The global PTA (Percutaneous Transluminal Angioplasty) balloon catheter market is poised for significant growth, driven by the increasing prevalence of peripheral artery disease (PAD), advancements in interventional cardiology, and the growing demand for minimally invasive procedures.
Market Overview
The global PTA balloon catheter market size was valued at USD 1.99 billion in 2023 and is anticipated to grow from USD 2.11 billion in 2024 to USD 3.63 billion by 2032, exhibiting a CAGR of 7.0% during the forecast period. This growth reflects the increasing reliance on minimally invasive procedures like PTA for the treatment of PAD.
Some of the major players operating in the global PTA balloon catheter market include:
- Abbott Laboratories
- Andratec
- B. Braun Melsungen AG
- Becton, Dickinson and Company
- Biotronik
- Boston Scientific Corporation
- Cardinal Health, Inc.
- Cook Medical Inc.
- Endocor GmbH
- Medtronic plc
- Merit Medical Systems, Inc.
- Natec Medical Ltd.
- Philips
- Surmodics, Inc.
- Terumo Corporation
Key Market Drivers:
- Rising Prevalence of Peripheral Artery Disease (PAD): The increasing prevalence of PAD, a condition that affects blood flow to the limbs, is a major driver of market growth.
- Aging Population: The aging population is more susceptible to cardiovascular diseases, including PAD, further driving market demand.
- Advancements in Catheter Technology: Advancements in catheter technology, such as the development of drug-coated balloons (DCBs) and high-pressure balloons, are improving treatment outcomes and expanding the range of applications for PTA procedures.
- Minimally Invasive Procedures: PTA is a minimally invasive procedure that offers several advantages over traditional open surgery, including shorter hospital stays, faster recovery times, and reduced risk of complications.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
PTA Balloon Catheter Market, Material Outlook (Revenue – USD Billion, 2019-2032)
- Nylon
- Polyurethane
- Others
PTA Balloon Catheter Market, Application Outlook (Revenue – USD Billion, 2019-2032)
- Coronary Artery Disease
- Peripheral Artery Disease
PTA Balloon Catheter Market, End Use Outlook (Revenue – USD Billion, 2019-2032)
- Hospital and Clinics
- Ambulatory Surgical Centers
- Others
The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.
Recent Developments:
- Cook Medical Expands Advance Serenity Product Line: In June 2023, Cook Medical expanded the size options and indications for its Advance Serenity hydrophilic PTA balloon catheter, enhancing its versatility for treating PAD.
- Biotronik Launches Oscar Multifunctional Peripheral Catheter: In June 2023, Biotronik introduced the Oscar multifunctional peripheral catheter, designed to improve the efficiency and effectiveness of peripheral interventions.
- Medtronic Receives FDA Approval for IN.PACT 018 DCB: In May 2022, Medtronic received FDA approval for its IN.PACT 018 Paclitaxel-Coated Percutaneous Transluminal Angioplasty (PTA) Balloon Catheter, expanding treatment options for patients with PAD.
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/pta-balloon-catheter-market
Table of Contents:
- Global PTA Balloon Catheter Market Insights
4.1. PTA Balloon Catheter Market – End Use Snapshot
4.2. PTA Balloon Catheter Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Rising prevalence of peripheral artery disease is projected to spur the product demand
4.2.1.2. Growing preference for minimally invasive procedures is expected to drive PTA balloon catheter market growth
4.2.2. Restraints and Challenges
4.2.2.1. High cost of procedures is likely to impede the market growth
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. PTA Balloon Catheter Market End Use Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global PTA Balloon Catheter Market, by Material
5.1. Key Findings
5.2. Introduction
5.2.1. Global PTA Balloon Catheter Market, by Material, 2019-2032 (USD Billion)
5.3. Nylon
5.3.1. Global PTA Balloon Catheter Market, by Nylon, by Region, 2019-2032 (USD Billion)
5.4. Polyurethane
5.4.1. Global PTA Balloon Catheter Market, by Polyurethane, by Region, 2019-2032 (USD Billion)
5.5. Others
5.5.1. Global PTA Balloon Catheter Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global PTA Balloon Catheter Market, by Application
6.1. Key Findings
6.2. Introduction
6.2.1. Global PTA Balloon Catheter Market, by Application, 2019-2032 (USD Billion)
6.3. Coronary Artery Disease
6.3.1. Global PTA Balloon Catheter Market, by Coronary Artery Disease, by Region, 2019-2032 (USD Billion)
6.4. Peripheral Artery Disease
6.4.1. Global PTA Balloon Catheter Market, by Peripheral Artery Disease, by Region, 2019-2032 (USD Billion)
Conclusion:
The global PTA balloon catheter market is poised for continued growth, driven by the increasing prevalence of PAD, advancements in catheter technology, and the growing demand for minimally invasive procedures.
Continued innovation in catheter design and the development of new and improved therapies will be crucial for improving patient outcomes and addressing the growing burden of cardiovascular diseases.
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