Balloon Catheter industry is projected a revenue growth of US$ 6.4 Billion by 2033
The United Kingdom Balloon Catheter Market is expected to reach a total of US$ 273.4 million by 2033, and The demand for balloon catheters is expected to increase globally at a CAGR of 4.3%. The market revenue is anticipated to reach 4.2 billion dollars in 2023 and rise to 6.4 billion dollars by 2033.
In Europe, the prevalence of peripheral artery disease (PAD) is particularly high among adults, with studies indicating that one in four individuals aged 65 and above have few forms of PAD. Growing prevalence of PAD is expected to drive demand for balloon catheters, as these devices are commonly used for the diagnosis and treatment of PAD.
Balloon catheters are also used to dilate blocked or narrowed arteries, which can help to reduce symptoms and improve quality of life in PAD patients. By using balloon catheters, physicians can restore blood flow to the affected area, reduce risk of amputation, and improve a patient’s overall health.
Balloon catheters are widely used for a variety of other medical applications as well, such as angioplasty, thrombolysis, and drug delivery. As these applications are set to increase in the coming years, FMI predicts continuous and consistent acceleration of Europe balloon catheter market between 2023 and 2033.
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To meet the growing demand for balloon catheters, manufacturers are focusing on developing new technologies such as drug-eluting balloons, which release drugs directly into the site of the blockage. This can help to improve treatment outcomes and reduce the need for additional interventions. This trend is likely to be further strengthened by advancements in balloon catheter technology.
Key Takeaways from the Balloon Catheter Market
- From 2023 to 2033, the United Kingdom market is likely to accelerate at a CAGR of 8% and reach a value of US$ 273.4 million in 2033.
- Germany market is also anticipated to expand at 7% CAGR and reach US$ 244.3 million in 2033.
- The global balloon catheter market is expected to register 3% CAGR between 2023 and 2033.
- A value of US$ 6.4 billion is estimated for the global balloon catheter market in the year 2033.
- The global balloon catheter market is poised to reach a valuation of US$ 4.2 billion in 2023.
- Rising prevalence of peripheral artery disease (PAD) is slated to fuel the need for balloon catheters in Europe.
“As peripheral artery disease is on rise in Europe, balloon catheter adoption is expected to skyrocket in the coming years. Key players are focusing on developing catheters that improve treatment outcomes.”– Says an FMI Analyst.
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Competition Landscape in the Balloon Catheter Market
To set themselves apart from their rivals in the industry and boost sales in the global balloon catheter market, manufacturing companies are concentrating on merger and acquisition strategies.
Biosense Webster Inc., Medtronic plc, and Medtronic are apex companies in Europe balloon catheter market.
- In October 2022, Biosense Webster, Inc., a Johnson & Johnson subsidy of medical technologies, revealed its European debut of a HELIOSTAR balloon catheter, the first radiofrequency balloon ablation catheter. It can be utilised for cardiac ablation when coupled with a suitable cross RF generator and catheter-based heart electrophysiological imaging of the atria.
- In July 2021, PrevailTM drug coated balloon (DCB) catheters were introduced in Europe under the CE (Conformité Européenne) standard by Medtronic plc, a leading company in medical technology. The Prevail DCB is used in percutaneous coronary intervention (PCI) treatments to treat blocked or restricted blood vessels in people with cardiovascular disease.
Balloon angioplasty catheter are commonly used in angioplasty, a procedure to treat coronary artery disease by opening up narrowed or blocked arteries in the heart. They are also used in various other procedures, such as in the treatment of kidney stones, to dilate strictures in the digestive tract, or to open up blocked bile ducts.
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Key Segments Profiled in the Balloon Catheter Market Survey
By Product Type:
- Drug Eluting
By Raw Material:
- Coronary Artery Disease
- Peripheral Vascular Disease
By End User:
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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