Angioplasty Balloons Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1912
Angioplasty Balloons Market size is projected to experience significant growth from 2017 to 2024.
Growing prevalence of cardiovascular diseases such as coronary and peripheral artery disease will drive angioplasty balloons market growth. Increasing geriatric population base will serve to be a high impact rendering factor owing to their higher susceptibility towards heart diseases. As per NIH data, coronary heart disease risk in men increases after the age of 45 years. Increasing number of angioplasty procedures coupled with growing demand for minimally invasive procedures will fuel industry growth. Less recovery and hospitalization period associated with the procedure providing the benefit of resuming regular work life soon will aid adoption.
Growing obesity levels due to lifestyle changes such as adoption of sedentary lifestyle with lack of physical activity and consumption of fat and sodium rich junk foods will further fuel growth. Increasing high blood pressure, unhealthy cholesterol levels and diabetes prevalence is leading to a higher risk of heart diseases among the population. Increasing incidence of smoking leading to blood vessel tightening and damage along with decreased oxygen supply to tissues would boost procedure demand. Angioplasty balloon technologies are witnessing rapid advancements. For instance, cutting and drug eluting balloons have now been developed. Risks associated with the procedure such as bleeding or infection at insertion site, artery dissection or perforation may deter adoption.
Drug eluting angioplasty balloons are forecast to exhibit robust growth over the forecast timeframe owing to their advantages such as more homogenous drug distribution. Drug eluting balloon on expansion releases the drug into the vessel wall and prevents the buildup of neointimal scar tissue. The balloons also minimize the need for implantation of foreign materials such as stents. Cutting balloons are forecast to grow at rapid rate owing to their ability to reduce vessel stretch and injury through longitudinal vessel scoring. They decrease the risk of neoproliferative response by dilating the target vessels with less force.
Coronary angioplasty balloon segment is slated to witness lucrative growth owing to the increasing prevalence of coronary heart disease. As per WHO statistics, approximately 7.4 million people died due to coronary artery disease in 2015. Hospitals as end-user of angioplasty balloons held significant revenue share due to availability of advanced equipment and services along with experienced and skilled staff.
U.S. angioplasty balloons market is forecast to undergo robust growth over the forecast timeframe due to increasing prevalence of cardiovascular diseases. As per American heart association, 1 out of 7 deaths in the country was attributable to coronary heart disease. Growing elderly population along with increasing obesity, blood pressure and type 2 diabetes rates will fuel growth. Presence of major industry players in the region along with the availability of advanced technology will further aid industry expansion. For instance, U.S. FDA approved Lutonix 035 (C.R. Bard) in October 2014 and In.Pact Admiral (Medtronic) in January 2015 for peripheral artery disease treatment.
Germany angioplasty balloons market should undergo rapid growth due to increasing incidence of heart diseases. Increasing number of angioplasty procedures is leading to an increase in demand. Rising elderly population along with growing obesity and diabetes prevalence will boost growth. The country has an advanced healthcare infrastructure providing improved access for cardiovascular disease. Presence of large number of PCI centers and increasing spending on cardiovascular diseases should augment future industry expansion.
Prominent industry participants include Medtronic, Abbott, Boston Scientific, C.R. Bard, and BIOTRONIK. The industry players adopt strategies such as acquisitions, geographical expansion and new product launch in order to enhance their market position. For instance, in February 2015, Medtronic launched In.Pact Admiral drug coated balloon in U.S. for treatment of patients suffering from peripheral artery disease.
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