Rising prevalence of cardiovascular diseases and increased preference for minimal invasive procedures with higher success rate to drive the angioplasty balloons market growth
Rising prevalence of cardiovascular diseases and increased preference for minimal invasive procedures with higher success rate to drive the angioplasty balloons market growth
Fact.MR, New York: Rising burden of cardiovascular diseases (CVD) and preference towards minimally invasive surgeries among geriatric population are some of the factors propelling the growth of angioplasty balloons market. Balloon angioplasty has become the most preferred method of choice to treat patients suffering from coronary and artery diseases. Increasing cardiac diseases across the globe and technological advancement in the surgery procedure has increased the demand for drug-coated balloon angioplasty. Higher success rates, minimal invasion and speedy recovery are some of the factors balloon angioplasty is popular among patients and healthcare professionals.
According to Fact.MR, drug-coated balloon angioplasty, in particular, is gaining traction due to minimal post-surgery care, precision and high accuracy. Increasing number of patients with coronary heart diseases opt for the drug-coated balloon angioplasty due to the benefits like less scarring and reduced side-effects from the surgery. Thereby, accelerating the growth of angioplasty balloons market.
Backed by these factors, Fact.MR forecasts, the global angioplasty balloons market is expected to grow at a CAGR of 3.5% through 2021 and beyond.
“Rise in geriatric population suffering from CVD and clinical development aimed at improving current technology are creating growth opportunities for angioplasty balloons devices manufacturers,” says the Fact.MR analyst.
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Key Takeaways
- Semi-compliant balloons expected to hold over 3/4th of the global market share
- Drug coated balloon segment expected to gain traction in the upcoming decade backed by their accuracy and precision
- Demand for cutting balloons anticipated to decline due to the high risk factor of the device
- United States expected to lead the North American angioplasty balloons market through 2021 and beyond
- Increasing awareness and technological advancement in treatment options to spur the growth in UK and Germany
- Countries such as India, China, Japan and Australia expected to provide lucrative growth opportunities backed by the surging demand of balloon angioplasty procedure
Prominent Drivers
- Increased burden of cardiovascular diseases and preference for minimally invasive surgeries has accelerated the demand for balloon angioplasty
- Significant growth in geriatric population suffering from lifestyle disorder diseases, such as heart failure and atherosclerosis, is likely to increase demand for balloon angioplasty
- Advantages such as reduced surgical pain, less scarring, and fast recovery are expected to impact the market demand positively
Key Restraints
- High cost associated with the procedure is likely to act as a restraint
- Post-operational complications such as coronary artery damage and abnormal heart rhythms are expected to hamper the growth of the market
Discover more about the Angioplasty balloons market with 19 figures, 9 data tables and the table of contents.
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Competitive Landscape
Abbott Vascular, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Cook Medical Inc., Johnson & Johnson (Cordis Corporation), C.R. Bard Inc., ENDOCOR GmbH, Medtronic PLC, NATEC Medical Limited, and Spectranetics Corporation among others are some of the prominent players listed by Fact.MR. Key players are focusing to improve their existing products to retain their dominance in the industry. Top manufacturers are also focusing on research and development to improve product quality and reduce manufacturing cost for developing advanced products to improve efficiency and patients’ safety.
For instance, on 17th March 2021, Medtronic announced the launch of its Chameleon percutaneous transluminal angioplasty balloon catheter in Europe for the use in native or synthetic arteriovenous dialysis fistulae as well as for infusion of therapeutic fluids via injection port located proximal to the balloon.
Likewise, on 8th January 2021, OrbusNeich Medical Co. Ltd., announced the clearance of JADE® over-the-wire non-compliant peripheral balloon dilatation catheter series by the United States Food and Drug Administration.
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More Insights on the Angioplasty Balloons Market
Fact.MR has published a recent report on global angioplasty balloons market for the upcoming decade. In its latest report, Fact.MR provides a detailed analysis on its ongoing and upcoming trends, opportunities, developments and challenges that the market is expected to witness through 2021 and beyond. To understand the market scenario better, the market is segmented on the basis of balloon type (normal, drug-coated, cutting, and scoring), material (non-compliant and semi-compliant), and geography (North America, Europe, Asia Pacific, Latin America, Middle East & Africa and the rest of the world).
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Source: Fact.MR