Balloon Inflation Devices Industry

The global balloon inflation devices market size is expected to reach USD 877.15 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 5.8% from 2023 to 2030. The increasing prevalence of Cardiovascular Diseases (CVDs), adoption of advanced technologies in the healthcare system, growing minimally invasive procedures, and rising geriatric population are the key factors for industry growth. In addition, the growing geriatric population is likely to develop coronary artery diseases, which propels balloon inflation devices as they are key in performing interventional cardiology operations. The increasing prevalence of CVDs across regions is anticipated to propel the market growth.

The conditions, such as peripheral, coronary, and valvular heart diseases, are the key components of CVDs aiding the need for inflation devices. The following conditions require invasive surgical treatments, such as angioplasty and stent placements, which promote the use of balloon inflation products. According to the American College of Cardiology Foundation, an estimated 1.2 million angioplasties are performed in the U.S. each year. The global market was disrupted during the COVID-19 pandemic in 2020 which affected the manufacturing and transportation of these devices. Furthermore, elective procedures were delayed or canceled, which hampered the market growth.

Healthcare facilities prioritized COVID-19 patients, leading to a decrease in the number of interventional procedures performed. According to American Heart Association, Inc., a 49% fall was noticed in percutaneous coronary intervention (PCI) in the UK after March 2020. A change in the federal reimbursement scenario in the U.S. is expected to have a positive impact on balloon inflation devices. Medicare announced to cover several types of PCI interventions as an outpatient service in the U.S. Moreover, the Centers for Medicare & Medicaid Services (CMS) estimated that 5% of the cost can be saved by shifting coronary interventions to ambulatory surgical centers (ASCs) from hospitals.

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Balloon Inflation Devices Market Segments Highlights:

  • The analog display type segment held the largest revenue share in 2022 due to easy availability, established medical literature, and high preference amongst healthcare providers for analog devices
  • Based on application, the market is segmented into interventional cardiology, interventional radiology, peripheral vascular procedures, gastroenterology procedures, urology procedures, and others
  • The interventional cardiology application segment held the largest revenue share in 2022 due to the extensive application of angioplasties and stent placements to treat CVD conditions.
  • Based on end-use, the market has been further categorized into hospitals & clinics and ASCs
  • The hospitals & clinics segment accounted for the largest revenue share in 2022. The segment's growth is primarily attributed to the high number of surgeries performed and the availability of skilled professionals in hospitals
  • North America dominated the market and held the largest revenue share of over 37.41% in 2022 owing to the favorable reimbursement scenario, high geriatric population, and rise in prevalence of CVDs

Balloon Inflation Devices Market Report Segmentation

Grand View Research has segmented the global balloon inflation devices marketbased on display type, application, end-use, and region:

Balloon Inflation Devices Display Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Analog Display
  • Digital Display

Balloon Inflation Devices Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Interventional Cardiology
  • Interventional Radiology
  • Peripheral Vascular Procedures
  • Gastroenterology Procedures
  • Urology Procedures
  • Others

Balloon Inflation Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals & Clinics
  • Ambulatory Surgical Centers

Balloon Inflation Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Sweden
    • Norway
    • Denmark
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Thailand
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • UAE
    • Kuwait

Key Balloon Inflation Devices Company Insights

  • Boston Scientific Corporation
  • Merit Medical Systems
  • CONMED Corp.
  • Medtronic
  • Cook
  • Atrion Medical
  • BD
  • Braun Medical Inc.
  • US Endovascular, LLC
  • TZ Medical, Inc.

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