Inflation Devices Market
The global Inflation Devices market is developing primarily due to the escalating use of minimally invasive processes, the existence of robust medical facilities in the most of the developed nations. In addition to that, the growing prevalence of cardiovascular diseases, and less strict procedures of approval are further estimated to boost demand in the market. With the rise in geriatric population, incidences o f coronary artery disease is predicted to rise, which is one of the main reasons for interventional cardiology procedures. This process makes use of an inflation device so as to inflate as well as deflate the balloon. The aforementioned main factors likely to work in favor of the global inflation devices market in the years to come.
The global inflation devices market is expected to be driven by a rise in the geriatric population with chronic conditions such as urological diseases and CVDs. In addition to that, the market is expected to be propelled by a rise in demand for less invasive treatments. Cardiovascular disorders are a leading cause of mortality globally, as per WHO (World Health Organization). The businesses are able to reinforce its market position, thanks to rapid product approvals. However, the market is expected to be constrained by the high price of cardiac devices and existence of various alternative devices.
Inflation Devices Market: Overview
Inflation devices are digital devices with analogue ergonomic system. These devices are used to measure the pressure in stents and balloons during a cardiac surgery. It is also used for filling and emptying balloons. Inflation devices include pressure gauges with scale market in interval of 1 bar, ratchet lever to control the piston, and connection tube with rotatable adaptor.
Inflation Devices Market: Key Trends
Increase in geriatric population with chronic diseases such as cardiovascular diseases and urological diseases is a factor that is anticipated to drive the global inflation devices market. Additionally, rise in demand for minimally invasive procedures is likely to propel the global market. According to the World Health Organization, cardiovascular diseases are a major causes of death worldwide. Approximately 17.9 million deaths occurred across the globe due to cardiovascular diseases in 2012. According to the National Kidney Foundation, approximately 10% of the world’s population is affected by chronic kidney diseases. In October 2016, Vascular Solution Inc. received the approval from the U.S. Food and Drug Administration for fluent inflation devices which are used during cardiac procedures. Product approvals enabled the company strengthen its position in the market. However, alternatives of inflation devices and high cost of cardiac producers are likely to restrain the market.
Inflation Devices Market: Segmentation
The global inflation devices market can be segmented in terms of display type, capacity, application, end-user, and region. Based on display type, the market can be bifurcated into digital inflation devices and analogue inflation devices. In terms of capacity, the inflation devices market can be segregated into, 20ml, 30ml, and 60ml inflation devices. Based on application, the market can be categorized into urological procedure, interventional cardiology & radiology, peripheral vascular procedures, and gastroenterological procedures. The interventional cardiology & radiology segment is projected to expand due to the increase in prevalence of cardiovascular diseases. In terms of end-user, the inflation devices market can be divided into clinics, hospital, and ambulatory surgical centers.
Inflation Devices Market: Regional Analysis
The global inflation devices market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market due to factors such as increase in prevalence of chronic diseases due to lifestyle and dietary habits and presence of key market players. According to the American Heart Association, there were nearly 92.1 million people in the U.S living with cardiovascular diseases in 2018. According to the American College of Cardiology Foundation, cardiovascular disease is a leading cause of death in the U.S. and around 6.2 million people suffered heart failure between 2013 and 2016. Expansion of the market in Europe is anticipated to expand due to the increase in prevalence of cardiovascular and urological diseases. According to the European Heart Network AISBL, around 3.9 million deaths occur due to cardiovascular diseases in every year in Europe. The market in Asia Pacific is projected to expand at a rapid pace during the forecast period. Approximately 1% to 2% of people suffer from kidney stones each year in Germany. According to the British Association of Urological Surgeons, from January 2014 to December 2014, 2,042 procedures were estimated to be conducted in the U.K. Expansion of the market in the region is attributed due to rise in geriatric population with cardiovascular diseases.
Inflation Devices Market: Competitive Landscape
The global inflation devices market is highly fragmented due to the presence of a large number of market players. A large number of manufacturers constitute major share of the market in their respective regions. Prominent players operating in global inflation devices market include Merit Medical Systems, Teleflex Incorporated, BD, Argon Medical Devices, Inc., Acclarent, Inc., Terumo Medical Corporation, Boston Scientific Corporation, B. Braun Interventional Systems Inc., and CONMED Corporation.