Global Ballon Inflation Devices Market is valued at approximately USD 560 million in 2022 and is anticipated to grow with a healthy growth rate of more than 5.8% over the forecast period 2023-2030. The global balloon inflation devices market is a part of the broader medical devices industry. These devices are used in various medical procedures, particularly in interventional cardiology and radiology, to inflate and deflate medical balloons. Medical balloons are used in procedures such as angioplasty, stent placement, and other minimally invasive surgeries to treat conditions such as coronary artery disease, peripheral vascular disease, and more. The demand for balloon inflation devices is closely linked to the prevalence of cardiovascular diseases worldwide. As these conditions continue to be a significant health concern, the need for related medical devices remains high. Also, the global aging population often leads to an increased incidence of cardiovascular diseases, which, in turn, can drive the demand for medical devices such as balloon inflation devices.
Interventional procedures, including angioplasty and stent implantation, are necessary for the treatment of CVDs, including coronary artery disease, peripheral artery disease, and valvular heart disease, which facilitate the use of balloon inflation devices. John Hopkins Medicine estimates that 850,000 angioplasties are carried out each year in the United States. While the American Heart Association Inc. estimates that every year in the United States, 600,000 coronary stents are implanted for percutaneous coronary procedures. Additionally, the market players may benefit financially from the rising incidence of cardiovascular disorders. The adoption of a favorable Medicare reimbursement scenario has a positive effect on balloon inflation devices. For instance, Medicare stated in February 2020 that it may pay for certain PCI procedures as an outpatient service in the United States. Furthermore, the trend towards minimally invasive procedures, which offer quicker recovery times and reduced patient trauma, has increased the demand for devices such as balloon inflation devices that are essential for these procedures. However, Stringent regulatory approval processes stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Ballon Inflation Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. In 2022, North America dominated the market. Hospitals, clinics, and other healthcare facilities are all well-developed and modernized throughout North America. Additionally, the high prevalence of CVDs in the area fuels a demand for balloon-inflating equipment. Additionally,, over the course of the projection period, Asia Pacific is anticipated to see the fastest CAGR. The expansion is brought on by rising healthcare costs, improvements in medical technology, and an increase in the prevalence of CVDs among the elderly population. In addition, China and India are among the top nations that produce medical devices to meet the expanding domestic need.
Major market player included in this report are:
Boston Scientific Corporation
Merit Medical Systems Inc.
Atrion Medical Products Inc
Becton, Dickson and Company
B. Braun Medical Inc.
US Endovascular, LLC
TZ Medical, Inc.
Recent Developments in the Market:
Ø In June 2023, SYNDEO Medical introduced the SATURN inflating device, which enables medical professionals to integrate the advantages of multiple products on a single platform.
Ø In November 2022, the basixALPHA inflation device, which enables one-handed operation, faster inflation, and less exertion qualities, was introduced by Merit Medical Systems, Inc. in the United States. This device allows for expediting angioplasty treatments.
Global Ballon Inflation Devices Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Display Type, Application, End Use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Display Type:
Peripheral Vascular Procedures
Hospitals & Clinics
Ambulatory Surgical Centers
Middle East & Africa
Rest of Middle East & Africa