The global angioplasty balloons market size reached US$ 2.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.2 Billion by 2032, exhibiting a growth rate (CAGR) of 2.8% during 2024-2032.
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Global Angioplasty Balloons Market Trends:
The growing preference for minimally invasive (MI) surgeries due to reduced recovery times and lower risk of complications is supporting the market expansion. Additionally, the increase in obesity, a major risk factor for cardiovascular diseases, which contributes to the demand for angioplasty balloons, is fostering the market growth. Besides this, rapid advancements in imaging techniques, which aid in accurate diagnosis and procedural success, is fostering the market growth.
Furthermore, the rising healthcare spending, particularly in developing regions, which enhances access to advanced medical treatments, including angioplasty, is driving the market growth.
Factors Affecting the Growth of the Angioplasty Balloons Industry:
· Increasing Prevalence of Cardiovascular Diseases:
The increasing prevalence of cardiovascular diseases (CVDs) is a major factor driving the growth of the angioplasty balloons market. Cardiovascular diseases, including coronary artery disease, heart attacks, and strokes, are leading causes of morbidity and mortality worldwide. Several lifestyle factors, such as poor diet, lack of physical activity, smoking, and excessive alcohol consumption, contribute to the rising incidence of these conditions.
Additionally, underlying health issues like hypertension, diabetes, and hyperlipidemia further exacerbate the risk of developing cardiovascular diseases. This alarming trend has led to an increased demand for effective treatment options, including angioplasty. Angioplasty, a minimally invasive procedure, is often the preferred treatment for reopening blocked or narrowed coronary arteries, thereby restoring blood flow to the heart muscle.
· Growing Geriatric Population:
The growing geriatric population is another significant factor contributing to the expansion of the angioplasty balloons market. Aging is associated with a higher incidence of cardiovascular diseases, as the physiological changes that occur with aging, such as increased arterial stiffness and the accumulation of atherosclerotic plaques, elevate the risk of heart disease. This demographic shift poses a considerable challenge to healthcare systems worldwide, as geriatric adults are more susceptible to chronic conditions, including cardiovascular diseases. The increased prevalence of these conditions in the geriatric population necessitates effective and less invasive treatment options. Angioplasty, with its minimally invasive nature and relatively quick recovery time, is particularly well-suited for these patients who may not be ideal candidates for more invasive surgical procedures like coronary artery bypass grafting (CABG).
· Technological Advancements:
Technological advancements are a pivotal driver of growth in the angioplasty balloons market. Innovations in balloon technology have significantly enhanced the safety and efficacy of angioplasty procedures, leading to better patient outcomes and broader adoption. One notable advancement is the development of drug-coated balloons (DCBs). These balloons are coated with antiproliferative drugs that are released into the arterial wall during angioplasty, reducing the risk of restenosis, a common complication where the artery narrows again after the procedure. Cutting-edge designs, such as scoring balloons and cutting balloons, feature specialized blades or scoring elements that make precise incisions in the arterial plaque. This allows for more effective dilation of the artery with less trauma to the vessel wall, reducing the risk of dissection and improving procedural success rates.
Angioplasty Balloons Market Report Segmentation:
By Product Type:
· Normal Balloons
· Cutting Balloons
· Drug Eluting Balloons
· Scoring Balloons
Normal balloons hold the majority of the market share due to their widespread use and established efficacy in routine angioplasty procedures.
By Application:
· Coronary Angioplasty
· Peripheral Angioplasty
Coronary angioplasty accounted for the largest market share as it is the most common procedure performed to treat coronary artery disease.
By Material:
· Nylon
· Polyurethane
· Silicone Urethane Co-Polymers
· Others
Based on the material, the market has been divided into nylon, polyurethane, silicone urethane co-polymers, and others.
By End User:
· Hospitals
· Ambulatory Surgery Centers
· Others
Ambulatory surgery centers hold the majority of the market share because of the increasing preference for outpatient procedures that offer convenience and cost-effectiveness.
Regional Insights:
· Asia-Pacific
· Europe
· Latin America
· Middle East and Africa
North America's dominance in the market is attributed to its advanced healthcare infrastructure, high prevalence of cardiovascular diseases, and significant healthcare expenditure.
Competitive Landscape with Key Players:
The competitive landscape of the angioplasty balloons market size has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
· Abbott Laboratories
· B. Braun Melsungen AG
· BD (Becton, Dickinson, and Company)
· Biotronik SE & Co. KG
· Boston Scientific Corporation
· Cardinal Health Inc.
· Cook Medical LLC
· Endocor GmbH & Co. KG
· Johnson & Johnson
· Medtronic Inc.
· Terumo Corporation
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· Market Performance (2018-2023)
· Market Outlook (2024-2032)
· Market Trends
· Market Drivers and Success Factors
· Impact of COVID-19
· Value Chain Analysis
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