PUBLISHER: Allied Market Research | PRODUCT CODE: 1566823
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566823
The angioplasty balloons market was valued at $2.6 billion in 2023, and is projected to reach $3.6 billion by 2033, growing at a CAGR of 3.4% from 2024 to 2033.
Angioplasty balloon is a minimally invasive endovascular device is used to open up blocked or narrowed blood vessels. This device enables to restore proper blood flow, alleviating the symptoms of coronary artery disease, heart attacks, and other cardiac diseases. The procedure is generally less expensive than open heart surgery, making it a cost-effective option for many patients.
The growth of the global angioplasty balloons market is driven by alarming increase in prevalence of cardiovascular diseases. According to the World Heart Federation, cardiovascular diseases are the leading cause of death worldwide as compared to any other cause. Approximately 20.5 million die every year due to cardiovascular diseases. Of these deaths, 85% are due to coronary heart diseases (e.g., heart attacks) and cerebrovascular diseases (e.g., strokes). Moreover, increase in geriatric population significantly contributes toward the growth of the market. This is attributed to the fact that aged individuals are highly susceptible to cardiac diseases. As per the article published by the Revista Espanola de Cardiologia-the official publication of the Spanish Society of Cardiology-coronary heart disease is the leading cause of death in 81% of adults aged 65 years or older. Furthermore, increase in preference for minimally invasive procedures among patients and healthcare providers like angioplasty due to quicker recovery times and reduced hospital stays foster the growth of the market. However, high cost of angioplasty and complications associated with angioplasty, such as arterial dissection or restenosis hamper the market growth. On the contrary, continuous improvements in balloon design, materials, and imaging technologies will enhance the efficacy and safety of angioplasty procedures, which are expected to offer remunerative opportunities for the expansion of the market during the forecast period.
The global angioplasty balloons market is segmented into type, application, end user, and region. On the basis of type, the market is classified into normal balloons, drug eluting balloons, cutting balloons, and scoring balloons. By application, it is bifurcated into peripheral and coronary. Depending on end user, it is segregated into ASCs, hospitals, and Cath labs. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of type, the normal balloon segment was the major revenue generator in 2023.
By application, the coronary segment accounted for the largest share in 2023 in angioplasty balloons market.
Depending on end user, the ASCs segment held the was the key shareholder in 2023.
Region wise, North America generated the highest revenue in 2023 and is expected to dominate the market during the forecast period.
Competition Analysis
Competitive analysis and profiles of the major players in the global angioplasty balloons market include Abbott Laboratories, B. Braun Melsungen AG, Biotronik SE & Co. KG, Boston Scientific Corporation, C. R. Bard, Inc., Cardinal Health, Inc, MEDTRONIC PLC., MicroPort Scientific Corporation, Terumo Corporation, and THE SPECTRANETICS CORPORATION. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the global market.
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