PTA Balloon Catheter Market To Find Better Growth with US$ 2,038.6 Million By 2026 | CAGR: 6.8%: Coherent Market Insights
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Global PTA Balloon Catheter Market, by Material Type (Polyurethane, Nylon, and Others), by Application (Coronary Artery Disease and Peripheral Vascular Disease), by End User (Hospitals and Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 1,127.7 million in 2017 and is projected to exhibit a CAGR of 6.8% over the forecast period (2019 – 2026), as highlighted in a new report published by Coherent Market Insights.
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Rising prevalence of urological and cardiovascular diseases is expected to drive growth of the PTA balloon catheter market
The global PTA balloon catheter market growth is driven is by rising number of cardiovascular diseases and urological diseases. Moreover, the market growth is fueled by rising number of strategies such as product approvals, product launches, and mergers and acquisitions adopted by players in the market. For instance, in November 2015, SurModics, Inc. (Nasdaq: SRDX), a leading provider of medical device and in vitrodiagnostic technologies, announced that it acquired Creagh Medical Ltd., an innovative developer and manufacturer of percutaneous transluminal angioplasty (PTA) balloon catheters. Through this acquisition, SurModics will move a step forward in its strategy to transform its medical device business from being a provider of coating technologies, to offering whole-product solutions to medical device customers in the large and growing global interventional vascular market.
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For instance, in December 2016, BrosMed announced the U.S FDA 510(k) clearance and launch of its Hermes NC 0.035 OTW PTA, Achilles NC 0.018 OTW PTA, and Castor NC 0.014 OTW PTA balloon dilatation catheter for the treatment of patients with peripheral arterial diseases. Furthermore, in April 2019, Becton, Dickinson and Company announced the launch of UltraScore 014 focused force percutaneous transluminal angioplasty (PTA) balloon. The UltraScore balloon is intended to dilate stenoses in the iliac, femoral, ilio-femoral, popliteal, infra-popliteal and renal arteries, and for the treatment of obstructive lesions of native or synthetic arteriovenous dialysis fistulae.
However, few class 1 recalls have been identified by the FDA. The use of these devices could cause serious injuries or death. This is expected to hamper the market growth. For instance, in May 2019, Cook Medical recalled the Advance Enforcer 35 Focal Force PTA balloon catheter due to the balloon bursting below the rated burst pressure.
Browse 32 Market Data Tables and 20 Figures spread through 178 Pages and in-depth TOC on “PTA Balloon Catheter Market”- Global Forecast to 2026, by Material Type (Polyurethane, Nylon, and Others), By Application (Coronary Artery Disease and Peripheral Vascular Disease), By End User (Hospitals or Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Furthermore, high potency PTA balloon catheter are expected to provide manufacturers with growth opportunity and rising demand for angioplasty surgery is expected to fuel growth of the PTA balloon catheter market growth. Moreover, in December 2017, iVascular announced the release of new Oceanus 14 Pro PTA balloon catheter, which received CE mark approval to dilate stenoses in femoral, popliteal, and infrapopliteal arteries, and for the treatment of obstructive lesions in arteriovenous dialysis fistulae.
Key Takeaways of the PTA balloon catheter Market:
- The global PTA balloon catheter market is expected to exhibit a CAGR of 6.8% over the forecast period. This growth is attributed to rising demand for high potency PTA balloon catheters, increasing demand for PTA balloon catheter manufacturing, and rising prevalence of cardiovascular disease.
- Among application, peripheral vascular disease segment held dominant position in the PTA balloon catheter market in 2018, as there are a broad range of peripheral vascular applications. For instance, in May 2018, Surmodics Inc., a provider of medical device and in-vitrodiagnostic technologies, received the U.S. Food and Drug Administration (FDA) 510(k) clearance for its .018-inch low-profile percutaneous transluminal angioplasty (PTA) balloon dilation catheter, designed and indicated for a broad range of peripheral vascular applications.
- Some of the key players operating in the global PTA balloon catheter market include Medtronic, Terumo, Cardinal Health, Boston Scientific, AndraTec, Cook Medical, Biotronik, Abbott, Creagh Medical, TriReme Medical, and Natec Medical
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