According to Zion Market Research, the global balloon catheter market is estimated to reach USD 16.59 billion by 2026, developing at a CAGR of about 5.1% during the forecast period 2020–2026. The balloon catheter is a subtle catheter device having an inflatable balloon at its tip that might be introduced in a vessel or duct and then distended to clear the obstacle. The balloon catheter is principally utilized to cure heart-related diseases, particularly coronary heart disease, caused owing to high blood pressure, diabetes, and high cholesterol level in blood. The use of these catheters has been constantly augmenting across the health care industry and these devices are a vital part of medical diagnostics and treatment.
Some of the key players in the market are Edwards Lifesciences Corporation, Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, MicroPort Scientific Corporation, Medtronic plc, Jotech GmbH, Johnson & Johnson, Vascular Solutions, Inc., and Teleflex Incorporated.
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Increased Demand For Catheters In Health Care Industry Will Spur The Global Balloon Catheter Market
The surge in the prevalence of different chronic heart diseases owing to diabetes or high cholesterol has surged the demand for catheters from the health care industry. As per the WHO (World Health Organization), cardiovascular diseases caused almost 17.7 million deaths during 2015; out of those casualties, 7.4 million were owing to coronary heart disease. The majority of the deaths were in developing countries owing to a high prevalence rate and lack of health care services in rural areas. As per the UNFPA (United Nations Population Fund), about 12.8% of the global population is aged above 60 years and this figure is estimated to surge to 22% by the end of 2050. Thus, a surge in the geriatric population and the need for minimally invasive practices are key factors boosting the expansion of the balloon catheters market in developing and developed economies. The latest advancements in cardiac procedures like the development of sophisticated cardiovascular catheter devices have impelled the augmentation of the market.
The global balloon catheter market is bifurcated on the account of product type, raw material, indication, end-user, and regional analysis. Based on the product type, the market is divided into cutting balloon catheter, drug eluting balloon catheter, stent graft balloon catheter, normal balloon catheter, and scoring balloon catheter. Based on the raw material, the market is divided into nylon, polyurethane, and others. Based on the indication, the market is divided into peripheral vascular disease and coronary artery disease. Based on the end-user, the market is divided into private & public hospitals, cardiac catheterization labs, and ambulatory surgical centers.
The North America Region Expected To Predominate The Global Balloon Catheter Market
Based on the geographical analysis, the global balloon catheter market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The North America region is a chief market for balloon catheters and is likely to rule the global market in the forecasted period. The elevated patient awareness, accessibility of superior health care facilities & infrastructure, and health care spending are the key factors stimulating the expansion of the balloon catheters market across the region.
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The global balloon catheter market is segmented as follows:
Based on the product type:
- Normal balloon catheter
- Drug eluting balloon catheter
- Cutting balloon catheter
- Scoring balloon catheter
- Stent graft balloon catheter
Based on the raw material:
Based on the indication:
- Peripheral Vascular Disease
- Coronary Artery Disease
Based on the end-user:
- Ambulatory Surgical Centers,
- Public Hospitals & Private Hospitals
- Cardiac Catheterization Labs
Based on the region:
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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