Insufflation Devices Market Size, Share | Research Report [2030]
The global Insufflation Devices market gathered revenue around USD 4.21 billion in 2021 and market is set to grow USD 8.40 billion by the end of 2030 and is estimated to expand at a modest CAGR of 7.9% during the prediction period 2022 to 2030.
Growth Factors:
The demand for insufflation devices is increasing owing to the technological advancements in surgery, the increasing number of surgical cases, and the rising prevalence of uterine fibroids, obesity, and heart disorders across the globe. The increasing incidence of obesity due to a sedentary lifestyle and an increase in the intake of energy-dense foods that are high in fat and sugar is one of the leading factors contributing to the market growth.
Increasing adoption of minimally invasive surgeries, rapidly aging population, and rising number of laparoscopic procedures are among the major factors driving this market’s growth.
The COVID-19 outbreakhas caused the global implementation of strict measures to curbthe spread, which has led to the cancelation/delayof elective surgeries, including many laparoscopic procedures world wide. A large number of medical device manufacturing companies and global suppliers have been adversely affected during this time. However, with the abundance of deferred medical procedures in the pipeline, the market is likely to rebound and grow significantly over the forecast period.
Obesity or overweight are major health concerns that lead to a number of associated diseases or complications, such as diabetes and cardiovascular diseases. As per the WHO, in 2016, over 1.12 billion adults were overweight, out of which around 650.1million people were obese and around 2.9 million people die each year as a result of being overweight/obese. Such instances are expected to increase the demand for bariatric procedures and other related surgeries, thereby propelling the market growth over the forecast period.
Moreover, growing patient preference for minimally invasive surgeries owing to the reduced risk and trauma associated with these procedures is expected to strengthen the growth of this market. Additionally, minimally invasive laparoscopic surgeries are increasingly being covered by health insurance providers in selected countries. For instance, for laparoscopic surgical operations, Medicare will cover up to 75.2% of the fee as listed in the Medicare Benefits Schedule. These factors have led to an increased preference for minimally invasive surgeries among patients.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Insufflation Devices market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Insufflation Devices market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 8.40 billion by 2030 |
| Growth Rate | CAGR of 7.9% From 2022 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Application, end use, Type |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Fujifilm; Medtronic; Stryker; BD; Olympus; B. Braun Melsungen; Smith & Nephew; Karl Storz; Steris; CONMED; Richard Wolf |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Insufflation Devices market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional analysis:
North America dominated the market with as hare of over 35.2% in 2020 and is expected to witness considerable growth over the forecast period. The growth of this regional market is attributed to the increase in the prevalence of laparoscopic surgeries, such as hysterectomy and cholecystectomy, and a rise in the demand for minimally invasive procedures. Technological advancements are also contributing to the growth of the market in North America. Therefore, North America is expected to dominate the market over the forecast period.
The Asia Pacific market is anticipated to witness the fastest growth over the forecast period. The increasing prevalence of obesity and heart disorders, along with unmet demand for effective and long-term treatment solutions, is expected to present significant growth opportunities for insufflation devices in this region. Moreover, the rising preference for clinical trials and high R&D investments by global market players owing to their low-cost structure is high-impact rendering drivers for the market in the Asia Pacific region. Rising awareness regarding minimally invasive surgeries and patient compliance with outpatient surgery are expected to fuel the market growth in this region.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Insufflation Devices Market include: Fujifilm; Medtronic; Stryker; BD; Olympus; B. Braun Melsungen; Smith & Nephew; Karl Storz; Steris; CONMED; Richard Wolf
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Insufflation Devices market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Insufflation Devices market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Insufflation Devices markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Insufflation Devices Market Study:
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