Balloon Catheter Market Share, Growth Analysis & Trends Forecasted during 2016-2026
Balloon catheter is an innovative medical device that comprises guidewire and catheter, which is inserted into the femoral artery in the leg or sometimes into the radial artery in the arm to treat constricted blood vessels. These products are generally used to prevent blood vessel constriction caused due to atherosclerosis – deposition of lipid substances in the blood vessel. In terms of revenue, the global Balloon Catheter Market is projected to expand at a CAGR of 3.8% during the forecast period and is expected to be valued at US$ 4,191.7 million by the end of 2026.
[USPRwire, Wed Jun 12 2019] Balloon catheter is an innovative medical device that comprises guidewire and catheter, which is inserted into the femoral artery in the leg or sometimes into the radial artery in the arm to treat constricted blood vessels. These products are generally used to prevent blood vessel constriction caused due to atherosclerosis – deposition of lipid substances in the blood vessel. In terms of revenue, the global Balloon Catheter Market is projected to expand at a CAGR of 3.8% during the forecast period and is expected to be valued at US$ 4,191.7 million by the end of 2026. The global balloon catheter market is expected to represent US$ 1,304.3 Mn in terms of incremental opportunity between 2016 and 2026.
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The global balloon catheter market is segmented on the basis of product type (Normal Balloon Catheter, Cutting Balloon Catheter, Scoring Balloon Catheter, Drug Eluting Balloon Catheter, Stent Graft Balloon Catheter); disease indication (Coronary Artery Disease, Peripheral Vascular Disease); raw material (Polyurethane, Nylon, Others); and end user (Public Hospitals & Private Hospitals, Ambulatory Surgical Centres, Cardiac Catheterisation Laboratories). The drug eluting balloon catheter segment is expected to expand at a significant CAGR of 20.0% over the forecast period owing to the unique benefits offered by these balloon catheters in the treatment of Coronary Artery Disease (CAD). The stent graft balloon catheter segment is expected to expand at a CAGR of 4.0% in terms of value over the forecast period.
The global market for balloon catheters is expected to witness moderate growth rate in terms of value owing to increasing prevalence of cardiovascular diseases and growing number of cardiology intervention procedures globally. Moreover, growing healthcare expenditure and reimbursement support for vascular disorders, increasing geriatric population, introduction of next generation drug eluting balloon catheters, and increasing research and development activities for multipurpose balloon catheters is creating high potential growth opportunities for players operating in the global balloon catheter market.
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A high cost of coronary angioplasty and stenting treatment and risk of infection and artery collapse associated with balloon catheterisation is likely to hinder market growth over the forecast period.
The global balloon catheter market is likely to witness some key trends influencing the market in the next 10 years. Growth in interventional cardiology is facilitating the use of advanced balloon catheters such as drug eluting balloon catheters. Also, the prevalence of patients suffering from end stage renal disease and an increasing number of patients undergoing renal replacement therapy is likely to increase the use of balloon catheters for treatment. Further, the manufacturing of low cost balloon catheters and adoption of capacity expansion is expected to provide key opportunities for the growth of the global balloon catheter market.
Regional market projections
The global balloon catheter market is segmented into seven key regions – North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA. Revenue from the balloon catheter market in APEJ is expected to expand at a relatively higher CAGR (4.2%) due to an increase in the elderly population in countries such as China and India. The APEJ market is expected to account for 20.8% revenue share in the global balloon catheter market by 2026. North America is expected to be most attractive market in the global balloon catheter market over the forecast period and is estimated to account for 32.2% revenue share in 2016. Revenue from the Japan balloon catheter market is anticipated to expand at a CAGR of 3.9% from 2016 to 2026.
Boston Scientific Inc., Medtronic, Terumo Corporation, MicroPort Scientific Corporation, B. Braun Melsungen AG, Jotech GmbH, QX Medical LLC, Meril Life Pvt. Ltd., Hexacath, Abbott Laboratories, Tokai Medical Products Inc., Biosensors International Ltd., Cook Medical Inc., Cardionovum GmbH, Cordis Corporation, and Biotronik Inc. are the leading companies operating in the global balloon catheter market.
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