As per the report published by Fior Markets, the global angioplasty balloons market is expected to grow from USD 2,131.34 Million in 2017 to USD 2,834.53 Million by 2025 at a CAGR of 3.61% during the forecast period from 2018-2025. North America market held the largest market share and is expected to witness significant growth over the next decade. This growth can be attributed to rising cases of cardiovascular and lifestyle-associated disorders and high adoption rate of novel technologies are some of the factors that led to the growth of angioplasty balloons market in this region.
Global Angioplasty Balloons Market by Product Type (Normal Balloon Catheter, Drug-Eluting Balloons, Cutting Balloon Catheter, Scoring Balloon Catheter), Material, Application, End User, Region” and Global Forecast 2018-2025.
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Balloon angioplasty is a minimally invasive procedure performed to widen narrowed arteries. These balloon catheters flatten the plaque and ensures sufficient supply of oxygen rich blood in the affected areas of the heart. Rapidly growing elderly population and rising prevalence of heart related diseases are boosting the growth of the market. For instance, According to the report of Centers for Disease Control and Prevention (CDC), about 610,000 people die due to heart disease annually, in the United States. More than 15 million Americans suffer from coronary heart disease (CHD), which is considered as the most common type of heart disease. Technological advancements such as coated balloons and international radiology are making significant contribution to make the procedure minimally invasive.
- The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The angioplasty balloons market is analysed on the basis of value (USD Million).
- The study delivers a comprehensive analysis of global angioplasty balloons market by type, material type, application, end user and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global angioplasty balloons market. This report incorporates the industry analysis which is focused on providing an extensive view of the angioplasty balloons market.
- The study also includes attractiveness analysis of type, material type, application, end user, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the angioplasty balloons market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
Major market players in the industry include Boston Scientific Corporation, Medtronic PLC, Abbott Inc., Johnson & Johnson, C.R. Bard Inc, Spectranetics, Cardinal Health Inc., BIOTRONIK SE & Co.KG, Cook Medical Inc, ENDOCOR GmbH, B. Braun Melsungen AG, Terumo Corporation, Koninklijke Philips, Covidien, Cordis Corporation, Thomas Medical, Inc.among others. Major market players are estimated to augment the market during the forecast years through partnerships or collaborations and product and technological developments. For instance, in 2014, Medtronic PLC launched its drug-coated balloon IN.PACT Admiral for the treatment of peripheral artery disease. In 2018, Cagent vascular expanded its serranator family of percutaneous transluminal angioplasty (PTA) serration balloon catheters. This is intended to expand balloon catheters product range.
The type segment is classified into normal balloon catheter, drug-eluting balloons, cutting balloon catheter, scoring balloon catheter. Drug-eluting balloons (DEBs) is expected to be the fastest-growing type segment with the highest CAGR of 5.86% in the forecast period. New product launch, advantages over the standard balloon and low cost as compared to conventional stents, these are the key factors to drive the demand of the segment. Material segment is divided into non-compliant material and semi-compliant material. Application segment is divided into peripheral and coronary. Coronary segment is playing a chief role in shaping business growth. The end user segment includes ambulatory surgery centers (ascs), hospitals and catheterization laboratories. Ambulatory surgery centers held the largest share of 36.28% in 2017 owing to huge demand for the treatments in these settings.
Angioplasty is a minimally invasive procedure hence preferred by surgeons over high-cost stent placements is a major factor driving the market. In addition, adoption of advanced technologies are fuelling the growth of market. Reimbursement issues and alternatives choices like bypass surgery, the risk of infection may hamper the growth of market. However, technological advancements, increasing incidences of peripheral vascular diseases and increasing R&D are expected to boost the market in coming years.
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