The rising adoption of minimally invasive procedures, the presence of developed healthcare infrastructure in a majority of developed countries, the growing incidence of CVD, and the less-stringent approval procedures are contributing to the growth of the market. With the growth of the geriatric population, the prevalence of coronary artery disease is also expected to increase, which is a major target indication for interventional cardiology procedures that utilizes inflation device to inflate and deflate the balloon. Aforementioned key factors are likely to fuel growth of market over the forecast period.

[137 Pages Report] The global inflation device market is projected to reach USD 600 Million by 2024 from USD 480 Million in 2019, at a CAGR of 4.7% from 2019 to 2024.

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By capacity, the 60ml inflation device segment is expected to grow at the highest rate during the forecast period
Based on display type, the inflation device market is segmented into 20ml, 30ml, and 60ml inflation devices. The 60ml inflation devices segment is expected to grow at fastest CAGR during forecast period. These devices feature quick-latch mechanisms (enables one-handed deflation) and are designed to be easy to use, which has driven their adoption in pulmonary, gastroenterology, and otolaryngology procedures, as these procedures utilize comparatively larger-sized balloons and require more amounts of liquid for inflation.

The interventional cardiology segment was the largest contributor to the inflation devices market, by application in 2018
Based on application, the inflation device market is segmented interventional cardiology, intervention radiology, peripheral vascular procedures, urological procedures, gastroenterological procedures, and other applications. Among these, the interventional cardiology segment accounted for the largest share of the inflation device market in 2018. The rising geriatric population more prone to develop CVD, which is a major factor driving the adoption of interventional cardiology procedures that utilizes inflation devices. Moreover, growth in the number of new multi-specialty hospitals in developing countries offering advanced minimally invasive procedures, favourable reimbursement scenario for angioplasty procedures will further drive growth of segment over the forecast period.

By end user, the hospitals and clinics segment was the largest contributor to the inflation devices market in 2018
Based on end users, the global inflation device industry is segmented into hospitals and clinics; and ambulatory care centers. In 2018, the hospitals and clinics segment accounted for the largest market share majorly due to the growing number of hospitals and specialty clinics in emerging countries; increasing prevalence of target diseases; and large number of surgical and diagnostic procedures performed across these facilities.

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Key Market Players

The major players operating in the inflation device market include 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.