The global intra-aortic balloon pump market is estimated to grow from nearly US$ 361 Mn in 2017 to nearly US$ 472 Mn by 2027 end. This represents a CAGR of 2.7% over the forecast period of 2017–2027. The global market for intra-aortic balloon pump represents absolute dollar opportunity of US$ 10.9 Mn in 2018 over 2017 and incremental opportunity of US$ 111 Mn between 2017 and 2027.
Growing prevalence of lethal diseases, such as cardiac arrest and heart failure due to changing lifestyle and eating habits is leading to increasing cardiac surgeries and procedures worldwide. Of late, intra-aortic balloon pump has emerged as a cutting-edge product in cardiac management and care. It is basically a polyethylene balloon mounted on a catheter that assists heart during both its rest phase and work phase. However, there have been occasions when the use of intra-aortic balloon pumps in chronic heart condition and coronary artery diseases resulted in adverse side-effects including injuries and even deaths.
Persistence Market Research in its latest study on the global intra-aortic balloon pump market finds that factors such as high risk of infection, and potential dangers of artery collapsing associated with balloon catheterization are sternly curbing the market’s growth. As per PMR’s findings, the global Intra-aortic balloon pump is likely to register a minuscule CAGR of 2.7% in terms of value during the forecast period (2017–2027).
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Global Intra-Aortic Balloon Pump Market: Key Challenges
Increasing product recalls and rising concerns over patient safety is set to impact the global intra-aortic balloon market, which is expected to reach a valuation of US$ 471.8 Mn by 2027. Moreover, limited growth opportunities owing to the lack of proper healthcare infrastructure is holding back manufacturers to make strong investments in developing countries.
North America to Retain its Top Position in the Global Intra-Aortic Balloon Pump Market Over 2027
Currently, North America is the largest market for intra-aortic balloon pump, which is estimated to represent US$ 133.7 Mn, or 37.1% value share of the global market by 2017-end. The region’s market is expected to expand at CAGR of 2.9% during 2017 to 2027. The market in Europe is expected to emerge as the second largest market over 2027. In 2017, Asia Pacific (APAC) is estimated to account for 19% share of the global market in terms of revenue.
Some of the prominent companies operating in the global intra-aortic balloon market include Teleflex Corporation, MAQUET Holding B.V. & Co. KG. (Getinge Group), Zeon Corporation, Tokai Medical Products Inc., SENKO MEDICAL INSTRUMENT Mfg. CO., LTD., InterValve Inc., Insightra Medical, Inc.
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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