Inflation Device Market worth $600 million by 2024

The inflation device market is projected to reach USD 600 Million by 2024 from USD 480 Million in 2019, at a Compound Annual Growth Rate (CAGR) of 4.7%. 

Rising adoption of balloon assisted surgeries that utilize inflation devices to inflate and deflate the balloon (such as angioplasty, angiography, balloon sinuplasty, catheter embolization) is the key factor fueling the demand for inflation devices. Moreover, growing healthcare expenditure, high patient awareness, and favorable reimbursement landscape in most of developed countries is also contributing to the market growth.

North America accounted for the largest share of the inflation devices market in 2019

The inflation devices market is segmented into four regional segments, namely, North America, Europe, Asia Pacific, and Rest of World. The growth of the geriatric and obese populations, which are more prone to cardiac disorders has boosted the adoption of diagnostic angiography and PCI procedures is the major factor driving the growth of this market. Moreover, the highly developed healthcare systems in the US and Canada and the presence of key inflation device manufacturers such as Merit Medical Systems, Medtronic, Cook Medical, CONMED Corporation, and Boston Scientific Corporation in the region have also contributed to the growth of this market.

The major players operating in the inflation devices market are Merit Medical Systems (US), Boston Scientific Corporation (US), Cardinal Health (US), CONMED Corporation (US), Medtronic plc (Ireland), Acclarent Inc. (US), Cook Medical (US), Atrion Corporation (US), Becton, Dickinson and Company (US), Terumo Medical Corporation (Japan),  B. Braun Melsungen AG (US), Olympus Corporation (Japan), Teleflex Incorporated (US), and US Endovascular (US), among others.