Balloon Inflation Device Market: Introduction
Inflation devices are digital devices with analogue ergonomic system. These devices are used to measure the pressure in stents and balloons during 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 & a connected tube with rotatable adaptor.
Balloon inflation devices are used for the inflation of angioplasty devices. It has a high-pressure tube with an analog pressure gauge with a handle. The inflation market is expanding at a significant pace due to the rise in cardiovascular diseases.
The global balloon inflation device market is expanding cumulatively owing to the increase in usage of minimally invasive procedures and presence of well-equipped medical facilities in the majority of developed countries. Furthermore, the rise in frequency of cardiovascular disorders, as well as less stringent approval procedures, are expected to augment the demand for balloon inflation devices. Incidences of coronary artery disease, which is one of the major causes of interventional cardiology operations, are expected to rise with the growth of geriatric population. An inflation device is used to both inflate and deflate the balloon in this operation. The aforementioned primary reasons are projected to support the worldwide inflation devices industry in the next few years.
Key Drivers and Opportunities of Global Balloon Inflation Device Market
The analogue display inflation devices sector is likely to take up a larger portion of the inflation devices market. The low cost and portability of analogue inflation devices account for this segment’s revenue dominance. Additionally, the market is expanding due to a rise in the usage of analogue inflation devices by patients as opposed to digital inflation devices.
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Majority of hospital staff were transferred to Covid wards during the COVID-19 pandemic. Consequently, a number of surgical procedures were postponed. Surgeries were carried out only in the direst circumstances. Further surgeries have been postponed to avoid cross-contamination. Therefore, demand for inflation devices has decreased. Demand is expected to progressively increase as hospitals continue to undertake surgical procedures on a regular basis.
R&D and manufacturing activities have been interrupted due to factory closures during the lockdown
Rise in geriatric population across the globe is a major driver of the global balloon inflation devices market. Furthermore, expensive surgical procedures are restraining the market.
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North America to Capture Major Share of Balloon Inflation Device Market
The global balloon inflation device market was dominated by North America in 2018. However, APAC is expected to expand at the fastest CAGR during the forecast period. Japan, China, India, and the Rest of Asia Pacific make up this regional section. Rise in number of minimally invasive surgical operations, building healthcare infrastructure, increased awareness of HAIs and the usage of disposable devices, and the growing use of minimally invasive treatments are all driving the market.
Asia Pacific is expected to expand at the fastest rate throughout the forecast period due to an increase in healthcare expenditure in the region. Furthermore, factors such as the presence of a large patient population, as well as technical advances, and increased knowledge about the use of inflation devices in Asia Pacific, create significant prospects for main competitors operating in the inflation devices market. The balloon inflation device market in the region is expanding due to the aforementioned considerations.
Major companies operating in the market are taking deliberate steps to expand their presence in rising APAC countries, such as China and India, in order to take advantage of development prospects in these markets, which is anticipated to boost the market.
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Global Key Players Operating in Balloon Inflation Device Market
The global balloon inflation device market is fragmented due to the presence of international as well as local players. A large number of manufacturers hold major shares in their respective regions. Demand for balloon inflation devices has increased in emerging as well as developed markets due to rise in awareness about technologically advanced products. Growth strategies adopted by leading players are likely to drive the global market. Key players operating in the global balloon inflation device market are listed below:
- Johnson & Johnson
- Boston Scientific Corporation
- LEPU Medical
- Nipro Canada
- Advin Healthcare
- Kossel Medtech
- Cardinal Health
- Conmed Corporation
- Medtronic Plc.
- Acclarent, Inc.
- Transhealthcare
- Translumina
- Dolphin Life Sciences
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