The global Angioplasty Balloons market is expected to reach a value of US $ 4.2 Billion by the end of 2033 and is forecasted to expand at a CAGR of 3.4% during the forecast period of 2023 to 2033.
Angioplasty balloons are medical devices that are inserted into the blood vessels of the body to open blocked veins and arteries. They work by using a balloon to enlarge the artery or vein, which then allows blood to flow more freely. After surgery, the blood arteries are opened by blowing up the balloon to flatten the plaque against their walls, allowing normal blood flow to resume.
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Those who are obese and have high cholesterol levels are also increasing the market’s potential. Technology developments, such as the emergence of innovative variants that may be implanted without requiring general anaesthesia and the development of imaging technologies, are other key growth-promoting factors.
Key Driving Forces Accelerating the Market Growth
- Various geographies such as North America has a high prevalence of cardiovascular diseases, such as coronary artery disease, which often require angioplasty procedures. The growing incidence of these diseases is driving the demand for angioplasty balloons.
- The regional market is expected to occupy a 40% share of the revenue of the global angioplasty balloons market in North America. Increasing awareness of treatment options and the rising prevalence of cardiovascular illnesses are supporting market growth.
- Continuous advancements in angioplasty balloon technologies, including drug-coated balloons and bioresorbable balloons, are enhancing the effectiveness and safety of angioplasty procedures. These technological innovations are driving the market growth.
- Angioplasty balloons offer a minimally invasive approach to treating blocked arteries compared to traditional surgical procedures. With a growing preference for minimally invasive interventions among patients and healthcare providers, the demand for angioplasty balloons is increasing.
- The aging population in North America is susceptible to cardiovascular diseases due to age-related factors. The increasing geriatric population is driving the demand for angioplasty procedures and, consequently, angioplasty balloons. The presence of favorable reimbursement policies for angioplasty procedures encourages patients to opt for these interventions. This factor plays a crucial role in driving the growth of the angioplasty balloons market.
Vital Indicators Shaping Future Of The Industry
- Continued advancements in angioplasty balloon technologies, such as drug-coated balloons, bioresorbable balloons, and cutting-edge materials, will drive the future of the market. Innovations that improve safety, efficacy, and long-term outcomes will be crucial in shaping the market landscape.
- The healthcare industry is undergoing a shift towards value-based care, focusing on patient outcomes and cost-effectiveness. The future of the angioplasty balloons market will be influenced by the ability of these devices to demonstrate improved patient outcomes, reduced revascularization rates, and cost savings in comparison to alternative treatment options.
- The growth of the angioplasty balloons market in North America will be influenced by emerging markets and demographic trends. The increasing aging population, rising prevalence of cardiovascular diseases, and improving healthcare infrastructure in emerging economies within North America will contribute to market expansion.
- The regulatory landscape, including guidelines and approvals set by regulatory bodies such as the FDA and Health Canada, will play a significant role in shaping the future of the angioplasty balloons market. Stringent regulations focused on safety and efficacy, as well as expedited approval pathways for innovative technologies, will influence market dynamics.
Key Companies Profiled in This Report
- Medtronic plc
- Cook Medical
- Becton, Dickinson and Company
- Biotronik
- Boston Scientific Corporation
- AngioDynamics
- B. Braun
- Cordis
- Abbott Laboratories
- Endocor GmbH
- Infinity Angioblast Balloon
- Johnson & Johnson
- Koninklijke Philips N.V.
- Merit Medical Systems, Inc.
- Oscor Inc.
- Terumo Corporation
Challenges Hindering The Market Growth
- Angioplasty procedures can be costly, including the cost of the angioplasty balloons and other associated medical devices. The high cost of these procedures may limit their accessibility, particularly for patients without adequate insurance coverage or financial resources.
- The regulatory requirements for medical devices, including angioplasty balloons, can be stringent and time-consuming. Obtaining regulatory approvals from bodies like the FDA in the United States can involve lengthy and complex processes, which can delay the market entry of new products.
How competition influences the market
Key market players are focusing on the improvement of product offerings by incorporating advanced technologies to be aligned with the common trend of value-based healthcare.
- Competition encourages medical device manufacturers to invest in research and development to innovate and improve their angioplasty balloon products. Companies strive to develop advanced technologies, such as drug-coated balloons or bioresorbable balloons, to gain a competitive edge.
- In 2022, GIE Medical initiated clinical trials in the US to launch ProTract X3 TTS Drug-Coated Balloon Technology to treat intestinal structures.
Key Segments of Angioplasty Balloons Industry Research report
- By Balloon Type:
- Normal
- Drug-coated
- Cutting
- Scoring
- By Material:
- Non-compliant
- Semi-compliant
- By Application:
- Coronary Angioplasty
- Peripheral Angioplasty
- By End User:
- Hospitals
- Specialty Clinics
- Catheterization Laboratories
- Ambulatory Surgical Centers
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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