Over the past few years, incidences of cardiovascular diseases have been witnessing a surge, coupled with rising number of cardiology intervention procedures around the world. Governments are making provisions of reimbursement support for patients with vascular diseases.
The healthcare expenditure has also been experiencing a hike since recent past. Factors such as these may impact growth of the global normal balloon catheter market. In addition, numerous other factors including rise in elder population, increasing investments in R&D activities associated with normal balloon catheters are further estimated to create growth opportunities for normal balloon catheter manufacturers.
The global market for normal balloon catheter is set to exhibit an average CAGR throughout the forecast period (2017-2022). The global normal balloon catheter market will account for around US$ 2,000 Mn revenues by 2022-end.
Factors such as high costs related to angioplasty procedures, along with risks concerning balloon catheterization including infection and artery collapse are anticipated to curb growth of the global market for normal balloon catheter.
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Trends Being Observed in the Global Normal Balloon Catheter Market
- Rise in interventional cardiology is facilitating use of the normal balloon catheters
- Surging prevalence of patients with end stage renal disease have been fuelling demand for normal balloon catheters
- The number of people undergoing renal replacement therapy is increasing, thereby fuelling growth of the normal balloon catheter market
Normal balloon catheter sales in cardiac catheterization laboratories will register the fastest expansion over the forecast period, on the basis of end-users. In addition, hospitals are expected to retain their dominance in the global market for normal balloon catheters.
Nylon to be Sought-after among Manufacturers of Normal Balloon Catheters
Based on raw material, nylon will remain sought-after among manufacturers of normal balloon catheters. Approximately half market share will be held by sales of nylon in the market during the forecast period. In addition, sales of polyurethane in the global market is expected to exhibit a relatively higher CAGR than that of nylon through 2022.
Coronary artery disease will continue to be dominant in the market, based on indication. Sales of normal balloon catheters for coronary artery disease are anticipated to exceed revenues worth US$ 1,000 Mn by 2022-end. In terms of revenue, nearly three-fourth market share is estimated to be held by normal balloon catheter sales for coronary artery disease throughout the forecast period.
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Europe to Account for Largest Revenue Share of the Global Normal Balloon Catheter Market
Europe is projected to be the largest market for normal balloon catheter during 2017 to 2022, in terms of revenue. Sales of normal balloon catheter in Europe will hold the largest revenue share of the market over the forecast period. In addition, normal balloon catheter sales in Asia-Pacific excluding Japan (APEJ) are expected to exhibit the fastest expansion through 2022. In contrast, the market in North America is anticipated to register the lowest CAGR through 2022.
Key market players profiled in the report include BIOTRONIK SE & Co. KG., Cordis Corporation, Cook Medical INC, Tokai Medical Products Inc., Hexacath, Meril Life Sciences Pvt. Ltd., B. Braun Melsungen AG, MicroPort Scientific Corporation, Terumo Corporation, Medtronic plc, Boston Scientific Corporation, and Abbott Laboratories.