Wilmington, Delaware, United States, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The inflation devices industry was worth US$ 537.7 million in 2022. The industry is projected to expand at a CAGR of 5.2% from 2023 to 2031, reaching more than US$ 851.8 million by 2031. Smart technology, smarter materials, and increasing automation are being integrated to improve medical process precision and efficiency.
The trend towards minimally invasive techniques is predicted to continue. Inflation devices play an important part in these procedures by providing accuracy and control. As the choice for minimally invasive treatments grows, the demand for improved inflation devices is projected to rise.
With an increasing emphasis on preventative healthcare and early detection, there may be a greater need for diagnostic techniques that use inflation devices. This trend is likely to be affected by public health initiatives, increased healthcare access, and an emphasis on preventative health management.
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Regulatory frameworks and standards might change, influencing medical device development and uptake. Compliance with increasing legislation and standards may influence the design and functionality of inflation devices in the future.
The merging of telemedicine and remote patient monitoring provides Inflation Devices with a unique opportunity. Developing gadgets that may be effortlessly incorporated into telehealth platforms and allow healthcare practitioners to remotely monitor patients expands the flexibility and accessibility of cardiovascular treatment.
A rising emphasis on patient-centered treatment creates potential for companies to design Inflation Devices that priorities patient comfort, convenience of use, and shorter recovery times. Patient happiness is becoming an increasingly important aspect in healthcare decision-making, and devices that priorities the patient experience may have a competitive advantage.
Key Findings of the Market Report
- In 2022, analog inflation devices accounted for the majority of the global market.
- Based on function, balloon angioplasty is expected to drive inflation device demand.
- Coronary interventions are expected to lead to an increase in the market for inflation devices.
- Inflation devices are expected to be in high demand from the hospital segment.
- The global industry was dominated by North America in 2022.
Global Inflation Devices Market: Key Players
As market share increases, leading inflation device manufacturers have adopted strategies such as expanding product portfolios and securing funding for new product development.
Key Players
- Atrion Medical
- BD
- Lepu Medical Technology (Beijing) Co. Ltd.
- Merit Medical Systems
- Translumina
- Advin Health Care
- Dolphin Life Science India LLP
- Boston Scientific Corporation
- Acclarent, Inc. (Johnson & Johnson MedTech)
- B. Braun Interventional Systems Inc.
- CONMED Corporation
- Cook Medical
Key Developments
- In June 2023, Translumina acquired Blue Medical Devices, a Dutch balloon catheter manufacturer. In addition to using Blue Medical's patented technology for drug application, Translumina also uses its coating recipes to perform neurovascular and peripheral interventions.
- The company is focusing on investing in talent and infrastructure, expanding globally, leveraging patented drug application technology, and collaborating with healthcare institutions.
Global Inflation Devices Market: Growth Drivers
- Increasing cardiovascular illnesses and an aging population drive the demand for inflation devices. As the prevalence of illnesses such as coronary artery disease and hypertension rises, diagnostic and interventional techniques involving Inflation Devices become increasingly important.
- Technological improvements in the healthcare industry have greatly aided the growth of the Inflation Devices market. Innovations in device design, materials, and functionality improve inflation systems' efficiency, safety, and precision, resulting in increased acceptance among healthcare practitioners.
- Incorporating digital technologies and automation into these devices simplifies processes, lowering the margin for mistakes and increasing patient outcomes.
- The growing awareness and accessibility of healthcare services worldwide help drive market expansion. As healthcare infrastructure improves in emerging nations and awareness of preventive and diagnostic procedures grows, so does demand for inflation devices. This is especially noticeable in regions where healthcare systems are being modernized, emphasizing early identification and intervention in cardiovascular disorders.
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Global Inflation Devices Market: Regional Landscape
- Inflation devices are expected to be in high demand in North America. The well-established and advanced healthcare system in North America is a major motivator.
- The region has a sophisticated healthcare system and a high adoption rate of innovative medical technologies. The incidence of cardiovascular diseases, combined with a proactive approach to disease management and early intervention, drives demand for cutting-edge medical devices, particularly inflation devices.
- As North America's population ages, inflation devices are becoming increasingly important. More diagnostic and interventional procedures are needed as the population ages, and cardiovascular disorders become more prevalent. Inflation devices are important in various cardiovascular treatments, including angioplasty and stent implantation, contributing to their high regional demand.
- Continuous research and development operations in North America lead to technological advances in healthcare. The ongoing pursuit of innovation in medical devices, especially inflation devices, guarantees healthcare professionals access to cutting-edge technologies, boosting market growth.
Global Inflation Devices Market: Segmentation
By Display Type
- Analog Inflation Devices
- Digital Inflation Devices
By Pressure Capacity
- 20 ml Inflation Devices
- 30 ml Inflation Devices
- 60 ml Inflation Devices
By Function
- Balloon Angioplasty
- Arterial Stent Placement
- Endoscopy
- Others
By Application
- Coronary Interventions
- Urology
- Gastroenterology
- Peripheral Interventions
- Others
By End User
- Hospitals
- Specialty Clinics
- Ambulatory Surgery Centers
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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