Global Angioplasty Balloons Market is expected to grow at a CAGR of 3.61% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title 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.
As per the report, the global angioplasty balloons marketis 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.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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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.
About the report:
The global Angioplasty Balloons market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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