Zion Market Research has published a new report titled “Angioplasty Balloons Market by Product (Drug Eluting Balloons, Normal Balloons, Cutting Balloons, and Scoring Balloons) Market by Material (Semi-Compliant Balloons and Non-Compliant Balloons): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021”. According to the report, global demand for angioplasty balloons market was valued at around USD 1.95 billion in 2015 and is expected to generate revenue of around USD 2.41 billion by end of 2021, growing at a CAGR of around 4.3% between 2016 and 2021.
Angioplasty is usually carried out as an alternative to heart surgery as a minimally invasive procedure, where a stent is inserted into the blood vessel to keep it open. Angioplasty balloons are used during the angioplasty procedure. Balloon angioplasty involves the inclusion of a small balloon into a narrowed section of an artery where the balloon is inflated, which results in opening up the artery and improving blood flow.
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Global angioplasty balloons market is primarily driven by growing incidences of target disease such as peripheral artery diseases, diabetes, etc. Other major driving factors for the growth of the angioplasty balloons market are growing geriatric population coupled along with an introduction of technologically advanced diagnostics. However, increase in a number of market players has resulted in the price war which is a major restraint that may curb the growth of the market. Nonetheless, technological advancements and emerging markets across the globe are likely to disclose the new avenues for angioplasty balloons market in the near future.
The angioplasty balloons market is segmented on the basis of different products including drug eluting balloons, normal balloon, cutting balloon, and scoring balloon. In 2015, normal balloon segment was the largest segment in angioplasty balloons market and accounted for largest share of the total market. Normal balloon segment is expected to continue its dominance, whereas drug eluting balloons segment is expected to be the fastest growing segment over the forecast period.
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Semi-compliant balloons and noncompliant balloons are the key material segment of the global angioplasty balloons market. The semi-compliant balloons materials segment dominated the market in terms of revenue. Semi-compliant balloons are expected to continue dominating over the forecast period as result of their wide use. Factors such as minimally invasive surgery requirement of less pressure required to induce deformation and generation of the lesser amount of stress on the vessel.
North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are key regional segments of global angioplasty balloons market. North America is expected to remain the dominant region over the forecast period. Europe was the second largest market for angioplasty balloons in 2015. Asia Pacific is expected to be the fastest growing region in angioplasty balloons market during the forecast period. Moreover, Latin America is also expected to show noticeable growth for this market in the years to come.
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Some of the key players in angioplasty balloons market include NATEC Medical, Cook Medical, Medtronic plc, C.R. Bard Inc., Boston Scientific Corporation, Spectranetics Corporation, ENDOCOR GmbH, BIOTRONIK SE & CO. KG, Cordis Corporation, Abbott Laboratories and Opto Circuits Ltd. among others.
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