New Jersey, NJ, Aug. 08, 2019 (GLOBE NEWSWIRE) -- The major factors contributing to the growth of global angioplasty balloons market include increasing geriatric population prone to heart conditions which lead to increasing number of angioplasty procedures and flexible policies of medical tourism from developing countries which offer low cost surgeries. The global angioplasty balloons market is 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 2018-2025, according to the new report published by Fior Markets.
Balloon angioplasty is a minimally invasive procedure performed to widen narrowed arteries. These balloon catheters flatten the plaque and ensure sufficient supply of oxygen rich blood in the affected areas of the heart. Rapidly growing elderly population and rising prevalence of heart related diseases are boosting the growth of the market. For instance, according to the report of Centers for Disease Control and Prevention (CDC), about 610,000 people die due to heart disease annually, in the United States. More than 15 million Americans suffer from coronary heart disease (CHD), which is considered as the most common type of heart disease. Technological advancements such as coated balloons and international radiology are making significant contribution to make the procedure minimally invasive.
Angioplasty is a minimally invasive procedure hence preferred by surgeons over high-cost stent placements which is a major factor driving the global angioplasty balloons market. In addition, adoption of advanced technologies is fuelling the growth of the market. Reimbursement issues and alternatives choices like bypass surgery, the risk of infection may hamper the growth of global angioplasty balloons market. However, technological advancements, increasing incidences of peripheral vascular diseases and increasing R&D are expected to boost the global angioplasty balloons market in the coming years.
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Prominent players of global angioplasty balloons market are 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. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the global angioplasty balloons market.
- For instance, in 2018, Teleflex acquired the assets of QT Vascular, The QT Vascular has planned to develop, acquire and obtain rights to new products in new fields of use and to continue collaborating with large multinationals.
- 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.
Drug-eluting balloons based segment was valued around USD 560.21 Million in 2017.
Type segment is divided into balloon catheter, drug-eluting balloons, cutting balloon catheter and scoring balloon catheter. Drug-eluting balloons based segment held the largest market size of around USD 560.21 Million in 2017 in global angioplasty balloons market. Increased sales of DEBs and launch of innovative technologies as compared to conventional stents are the key factors to drive the demand of DEBs based segment.
Semi compliant segment is expected to register the highest CAGR of 4.86% over the forecast period.
Material segment is divided into segments such as non-compliant material and semi-compliant material. Semi compliant segment is playing a chief role in shaping the business growth and is growing with the highest CAGR of 4.86% over the forecast period. Easy availability of the raw material and cost friendliness is driving the growth of the segment.
Coronary segment based segment held the largest market share of 59.81% in 2017.
Application segment is classified into peripheral and coronary. Coronary segment dominated the global angioplasty balloons market with the largest share of 59.81% in 2017. High incidence of coronary artery diseases, which are the most common type of all heart diseases, will lead to the growth of this segment in future. Peripheral segment is anticipated to grow with the highest CAGR of 5.14% during the forecast period owing to an increasing number of approvals for novel products, increasing awareness about peripheral arteries diseases, and availability of advanced products.
Ambulatory surgery centers segment held the largest market share of 36.28% in 2017.
The end user segment includes ambulatory surgery centers (ASCs), hospitals and catheterization laboratories. Ambulatory surgery centers (ASCs) segment held the largest share of 36.28% in 2017 owing to huge demand for the treatments in these settings. However, an increasing number of the private and public hospitals is anticipated to grow with a significant growth rate during the forecast period.
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Regional Segment Analysis of the Angioplasty Balloons Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region dominated the global angioplasty balloons market with 34.36% market share in 2017 where as Asia Pacific region is expected to be the highest growing region in the forecast period. North America region held the largest market share due to high prevalence of cardiovascular disease, high obesity rates, and high adoption rate of novel technologiesin this region. Asia Pacific is the second fastest growing region due to growing trend of medical tourism, increasing healthcare expenditure, and the rising cases of cardiovascular and lifestyle-associated disorders in the developing economies are creating opportunity for the growth of the market.
About the report:
The global Angioplasty Balloons market is analysed on the basis of value (USD Billion) volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons).All the segments have been analyzed on global, regional and country basis. The study includes the 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, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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