PTCA Balloon Catheters Market on position to touch $1,431 Million, Worldwide by 2023

Percutaneous transluminal coronary angioplasty (PTCA) is a minimally-invasive procedure used to open blocked or narrowed coronary arteries. Use of PTCA balloons provides an effective minimally invasive approach to widen a narrowed coronary artery. During the procedure, an empty balloon (balloon catheter) is passed into narrow arteries with the help of a wire (generally a catheter). Once the balloon reaches the desired position, it is inflated. This results into the displacement of stenosis (narrowing) from the vessel wall. The balloon is removed after the procedure. PTCA is generally followed by stent placement, but is not mandatory.

Global PTCA Balloon Catheters Market was valued at $1,064 million in 2016, and is expected to reach $1,431 million by 2023, growing at a CAGR of 4.3% from 2017 to 2023.

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The normal balloon catheter segment is expected to maintain its dominant position during the analysis period, owing to reduced complications associated with them when compared to other product types. The drug eluting balloon catheter segment is expected to grow at a rapid CAGR of 4.7% throughout the forecast period.

There has been an increased use of drug-eluting balloons in the past few years. The use of drug-eluting balloons has resulted in the reduction in the use of vessel implants (such as stents), which may cause vessel fracture. In addition, drug-eluting balloons are safe and they provide the highest rate of restoration of normal blood flow when compared to other balloon catheters.

Increase in ageing population and changes in lifestyle leading to hypertension, obesity, and other risk factors that lead to vascular disorders is expected to propel the growth of the PTCA balloon catheters market. In addition, technological advancements and reclassification of some PTCA catheters from class III to class II device by FDA, and increase in prevalence of cardiovascular disorders are expected to further drive the market growth. However, availability of alternative therapies, and complications associated with PTCA balloon catheters restrain this growth. The upsurge in demand for minimally invasive surgeries, rise in disposable incomes, and growth prospects in emerging economies of Asia-Pacific and LAMEA are expected to provide numerous opportunities for market growth during the forecast period.

Key Findings of the PTCA Balloon Catheters Market:

• Polyolefin copolymer (POC) accounted for more than half of the materials segment in 2016
• The RX balloon catheter segment accounted for more than four-fifths of the global market in 2016
• Drug eluting balloon catheter is expected to grow at the highest CAGR of 4.7% from 2017 to 2023
• The semi-compliant segment accounted for four-fifths of the global market in 2016
• Asia-Pacific is expected to grow at the highest CAGR of 5.7%, from 2017 to 2023

North America accounted for more than two-fifths of the global market in 2016, and is expected to remain dominant throughout the forecast period. This is attributed to the increase in incidence of cardiovascular diseases; growth in geriatric population; and changing lifestyle of people that leads to cardiac abnormalities. In addition, high adoption rate of technologically advanced devices and presence of highly sophisticated healthcare infrastructure are expected to present new growth opportunities to the players in this market.

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The major companies profiled in the report include The list of key players profiled in this report include Abbott Laboratories, B. Braun Melsungen AG, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, C. R. Bard, Inc., Cardinal Health, Inc., Medtronic plc, MicroPort Scientific Corporation, Terumo Corporation, and THE SPECTRANETICS CORPORATION.

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