PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454121
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454121
PTA Balloon Catheter Market size was valued at USD 2,765 Million in 2023, expanding at a CAGR of 8.4% from 2024 to 2032.
Percutaneous transluminal angioplasty is known as PTA. An inflating balloon is attached to the tip of a PTA balloon catheter, which is used in minimally invasive catheterization procedures. The goal of the treatment is to widen a vessel's opening. The deflated balloon is placed in the constricted area, inflated briefly, and then flattened once again in preparation for removal.
PTA Balloon Catheter Market- Market Dynamics
Growing prevalence of cardiovascular disease to propel market demand
The growing prevalence of cardiovascular disease is expected to propel the PTA balloon catheter market over the projected period. PTA balloon catheters are primarily used to treat arterial blockages or stenoses. Common indications for their use include coronary artery disease (CAD), peripheral artery disease (PAD), and renal artery stenosis, among others. These conditions can lead to symptoms such as chest pain (angina), leg pain while walking (claudication), or hypertension. For instance, according to the data published by National Institutes of Health, it is anticipated that the number of fatalities in India from CVD would increase from 2.26 million in 1990 to 4.77 million in 2020. Over the past few decades, estimates of the prevalence of coronary heart disease in India have varied, with figures ranging from 1.6% to 7.4% in rural areas and from 1% to 13.2% in metropolitan areas. Thus, the aforementioned stats drive the market growth.
PTA Balloon Catheter Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.4% over the forecast period (2024-2032)
Based on material type segmentation, the nylon segment is expected to capture a significant market share during the forecast period
Based on the application segmentation, the peripheral artery disease segment held the largest market share in 2023
Based on end-use segmentation, the hospitals segment is expected to lead the market over the projected period
Based on region, North America was the leading revenue generator in 2023
The Global PTA Balloon Catheter Market is segmented based on Material Type, Application, End-use, and Region.
Based on the material type, the market is categorized into polyurethane, nylon and others. The nylon segment is expected to capture a significant market share during the forecast period because of its special qualities that allow it to be used in medicinal applications. One of these characteristics is that when inflated, it may expand considerably. High-pressure nylon balloons have a stretching range of 100% to 800%, which enables them to completely enclose or cover the anatomy. This elasticity lets the balloon conform to the contour of the vessel being treated, which is especially helpful in situations when the balloon needs to bridge a lesion.
Based on the application, the market is divided into coronary artery disease and peripheral artery disease. The peripheral artery disease held the largest market share in 2023 and is expected to continue the same pattern during the forecast period owing to the high prevalence of disease. According to the AHA Journals, more than 230 million individuals worldwide suffer from atherosclerotic lower extremity peripheral artery disease (PAD), which is becoming more widely acknowledged as a significant contributor to cardiovascular morbidity and death.
Based on the end-use, the industry is divided into ambulatory surgical centers, hospital and others. The hospitals segment is expected to lead the market over the projected period owing to large pool of patients and the presence of advanced technologies.
PTA Balloon Catheter Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to lead the PTA Balloon Catheter market during the forecast period. This is explained by the existence of many important manufacturers, the introduction of new, high-tech equipment, and the advantageous reimbursement rules.
The key players operating in the market are B. Braun Melsungen AG, Abbot, Cook Medical, Medtronic plc, Terumo Corporation, Cardinal Health, Boston Scientific Corporation, Natec Medical, AndraTec, Biotronik, Koninklijke Philips, Becton and Cardionovum GmbH. To obtain access to new markets, market players are continuously pursuing a variety of strategic initiatives, including the creation of new products, funding and investments, mergers and acquisitions, and other strategic partnerships.
In June 2023, in the US and Canada, Cook Medical introduced the Advance Serenity hydrophilic percutaneous transluminal angioplasty (PTA) balloon catheter. Cook Medical distributes the product, which is made by Surmodics.
GLOBAL PTA BALLOON CATHETER MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
B. Braun Melsungen AG
Abbot
Cook Medical
Medtronic plc
Terumo Corporation
Cardinal Health
Boston Scientific Corporation
Natec Medical
AndraTec
Biotronik
Koninklijke Philips
BD
Cardionovum GmbH