Balloon angioplasty is a minimally invasive procedure that widens the obstructed blood vessels. The global angioplasty balloons market is anticipated to grow at a faster rate due to changes in lifestyle resulting in lack of physical activity and unhealthy diet, increasing geriatric population, and growing incidence of cardiovascular diseases. According to CDC, 500,000 coronary angioplasty procedures were performed in the U.S. in 2010 and the number is anticipated to increase in the near future. Furthermore, approximately 8 million people were suffering from peripheral artery diseases (PAD) in the U.S. in 2011. Hence, high prevalence of coronary and peripheral artery diseases would increase demand for percutaneous coronary and peripheral interventions, which would propel the growth of the angioplasty balloons market. Advantages of balloon angioplasty over stenting and bypass surgery are shorter hospital stay, reduced cost, minimal incision, less post-surgical complications, and shorter recovery time.
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The global angioplasty balloons market has been estimated based on various balloon types and material used. Based on balloon type, the global market has been segmented into normal balloon, drug coated balloon, scoring balloon, and cutting balloon. Based on material, the global angioplasty balloons market has been segmented into non-compliant and semi-compliant. The normal balloon segment held the largest share of the market in 2014 and would continue to dominate the market during the forecast period. However, drug coated balloon is the fastest growing segment due to its ability to restore blood flow and prevent the reoccurrence of blockages in blood vessels. Based on material, the semi-compliant balloon segment dominated the market in 2014 and the trend is likely to continue during the forecast period.
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Geographically, the angioplasty balloons market has been categorized into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East and North Africa, and Rest of the World (RoW). North America held the largest share of the angioplasty balloons market in 2014, followed by Europe, due to continued adoption of premium priced balloons and rising incidence of cardiovascular diseases. Asia-Pacific was identified as the third largest market for angioplasty balloons in 2014 and the region is expected to register the fastest CAGR during the forecast period. Large opportunities, improving health care infrastructure, increasing prevalence of coronary artery diseases, expansion of market players, and rising geriatric population in the region would contribute to market growth.
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Abbott Laboratories, Boston Scientific Corporation, Cook Medical, Cordis Corporation, C. R. Bard, Inc., Medtronic plc, ENDOCOR GmbH, BIOTRONIK SE & CO. KG, Opto Circuits (India) Limited, and Spectranetics Corporation are the major players operating in the global angioplasty balloons market. Most of these players are constantly striving to retain or enhance their market share by developing technologically advanced products and by acquisition of domestic companies.
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