As per our report, the global balloon catheter market size was valued at USD 3.5 billion in 2019 and estimated 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 introduced into the duct or vessel, and it blustered the blockage and cleared it. These catheters are mostly used to treat the coronary heart disease triggered due to diabetes, heart-related diseases, high cholesterol level in blood and high blood pressure. Use of these devices is increasing in the healthcare sector and 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 are expected to favour the balloon catheter market during the forecast period.
A sedentary lifestyle is the only reason which is leading to many chronic disorders such as cardiovascular disorders and diabetes. The occurrence of patients undergoing various therapies is increasing, and the ratio of people suffering from last stage renal diseases is likely to increase the use of balloon catheters for treatment. Increase in the research and development, the rising number of regulatory approvals, mergers and acquisition and product launches are also expected to fuel the balloon catheter market growth.
Unhealthy habits of people such as consumption of unhealthy food, drinking alcohol and smoking, and lack of physical activities lead to the occurrence of obesity which leads to various cardiovascular and other diseases. Surgical demand for the treatment of such disorders has also increased, which is expected to provide a boost to 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.
REPORT COVERAGE
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REPORT METRIC |
DETAILS |
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Market Size Available |
2018 to 2024 |
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Base Year |
2018 |
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Forecast Period |
2019 to 2024 |
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Segments Covered |
By Product Type, Raw Material, Disease Indication, End User and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
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:
Based on the Product, the drug-eluting balloon catheter is estimated to enlarge at a CAGR of 19.2% during the forecast period. Factors like distinctive advantages offered by the balloon catheters for the treatment of Coronary Artery Disease (CAD) are fueling the growth.
Stent graft balloon catheter segment is likely to increase at a CAGR value of 3.9% during the forecast period.
Balloon Catheter Market - By Raw Material:
Based on the Raw material, nylon segment is projected to hold the largest share in the balloon catheter market and will showcase a CAGR value of 5.9% during the forecast period. It is due to advantages which are 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 2019 to 2024 as the resources are blown away by volume. They are frequently used in varied applications that require balloon to occlude the anatomy.
Balloon Catheter Market - By Disease Indication:
Based on the disease indication, the coronary artery disease segment is leading with the highest shares of the market. Rise in the number of geriatric population with hearing-related problems is a significant factor propelling the demand of the market. Growing support from the government is also driving the growth rate of the market.
Balloon Catheter Market - By End User
Based on the end-user, the Hospital segment is holding a significant share in the global balloon catheter market. It is expected to grow at a CAGR value of 4.2% during the period. The growth of this segment is credited due to 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 procedure are some factors fueling the market growth.
Regional Analysis
North America is expected to have the largest share in the global balloon catheter market. North America has nearly one-third of the market share. During the forecast period, the North American region 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.
Europe 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 owing to factors like high economic and technological growth in emerging nations like China and India. The growth in this region is attributed due to continuation of betterments in the healthcare infrastructure and also increasing medical tourism in various developing countries is fuelling the market growth in this region. China is the fastest-growing nation of the market. India and Japan are next to China in holding dominant shares of the market.
Latin America 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. Increasing occurrence of cardiovascular diseases integrated with older people population is escalating the market growth. Also, evolving advance technologies, through the concentration and investments made by the key players is anticipated to propel the market of balloon catheters.
Middle East & Africa is expected to have steady growth. Lifestyle oriented diseases such as obesity and diabetes are directly driving the market of MEA. Growing ageing population is also contributing to the market growth. Saudi Arabia market growth is due to older people who are prone to high risk suffering from cardiovascular diseases.
TOP COMPANIES IN THE MARKET
Key Players 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 used for treating failed arteria venous (AV) in patients who are undergoing dialysis. It is used to permit the 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.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemiology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Normal Balloon Catheter
5.1.3 Stent Graft Balloon Catheter
5.1.4 Drug Eluting Balloon Catheter
5.1.5 Scoring Balloon Catheter
5.1.6 Cutting Balloon Catheter
5.1.7 Y-o-Y Growth Analysis, By Product
5.1.8 Market Attractiveness Analysis, By Product
5.1.9 Market Share Analysis, By Product
5.2 Raw Material
5.2.1 Introduction
5.2.2 Polyurethane
5.2.3 Nylon
5.2.4 Others
5.2.5 Y-o-Y Growth Analysis, By Raw Material
5.2.6 Market Attractiveness Analysis, By Raw Material
5.2.7 Market Share Analysis, By Raw Material
5.3 End-User
5.3.1 Introduction
5.3.2 Public Hospitals & Private Hospitals
5.3.3 Cardiac Catheterisation Laboratories
5.3.4 Ambulatory Surgical Centres
5.3.5 Y-o-Y Growth Analysis, By End User
5.3.6 Market Attractiveness Analysis, By End User
5.3.7 Market Share Analysis, By End User
5.4 Disease Indications
5.4.1 Introduction
5.4.2 Coronary Artery Disease
5.4.3 Peripheral Vascular Disease
5.4.4 Y-o-Y Growth Analysis, By Disease Indications
5.4.5 Market Attractiveness Analysis, By Disease Indications
5.4.6 Market Share Analysis, By Disease Indications
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Raw Material
6.1.3.4 By End User
6.1.3.5 By Indication
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Raw Material
6.1.4.4 By End User
6.1.4.5 By Indication
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Raw Material
6.1.5.4 By End User
6.1.5.5 By Indication
6.2 North America
6.2.1 Introduction
6.2.2 United States
6.2.3 Canada
6.3 Europe
6.3.1 Introduction
6.3.2 U.K
6.3.3 Spain
6.3.4 Germany
6.3.5 Italy
6.3.6 France
6.4 Asia-Pacific
6.4.1 Introduction
6.4.2 China
6.4.3 India
6.4.4 Japan
6.4.5 Australia
6.4.6 South Korea
6.5 Latin America
6.5.1 Introduction
6.5.2 Brazil
6.5.3 Argentina
6.5.4 Mexico
6.5.5 Rest of Latin America
6.6 Middle East & Africa
6.6.1 Introduction
6.6.2 Middle-East
6.6.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Boston Scientific Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Medtronic
8.3 Terumo Corporation
8.4 B. Braun Melsungen AG
8.5 Jotech GmbH
8.6 Meril Life Pvt. Ltd.
8.7 Abbott Laboratories
8.8 Biosensors International Ltd
8.9 Cook Medical Inc.
8.10 Cordis Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, Collaborations, and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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