The inflation devices market is estimated to be valued at US$ 4.64 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Inflation devices are medical devices used to inflate or expand medical devices, implants, or anatomical structures. They help in several medical procedures such as angioplasty, arthroscopy, ENT procedures, and tumor therapy. Inflation devices are compact and easy to use with integrated pressure gauges and inflation control. They inflate balloons, catheters, and stents to required diameters to perform various cardiovascular, gastroenterology, urology, and other minimally invasive surgeries.

Market Dynamics:
Rising incidence of cardiovascular diseases such as coronary artery disease, stroke, heart failure, and congenital heart disease is a key growth driver for the inflation devices market. According to the World Health Organization (WHO), cardiovascular diseases account for over 17.9 million deaths globally every year, which is an estimated 31% of all global deaths. Furthermore, increased adoption of minimally invasive surgeries due to benefits such as less pain, fewer incisions, shorter hospital stays, and quicker recovery is fueling the demand for inflation devices. Growing elderly population which is more susceptible to various target conditions is also boosting the inflation devices market growth. However, availability of alternative conventional surgery methods may hamper market growth during the forecast period.

SWOT Analysis

Strength: Inflation Devices have minimal risk of complications, reduce procedure time and offer quicker recovery. Technological advancements have improved safety, accuracy and efficiency of Inflation Devices. Growing obesity rates and rising chronic diseases increase demand for minimally invasive procedures aided by Inflation Devices.

Weakness: High costs associated with technologically advanced Inflation Devices restricts adoption in budget constrained settings. Recurring device replacement needs increase total cost of treatment. Lack of adequate medical reimbursements in many countries impact market growth.

Opportunity: Untapped growth opportunities exist in developing countries due to rising healthcare budgets and unmet clinical needs. Innovative product launches catering to tissue remodeling and drug delivery augment the market scope. Increasing collaboration between players for advanced product launches expand the market size.

Threats: Stringent regulations for new product approvals delays market entry. Presence of alternative conventional treatment methods impact product uptake. Reusable Inflation Devices pose infection control challenges over single-use devices.

Key Takeaways

The Global Inflation Devices Market Size is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing prevalence of chronic diseases and rising GI procedures. North America dominated over 35% market share in 2023 due to favorable reimbursement policies and technological advancements.

Regional analysis

Europe is anticipated to exhibit the fastest growth rate during the forecast period owing to increasing research funding for innovative product development and rising medical tourism in the UK and Germany. Asia Pacific is poised to offer significant growth opportunities with over 20% CAGR till 2030 led by expanding medical infrastructure, healthcare reforms and large patient pools in China and India.

Key players

Key players operating in the Inflation Devices market are Medtronic, Boston Scientific, Abbott Laboratories, Teleflex, ConvaTec, Smiths Group, and Cook Medical. B. Braun Melsungen and Cardinal Health are other prominent medtech companies indulged in manufacturing and marketing of Inflation Devices.

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