Sales of Stent Graft Balloon Catheter In Cardiac Catheterization Laboratories Is Surged with a CAGR of 5.1% By 2022
The global demand for stent graft balloon catheter will register a healthy expansion during 2017 to 2022. Revenues from the market are expected to surpass US$ 1,000 Mn by the end of 2022.
Usually utilized in bypass graft surgery as well as balloon angioplasty, stent graft balloon catheters prevent risks concerning occurrence of re-narrowing in patients undergoing angioplasty, and risks related to abrupt artery closure. Owing to these advantages offered by stent graft balloon catheters, their demand is witnessing a rise. A gradual evolution has been observed in the stent graft balloon catheter market, from the simple stents to modification of balloon stent catheters. Since recent past, there has been a surge in hospital admissions caused by increasing cases of atherosclerosis, and soaring prevalence of CAD – coronary artery disease globally.
Numerous developments have been realized in technology of balloon catheters, along with the hike in healthcare expenditure. These factors are expected to augment growth of the market. In contrast, high prices of angioplasty procedures has become a problem for population across developing and underdeveloped economies. This might act as an impeding factor for the market growth.
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Growth of the global stent graft balloon catheter market has been highly favored by the advent of drug eluting balloons. In addition, shifting preferences towards using balloons with drug delivery, and helping to deliver medications at local sites, has deemed them to be effective substitutes for administering drugs intravenously. Various new products developed are being approved for treatment of vascular diseases. For instance – recently, the FDA has approved use of expandable balloon stent graft introduced by the W.L. Gore & Associates to treat peripheral artery disease. Moreover, technology advancements in the stent graft balloon catheters, coupled with increasing awareness about angioplasty, and sophisticated healthcare infrastructure in developed economies are further poised to drive the market growth in the near future.
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9 Key Estimations from Fact.MR’s Report on the Global Stent Graft Balloon Catheter Market
- Based on raw material, sales of polyurethane for producing stent graft balloon catheters will register a steady expansion, while sales of nylon are estimated to register a sluggish growth through 2022.
- Cardiac catheterization laboratories are anticipated to become the fastest growing end-users in the global stent graft balloon catheter market.
- Ambulatory surgical centres are expected to be the least lucrative end-users of stent graft balloon catheters.
- Hospitals will continue to be the largest end-user segment, with sales poised to reach nearly US$ 900 Mn by 2022-end.
- Sales of stent graft balloon catheters for coronary artery disease indication are projected to account for over two-third share of the market over the forecast period, in terms of revenues.
- Demand for stent graft balloon catheters from peripheral vascular disease indication segment will remain sluggish in the market.
- Although, the market in Middle East & Africa (MEA) is expected to register a sluggish expansion, sales of stent graft balloon catheter in this region are estimated to gain an uptick by 2022-end.
- Europe will continue to be the largest market for stent graft balloon catheter, with sales projected to exceed US$ 400 Mn in revenues by 2022-end.Key players contributing to the growth of the market
Meril Life Sciences Pvt. Ltd. Abbott Laboratories, Hexacath, Cardionovum GmbH, Jotech GmbH, MicroPort Scientific Corporation, Boston Scientific Corporation, Terumo Corporation, Cook Medical INC, B. Braun Melsungen AG, Cordis Corporation, and Medtronic Plc.
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