Angioplasty Balloons Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| CAGR | 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Angioplasty Balloons Market Analysis
The angioplasty balloons market was valued at about USD 2639.25 million in 2021 and is expected to reach USD 3343.12 million in 2027, registering a CAGR of nearly 3.5% during the forecast period (2022-2027).
The emergence of COVID-19 in early 2020 was expected to have a significant impact on the studied market owing to the lockdown restrictions coupled with the severe impact of COVID-19 on people with comorbidities. Due to the pandemic, delay or cancellation in cardiology procedures was observed which affected the market. For instance, according to the research study published in November 2020, titled “Impact of COVID-19 Pandemic on Mechanical Reperfusion for Patients With STEMI”, there was a 19% decrease in primary percutaneous coronary intervention (PPCI) procedures, particularly among patients with hypertension. Also, the COVID-19 pandemic had a significant impact on the care of patients with ST-segment elevation myocardial infarction (STEMI). However, according to an article published in April 2022 by John Hopkins Medicine, titled “Heart Problems after COVID-19”, the coronavirus may directly infect and harm the heart's muscular tissue, and also, the inner surfaces of veins and arteries can become infected by the coronavirus, which can then lead to blood clots, blood vessel damage, and inflammation of surrounding blood vessels, all of which can impair blood flow to the heart and other organs. Hence, COVID-19 is expected to have a very significant impact on the cardiovascular systems which may affect the market over the forecast period.
With the increasing burden of cardiovascular diseases and the preference for minimally invasive surgery, balloon angioplasty has become the method of choice to treat patients suffering from coronary and peripheral artery diseases. Cardiovascular diseases worldwide are increasing at an enormous rate, which calls for precise treatment alternatives with high success rates. For instance, the data published by the European Heart network in 2021 reported that in the European Union, more than 60 million people live with cardiovascular disease, and nearly 13 million new cases of cardiovascular diseases are diagnosed yearly. The above-mentioned factors are expected to drive the growth of the market during the forecast period.
Factors such as the rising prevalence of lifestyle-related disorders and increasing geriatric populations are fueling the growth of the angioplasty balloons market. For instance, according to the World Health Organization (WHO) October 2021 update, the estimated population of people aged 60 years or more is expected to increase from 1 billion in 2020 to 2.1 billion. Thus, with an increase in the geriatric population, the prevalence of chronic diseases, especially cardiovascular disease, is also expected to increase, resulting in hospital admissions and surgeries. Additionally, the increasing innovative launches by market players to meet the growing demand are also expected to boost the growth of the market. For instance, in March 2021, Medtronic launched the chameleon percutaneous transluminal angioplasty balloon catheter in the European and African regions. However, high costs and the post-operational complications associated with angioplasty are expected to hamper the market growth.
Angioplasty Balloons Market Trends
This section covers the major market trends shaping the Angioplasty Balloons Market according to our research experts:
Hospitals Segment is Expected to Dominate the Angioplasty Balloons Market Over the Forecast Period
The hospital segment is expected to hold a major share of the overall angioplasty balloons market. The factors responsible for the dominance of this segment are advanced healthcare infrastructure, increasing availability of skilled labor, and affordability. In addition, the substantial growth in the geriatric population suffering from lifestyle diseases, such as atherosclerosis and heart failure, is expected to increase the patient pool and enhance hospital revenue generation.
Moreover, compared to conventional surgeries, the several advantages of minimally invasive surgeries, such as reduced surgical pain, injury, scarring, hospital stay, higher accuracy, and speedy recovery time, encourage more patients to opt for minimally invasive balloon angioplasty surgeries. As per the data reported by the American College of Cardiology in 2020, approximately 1.2 million angioplasties are performed in a year in the United States. Moreover, the high accessibility and affordability of hospitals, as compared to specialty clinics, are expected to attract a large patient population.
However, due to the current COVID-19 situation, limited movement of the population in hospitals is being observed. Except for an emergency, people are keen to avoid undergoing surgery or diagnostic procedures to limit the risk of COVID-19 infection. In addition, hospitals have also transferred their personnel availability from cardiac departments to other departments in need, such as EDs or intensive care units (ICU). All these factors are expected to affect the market growth. Nevertheless, this slowdown in growth is anticipated to be temporary, and in the long run, the market is expected to have significant growth.
The graph below suggests that the burden of cardiovascular disease is continuously surging in developed regions, such as North America, owing to the change in lifestyle habits and the high burden of obesity among the population. This surge in disease prevalence is expected to boost the demand for the angioplasty balloons market.
North America is Expected to Hold a Significant Share in the Angioplasty Balloons Market Over the Forecast Period
North America accounted for the maximum revenue share in the angioplasty balloons market. The presence of key industry players, the rising healthcare expenditure, and the growing number of percutaneous coronary interventions are the primary drivers of the market in the region. According to the Centers for Disease and Prevention (CDC), in 2022, about 659,000 people in the United States die from heart disease each year which is one in every four deaths. Thus, there exists a higher demand for better treatment with advanced medical devices, which acts as a major factor driving the studied market.
In addition, the increasing product approvals by regulatory bodies in the United States are also expected to drive the market’s growth. In November 2020, InfinityAngioplasty Balloon Co. announced its innovative angioplasty balloon platform called Infinity Angioplasty Balloon Catheter and completed a First-in-Human clinical trial. The device received the Food and Drug Administration’s clearance for PTA treatment of peripheral arterial disease in the peripheral vasculature, including iliac, femoral, popliteal, and infra-popliteal arteries, and for the treatment of arteriovenous dialysis fistulae in June 2020. All these developments are further expected to increase the robust product line of the market and are anticipated to offer lucrative growth opportunities to the market of this region.
Angioplasty Balloons Industry Overview
The angioplasty balloons market is fragmented, with many prominent players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Abbott laboratories, Angiodynamic, Becton Dickinson, Biotronik, Boston Scientific Corporation, Braun Melsungen AG, Cook Medical, Cordis, Endocor GmbH, Infinity Angioblast balloon, Johnson & Johnson, Koninklijke Philips N.V., Medtronic plc, Merit Medical System, Inc, Oscor Inc, Terumo Corporation and others.
Angioplasty Balloons Market Leaders
Medtronic
Boston Scientific Corporation
Cordis (Cardinal Health)
Terumo Corporation
BIOTRONIK
*Disclaimer: Major Players sorted in no particular order
Angioplasty Balloons Market News
- In June 2022, the latest results from the Tack Optimized Balloon Angioplasty (TOBA) II below-the-knee (BTK) clinical trial, released by Philips, showed that the Philips endovascular system, Tack (4F), which had received approval from the Food and Drug Administration, offers patients with critical limb ischemia (CLI), a severe stage of peripheral arterial disease (PAD), a sustained treatment effect and improves the quality of life for up to three years.
- In July 2022, BrosMed Medical received 510(k) clearance from the United States Food and Drug Administration for its Tiche 0.035 PTA Balloon Dilation Catheter.
Angioplasty Balloons Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Cardiovascular Diseases
4.2.2 Increasing Preference for Minimally Invasive Procedures and Technological Advancements
4.3 Market Restraints
4.3.1 High Costs Associated with the Procedure
4.3.2 Complications Associated with Angioplasty Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Normal Balloons
5.1.2 Cutting/Scoring Balloons
5.1.3 Drug Eluting Balloons
5.2 By Application
5.2.1 Coronary Angioplasty
5.2.2 Peripheral Angioplasty
5.3 By End User
5.3.1 Hospitals
5.3.2 Ambulatory Surgical Centers
5.3.3 Other End Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 AngioDynamics
6.1.3 Becton Dickinson
6.1.4 BIOTRONIK
6.1.5 Boston Scientific Corporation
6.1.6 Braun Melsungen AG
6.1.7 Cook Medical
6.1.8 Cordis (Cardinal Health)
6.1.9 Endocor GmbH
6.1.10 INFINITY Angioplasty Balloon
6.1.11 Johnson & Johnson
6.1.12 Koninklijke Philips N.V.
6.1.13 Medtronic Plc
6.1.14 Merit Medical Systems, Inc.
6.1.15 Oscor Inc.
6.1.16 Terumo Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Angioplasty Balloons Industry Segmentation
Angioplasty, also known as balloon angioplasty and percutaneous transluminal angioplasty (PTA), is a minimally invasive endovascular procedure used to restore blood flow through the artery by widening the narrowed or obstructed arteries. Angioplasty balloons are balloon-tipped catheters used to flatten the plaque against the artery wall during an angioplasty procedure. The angioplasty balloons market is segmented by product type (normal balloons, cutting/scoring balloons, and drug-eluting balloons), application (coronary angioplasty and peripheral angioplasty), end user (hospitals, ambulatory surgical centers, and other end-users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The Market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers values (in USD million) for the above segments.
| By Product Type | |
| Normal Balloons | |
| Cutting/Scoring Balloons | |
| Drug Eluting Balloons |
| By Application | |
| Coronary Angioplasty | |
| Peripheral Angioplasty |
| By End User | |
| Hospitals | |
| Ambulatory Surgical Centers | |
| Other End Users |
| Geography | ||||||||
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Angioplasty Balloons Market Research FAQs
What is the current Global Angioplasty Balloons Market size?
The Global Angioplasty Balloons Market is projected to register a CAGR of 3.5% during the forecast period (2023-2028).
Who are the key players in Global Angioplasty Balloons Market?
Medtronic, Boston Scientific Corporation, Cordis (Cardinal Health), Terumo Corporation and BIOTRONIK are the major companies operating in the Global Angioplasty Balloons Market.
Which is the fastest growing region in Global Angioplasty Balloons Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Global Angioplasty Balloons Market?
In 2023, the North America accounts for the largest market share in the Global Angioplasty Balloons Market.
Global Angioplasty Balloons Industry Report
Statistics for the 2023 Global Angioplasty Balloons market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Angioplasty Balloons analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
