Balloon Catheter Market Size Forecast Report 2024-2030

• Posted by Renub Research Oct 30 Filed in Business 9 views
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  Global Balloon Catheter Market Analysis

  The Global Balloon Catheter Market is projected to reach approximately US$6.99 billion by 2030, growing at a CAGR of 6.73% from 2024 to 2030, as reported by Renub Research. The market was valued at US$4.43 billion in 2023.

  Balloon catheters are flexible medical devices that play a crucial role in treating various vascular conditions. These essential tools assist healthcare professionals in navigating the complexities of vascular health both non-invasively and efficiently during a range of medical procedures. A balloon catheter consists of a flexible tube with an inflatable balloon at its tip. Constructed from advanced medical-grade materials, these catheters undergo stringent quality checks to ensure safety and precision during use. The design of a balloon catheter is tailored to meet the demands of various medical scenarios, with the inflatable balloon serving as a focal point for a range of interventional treatments while the flexible tube allows for easy navigation through intricate arterial pathways.

  Global Balloon Catheter Market Trends

  According to the United Nations, the global population has more than tripled since the mid-20th century, reaching 8.0 billion by mid-November 2022. This number is expected to rise to nearly 9.7 billion by 2050, with a potential peak of around 10.4 billion in the mid-2080s. As the population ages, the demand for medical interventions, particularly for age-related cardiovascular diseases, is increasing, driving the balloon catheter market.

  The American Heart Association reports that the incidence of cardiovascular disease (CVD) is significant among older adults: approximately 35-40% in those aged 40-60, 77-80% in those aged 60-80, and over 85% in individuals over 80. The market is fueled by the rising prevalence of age-related cardiovascular conditions and the need for effective treatments in an aging population.

  The Journal of the American Heart Association estimates that 55% to 98% of older adults (aged 60 and above) suffer from multimorbidity, with CVD being one of the most common conditions. Research indicates that only 17% of elderly patients with coronary heart disease are free from other chronic illnesses. It is anticipated that over two-thirds of individuals over 70 will have related noncardiovascular comorbidities, with 70% expected to develop CVD.

  Advancements in lead generation technology are crucial for medical device companies, including those in the balloon catheter sector. Recent innovations focus on utilizing advanced materials and technologies to enhance the efficiency of lead generation processes. Techniques like 3D printing and laser cutting have enabled the development of more personalized and precise lead structures, improving performance and reducing costs while shortening the design-to-production timeline.

  In November 2023, TekniPlex Healthcare showcased its expertise in advanced materials science at the Medtec Innovation Forum in Shanghai, highlighting its newly developed PTA/PTCA Balloon Catheter Tubing for angioplasty procedures.

  Asia-Pacific Balloon Catheter Market

  The Asia-Pacific balloon catheter market is anticipated to grow due to rising populations and increased healthcare spending. Efforts from government and non-government organizations to raise awareness about cardiovascular diseases are expected to further boost the market.

  A Bain & Company survey predicts that healthcare spending in the Asia-Pacific region will grow at the fastest rate, accounting for over 20% of global expenditure by 2030. Despite this potential, challenges such as access to care, cost, and quality remain significant hurdles for healthcare systems. The survey indicates that nearly half of all consumers, particularly 58% of Gen Z, are willing to pay more for healthcare in exchange for improved health outcomes and experiences.

  In 2022, age-standardized CVD death rates in high-income Asia-Pacific countries varied significantly, from 72.7 to 252.6 per 100,000. In June 2023, the Asia-Pacific Cardiovascular Disease Alliance (APAC CVD Alliance) was formed to improve heart health and reduce the burden of cardiovascular diseases across nine Asian health systems, including Australia, China, India, and others. This coalition includes patient organizations, health professionals, academia, corporate partners, and a global health think tank, with ACCESS Health International providing secretariat support.

  Global Balloon Catheter Industry News

  Key players in the global balloon catheter market include Abbott Laboratories, Becton Dickinson and Company, Cardinal Health, Teleflex Incorporated, Medtronic Plc, Johnson & Johnson, Edwards Lifesciences Corporation, Stryker Corporation, and Smith & Nephew.

  • In December 2023, Summa Therapeutics announced FDA approval for its new line of injectable angioplasty balloon catheters designed for treating peripheral artery disease.
  • In June 2023, the Advance Serenity hydrophilic PTA balloon catheter product line expanded, offering more options for interventionists performing peripheral procedures in the U.S. and Canada.
  • At the LINC conference in Leipzig, Germany, in June 2023, BIOTRONIK announced the limited distribution of its Oscar® multipurpose peripheral catheter.
  • In May 2022, the FDA approved the IN.PACT 018 Paclitaxel-Coated PTA Balloon Catheter, intended for treating peripheral arterial disease in the superficial femoral and popliteal arteries, as announced by Medtronic.
  • In April 2022, Nipro Medical Corporation prepared for the release of its second-generation Cronus high-pressure PTA balloon catheter in the U.S. market.

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  Product Type – Market breakup from 6 viewpoints:

  1.    Normal Balloon Catheter

  2.    Drug Eluting Balloon Catheter

  3.    Cutting Balloon Catheter

  4.    Scoring Balloon Catheter

  5.    Stent Graft Balloon Catheter

  6.    Others

   

   

  Indication – Market breakup from 2 viewpoints:

  1.    Coronary Artery Disease

  2.    Peripheral Vascular Disease

   

   

  Raw Materials – Market breakup from 3 viewpoints:

  1.    Polyurethane

  2.    Nylon

  3.    Others

   

   

  End-User – Market breakup from 4 viewpoints:

  1.    Hospitals

  2.    Clinics

  3.    Ambulatory Surgical Centers

  4.    Diagnostic Centers

   

   

  Country – Market breakup from 26 Country Global Balloon Catheter Industry viewpoints:

  1.    North America

   

  1.1    United States

  1.2    Canada

   

  2.    Europe

   

  2.1    France

  2.2    Germany

  2.3    Italy

  2.4    Spain

  2.5    United Kingdom

  2.6    Belgium

  2.7    Netherland

  2.8    Turkey

   

  3.    Asia Pacific

   

  3.1    China

  3.2    Japan

  3.3    India

  3.4    South Korea

  3.5    Thailand

  3.6    Malaysia

  3.7    Indonesia

  3.8    Australia

  3.9    New Zealand

   

  4.    Latin America

   

  4.1    Brazil

  4.2    Mexico

  4.3    Argentina

   

  5.    Middle East & Africa

   

  5.1    Saudi Arabia

  5.2    UAE

  5.3    South Africa

   

  6.    Rest of the World

   

   

  All companies have been covered from 3 viewpoints:

  •    Overview

  •    Recent Developments

  •    Revenue

   

   

  Company Analysis:

  1.    Abbott Laboratories

  2.    Becton Dickinson and Company

  3.    Cardinal Health

  4.    Teleflex Incorporated

  5.    Medtronic Plc.

  6.    Johnson and Johnson

  7.    Edwards Lifesciences Corporation

  8.    Stryker Corporation

  9.    Smith & Nephew

   

  About the Company:

  
  Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 9000 syndicated reports and worked on more than 750 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

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