INFLATION DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

Inflation Devices Market Drivers

• Increasing prevalence of cardiovascular diseases: The rising prevalence of cardiovascular diseases such as coronary artery disease and heart failure is driving the demand for angioplasty procedures, which is subsequently fueling the growth of the inflation devices market. According to the World Health Organization (WHO), in June 2021, cardiovascular disease is the number one cause of death globally, responsible for over 17 million deaths per year.
• Favorable reimbursement scenario: The availability of reimbursement for angioplasty procedures is increasing the adoption of inflation devices. Public and private insurance providers are increasingly covering expenses related to cardiovascular treatments due to the risks associated with heart diseases.

• Rising minimally invasive surgeries: The shift from traditional open surgeries toward minimally invasive procedures is boosting the adoption of inflation devices used in balloon-based surgeries such as angioplasty. Minimally invasive surgeries reduce hospital stays and costs.

• Increasing healthcare expenditure: The growing healthcare spending by governments and individuals globally is leading to higher adoption of advanced cardiovascular devices and treatments, thereby driving the inflation devices market. According to Centers for Medicare & Medicaid Services, healthcare spending in the U.S. is estimated to reach US$6.2 trillion by 2028.

Inflation Devices Market Opportunities

• Growth prospects in emerging economies: The rising prevalence of cardiovascular diseases, along with improving healthcare infrastructure in developing nations such as India, China, Brazil, etc., is expected to create significant opportunities for inflation device manufacturers. A favorable regulatory scenario is also attracting key players to emerging markets.

• Development of smart inflation devices: Integration of technologies such as IoT, artificial intelligence, and machine learning into inflation devices can help improve patient monitoring and enable data-driven, precise inflation control. Companies are working on developing connected, smart inflation devices.

• Increasing adoption of disposable devices: The growing trend of using disposable devices to reduce cross-contamination risks presents lucrative opportunities for market players. Disposable inflation devices eliminate maintenance and sterilization costs.
• Expansion of application areas: The widening clinical applications of inflation devices in procedures such as balloon sinuplasty, airway dilation, balloon gastrointestinal procedures, etc. is creating new avenues for market growth.

Inflation Devices Market Restraints

• High cost of advanced inflation devices: The high cost of technologically advanced digital inflation devices, coupled with low awareness in developing regions, is restraining market growth to some extent. The complex integration process is an obstacle.

• Lack of trained professionals: The shortage of skilled cardiologists and technicians, especially in emerging economies, is hampering the adoption of inflation devices. Proper training is required to operate inflation devices efficiently.
• Stringent regulatory policies: The stringent approval and certification processes mandated by regulatory bodies like U.S. FDA and CE are challenging for manufacturers. Delayed approvals can restrain market growth.