The Coronary Balloon Products Market Size is valued at US$ 960.85 Mn in 2022 and is predicted to reach US$ 1188.30 Mn by the year 2031 at a 2.5 % CAGR during the forecast period for 2023-2031.
Key Industry Insights & Findings from the Report:
- The Coronary Balloon Products market is driven by a combination of factors, including the rising incidence of conditions such as stroke, epilepsy, cerebral aneurysm, arteriovenous malformation (AVM), and carotid artery stenosis. These conditions contribute to an increased demand for effective treatment options.
- The expansion of the Coronary Balloon Products market is being driven by the substantial advancements in micro guidewires technology and the increasing demand for minimally invasive neurosurgery treatments.
- North America dominated the market and accounted for a global revenue share in 2023.
- Market challenges include stringent regulations regarding product approvals and the high cost of balloon catheter procedures.
A balloon catheter is a cutting-edge medical device put into the arm's radial artery or the leg's femoral artery to treat restricted blood arteries. Another minimally invasive technique that uses a balloon catheter is to unblock blocked or constricted coronary arteries brought on by (CAD). Various cardiovascular conditions are treated with a coronary balloon. One of the main drivers of industry growth is the growing geriatric population, which is also boosted by the rising prevalence of cardiovascular disorders and the increased demand for invasive surgical techniques. However, the high cost of angioplasty and the complications that can arise after surgery are expected to hinder market growth.
Furthermore, cardiac catheterization is a diagnostic procedure that allows medical professionals to evaluate a patient's heart's functionality. These trends are anticipated to impact the growth of the market substantially. As the population ages, there will be a tremendous financial demand for old-age support systems. Moreover, some variables, such as autonomic dysregulation, arterial stiffness, the blood-brain barrier, and neurovascular uncoupling, are anticipated to influence the dynamics of local perfusion and brain blood flow with ageing. Long-lasting, cutting-edge catheters are frequently employed to enhance overall quality of life and catheter management in older persons. Older adults are anticipated to utilize coronary balloons, boosting the market.
Competitive Landscape:
Some Major Key Players in The Coronary Balloon Products Market:
- Abbott Laboratories,
- Angiodynamic
- Becton Dickinson
- Biotroni
- Boston Scientific Corporation
- Braun Melsungen AG
- Cook Medical
- Cordis, Endocor GmbH
- Infinity Angioblast balloon
- Johnson & Johnson
- Koninklijke Philips N.V
- Medtronic plc
- Merit Medical System, Inc
- Oscor Inc
- Terumo Corporation.
Market Segmentation:
The coronary balloon products market is segmented based on Product, Material And End-Users. Based on the product, the coronary balloon products market is segmented as PTAC balloon and Nc balloon. By material, the market is segmented into non-compliant and semi-compliant. End-user segments the market into hospitals, cardiac centres and ambulatory surgical centres. Based on material, the non-compliant segment is a major contributor to the coronary balloon products market.
The Non-Compliant Category Will Hold A Major Share Of The Global Coronary Balloon Products Market
Compared to non-compliant balloons, compliant balloons are constructed with greater flexibility and conformability to the vessel walls. Due to its flexibility, the balloon can more easily adjust to uneven vessel anatomy and prevent vessel damage while being inflated. Due to the risk of artery wall damage or dissection from non-compliant balloons' high force, they are particularly useful when treating fragile or calcified lesions. Due to their flexibility, compliant balloons can result in better lesion compliance. This characteristic is very valuable when treating complex lesions, bifurcation lesions, and convoluted veins, where accurate dilation is crucial.
The Hospital Segment Witnessed Growth At Tremendous Development
The hospital category is projected to grow rapidly in the global coronary balloon products market. This sector's domination results from developing healthcare infrastructure, expanding the pool of skilled laborers, and affordability. The significant increase in the senior population suffering from lifestyle disorders like atherosclerosis and heart failure is anticipated to broaden the patient base and improve hospital revenue production. More patients choose minimally invasive balloon angioplasty procedures than traditional ones due to the numerous benefits, including less surgical discomfort, injury, scarring, hospital stay, higher accuracy, and quicker recovery times.
The North American Coronary Balloon Products Market Holds A Significant Regional Revenue Share
The North American coronary balloon products market is expected to register the highest market share. The availability of various important manufacturers, the launch of new, technologically advanced equipment, and advantageous reimbursement regulations are all factors. The market is driven by increased diabetes prevalence, government initiatives, and prominent companies' launch of numerous technologically sophisticated products.
In addition, the Asia Pacific regional market is projected to grow rapidly in the global coronary balloon products market. This can be ascribed to a rise in healthcare spending and an increase in the cases of cardiovascular disorders. BioMed central states cardiovascular disease affects one in every five persons in China. Furthermore, it is anticipated that the market in the region will be driven by an aging population in nations like Japan and China and rising disposable income. The expansion of the industry in the area is also aided by the rise of health tourism in emerging countries.
Recent Developments:
- In March 2024, Boston Scientific Corporation disclosed that it has obtained approval from the United States. The AGENT™ Drug-Coated Balloon (DCB) has been granted approval by the FDA for the management of coronary in-stent restenosis (ISR) in individuals diagnosed with coronary artery disease. In-stent restenosis (ISR) is the result of the narrowing or obstruction of a stented blood artery due to the accumulation of plaque or scar tissue.
- In July 2021, Medtronic introduced the Prevail™ drug coated balloon (DCB) Catheter in Europe following the receipt of the CE (Conformité Européene) designation. The recently created Prevail DCB, a drug-coated balloon (DCB) specifically designed for percutaneous coronary intervention (PCI), is utilized to treat stenotic or occluded coronary arteries in persons diagnosed with coronary artery disease (CAD).
Coronary Balloon Products Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 960.85 Mn |
|
Revenue Forecast In 2031 |
USD 1188.30 Mn |
|
Growth Rate CAGR |
CAGR of 2.5 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Technology, By Material, By Component |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia. |
|
Competitive Landscape |
Abbott Laboratories, Angio Dynamic, Becton Dickinson, Bortnick, Boston Scientific Corporation, Braun Melungeon AG, Cook Medical, Cordis, Endocon GmbH, Infinity Angioblast balloon, Johnson & Johnson, Koninklijke Philips N.V., Medtronic plc, Merit Medical System, Inc, Oscar Inc, Terumo Corporation and others. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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