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Inflation Device Market - Global Forecasts to 2024: Focus on Interventional Cardiology, Radiology, Peripheral Vascular, & Urology

DUBLIN, May 17, 2019 /PRNewswire/ -- The "Inflation Device Market by Display Type (Analog & Digital), Capacity (20ml, 30ml, 60ml), Application (Interventional Cardiology, Radiology, Peripheral Vascular, Urology), End User (Hospitals & Clinics, Ambulatory Surgery Centers) - Forecasts to 2024" report has been added to ResearchAndMarkets.com's offering. 

The global inflation devices market is projected to reach USD 600 Million by 2024 from USD 480 Million in 2019, at a CAGR of 4.7% from 2019 to 2024.

The increasing incidence of target diseases, favorable medical reimbursement for minimally invasive procedures in developed countries, rising demand of minimally invasive surgical procedures across major countries, and increasing applications of inflation devices are the key factors driving the growth of inflation devices market. Government initiatives to control the burden of healthcare-associated infections (HAI) in developed countries and increasing healthcare expenditure across emerging markets are further assisting market growth.

Inflation devices are used to monitor inflation, control pressure, and deflate balloons within vessels during angioplasty. Inflation devices are used extensively during intervention cardiology, intervention radiology, and peripheral vascular surgical procedures such as angiography, angioplasty, thrombosis, embolization.

The growth of this market is driven by the rising patient preference for minimally invasive procedures, increasing target patient population (especially the geriatric population), and favorable reimbursement scenario for minimally invasive procedures. However, the effectiveness of first-line alternative treatments and the high rate of reuse and reprocessing of inflation devices in developing economies are expected to limit the adoption of inflation devices.

Emerging economies such as India, China, and South Korea, along with developed markets such as Japan and Australia, are offering high-growth opportunities for market players in the field of interventional cardiology. The Asia Pacific accounted for a share of 22.1% of the global inflation devices market in 2018 and is expected to grow at the highest CAGR of 6.3% during the forecast period.

The modernization of healthcare infrastructure, increasing number of surgical and diagnostic procedures performed in the region (coupled with the growing burden of target diseases), rising penetration of key market players into APAC countries such as India and Malaysia, and rising adoption of inflation devices due to their decreasing costs are the major factors driving the growth of this regional market.

Market Dynamics

Drivers

  • Rising Geriatric Population
  • Increasing Preference for Minimally Invasive Surgeries
  • Favorable Reimbursement Scenario for Cardiovascular Procedures

Restraints

  • Availability of Effective Alternative Treatments
  • High Rate of Reprocessing Inflation Devices

Opportunities

  • Emerging Economies Offer High-Growth Potential
  • Rising Awareness About Hospital-Acquired Infections and the Rising Adoption of Disposable Accessories

Challenges

  • Product Recalls
  • Presence of Local Manufacturers and Pricing Pressure

Companies Mentioned

  • Acclarent, Inc. (Subsidiary of Johnson & Johnson)
  • Advanced Lifesciences Pvt. Ltd.
  • Atrion Corporation
  • B. Braun Melsungen AG
  • Becton, Dickinson and Company
  • Boston Scientific Corporation
  • Cardinal Health
  • Conmed Corporation
  • Cook Medical
  • Medtronic PLC
  • Merit Medical Systems
  • Olympus Corporation
  • Teleflex Incorporated
  • Terumo Medical Corporation
  • US Endovascular

For more information about this report visit https://www.researchandmarkets.com/r/dvevq7

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