Global Balloon Catheter Market is project to reach US$ 6.1 Billion by 2027. Globally, the rise in prevalence of various chronic heart diseases due to high cholesterol or diabetes has increased the demand for balloon catheters in the health care industry. As per WHO (World Health Organization), 17.9 million people die each year from CVDs (Cardiovascular diseases), an estimated 32% of all deaths worldwide. Thus, a balloon catheter is a delicate catheter appliance with an inflatable balloon at its tip, which is introduced into a vessel or duct and then blown up to clear the blockage. The balloon catheter is mostly utilized to treat heart-related diseases caused due to diabetes, high blood pressure, specifically coronary heart disease, and high cholesterol levels in the blood. The utilization of these catheters has been consistently growing in the health care industry, and these devices have become a vital part of medical diagnostics and treatment.
Notwithstanding, the market is driven by specific factors, increasing demand for minimally invasive surgeries, growing prevalence of cardiovascular and peripheral artery diseases, advancements in the balloon catheters, and favorable reimbursement landscape in developed economies. Moreover, the growing patient pool and increasing demand for efficient and effective surgery with shorter recovery times and reduced hospital stay are key factors driving the growth of the balloon catheter market.
COVID-19 pandemic has disrupted the lifestyle of the people seriously, and the people are smashed with the economy's downfall. While discussing the balloon catheters industry, due to the COVID-19 pandemic, patients' chronic disease management and monitoring are disrupted, and many heart patients could not visit the hospital. This has resulted in the decline of the market due to reduced demand. But as soon as the lockdowns were lifted, there were many demands globally for balloon catheter devices to use in covid-19 treatment, where the people are suffering from comorbidities. Therefore, the market has been sluggish for a while, but it has revived quickly.
Based on product type, Global Balloon Catheter Market include Normal Balloon Catheter, Cutting Balloon Catheter, Drug-eluting Balloon Catheter, Scoring Balloon Catheter, Stent graft Balloon Catheter. A normal balloon catheter comprises a catheter, an innovative medical device, and a guide wire inserted into the radial artery in the arms or femoral artery in the legs to treat constricted blood vessels. Commonly, normal balloon catheters are used for preventing blood vessel constriction, which is driven by atherosclerosis, i.e., residue of lipid substances in the blood vessels. The surge in interventional cardiology has facilitated the utilization of normal balloon catheters.
On the basis of Raw Material, the polyurethane segment is expected to have the fastest growth rate. They are frequently used in varied applications like Coronary Artery Disease, Peripheral Vascular Disease, and Neurovascular Diseases that require the balloon to occlude the anatomy.
In terms of application, the Balloon Catheter market can be segmented into Coronary Artery Disease, Peripheral Vascular Disease, Neurovascular Diseases, and Others Diseases. The increased prevalence of coronary artery diseases worldwide is driving the demand for balloon catheters. According to the World Heart Federation, Coronary heart disease is now the leading cause of death globally. Each year, an estimated 3.8 million men and 3.4 million women die from coronary heart disease. Additionally, 80% of the deaths occur in low and middle-income countries. Balloon catheters are utilized to treat various coronary types of cardiovascular issues, including cardiac catheterization as a diagnostic imaging technique to assess a patient's heart function.
Geographically, the global balloon catheters market segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East, and America. North America is a leading balloon catheter market. Availability of advanced healthcare facilities, increased patient awareness, and infrastructure and health care expenditure are the primary factors fueling the region's balloon catheter market development.
Similarly, the Asia Pacific is also a significant market for balloon catheters and is expected to expand at a high growth rate in the next few years. Ongoing improvements in health care infrastructure and the growth of medical tourism across several developing economies contribute to the development of the market in the region.
The global balloon catheters market is moderately fragmented into players like Cardinal Health Inc., Medtronic PLC, Koninklijke Philips, Abbott Laboratories, Becton, Dickinson and Company, Boston Scientific Corporation, B. Braun Melsungen, Terumo Corporation, Teleflex Incorporated, Nordson Corporation.
This report titled Balloon Catheter Market, Global Forecast by Product Type (Normal Balloon Catheter, Cutting Balloon Catheter, Drug-eluting Balloon Catheter, Scoring Balloon Catheter, Stent graft Balloon Catheter), Raw Material (Polyurethane Catheter, Nylon Catheter, Others Material Catheter), Component (Over the Wire Balloon Catheter, Rapid Exchange Balloon Catheter, Fixed-Wire Balloon Catheter), Application (Coronary Artery Disease, Peripheral Vascular Disease, Neurovascular Diseases, and Others Diseases), End User (Hospitals, Ambulatory Surgery Centers, Dialysis Centers and Others), Region (North America, Europe, Asia-Pacific, Latin America, the Middle East, and America),Company Analysis (Cardinal Health Inc., Medtronic PLC, Koninklijke Philips, Abbott Laboratories, Becton, Dickinson and Company, Boston Scientific Corporation, B. Braun Melsungen, Terumo Corporation, Teleflex Incorporated, Nordson Corporation) provides an all-encompassing analysis on the Global Balloon Catheter Industry
1. Normal Balloon Catheter
2. Cutting Balloon Catheter
3. Drug eluting Balloon Catheter
4. Scoring Balloon Cathete
5. Stent graft Balloon Catheter
1. Polyurethane Catheter
2. Nylon Catheter
3. Others Material Catheter
1. Over the Wire Balloon Catheter
2. Rapid Exchange Balloon Catheter
3. Fixed-Wire Balloon Catheter
1. Coronary Artery Disease
2. Peripheral Vascular Disease
3. Neurovascular Diseases
4. Others Diseases
1. Hospitals
2. Ambulatory Surgery Centers
3. Dialysis Centers
4. Others
1. North America
2. Europe
3. Asia-Pacific
4. Latin America
5. Middle East and America
1. Cardinal Health Inc.
2. Medtronic PLC
3. Koninklijke Philips
4. Abbott Laboratories
5. Becton, Dickinson and Company
6. Boston Scientific Corporation
7. B. Braun Melsungen
8. Terumo Corporation
9. Teleflex Incorporated
10. Nordson Corporation.
Global Balloon Catheter Industry will grow with a CAGR of 8.2% during 2021-2027
Notwithstanding, the market is driven by specific factors, increasing demand for minimally invasive surgeries, growing prevalence of cardiovascular and peripheral artery diseases, advancements in the balloon catheters, and favorable reimbursement landscape in developed economies. Moreover, the growing patient pool and increasing demand for efficient and effective surgery with shorter recovery times and reduced hospital stay are key factors driving the growth of the balloon catheter market.
Effect of COVID-19 on the Global Balloon Catheter Industry
COVID-19 pandemic has disrupted the lifestyle of the people seriously, and the people are smashed with the economy's downfall. While discussing the balloon catheters industry, due to the COVID-19 pandemic, patients' chronic disease management and monitoring are disrupted, and many heart patients could not visit the hospital. This has resulted in the decline of the market due to reduced demand. But as soon as the lockdowns were lifted, there were many demands globally for balloon catheter devices to use in covid-19 treatment, where the people are suffering from comorbidities. Therefore, the market has been sluggish for a while, but it has revived quickly.
Worldwide Balloon Catheter Market Size was US$ 3.8 Billion in 2021
Based on product type, Global Balloon Catheter Market include Normal Balloon Catheter, Cutting Balloon Catheter, Drug-eluting Balloon Catheter, Scoring Balloon Catheter, Stent graft Balloon Catheter. A normal balloon catheter comprises a catheter, an innovative medical device, and a guide wire inserted into the radial artery in the arms or femoral artery in the legs to treat constricted blood vessels. Commonly, normal balloon catheters are used for preventing blood vessel constriction, which is driven by atherosclerosis, i.e., residue of lipid substances in the blood vessels. The surge in interventional cardiology has facilitated the utilization of normal balloon catheters.
On the basis of Raw Material, the polyurethane segment is expected to have the fastest growth rate. They are frequently used in varied applications like Coronary Artery Disease, Peripheral Vascular Disease, and Neurovascular Diseases that require the balloon to occlude the anatomy.
Coronary Artery Disease Segment Leads the Market
In terms of application, the Balloon Catheter market can be segmented into Coronary Artery Disease, Peripheral Vascular Disease, Neurovascular Diseases, and Others Diseases. The increased prevalence of coronary artery diseases worldwide is driving the demand for balloon catheters. According to the World Heart Federation, Coronary heart disease is now the leading cause of death globally. Each year, an estimated 3.8 million men and 3.4 million women die from coronary heart disease. Additionally, 80% of the deaths occur in low and middle-income countries. Balloon catheters are utilized to treat various coronary types of cardiovascular issues, including cardiac catheterization as a diagnostic imaging technique to assess a patient's heart function.
North America is the Leading Balloon Catheter Market
Geographically, the global balloon catheters market segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East, and America. North America is a leading balloon catheter market. Availability of advanced healthcare facilities, increased patient awareness, and infrastructure and health care expenditure are the primary factors fueling the region's balloon catheter market development.
Similarly, the Asia Pacific is also a significant market for balloon catheters and is expected to expand at a high growth rate in the next few years. Ongoing improvements in health care infrastructure and the growth of medical tourism across several developing economies contribute to the development of the market in the region.
Competitive Landscape
The global balloon catheters market is moderately fragmented into players like Cardinal Health Inc., Medtronic PLC, Koninklijke Philips, Abbott Laboratories, Becton, Dickinson and Company, Boston Scientific Corporation, B. Braun Melsungen, Terumo Corporation, Teleflex Incorporated, Nordson Corporation.
This report titled Balloon Catheter Market, Global Forecast by Product Type (Normal Balloon Catheter, Cutting Balloon Catheter, Drug-eluting Balloon Catheter, Scoring Balloon Catheter, Stent graft Balloon Catheter), Raw Material (Polyurethane Catheter, Nylon Catheter, Others Material Catheter), Component (Over the Wire Balloon Catheter, Rapid Exchange Balloon Catheter, Fixed-Wire Balloon Catheter), Application (Coronary Artery Disease, Peripheral Vascular Disease, Neurovascular Diseases, and Others Diseases), End User (Hospitals, Ambulatory Surgery Centers, Dialysis Centers and Others), Region (North America, Europe, Asia-Pacific, Latin America, the Middle East, and America),Company Analysis (Cardinal Health Inc., Medtronic PLC, Koninklijke Philips, Abbott Laboratories, Becton, Dickinson and Company, Boston Scientific Corporation, B. Braun Melsungen, Terumo Corporation, Teleflex Incorporated, Nordson Corporation) provides an all-encompassing analysis on the Global Balloon Catheter Industry
Product Type - Market has been covered from 5 viewpoints
1. Normal Balloon Catheter
2. Cutting Balloon Catheter
3. Drug eluting Balloon Catheter
4. Scoring Balloon Cathete
5. Stent graft Balloon Catheter
Raw Material - Market has been covered from 3 viewpoints
1. Polyurethane Catheter
2. Nylon Catheter
3. Others Material Catheter
Component - Market has been covered from 3 viewpoints
1. Over the Wire Balloon Catheter
2. Rapid Exchange Balloon Catheter
3. Fixed-Wire Balloon Catheter
Application - Market has been covered from 4 viewpoints
1. Coronary Artery Disease
2. Peripheral Vascular Disease
3. Neurovascular Diseases
4. Others Diseases
End User - Market has been covered from 4 viewpoints
1. Hospitals
2. Ambulatory Surgery Centers
3. Dialysis Centers
4. Others
Region - Market has been covered from 5 viewpoints
1. North America
2. Europe
3. Asia-Pacific
4. Latin America
5. Middle East and America
All the companies have been studied from 3 points
- Business Overview
- Recent Developments & Strategy
- Sales Analysis
Company Analysis
1. Cardinal Health Inc.
2. Medtronic PLC
3. Koninklijke Philips
4. Abbott Laboratories
5. Becton, Dickinson and Company
6. Boston Scientific Corporation
7. B. Braun Melsungen
8. Terumo Corporation
9. Teleflex Incorporated
10. Nordson Corporation.
Frequently Asked Questions about the Global Balloon Catheter Market
What is the estimated value of the Global Balloon Catheter Market?
What is the growth rate of the Global Balloon Catheter Market?
What is the forecasted size of the Global Balloon Catheter Market?
Who are the key companies in the Global Balloon Catheter Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 185 |
| Published | March 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 3.8 Billion |
| Forecasted Market Value ( USD | $ 6.1 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary5. Global Balloon Catheter Market
4. Market Dynamics
6. Market Share - Global Balloon Catheter Market
7. Product Type - Global Balloon Catheter Market
8. Raw Material - Global Balloon Catheter Market
9. Component - Global Balloon Catheter Market
10. Application - Global Balloon Catheter Market
11. End User - Global Balloon Catheter Market
12. Region - Global Balloon Catheter Market
13. Porters Five Forces
14. Key Players
List Of Figures:
List Of Tables:
Companies Mentioned
- Cardinal Health Inc.
- Medtronic PLC
- Koninklijke Philips
- Abbott Laboratories
- Becton, Dickinson and Company
- Boston Scientific Corporation
- B. Braun Melsungen
- Terumo Corporation
- Teleflex Incorporated
- Nordson Corporation.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
LOADING...
