Global Balloon Catheters Market Is Ready To Grow Globally With Phenomenal Trend Diversity Between 2018 To 2025

Balloon catheter is a flexible device with a balloon at its tip, which may be inflated or deflated when the catheter is in place to create or enlarge a passageway, also it is used to remove the blockage or to open the narrowed coronary arteries caused by coronary arteries disease. Furthermore, the balloon catheters have other applications such as are used in renal denervation, cryoablation, drug delivery, perfusion, and atherectomy.

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As per the stats published in 2015 by The Heart Foundation, coronary artery disease causes around 380,000 fatalities yearly in the U.S. Furthermore, around 720,000 people suffer from heart attacks each year and among these, 205,000 are repetitive cases of a heart attack and 515,000 people suffers from a first incidence of heart attack in the U.S.

Market Dynamics:

Rising incidence of cardiovascular disease and coronary heart disease cases due to increase in the prevalence of diabetes, high blood pressure cases and number of smokers worldwide is expected to favor the demand for balloon catheters around the globe.According to World Health Organization (WHO), in 2015 around 17.7 million people died due to cardiovascular disease worldwide, and out of this total deaths around 7.4 million were die due to coronary heart disease. Furthermore, the majority of deaths are occurred in emerging economies due to high prevalence rate and lack of healthcare services in rural areas.

Increasing aging population and rising demand for minimally invasive procedures are the other factors leading to the growth of balloon catheters market in developed as well as emerging economies.

Increase in coronary artery disease prevalence and preference for minimally invasive procedure expected to favor the growth of balloon catheters market in the near future:

North America accounts for the largest share in the global balloon catheters market, followed by Europe. This is mainly attributed to rapidly aging population, increase in incidence rate of diabetes and increase in number of heart attack and coronary artery disease cases in this region. As per the stats published by Centers for Disease Control and Prevention (CDC), in 2012, around 29.1 people were living with diabetes in the U.S. Furthermore, in 2012, 1.7 million people were newly diagnosed for diabetes in U.S.

The balloon catheters market is expected to show high growth rate in Asia-Pacific region over the forecast period supported by increase in prevalence rate of lifestyle disease such as diabetes. According to World Health Organization (WHO), in 2016, around 110 million people were living with diabetes in China and this number is expected to reach 150 million in 2040 due to unhealthy habits and lack of physical activity.

Key Players:

The key players operating in balloon catheters market are,
• Abbott Laboratories,
• Becton Dickinson And Company,
• Boston Scientific Corporation,
• Bard Medical Division,
• B. Braun Melsungen AG,
• Johnson & Johnson,
• Teleflex Incorporated,
• Medtronic Plc,
• Edwards Lifesciences Corporation,
• OrbusNeich and Vascular Solutions Inc.

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Market Taxonomy:

This report segments the global balloon catheters market on the basis of product material and geography. On the basis of material, the market is categorized into polyurethane, nylon and other type of materials such as pebax. Among these, the polyurethane segment dominate the balloon catheters market throughout the forecast period. On the basis of geography, the market is divided into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among all regions, North America contributes major market share supported by increased incidence rate of cardiovascular disease and growing inclination of the populace towards minimally invasive procedures.

Detailed Segmentation:

• Global Balloon Catheters Market, By Material:
◦ Polyurethane
◦ Nylon
◦ Others

• Global Balloon Catheters Market, By Geography:
◦ North America
◦ Europe
◦ Asia Pacific
◦ Latin America
◦ Middle East
◦ Africa

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This release was published on openPR.