The angioplasty balloons market forecast can help stakeholders in this marketplace plan their growth strategies. The report includes growth prospects, along with the angioplasty balloons market trends and their foreseeable impact during the forecast period.
An angioplasty is a technique used to widen narrowed or open clogged coronary arteries and restore blood flow. Value-based care, which focuses on cost-effectiveness and patient outcomes, is changing the healthcare sector. The market for angioplasty balloons will be influenced by the capacity of these devices to provide better patient outcomes, reduced rates of revascularization, and lower costs as compared to other available treatments. Compared to conventional surgical methods, angioplasty balloons provide a less invasive method of treating clogged arteries. The need for angioplasty balloons is rising as patients and medical professionals show a greater preference for less invasive procedures. The rising prevalence of cardiovascular diseases and increasing preference for minimally invasive procedures contribute to the growing angioplasty balloons market size. However, complications associated with angioplasty impede the growth of the market.
According to the World Health Organization (WHO), cardiovascular diseases are the most prominent cause of morbidity and mortality worldwide. Cardiovascular diseases include cerebrovascular disease, coronary heart disease, and rheumatic heart disease. Major lifestyle factors causing cardiovascular diseases and related difficulties are tobacco consumption, unhealthy diet, and physical inactivity, among others. According to the American Heart Association Inc., the cardiovascular disease-related deaths recorded in 2020 increased to 928,741 from 874,613 in 2019. In 2020, coronary heart disease was the leading cause (41.2%) of deaths attributable to cardiovascular diseases in the US, followed by stroke (17.3%), high blood pressure (12.9%), heart failure (9.2%), diseases of the arteries (2.6%), and other cardiovascular diseases (16.8%). Also, the World Heart Federation predicts more than 23 million cardiovascular disease-related deaths per year by 2030.
Moreover, cardiovascular risk factors are highly prevalent in Central and Western Europe, owing to smoking habits and heavy alcohol consumption rates, especially among men. More than 4 million Europeans die yearly from cardiovascular diseases, mainly due to coronary artery disease and stroke. The Middle East also has a high prevalence rate of cardiovascular diseases, which has surged the need for various interventions such as health education, lifestyle counseling, screening, and treatment in this region. According to the World Heart Federation, cardiovascular disease is the primary cause of death in the Middle East & North Africa, accounting for more than a third of all deaths or 1.4 million people annually. Thus, the increasing prevalence of cardiovascular diseases propels the angioplasty balloons market growth.
Angioplasty operations are considered by most to be safe, but there have been reported cases of problems developing during or age the surgery. A blood clot, irregular heartbeat, damage to a blood vessel or heart valve, stroke, allergic response to the stent material or drug-eluting stent, in-stent restenosis, or clogging of the stent's interior are a few of the risks involved in theangioplasty operations. While some of these risks are extremely dangerous, others might even be fatal. Furthermore, the patient might not have enough time in some circumstances to have an angioplasty. This typically occurs in the event of a heart attack. All of these problems hinder the angioplasty balloons market growth.
The angioplasty balloons market analysis has been carried out by considering the following segments: type, application, and end user.
By type, the angioplasty balloons market is segmented into normal balloons, drug eluting balloons, cutting balloons, and scoring balloons. The normal balloons segment held the largest market share in 2022. However, the drug eluting balloons segment is anticipated to register the highest CAGR during 2022–2030.
By application, the angioplasty balloons market is bifurcated into peripheral and coronary. The coronary segment held a larger angioplasty balloons market share in 2022 and is anticipated to register the highest CAGR during 2022–2030 due to the increasing prevalence of coronary artery diseases, especially heart disease. As per the March 2023 update from the Centers for Disease Control and Prevention (CDC), coronary heart disease is the most prevalent type of heart disease, affecting approximately 1 in 20 persons aged 20 and above. However, the peripheral segment is anticipated to register a higher CAGR during 2022–2030.
The angioplasty balloons market, based on end user, is segmented into hospitals, ambulatory surgery centers, and cath labs. The hospitals segment held the largest angioplasty balloons market share in 2022 and is anticipated to register the highest CAGR during 2022–2030.
The geographic scope of the angioplasty balloons market report includes North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America held the largest market share in 2022. The market growth in North America is driven by the increasing burden of an aging population, rising number of product launches, and R&D activities to develop advanced angioplasty balloons.
The regional trends and factors influencing the Angioplasty Balloons Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Angioplasty Balloons Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2.71 Billion |
| Market Size by 2030 | US$ 3.60 Billion |
| Global CAGR (2022 - 2030) | 3.6% |
| Historical Data | 2020-2022 |
| Forecast period | 2022-2030 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Angioplasty Balloons Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Angioplasty Balloons Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
Abbott, Boston Scientific Corporation, Cardinal Health, Cook Medical, C. R. Bard Inc, ENDOCOR GmbH, Medtronic, Spectranetics, BIOTRONIK, and Terumo Medical Corporation are among the prominent companies profiled in the angioplasty balloons market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide. As per company press releases, below are a few recent key developments:
The List of Companies - Angioplasty Balloons Market
The angioplasty balloonss market, based on end user, is segmented into hospitals, ambulatory surgery centers, and cath labs. The hospitals segment held the largest angioplasty balloons market share in 2022 and is anticipated to register the highest CAGR during 2022–2030.
Asia Pacific is expected to be the fastest-growing region in the angioplasty balloonss market. The region occupies a significant position in the global angioplasty balloons market and is expected to demonstrate a promising growth trajectory during the forecast period. The driving factors for the growth of the market are the increasing prevalence of cardiovascular diseases, growing aging population, improving healthcare infrastructure, and rising awareness about minimally invasive procedures.
The angioplasty balloonss market, based on application, is is bifurcated into peripheral and coronary. The coronary segment held a larger angioplasty balloons market share in 2022 and is anticipated to register the highest CAGR during 2022–2030.
The angioplasty balloonss market, based on type, is segmented into normal balloons, drug eluting balloons, cutting balloons, and scoring balloons. The normal balloons segment held the largest market share in 2022. However, the drug eluting balloons segment is anticipated to register the highest CAGR during 2022–2030.
US holds the largest market share in angioplasty balloonss market due to the increasing cases of heart disease. According to the American Heart Association, due to cardiovascular diseases, one person dies every 34 seconds in the US. In 2020, ~697,000 people in the US died from heart disease, i.e., one in every five deaths.
An angioplasty is a technique used to open widen up narrowed or open clogged coronary arteries and restore blood flow. Value-based care, which focuses on cost-effectiveness and patient outcomes, is changing the healthcare sector. The market for angioplasty balloons will be influenced by the capacity of these devices to provide better patient outcomes, lower reduced rates of revascularization, and lower costs as compared to other available treatments. Compared to conventional surgical methods, angioplasty balloons provide a less invasive method of treating clogged arteries. The need for angioplasty balloons is rising as patients and medical professionals show a greater preference for less invasive procedures.
The angioplasty balloonss market majorly consists of players such as Abbott, Boston Scientific Corporation, Cardinal Health, Cook Medical, C. R. Bard Inc, ENDOCOR GmbH, Medtronic, Spectranetics, BIOTRONIK, and Terumo Medical Corporation among others.
The factors that are driving the growth of the market are the rising prevalence of cardiovascular diseases and rising increasing preference for minimally invasive procedures.