthermore, surge in healthcare expenditure worldwide is another factor that contributes toward the growth of the market. In addition, rise in geriatric population across the globe acts as a major driver of the global inflation devices market. However, expensive surgical procedures restrains the growth of the market.
Inflation Devices Market Segmentation
The inflation devices market is segmented into display type, application, end user, and region to provide a detailed assessment of the market. On the basis of display type, the market is divided into analogue inflation devices, and digital inflation device. The applications covered in the study include gastroenterological procedures, urological procedure, interventional cardiology & radiology, and peripheral vascular procedures. By end user, the market is bifurcated into hospitals & clinics and ambulatory surgical centers. Region wise, the inflation devices market size is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA).
Segment Review
According to the display type, the market is classified into display type, application, end user, and region. The analogue inflation devices segment occupied the largest of inflation devices market share in 2018, owing to the advantages offered by these devices. For instance, analogue inflation devices are inexpensive and therefore are preferred over their counterparts. Moreover, these devices are simple and easier to use, which further contribute toward the growth of this segment. In addition, the analogue inflation devices segment also exhibited the fastest growth rate during the forecast period.
By end user, the market is bifurcated into hospitals & clinics and ambulatory surgical centers. The hospitals & clinics occupied the largest share of the inflation devices market. This is attributed to rise in number of hospitals worldwide. Furthermore, surge in prevalence of various diseases that require surgeries for their treatment fuels the adoption of inflation devices, thereby augmenting the growth of the global market. Moreover, surgical procedures require specialized equipment and trained professional medical staff. Therefore, hospitals use inflation devices to perform surgeries.
Region wise, North America accounted for the major share of inflation devices market size, and is expected to continue this trend during the forecast, owing to easy availability of inflation devices in this region. Moreover, surge in number of surgical procedures performed in North America acts as a key driver of the market. Furthermore, presence of trained healthcare professional and surge in awareness related to use of inflation devices among healthcare professionals are other major factors that boost the growth of the market in the region. However, Asia-Pacific is anticipated to register the fastest growth during the forecast period, owing to surge in healthcare expenditure in the region. In addition, factors such as presence of a large patient base coupled with surge in technological advancements and rise in awareness related to the use of inflation devices in Asia-Pacific present potential opportunities for the key players operating in the inflation devices market. Hence, the factors aforementioned drive the inflation devices market growth in region
The global inflation devices market is highly competitive, and the prominent players in the market have adopted various strategies for garnering maximum market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Argon Medical Devices Inc., Beckton Dickson And Company, Boston Scientific Corporation, ConMed Corporation., Johnson & Johnson (Acclarent), Medtronic Plc., Merit Medical System, Olympus Corporation, Teleflex Inc., and Terumo Corporation.
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers