Balloon Catheter Market

Global Balloon Catheter Market Size (2023 to 2028)

As per our report, the global balloon catheter market size was valued at USD 4.32 billion in 2023 and is estimated to reach USD 7.35 billion by 2028, to grow at a CAGR of 11.2% during the forecast period.

A balloon catheter is a subtle catheter device with an inflatable balloon at its tip, which is introduced into the duct or vessel, and it blustered the blockage and cleared it. These catheters are mostly used to treat coronary heart disease triggered due to diabetes, heart-related diseases, high cholesterol levels in the blood, and high blood pressure. The use of these devices is increasing in the healthcare sector and has become an essential part of medical treatments and diagnosis. These products are typically used to avoid blood vessel shrinking triggered due to atherosclerosis – deposition of lipid materials in the blood vessel.

MARKET DRIVERS:

Growth in life-threatening diseases such as peripheral vascular diseases and cardiovascular diseases is expected to favor the global balloon catheter market growth.

A sedentary lifestyle is the only reason leading to many chronic disorders such as cardiovascular disorders and diabetes. The occurrence of patients undergoing various therapies increases, and the ratio of people suffering from last-stage renal diseases is likely to increase the use of balloon catheters for treatment. An increase in research and development, the rising number of regulatory approvals, mergers and acquisitions, and product launches are also expected to fuel the balloon catheter market growth.

Unhealthy habits of people such as consuming unhealthy food, drinking alcohol and smoking, and lack of physical activities lead to obesity, which leads to various cardiovascular and other diseases. Surgical demand for the treatment of such disorders has also increased, which is expected to boost the global balloon catheter market in the forecast period. Moreover, the manufacturing cost of balloon catheters and acceptance of capacity expansion will provide more opportunities for the growth of the balloon catheter market.

MARKET RESTRAINTS:

The high cost of stenting treatment of heart and angioplasty will hamper the balloon catheter market growth. As well as the risk of infection associated with artery collapse is likely to hinder the balloon catheter market growth during the forecast period.

Impact of COVID-19 on the global balloon catheter market:

COVID-19 pandemic has disrupted the lifestyle of the people in a great manner, and the people are shattered with the downfall of the economy. People who rely on a daily business and other means of labor work. Certainly, this uninvited guest had disrupted the health care system also. The healthcare system is burdened to a large extent, and the resources were meager. The impact is more triggered by the faulty health care system resulting in more live losses. Non-essential medical services were closed, and only emergency covid care has put into operation; this has impacted the market for a short while.

While discussing the balloon catheters market, these devices are used to remove clots and other foreign elements like bad cholesterol, vessel blockades, etc. They remove the particles when they are inserted into the vessel or duct. These help prevent heart stroke in patients, blood clot removals, etc. But due to the covid, 19 pandemic, the chronic disease management and monitoring of patients are disrupted a lot, and many heart patients could not visit the hospital. This has resulted in the loss of the market in the form of reduced demand. But as soon as the lockdowns were lifted, there are many demands worldwide for these devices to use in covid-19 treatment too, where the people are suffering from comorbidities. Hence, the market is sluggish for a while, but it has revived very fast.

REPORT COVERAGE:

This market research report on the global balloon catheter market has been segmented and sub-segmented product type, raw material, disease indication, end-user, and region.

Balloon Catheter Market - By Product Type:

• Cutting Balloon Catheter
• Scoring Balloon Catheter
• Normal Balloon Catheter
• Drug-Eluting Balloon Catheter
• Stent Graft Balloon Catheter

The drug-eluting balloon catheter is estimated to enlarge at a CAGR of 19.2% during the forecast period based on the Product. Factors like distinctive advantages offered by the balloon catheters for the treatment of Coronary Artery Disease (CAD) are fueling the growth.

The stent-graft balloon catheter segment will likely increase at a CAGR value of 3.9% during the forecast period.

Balloon Catheter Market - By Raw Material:

• Polyurethane
• Nylon

The nylon segment is projected to hold the largest share in the balloon catheter market based on the Raw material. It will showcase a CAGR value of 5.9% during the forecast period due to the advantages associated with the use of nylon used as a raw material in this device as nylon is very soft.

The polyurethane segment is expected to have the fastest growth rate from 2022 to 2028 as the resources are blown away by volume. They are frequently used in varied applications that require the balloon to occlude the anatomy.

Balloon Catheter Market - By Disease Indication:

• Coronary Artery Disease
• Peripheral Vascular Disease

Based on the disease indication, the coronary artery disease segment leads with the highest shares of the market. The rise in the geriatric population with hearing-related problems is a significant factor propelling the market's demand. Growing support from the government is also driving the growth rate of the market.

Balloon Catheter Market - By End User:

• Ambulatory Surgical Centers
• Cardiac Catheterization Laboratories
• Public Hospitals
• Private Hospitals

The Hospital segment is holding a significant share in the global balloon catheter market based on the end-user. It is expected to grow at a CAGR value of 4.2% during the period. The growth of this segment is credited due to the rising patient pool and increasing demand for efficient and effective treatment procedures with less recovery time are the factors accelerating the market growth. Advanced technologies and also a stipulation for minimally invasive surgical procedures are some factors fueling the market growth.

Balloon Catheter Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

Geographically, the North American region is expected to account for a significant share in the global balloon catheter market during the forecast period. North America had nearly one-third of the market share in 2021. During the forecast period, the North American region is estimated to grow at a CAGR of 37%. Increasing awareness among the patients and easy accessibility of healthcare amenities are some factors fueling the market growth. The United States is positioned top in leading dominant shares in the North American market.

The European balloon catheter market is expected to have a compatible growth over the forecast period due to the factors like concentrating on government expenditure, particularly in research and development activities by the key players.

The Asia Pacific is expected to have significant growth during the forecast period due to high economic and technological growth in emerging nations like China and India. The growth in this region is attributed to the continuation of betterments in the healthcare infrastructure. Also, increasing medical tourism in various developing countries is fuelling the market growth in this region. China is the fastest-growing nation in the market. India and Japan are next to China in holding dominant shares of the market.

The Latin American market is expected to set out value by the end of the forecast period. The growth of this region is credited due to growing healthcare expenditure steadily. The increasing occurrence of cardiovascular diseases integrated with the aging population is escalating the market growth. Also, evolving advanced technologies, through the concentration and investments made by the key players, are anticipated to propel the market of balloon catheters.

Middle East & Africa is expected to have a steady growth. Lifestyle-oriented diseases such as obesity and diabetes are directly driving the market of MEA. The growing aging population is also contributing to the market growth. Saudi Arabia's market growth is due to older people prone to a high risk of suffering from cardiovascular diseases.

KEY MARKET PARTICIPANTS:

Some prominent companies dominating the global balloon catheter market profiled in the report are B. Braun Melsungen AG, Abbott Vascular, Terumo Medical, Corp, Medtronic, Biosensors International, Ltd, Boston Scientific, Goodman, Cordis, MicroPort Scientific Corp, Simeks Medical, and AngioScore, Inc.

RECENT MARKET DEVELOPMENTS:

• On May 28, 2020, Tokai Medical Products, a medical device manufacturer, received CE mark approval for their Rescue balloon occlusion catheter.
• On November 26, 2019, Medtronic’s In. Pact AV drug-coated balloon catheter received approval for treating failed arteria venous (AV) patients undergoing dialysis. It is used to permit hemodialysis in patients with ESRD.
• On May 27, 2014, Spectranectics announced that it had agreed with AngioScore Inc., a manufacturer of balloons for cardiovascular, for $230 million. These two together resolve the problems associated with the peripheral and coronary markets.
• On June 10, 2019, Cordis, a Cardinal Health Company, obtained a new product agreement with Premier for eight product categories of interventional products.