Those suffering from coronary artery disease can benefit from the use of a balloon catheter, a balloon-tipped, bendy apparatus that can be inflated or deflated while the catheter is in place, a channel can be formed or expanded. Renal denervation, perfusion, drug delivery, cryoablation, and atherectomy are all possible with the help of balloon catheters.
About 380,000 people in the United States lose their lives each year to coronary artery disease, as reported by 2015 statistics from The Heart Foundation. Furthermore, the same source estimates that approximately every year in the United States, heart attacks affect 720,00 people. with 205,000 experiencing recurrent heart attacks and 515,000 experiencing their first heart attack.
In 2018, the global market for balloon catheters was worth US$11,463.0 m, and it is projected to grow at a CAGR of 5.3% over the next few years (2019 – 2027).
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In the predicted period, the balloon catheters market is expected to grow due to the increasing number of product introduction of advanced balloon catheters by main players in treating peripheral heart diseases and coronary heart diseases
Over-the-wire, fixed wire, rapid exchange, drug coated balloon catheters and drug eluting balloon catheters are just some of the varieties of balloon catheters that manufacturers are working to perfect and introduce to the market. Nipro North America, a division of Nipro Medical Corporation, released the Cronus HP high-pressure, 0.035″ over-the-wire percutaneous transluminal angioplasty balloon catheter in February 2016. And in April of 2015, Biotronik introduced Pantera Pro which is an in-coronary balloon dilatation catheter that is only partially compliant.
Market expansion is anticipated to be fueled by the acceptance of strategies of inorganic nature by the main players in the market for balloon catheters
Growth in the global market for balloon catheters is anticipated to be driven by major players’ adoption of inorganic strategies, such as collaborations, to enhance the balloon catheter product portfolio through the introduction of novel balloon catheters. For example, in September 2014, NATEC Medical Ltd teamed up with US Endovascular LLC, another medical device manufacturer, to distribute the US Endovascular-developed spectrum of PTA balloon catheters in the American market. Some examples of balloon catheters used with PTA platforms are the USE 014 “Rapid Exchange (Rx) and Over the Wire (OTW), the USE018 OTW and the USE 035″ OTW.
The market for balloon catheters is anticipated to expand over the coming years, but rising rates of product recall could slow that expansion. For example, in September of this year, Medtronic Plc. announced a voluntary recall of certain balloon dilation catheters, including the Euphora and Solarice semi-compliant rapid exchange balloon dilatation catheters, because of the difficulty in removing them from the body of the patients’.
Market for Balloon Catheters Worldwide – Regional Analysis
The worldwide market for balloon catheters is split up into several different regions: North America, Europe, Latin America, the Middle East, Asia Pacific, and Africa.
Due to rising regulatory approvals and product launches in the region, North America is anticipated to hold the largest share of the global market for balloon catheters. For example, in June 2017, following 510k clearance from the U.S. FDA, medical device manufacturer OrbusNeich released Sapphire Balloon Dilatation Catheters for Percutaneous Coronary Angiography (Sapphire II PRO and Sapphire NC Plus).
The existence of major main players in the region, including Terumo Corporation, BrosMed Medical and Kaneka Corporation, , bodes well for the future of the balloon catheters market in Asia Pacific. These companies are investing heavily in the research, development, and commercialization of novel balloon catheters. For example, a Tokyo-based firm called Kaneka Corporation (HQ: Minato) released a high-pressure balloon catheter called SHIDEN HP in the previous November. Calcified lesions caused by advanced peripheral arterial disease can be treated with the novel SHIDEN HP, which is used for high-pressure vascular enlargement (PAD). Furthermore, BrosMed Medical’s Artimes and Apollo Percutaneous transluminal coronary angioplasty (PTCA) balloons were approved by the Japan Pharmaceuticals and Medical Devices Agency (PMDA) in August 2017. The pre-dilatation PTCA balloon Artimes is only partially compliant, while the post-dilatation PTCA balloon Apollo is fully non-compliant at high pressure.
Over the same time frame, the balloon catheters market in Europe is anticipated to expand significantly due to the rising incidence of CVDs (cardiovascular diseases) there. Example: In 2015, the total number of novel cases of CVD diagnosed across Europe was 11.3 Mn, and 6.1 Mn novel cases of cardiovascular diseases diagnosed across the European Union, as reported by the European Heart Network AISBL. Demand for the balloon catheters is anticipated to rise in the region as a result of this rising incidence.
Market leaders in the balloon catheter industry include Abbott Laboratories, Becton Dickinson and Company, Boston Scientific Corporation, Bard Medical Division, B. Braun Melsungen AG, Johnson & Johnson, Teleflex Incorporated, Medtronic, Plc, Edwards Lifesciences Corporation, and Vascular Solutions, Inc.
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|The market size value in 2023|
Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Balloon Catheters Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Balloon Catheters Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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