Inflation Device Market is expected to grow at a CAGR of 4.7% to reach USD 600 million by 2024. The market is expanding as a result of the increasing use of minimally invasive procedures, the fact that most industrialized nations have a well-established healthcare system, the rising prevalence of CVD, and laxer approval requirements. An inflation device is used in interventional cardiology treatments to inflate and deflate balloons. As the geriatric population grows, it is anticipated that the prevalence of coronary artery disease would rise as well. During the projected period, the market’s expansion is anticipated to be fueled by the aforementioned critical variables.

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Browse in-depth TOC on “Inflation Device Market”

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Key Market Players

The major players operating in the inflation devices 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.

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By capacity, the 60ml inflation device segment is expected to grow at the highest rate during the forecast period

Based on display type, the inflation device market is segmented into 20ml, 30ml, and 60ml inflation devices. The 60ml inflation devices segment is expected to grow at fastest CAGR during forecast period. These devices feature quick-latch mechanisms (enables one-handed deflation) and are designed to be easy to use, which has driven their adoption in pulmonary, gastroenterology, and otolaryngology procedures, as these procedures utilize comparatively larger-sized balloons and require more amounts of liquid for inflation.

The interventional cardiology segment was the largest contributor to the inflation devices market, by application in 2018

Based on application, the inflation device market is segmented interventional cardiology, intervention radiology, peripheral vascular procedures, urological procedures, gastroenterological procedures, and other applications. Among these, the interventional cardiology segment accounted for the largest share of the inflation device market in 2018. The rising geriatric population more prone to develop CVD, which is a major factor driving the adoption of interventional cardiology procedures that utilizes inflation devices. Moreover, growth in the number of new multi-specialty hospitals in developing countries offering advanced minimally invasive procedures, favourable reimbursement scenario for angioplasty procedures will further drive growth of segment over the forecast period.

By end user, the hospitals and clinics segment was the largest contributor to the inflation devices market in 2018

Based on end users, the global inflation device industry is segmented into hospitals and clinics; and ambulatory care centers. In 2018, the hospitals and clinics segment accounted for the largest market share majorly due to the growing number of hospitals and specialty clinics in emerging countries; increasing prevalence of target diseases; and large number of surgical and diagnostic procedures performed across these facilities.

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Asia Pacific is expected to grow at the highest CAGR in the inflation device market during the forecast period

North America is expected to account for largest share in the global inflation device market in 2018. However, APAC is expected to grow at the highest CAGR during the forecast period. This regional segment comprises Japan, China, India, and the Rest of Asia Pacific. Market growth is driven by the rising number of minimally invasive surgical procedures, developing healthcare infrastructure, rising awareness about HAIs and the use of disposable devices, and the increasing adoption of minimally invasive procedures. Major market players are undertaking strategic initiatives to increase their presence in emerging APAC countries such as China and India in order to leverage the growth opportunities in these markets will further contribute to the market growth.

Inflation Device Industry: Recent Developments:

• In 2018, Acclarent, Inc. (US) received the FDA clearance for the expanded use of its AERA Eustachian Tube Balloon Dilation System to include its use in young patients, who are young as 18 years of age
• In 2017, Becton, Dickson and Company (US) has acquired C. R. Bard, Inc. that manufactures medical devices in the fields of urology, vascular, surgical specialty, and oncology. This acquisition expanded BD’s offering in the inflation devices market by the addition of the EAGLE inflation device product.
• In 2017, Boston Scientific (US) established its new manufacturing facility in Penang, Malaysia. This helped the company expand its presence in the Asia Pacific region and also support local R&D activities.
• In 2016, Acclarent, Inc. (US) launched the ACCLARENT AERA Eustachian Tube Balloon Dilation System in the US after receiving the US FDA approval for Eustachian Tube Dysfunction (ETD) disorder