Inflation Devices Market is Owing to Rising Prevalence of Chronic Diseases

 

Inflation Devices Market
Inflation Devices Market

Inflation devices are medical instruments that are used in various therapeutic and diagnostic procedures such as angioplasty, colonoscopy and endoscopy. They play a crucial role in widening or dilating the internal passages or cavities of the body. Inflation devices help push open blocked or narrowed blood vessels to improve blood flow and relieve pressure and symptoms. These devices help insert or remove medical devices such as stents, catheters or balloons during surgical procedures. Rising prevalence of cardiovascular diseases, gastrointestinal disorders and respiratory diseases has boosted the demand for various minimally invasive surgeries which in turn is propelling the inflation devices market.

The global inflation devices market is estimated to be valued at US$ 5.35 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the inflation devices market are Bristol-Myers Squibb Co., Bayer AG, Johnson & Johnson Services Inc., Sanofi S.A., Novartis International AG, AstraZeneca plc., Daiichi Sankyo Co Ltd, Boehringer Ingelheim International GmbH, Pfizer Inc., and Merck KGaA. These players are focusing on new product launches, geographical expansions and mergers and acquisitions to strengthen their Inflation Devices Market Growth.

The increasing prevalence of chronic diseases such as cardiovascular diseases, gastrointestinal diseases and obesity has boosted the demand for minimally invasive surgeries worldwide creating significant growth opportunities for players in the inflation devices market.

Key players are expanding their operations in emerging regions of Asia Pacific, Latin America, and Middle East & Africa. Factors such as rising healthcare spending, growing medical tourism, increasing disposable incomes and expanding product portfolios geared towards local requirements are expected to drive the demand for inflation devices in these regions.

Market Drivers

- Rising prevalence of chronic diseases- The increasing incidence of chronic diseases such as cardiovascular diseases, respiratory diseases and gastrointestinal disorders is propelling the demand for therapeutic and diagnostic procedures which require inflation devices.

Market restraints

- Increasing adoption of alternative treatment methods- Alternative treatment methods such as drug therapies and open surgeries are gaining popularity over minimally invasive surgeries reducing the demand for inflation devices in certain therapeutic areas.

- Reimbursement issues- Lack of favorable reimbursement policies for new medical technologies and lack of insurance coverage for minimally invasive procedures in developing nations poses a major challenge for players in the inflation devices market.

Segment Analysis

The Inflation Devices market is dominated by the Disposable Inflation Devices sub segment. Disposable inflation devices are preferred more as they reduce the risk of infection and contamination between patients. Their single use nature ensures sterility which is important in medical procedures. These devices also help avoid the reprocessing costs associated with reusable inflators.

Global Analysis

The North America region holds the largest share in the Inflation Devices market currently. This is owing to factors such as rising prevalence of cardiovascular diseases, growing geriatric population and well developed healthcare system in the region. Availability of advanced medical facilities and reimbursement policies have further boosted the adoption of inflation devices. The Asia Pacific region is expected to grow at the fastest rate during the forecast period. Rising medical tourism industry along with growing healthcare expenditures in developing countries of China and India will drive the demand for inflation devices in the coming years.

Gets More Insights on, Inflation Devices Market


About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

 

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