PUBLISHER: The Business Research Company | PRODUCT CODE: 1509578
PUBLISHER: The Business Research Company | PRODUCT CODE: 1509578
Angioplasty balloons are medical tools utilized to alleviate narrowed or obstructed blood vessels within the body. Commonly employed in addressing conditions such as coronary artery disease and peripheral artery disease, these balloons function by expanding within the artery, exerting pressure on plaque deposits to restore blood flow.
Angioplasty balloons come in several types, including normal balloons, scoring balloons, drug-eluting balloons, and cutting balloons. Normal balloons represent the fundamental angioplasty devices lacking specialized features, intended for the dilation of narrowed or blocked blood vessels through inflation. These balloons are fabricated from various materials such as non-compliant and semi-compliant substances. They find application across a spectrum of procedures, including coronary and peripheral angioplasty, and are utilized by diverse end-users including hospitals, specialty clinics, catheterization laboratories, ambulatory surgical centers, among others.
The angioplasty balloons market research report is one of a series of new reports from The Business Research Company that provides angioplasty balloons market statistics, including angioplasty balloons industry global market size, regional shares, competitors with an angioplasty balloons market share, detailed angioplasty balloons market segments, market trends and opportunities, and any further data you may need to thrive in the angioplasty balloons industry. This angioplasty balloons market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The angioplasty balloons market size has grown steadily in recent years. It will grow from $2.6 billion in 2023 to $2.73 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. In the historical period, growth can be attributed to several factors including the rise in clinical trials, reduced regulatory obstacles, increased physician training programs, broader reimbursement coverage, and heightened patient awareness and education.
The angioplasty balloon market size is expected to see steady growth in the next few years. It will grow to $3.31 billion in 2028 at a compound annual growth rate (CAGR) of 5%. Looking ahead to the forecast period, growth is anticipated due to factors such as an aging population, heightened prevalence of cardiovascular diseases, the expansion of healthcare infrastructure in emerging markets, greater adoption of minimally invasive procedures, and increased demand for interventional cardiology services. Significant trends expected in this period include the adoption of personalized treatment approaches, integration of advanced imaging technologies, a shift towards outpatient procedures, the expansion of telemedicine for post-operative care, and a focus on cost-effective healthcare solutions.
The angioplasty balloons market is poised for growth, driven by the increasing incidence of cardiovascular diseases. Cardiovascular disease encompasses a range of conditions affecting the heart and blood vessels, often leading to serious complications such as heart attacks or strokes. Factors contributing to the rising prevalence of cardiovascular disease include sedentary lifestyles, unhealthy dietary habits, escalating obesity rates, and aging populations. Angioplasty balloons play a crucial role in the management of cardiovascular disease by facilitating the dilation of narrowed or blocked blood vessels, thereby restoring proper blood flow and mitigating the risk of complications such as heart attacks or strokes. For instance, data from the Centers for Disease Control and Prevention indicates a slight increase in the percentage of coronary heart disease among adults aged 18 and over, rising from 4.6% in 2020 to 4.9% in 2021. Consequently, the escalating incidence of cardiovascular diseases propels the growth of the angioplasty balloons market.
Key players in the angioplasty balloons market are directing their efforts towards the development of products featuring PowerTrac technology to gain a competitive edge. PowerTrac technology represents an innovative system employed in medical devices, particularly angioplasty balloons, to enhance tracking and pushability through tortuous vessels during procedures. For example, in July 2021, Medtronic Plc, an Ireland-based medical technology company, introduced the Prevail drug-coated balloon (DCB) catheter in Europe for the treatment of coronary artery disease. Utilizing PowerTrac technology and a hydrophilic coating, the Prevail DCB offers superior deliverability and twice the pushability, enabling greater control in tortuous anatomies. By utilizing a fast-absorbing drug, paclitaxel, the Prevail DCB effectively treats de novo lesions, small vessel disease, and in-stent restenosis (ISR) without necessitating a permanent implant, making it a preferred option in situations where DES implantation is unsuitable or technically challenging.
In December 2022, Johnson & Johnson, a US-based healthcare products company, completed the acquisition of Abiomed Inc. for $16.6 billion. This strategic move is geared towards expanding Johnson & Johnson's medtech portfolio, advancing heart recovery solutions, accelerating growth, and enhancing patient care by leveraging Abiomed's innovative cardiovascular technologies and expertise. Abiomed Inc., a US-based provider, manufactures the SupraCor Balloon Catheter, utilized in angioplasty procedures, thus complementing Johnson & Johnson's commitment to addressing the evolving needs of cardiovascular patients.
Major companies operating in the angioplasty balloons market are Johnson & Johnsona, Abbott Laboratories, Medtronic Plc, Becton Dickinson, Koninklijke Philips N.V, Boston Scientific Corporation, B. Braun SE, Terumo Corporation, Cook Medical, Biotronik SE, Merit Medical Systems Inc, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corporation, AngioDynamics, Cordis, SurModics, iVascular, Hexacath, Balton Sp, Cardionovum, QualiMed Innovative Medizinprodukte GmbH, Acrostak, Panmed US Inc., Translumina GmbH, Concept Medical Inc.
North America was the largest region in the angioplasty balloons market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the angioplasty balloons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the angioplasty balloons market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The angioplasty balloons market consists of sales of rapid exchange balloons, drug-eluting stent balloons, and microcatheter-compatible balloons. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Angioplasty Balloons Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on angioplasty balloons market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for angioplasty balloons? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The angioplasty balloons market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.