Wilmington, Delaware, United States, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Insufflation devices market are expected to reach a market valuation of US$ 4.7 billion by the end of 2032, from a market valuation of US$ 2.3 billion in 2021. The market for insufflation devices is expected to increase at a CAGR of 6.7%. With a growing number of surgical cases, technological advances in medical procedures, and a rise in obesity, heart disease, and uterine fibroids, demand for insufflation devices is expected to rise.
Insufflation devices are commonly used in robotic surgery, laparoscopy, and hysteroscopy for chronic disease patients. Surgical interventions are becoming more popular as these conditions become more prevalent. By creating pneumoperitoneum, insufflation devices facilitate access to the targeted area and better visualization. Insufflation devices are expanding in popularity due to the growing number of chronic disease patients who require surgical intervention for their conditions.
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A WHO report from June 2021 found that 39 million under-fives were obese or overweight in 2020. According to the World Obesity Atlas March 2022, one billion people worldwide will be obese by 2030, roughly one out of five women and one out of seven men. In addition, as bariatric surgery becomes more familiar to the public, device insufflation has become a more popular treatment option.
Key Findings of the Market Report
- Laparoscopic procedures accounted for 6.2% of the CAGR between 2017 and 2021.
- According to the analysis, over US$ 827.9 Mn insufflation devices will be procured during the next decade in the United States alone.
- The market for insufflation devices is expected to be dominated by ambulatory surgical centers.
- By 2032, the United Kingdom market is expected to reach a valuation of US$ 190.4 million.
- Japan's insufflation device market garnered an absolute dollar opportunity of nearly US$ 100 million.
- Insufflation devices market in South Korea is expected to reach US$ 82 million by 2032.
Global Insufflation Devices Market: Growth Drivers
- Colorectal cancer and Crohn's disease are among the most common gastrointestinal and abdominal diseases creating a greater demand for minimally invasive surgery.
- Due to their ability to reduce post-operative pain and speed recovery times, laparoscopes and endoscopes with insufflation devices are increasingly popular compared to open surgery. The growing popularity of minimally invasive surgeries is driving the demand for insufflation devices.
- Insufflation devices are also becoming more technologically advanced. Surgical tools have evolved to provide surgeons with better control during procedures by increasing safety, precision, and ease of use.
- The development of devices that monitor and regulate pressure during minimally invasive surgeries, for instance, has minimized complications. Increasing consumer interest in these devices makes them more appealing to healthcare professionals and contributes to their market expansion.
Global Insufflation Devices Market: Regional Landscape
- North America is expected to lead the market over the forecast period and to witness considerable growth in coming years. Hysterectomy and cholecystectomy are among the most commonly performed laparoscopic surgeries in this region, driving the demand for insufflation devices. A rise in the number of minimally invasive procedures has led to an increase in demand for these devices on the market.
- Since developed nations like the United States and Canada have well-developed medical infrastructure, North America dominated the market. A high-tech, innovative, and patient-friendly insufflation device can be adopted as a result.
- According to the forecast, the Asia Pacific market will grow at the fastest rate over the coming years. The growing obesity and heart disease epidemic in this region is expected to drive the market. The need for effective and long-term therapeutic options will make insufflation devices attractive to manufacturers.
- Due to their low costs, companies are investing in higher-quality research and development and clinical trials. As disposable incomes rise and demand for high-tech devices increases, the market is expected to grow. Technological advancements have made insufflation devices more efficient and safer, resulting in their widespread adoption.
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Global Insufflation Devices Market: Key Players
Regulatory approvals, technological advancements, product launches, and acquisitions are among the strategies key players use in the global insufflation devices market use. These strategies will likely drive growth in the healthcare sector. Players have adopted a variety of strategies to expand their businesses in the field of insufflation devices.
Key players include Fujifilm, Medtronic, Stryker Corporation, BD, Olympus, B. Braun Melsungen, Smith & Nephew, Karl Storz, Steris, CONMED, Richard Wolf, Laprosurge, Locamed, Mindray, Seemann Technologies, Cooper Surgical, Genicom, Ackermann Instrumente, Teleflex, WISAP Medical Technology, Ethicon, ILO Electronic, and Palliare Ltd.
Key Developments
- In May 2022, DaVita Inc. and Medtronic announced the formation of an independent medical device company focused on kidney care. Patients who suffer from kidney failure will be the main focus of the new company's research and development.
- In April 2022, GE Healthcare and Medtronic announced a collaboration aimed at improving ambulatory surgical centers and outpatient laboratories. These two companies hoped to boost Ambulatory Surgical Clinics through a new product portfolio that offered better healthcare facilities to customers.
Key Segments Covered in Insufflation Devices Industry Survey
By Application
- Laparoscopic Surgery
- Bariatric Surgery
- Cardiac Surgery
- Other Surgeries
By End-Use
- Hospitals
- Clinics
- Ambulatory Surgical Centres
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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