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The angioplasty balloons market is experiencing significant growth due to the rising prevalence of cardiovascular diseases worldwide. Conditions such as coronary artery disease, atherosclerosis, and peripheral artery disease contribute to the demand for angioplasty procedures, where balloons are essential tools for restoring blood flow by dilating narrowed or blocked arteries. The angioplasty balloons market is contingent upon the timeless technological advancements. Implantation of drug-coated and drug-eluting balloons relieves this problem by enabling a medication release, thus reducing reoccurring narrowing of arteries. Second, new advances in the balloon material types, shapes and in coatings lead to better efficacy and patient outcomes.
The rapidly growing popularity of minimal invasion surgeries is fueling the market’s growth of angioplasty balloons. More and more patients and health care providers choose minimally invasive interventions that cause less bleeding, take only a little of openings; the recovery times are acceptable. Balloons assisted angioplasty serves as a less disruptive in what one would need to do when it comes to treating arterial blockages operatively.
One of the key drivers that have established the angioplasty balloons market is the aging population around the world. Cardiovascular complications become more common for elderly people, and angioplasty interventions with a use of balloons to open narrowed blood vessels are most often performed in this age group as there used to manage and treat the age – related arterial conditions.
The market for Life sciences 17A diseases being monitored is growing partly because there are more people made aware of the need to monitor cardiovascular health and the importance of early intervention. Patients are coming early to seek medical attention and hence more angioplasty is done with an expectation that it will discourage or cure the patient from further getting ill. Prompt provision of arterial blockages include the angioplasty balloons which are among mechanisms that addresses the issue.
The Diabetes figures are steady in the world-wide increasing and resulting in market growth for angioplasty balloons. In diabetic patients, general and specific vascular complications as also: atherosclerosis increase. In case of angioplasty the use of balloon immediately comes into play as one of the crucial interventions that treat arterial narrowing in diabetic patients and enlarge it with an aim to enhance blood flow.
Angioplasty procedures show increasing tendency to use drug-coated balloons rather than other methods. These balloons introduce the agents that are therapeutic to the treated vessel, thus reducing a lot of risk that is associated with restenosis. The change towards the application of drug-coated balloons does not indicate an appreciation for angioplasty; instead, it implies an obsession with increasing long-term efficacy and boosting patient outcomes.
Global health emergencies including COVID-19 have made the need for optimal cardiovascular health absurd. Angioplasty balloons are crucially important as an instrument to handle acute cardiac conditions and their demand became even more prominent in the contexts of health crises, thus propelling market growth.
In developing angioplasty balloons, the manufacturer’s lens has been focused on customization and a patient-centric approach. When selecting what balloon design would work best for a particular patient or coating the exterior of its surface, this makes the procedure much more customized in its nature and provides superior results. This method also falls in line with the greater shift towards personalized medicine in the general medical fraternity. The angioplasty balloons market is marked by collaborations and partnerships between medical device manufacturers, research institutions, and healthcare providers. Collaborative efforts aim to advance balloon technologies, conduct clinical trials, and improve procedural techniques, fostering innovation and progress in the field.
Angioplasty Balloons Market Highlights:
Angioplasty Balloons Market Overview
Angioplasty Balloons Market size is anticipated to hold a value of USD 2.85 Billion by 2032 and is expected to register a CAGR of 4.9% during the assessment period of 2023 to 2032.
With increasing cases of artery diseases, balloon angioplasty has become the method of choice to treat patients suffering from coronary and peripheral artery diseases. Cardiac diseases are rising at an enormous rate, and this calls for precise treatment alternatives with high success rates. Each year cardiovascular diseases cause 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU).
Market Influencer
The companies operating in the angioplasty balloons market are focused on developing high-quality products incorporating cutting edge technologies. Also, established players are investing in clinical trials for the differentiation of products. Such initiatives promise a massive level of growth in the market. In addition to that, the increasing trend of minimally invasive procedures for the treatment of peripheral and coronary artery ailments is set to boost the market growth over the forecast period.
Market Drivers
- Rise in the number of collaborations and tie-ups by prominent players. For instance, in February 2017, QT Vascular (Singapore) signed a definitive agreement with Medtronic for the worldwide distribution of its Chocolate percutaneous transluminal angioplasty (PTA) catheter for five years and automatically renewable for two additional one-year periods.
- Rise in the incidence rates of cardiac diseases in developing as well as developed countries
- Rise in clinical trial candidates can boost the growth rate of the market during the assessment period. For instance, in November 2018, Koninklijke Philips N.V. (Netherlands) commenced patient enrolment for its Stellarex ILLUMENATE below-the-knee (BTK) investigational device exemption (IDE) clinical trial in the US. This study will compare the safety and effectiveness of the Stellarex 0.014 drug-coated angioplasty balloon to percutaneous transluminal angioplasty (PTA) in critical limb ischemia (CLI) patients.
- Increasing technological advancements and incorporation of innovation in the industry
- High investment in research and development
- Growing awareness created by medical professionals and key players about the benefits of angioplasty balloons
Market Restraints
- Product Recalls. In June 2019, Cook recalled three models of a balloon catheter used for leg angioplasty procedures after receiving multiple complaints of balloons bursting below the device's rated burst pressure.
- Side-effects and complications can reduce the preference rate
Angioplasty Balloons Market Segmentation
Angioplasty Balloons Product Insights
- Normal Balloons: The wide usage and availability of normal balloons contribute to the largest market share of this segment. Also, the reasonable cost of these products coupled with the favorable regulatory approval procedures is set to be a major contributor to the segment growth.
- Cutting Balloons: With the cutting balloon, the increase in the vessel lumen diameter is obtained in a more controlled manner and with a lower balloon inflation pressure than conventional balloons. This controlled dilatation could reduce the extent of vessel wall injury and the incidence of restenosis. This segment has been gaining popularity due to its high benefits and as a result, an increased preference rate. Thus, such factors are expected to drive the segment growth.
- Drug-Eluting Balloons: This segment is anticipated to be the fastest-growing during the assessment period owing to the increasing strategic initiatives taken by prominent players in the market. For instance, in August 2018, B. Braun Melsungen AG announced that its drug-coated balloon ‘SeQuent Please’ for percutaneous transluminal coronary angioplasty showed positive results in the BASKET-SMALL 2 clinical trial.
- Scoring Balloons: The increasing use of scoring balloons acts as a major reason for the growth of this segment. Several prominent companies are involved in the manufacturing of scoring balloons for coronary artery For instance, Koninklijke Philips N.V. (Netherlands) manufactures AngioSculpt PTCA, a scoring balloon that significantly highlights the landscape for treating coronary artery disease.
Angioplasty Balloons Application Insights
- Coronary Artery Disease: The coronary artery disease segment held the largest share in 2019 owing to the increasing rate of cardiac diseases across the globe. For instance, cardiovascular disease accounts for 45% of all deaths in Europe. Such high statistics push the treatment rate for coronary artery disease, resulting in the growth of the segment.
- Peripheral Artery Disease: This segment is expected to be the fastest-growing during the forecast period. The increased occurrences of peripheral artery diseases in developing countries are likely to boost the growth of the market. Also, rising product launches by key players significantly contribute to the growth of the market. For instance, in October 2019, introduced two new balloons to its Stellarex 0.035” low-dose drug-coated balloon (DCB) portfolio. These balloons broaden physicians’ treatment options for peripheral artery disease patients with a high risk of restenosis.
Angioplasty Balloons End-User Insights
- Hospitals: Hospitals held the majority share in 2018 owing to the high success rates of coronary and peripheral angioplasty procedures carried out in a hospital. On average, 200,000 cardiac arrests occur each year in hospitals in the US. Such strong statistics promises the growth of this segment in the coming years.
- Cardiac Catheterization Laboratories: This segment is anticipated to be the fastest-growing during the forecast period owing to the rising cardiac intervention procedures conducted in these labs. The high uptake and adoption of patients and medical professionals towards the use of such labs boost the growth of this segment. For instance, more than one million diagnostic cardiac catheterizations (excluding percutaneous coronary intervention–only procedures) are performed each year in the nearly 2,000 cardiac catheterization laboratories in the US.
- Ambulatory Surgical Centers: The surging incidence rates of peripheral artery push for faster treatment access and alternatives. The reduced turnaround time that ambulatory surgical centers provide to the patients is driving the growth of this segment.
- Others: Others include academic organizations, and research firms, simulation centers.
Region Analysis
- Americas: Americas held the largest market share in 2019, owing to the presence of major players, such as Boston Scientific Corporation and Cardinal Health. Also, several companies are entering into tie-ups to expand their geographical footprints, leading to an increase in the market share of the Americas angioplasty balloons market.
- Europe: The European region holds the second largest share owing to a surging case of hospitalizations for techniques such as carotid artery angioplasty and cerebral angioplasty. Also, there are a substantial number of major players in the European countries who focus on strategic moves, including joint ventures, mergers, and acquisitions to strengthen their presence in the market space. For instance, in August 2017, Koninklijke Philips N.V. (Netherlands) completed the acquisition of Spectranetics Corporation, a US-based global leader in vascular intervention and lead management solutions.
- Asia-Pacific: The Asia-Pacific region is predicted to be the fastest-growing region in the global angioplasty balloons market. Vigorous marketing activities by the manufacturers are playing a substantial role in increasing the potential targets, thus increasing the market size in this region. For instance, in August 2018, Medtronic (Ireland) started selling its IN.PACT Admiral drug-coated balloon (DCB) in Japan, thus increasing the Japan angioplasty balloons market share in the APAC region.
- Middle East & Africa: This region holds the least share but is likely to rise in the near future due to the inclination of prominent companies to untapped regions.
Key Players
- Abbott (US)
- Braun Melsungen AG (Germany)
- R. Bard (BD) (US)
- Biotronik SE & Co. KG (Germany)
- Boston Scientific Corporation (US)
- Cordis (Cardinal Health) (US)
- Cook (US)
- Koninklijke Philips N.V. (Netherlands)
- Medtronic (Ireland)
- Terumo Medical Corporation (Japan)
- Endocor (Germany)
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