According to a new report published by Allied Market Research, titled, “Inflation Devices Market by Display Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018–2026,” the global inflation devices market was valued at $517 million in 2018, and is expected to reach $770 million by 2026, registering a CAGR of 5.1% from 2019 to 2026.
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Inflation devices are employed to measure pressure in stents and balloons during different surgeries. These devices are of two types, which include analogue inflation device and digital inflation devices. These inflation devices are different from each other on the basis of display, which is incorporated into the equipment. For instance, analogue inflation devices have a scale with a needle, which shows the reading of the pressure applied. This reading is then read manually by a trained professionals. However, the digital analogue devices have an automatic system, which is connected to a software. Digital inflation devices show readings on a display which can be easily read in low light settings due to their luminescent background. Furthermore, these devices are extensively employed in the surgical procedures such as cardiac surgeries, gastroenterological surgeries, and urological surgeries.
Leading market players analyzed in the research Argon Medical Devices Inc., Beckton Dickson And Company, Boston Scientific Corporation, ConMed Corporation., Johnson & Johnson (Acclarent), Medtronic Plc., Merit Medical System, Olympus Corporation, Teleflex Inc., and Terumo Corporation.
The growth of the global inflation devices market is driven by the increase in the adoption of minimally invasive procedures, for example, these surgical procedures require smaller incisions, resulting in less scarring. In addition, these operations have a higher accuracy rate compared to traditional open operations. That is why these surgeries are preferred by both patients and healthcare providers. In addition, factors such as the increase in the prevalence of cardiovascular diseases and the increase in the number of surgical procedures performed worldwide. Additionally, the rise in healthcare spending across the globe is another factor contributing to the growth of the market. Moreover, the growing geriatric population across the globe acts as a major driver of the global inflation device market. However, costly surgical procedures are restraining the market growth.
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Key Findings of the Study:
- Analogue inflation device occupied more than two-thirds share of the global Inflation devices market in 2018.
- North America accounted for one-thirds market share in 2018, and is expected to maintain this trend throughout the forecast period.
- The urological procedure in the application segment is anticipated to grow at a CAGR of 6.4% from 2018 to 2026.
- The hospitals and clinics segment accounted for three-fourths share of the market in 2018.
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