DUBLIN, March 22, 2024 /PRNewswire/ — The “Global Balloon Catheter Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Balloon Catheter Market is anticipated to be valued at around US$ 6.99 billion by 2030 from US$ 4.43 Billion in 2023, growing at a CAGR of 6.73% during 2024-2030
The growing prevalence of age-associated cardiovascular problems propels balloon catheter demand, significantly increasing the medical device market and enhancing the care of growing older populations globally. Offering minimally invasive alternatives to conventional surgeries, balloon catheters lead to faster recuperation instances, decreased dangers, and progressed patient effects, driving market increase towards minimally invasive tactics.
Moreover, continuous materials, design, and functionality improvements enhance balloon catheters’ effectiveness and flexibility, while progressed imaging techniques contribute to extra precision and improved treatment alternatives. Beyond their traditional role in angioplasty for opening blocked arteries, balloon catheters are diversifying their packages throughout specialties, urology, oncology, and neurology. This evolution into multiple scientific domains propels the market’s boom, reflecting the gadgets’ adaptability and broadening their effect in numerous healthcare settings.
Likewise, rising healthcare spending in emerging economies propels the escalating demand for advanced clinical technologies, including balloon catheters. Foreseeing development in customized remedies, tailored catheters are predicted to heighten efficacy and safety. The integration of telemedicine in balloon catheter processes promises enhanced accessibility and cost-effectiveness, specifically in remote regions. Artificial Intelligence (AI) technology is set to help in prognosis, treatment planning, and image evaluation, bolstering the precision and effectiveness of balloon catheter tactics.
While North America and Europe currently dominate, the Asia Pacific vicinity reports the swiftest increase due to its significant population and growing healthcare spending. Pioneering players like Cardiant Inc. and the Terumo-MicroPort Scientific joint venture exemplify revolutionary tactics, enriching the dynamic balloon catheter market panorama.
Drug Eluting Balloon Catheters (DEBCs) have the potential to dominate the market and revolutionize vascular interventions for a broader range of patients worldwide
By product type, the Global Balloon Catheter Market is divided into Normal Balloon Catheter, Drug Eluting Balloon Catheter, Cutting Balloon Catheter, Scoring Balloon Catheter, Stent Graft Balloon Catheter, and Others. Drug Eluting Balloon Catheters (DEBCs) release anti-proliferative drugs post-angioplasty, minimizing restenosis hazards compared to plain balloon catheters. This results in advanced long-term period results, reducing repeat processes and healthcare charges.
DEBCs showcase versatility, applicable to a broader range of vessel sizes and places than traditional bare-metal stents, expanding treatment alternatives. Their minimally invasive nature, corresponding to ordinary balloon catheters, guarantees faster restoration, fewer headaches, and a progressed patient experience, fuelling the trend towards minimally invasive techniques. This multifaceted gain positions DEBCs as a significant development in interventional cardiology.
Coronary artery disease (CAD), the leading cause of cardiovascular death worldwide, is undeniably fuelling a significant surge in the global balloon catheter market
By indication, the Global Balloon Catheter Market is fragmented into Coronary Artery Disease and Peripheral Vascular Disease. Globally, an anticipated 17.9 million individuals contend with Coronary Artery Disease (CAD), a figure projected to grow due to aging populations, dangerous lifestyles, and urbanization.
CAD poses the dangers of narrowed coronary heart arteries, leading to heart attacks, strokes, and coronary heart failure. In the treatment panorama, balloon catheters are pivotal in minimally invasive approaches like angioplasty and stenting, mitigating signs and symptoms by restoring blood flow. Their benefits, which include quicker restoration, reduced dangers, and shorter hospital stays than standard bypass surgery, make them relatively preferred choices. Various catheter kids cope with particular needs, and continuous technological improvements drive precision, efficacy, and market boom.
Nylon continues to hold its ground as the leading raw material in the global balloon catheter market
Nylon, prized for its muscular tensile strength, is essential for catheters navigating sensitive blood vessels for the duration of balloon inflation. Its biocompatibility reduces immunological responses, minimizing irritation or rejection risks. Nylon’s flexibility permits particular catheter maneuvering, facilitating focused treatment with minimum damage.
Cost-effective in comparison to alternatives like polyurethane, nylon is easily reachable for producers and healthcare companies. Ongoing innovations, including enhanced biocompatibility coatings, ensure its edge in performance. Versatile in various catheter kinds, nylon adapts to applications from angioplasty to drug-eluting balloons, extending into rising medical fields like urology, neurology, and oncology.
Rise of clinics in the global balloon catheter market reflects a growing demand for accessible, affordable, and convenient healthcare solutions
Compared to hospitals, clinics offer inexpensive methods with lower overheads and administrative burdens, probably attracting uninsured or underinsured people. Clinics offer convenience with shorter wait times and flexible scheduling, improving accessibility for brief diagnosis and treatment. Technological improvements in balloon catheter technology and imaging structures have streamlined strategies, making them shorter, less complicated, and more precise for safe outpatient settings. The surrounding health facility aligns with the trend of minimally invasive techniques, promoting quicker recuperation instances and reduced hospitalization needs, emphasizing the developing significance of clinics in current healthcare.
United States holds a substantial share of the global balloon catheter market
The U.S., housing premier biomedical research establishments and leading medical device agencies, is a hotbed of balloon catheter innovation in materials, design, and capability. Strong intellectual property protection incentivizes research and development, yielding patented technology with a competitive aspect. A sturdy scientific research infrastructure ensures rigorous testing before market access.
The U.S. gives market advantages with its massive and affluent population, advanced healthcare system, and well-established supply chain. Regulatory favourability is evident through a streamlined FDA approval process, high requirements, and a predictable regulatory environment, supplying stability and confidence for companies investing in the balloon catheter market.
Company Analysis
- Abbott Laboratories
- Becton Dickinson and Company
- Cardinal Health
- Teleflex Incorporated
- Medtronic Plc.
- Johnson and Johnson
- Edwards Lifesciences Corporation
- Stryker Corporation
- Smith & Nephew
Product Type – Global Balloon Catheter Market breakup from 6 viewpoints:
- Normal Balloon Catheter
- Drug Eluting Balloon Catheter
- Cutting Balloon Catheter
- Scoring Balloon Catheter
- Stent Graft Balloon Catheter
- Others
Indication – Global Balloon CatheterMarket breakup from 2 viewpoints:
- Coronary Artery Disease
- Peripheral Vascular Disease
Raw Materials – Global Balloon Catheter Market breakup from 3 viewpoints:
- Polyurethane
- Nylon
- Others
End-User – Global Balloon CatheterMarket breakup from 4 viewpoints:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Diagnostic Centers
Country – Market breakup from 26 Country Global Balloon Catheter Industry viewpoints:
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherland
- Turkey
Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Malaysia
- Indonesia
- Australia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Rest of the World
For more information about this report visit https://www.researchandmarkets.com/r/ltzmuy
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