Global Angioplasty Balloons Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast 2023-2032 Report by We Market Research
Global angioplasty balloons market was worth USD 2,550 million in 2022 and is anticipated to reach a valuation of USD 3,655 million in 2033, expanding at a CAGR of 3.5% over the forecast duration.
Increasing prevalence of cardiovascular and coronary diseases across the globe, rising medical research & development investments, and technological advancements in the field are fueling the progression of global angioplasty balloons market. Moreover, being a minimally invasive surgical process, it provides certain benefits like reduced pain, injury, scarring and also requires less hospitals stay and promises high accuracy and fast recovery, therefore contributing to overall market expansion. Furthermore, increasing efforts of different market players to improve their product offers is adding traction to the market growth.
On the contrary, concerns associated with the side effects of angioplasty, lack of skilled medical professionals, and increasing number of product recalls are likely to hamper market progression in the ensuing years. Alongside, a decline in the average selling price of angioplasty balloons further impeding the market progression.
The angioplasty balloons market refers to the global market for medical devices that are used in angioplasty procedures to treat coronary artery disease (CAD) and peripheral artery disease (PAD). Angioplasty balloons are inflatable devices that are used to widen narrowed or blocked blood vessels in the heart or other parts of the body. The procedure involves inserting a catheter with the balloon into the artery, inflating the balloon to push the plaque against the artery wall, and then deflating the balloon and removing the catheter. The market for angioplasty balloons is driven by the increasing prevalence of CAD and PAD, which are major causes of death worldwide. According to the World Health Organization, CAD is responsible for around 17.9 million deaths each year, and PAD affects around 200 million people globally. Additionally, technological advancements in angioplasty balloon design and materials, as well as increasing demand for minimally invasive procedures, are also driving the growth of the market.
The angioplasty balloons market is highly competitive and includes several major players, such as Abbott Laboratories, Boston Scientific Corporation, Medtronic, and Terumo Corporation, among others. These companies are focused on developing innovative products, expanding their geographic presence, and acquiring smaller companies to strengthen their market position. The market is also segmented based on product type, material, application, end-user, and geography. North America is currently the largest market for angioplasty balloons, followed by Europe and Asia-Pacific.
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Market Segmentation:
The global angioplasty balloons market can be segmented based on several factors, including:
- Type of balloon: The angioplasty balloons can be classified based on the type of balloon such as semi-compliant balloons, non-compliant balloons, and cutting balloons.
- Material: The angioplasty balloons can be segmented based on the material used to manufacture them, such as polyethylene, polyurethane, nylon, and others.
- Application: The market can also be segmented based on the application of angioplasty balloons such as coronary artery disease, peripheral artery disease, and others.
- End-user: The angioplasty balloons market can be segmented based on the end-users such as hospitals, ambulatory surgical centers, and others.
- Geography: The global angioplasty balloons market can be segmented based on geography into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
- Size of the balloon: The market can also be segmented based on the size of the balloon such as small-sized balloons, medium-sized balloons, and large-sized balloons.
- Coating on the balloon: The angioplasty balloons can be segmented based on the coating on the balloon such as drug-coated balloons, non-drug coated balloons, and others.
Key Player:
Spectranectics Corp., Cook Medical, Inc., Cardinal Health, Johnson & Johnson, Abbott Laboratories, Becton, Dickinson, and Company, B. Braun Melsungen AG, Endocor GmbH, Medtronic Plc, Oscor, Inc, Terumo Corporation, Boston Scientific Corporation, and Biotronik.
Regional Analysis:
Considering the regional ambit, North America, Europe, Asia Pacific, and Rest of the World are the major benefactors to global angioplasty balloons market growth. Among these, North America presently accounts for a major revenue share in the market place ascribing to presence of key industry players, surging prevalence of coronary and cardiac diseases along with rising healthcare expenditure. Citing an instance, as per the research report released by American Heart Association in 2018, 1 of every 7 deaths reported in the US that year was caused by heart disease.
FAQs:
1. What are the major drivers which aid this Market?
2. What are the segments of this Market?
3. Which is the fastest growing region in this Market?
4. What are some major strategies used by top players for the expansion of their business in this Market?
Key Points:
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Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
Reasons to Purchase this Report:
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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