The global Angioplasty Balloons Market size is expected to value at USD 2.9 billion by 2024. The market is subject to witness a substantial growth due to the favorable laws & regulation by local governments, increasing approval rate by international authorities, growing rate of commercialization of several angioplasty balloons and increasing coronary & peripheral interventions.
Increasing demand for minimally invasive procedure over expensive stent placements procedures are anticipated to boost the market demand for angioplasty balloons over the next seven years. Globally, the angioplasty balloons industry is predicted to grow at CAGR of 3.2% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Recent technological advancement in healthcare sector coupled with development of innovative technologies such as 3D imaging technology are expected to fuel market expansion in the upcoming years. In addition, increasing patient pool and rising healthcare expenditure in both developed and developing economies across the globe are expected to pave the way for future of angioplasty balloon market.
Increasing disposable income and growing awareness regarding cost efficient products are expected to offer lucrative growth opportunities for industry participants over the next seven years. Introduction of advanced technologies in the angioplasty involving drug-eluting and cutting balloons is one of the major factor contributing for market growth, in the recent years. Moreover, lower failure rate of angioplasty balloons techniques over the traditional procedures is projected to expand overall market reach.
The angioplasty balloons industry is broadly categorized into three major segments based on the end-user application type such as ambulatory surgery centers, hospitals, and Catheterization Laboratories (Cath Lab). The ambulatory surgery centers is considered as one of the fastest growing segment in the angioplasty balloons market with substantial revenue generation in the last few years. Growing popularity of the ambulatory surgery centers segment is attributed to the easy availability of advanced services, lowered procedural time, and minimum medical expenses. The Catheterization Laboratories (Cath Lab) segment has also witnessed substantial growth owing to the growing user awareness.
The angioplasty balloons industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in medicine & pharmaceutical industry, higher approval rate from local government authorities such as FDA, and existence of well-established healthcare infrastructure.
Asia-Pacific region is predicted to hold major market share in the angioplasty balloons market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing healthcare expenditure, favorable government initiatives & policies, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the angioplasty balloon industry are Boston Scientific Co., Medtronic, Inc., Spectranetics, Inc., C. R. Bard, Inc., Abbott Laboratories, Inc., Cook Medical Ltd., Cardinal Health (Cordis) Co., ENDOCOR GmbH, and Johnson & Johnson Inc.
Type Outlook (Market Revenue in USD Million, 2013 - 2024)
• Normal Balloons
• Drug Eluting Balloons
• Cutting Balloons
• Scoring Balloons
Application Outlook (Market Revenue in USD Million, 2013 - 2024)
End Use Outlook (Market Revenue in USD Million, 2013 - 2024)
• Ambulatory Surgery Centers (ASCs)
• Catheterization Laboratories (Cath Lab)
Regional Outlook (Market Revenue in USD Million, 2013 - 2024)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
• South Africa
Research Support Specialist, USA