Insufflation Devices Market to Reach Around USD 3.76 Billion by 2028: Grand View Research Inc.

 Insufflation Devices Market Growth & Trends

The global insufflation devices market size is expected to reach USD 3.76 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.3% from 2021 to 2028. Increasing adoption of minimally invasive surgeries, rapidly aging population, and rising number of laparoscopic procedures are among the major factors driving this market’s growth.

The COVID-19 outbreakhas caused the global implementation of strict measures to curbthe spread, which has led to the cancelation/delayof elective surgeries, including many laparoscopic procedures world wide. A large number of medical device manufacturing companies and global suppliers have been adversely affected during this time. However, with the abundance of deferred medical procedures in the pipeline, the market is likely to rebound and grow significantly over the forecast period.

Obesity or overweight are major health concerns that lead to a number of associated diseases or complications, such as diabetes and cardiovascular diseases. As per the WHO, in 2016, over 1.9 billion adults were overweight, out of which around 650 million people were obese and around 2.8 million people die each year as a result of being overweight/obese. Such instances are expected to increase the demand for bariatric procedures and other related surgeries, thereby propelling the market growth over the forecast period.

Moreover, growing patient preference for minimally invasive surgeries owing to the reduced risk and trauma associated with these procedures is expected to strengthen the growth of this market. Additionally, minimally invasive laparoscopic surgeries are increasingly being covered by health insurance providers in selected countries. For instance, for laparoscopic surgical operations, Medicare will cover up to 75% of the fee as listed in the Medicare Benefits Schedule. These factors have led to an increased preference for minimally invasive surgeries among patients.

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Insufflation Devices Market Report Highlights

• Based on application, the laparoscopic surgery segment dominated the market with a share of more than 35.0% in 2020
• On the basis of end use, the hospitals segment dominated the market with a share of more than 60.0% in 2020
• North America dominated the market with a revenue share of over 35.0% in 2020 owing to the increasing number of laparoscopic procedures and technological advancements
• In Asia Pacific, the market is anticipated to witness remarkable growth over the forecast period due to the presence of a large patient base suffering from chronic disorders and government initiatives for minimizing risks during the treatment

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Insufflation Devices Market Segmentation

Grand View Research has segmented the global insufflation devices market on the basis of application, end use, and region:

Insufflation Devices Application Outlook (Revenue, USD Million, 2016 - 2028)

• Laparoscopic Surgery
• Bariatric Surgery
• Cardiac Surgery
• Others

Insufflation Devices End-use Outlook (Revenue, USD Million, 2016 - 2028)

• Hospitals
• Clinics
• Ambulatory Surgical Centers

Insufflation Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Colombia
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Insufflation Devices Market

• Fujifilm
• Medtronic
• Stryker
• BD
• Olympus
• Braun Melsungen
• Smith & Nephew
• Karl Storz
• Steris
• CONMED
• Richard Wolf

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.