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Angioplasty Balloons Market: Size, Share, and Insights for Forecasted Growth by 2033
Angioplasty Balloons Global Market Report 2024
According to The Business Research Company's, The angioplasty balloons market size has grown steadily in recent years. It will grow from $2.6 billion in 2023 to $2.73 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to increasing clinical trials, decreasing regulatory hurdles, rising physician training programs, growing reimbursement coverage, and expanding patient awareness and education.
The angioplasty balloon market size is expected to see steady growth in the next few years. It will grow to $3.31 billion in 2028 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period can be attributed to aging population, rising prevalence of cardiovascular diseases, expanding healthcare infrastructure in emerging markets, increasing adoption of minimally invasive procedures, and growing demand for interventional cardiology. Major trends in the forecast period include personalized treatment approaches, integration of advanced imaging technologies, shift towards outpatient procedures, expansion of telemedicine for post-operative care, and emphasis on cost-effective healthcare solutions.
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Market Drivers and Trends:
The increasing incidence of cardiovascular diseases is expected to propel the angioplasty balloons market going forward. Cardiovascular disease refers to a group of conditions affecting the heart and blood vessels, often leading to complications such as heart attacks or strokes. Cardiovascular disease is on the rise due to sedentary lifestyles, unhealthy dietary habits, rising obesity rates, and aging populations. The angioplasty balloons are utilized in cardiovascular disease to widen narrowed or blocked blood vessels, restoring proper blood flow and reducing the risk of complications such as heart attacks or strokes. For instance, in May 2023, according to the Centers for Disease Control And Prevention, a US-based governmental organization, the percentage of coronary heart disease in adults aged 18 and over in 2020 was 4.6%, which slightly increased to 4.9% in 2021. Therefore, the increasing incidence of cardiovascular diseases drives the growth of the angioplasty balloons market.
Major companies operating in the angioplasty balloons market are focused on developing products with PowerTrac technology to gain a competitive edge. PowerTrac technology is an innovative system utilized in medical devices, particularly in angioplasty balloons, to enhance tracking and pushability through tortuous vessels during procedures. For instance, in July 2021, Medtronic Plc, an Ireland-based medical technology company, launched a Prevail drug-coated balloon (DCB) catheter in Europe for the treatment of coronary artery disease. The Prevail DCB uses PowerTrac technology and a hydrophilic coating to provide superior deliverability and two times more pushability. This enables greater control for tortuous anatomies. It employs a fast-absorbing drug, paclitaxel, to treat de novo lesions, small vessel disease, and in-stent restenosis (ISR). Unlike drug-eluting stents (DES), DCB angioplasty doesn't necessitate a permanent implant and is preferred for situations where DES implantation is unsuitable or technically difficult.
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Major Key Players of the Market:
Johnson & Johnson, Abbott Laboratories, Medtronic Plc, Becton Dickinson, Koninklijke Philips N.V, Boston Scientific Corporation, B. Braun SE, Terumo Corporation, Cook Medical, Biotronik SE, Merit Medical Systems Inc, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corporation, AngioDynamics, Cordis, SurModics, iVascular, Hexacath, Balton Sp, Cardionovum, QualiMed Innovative Medizinprodukte GmbH, Acrostak, Panmed US Inc., Translumina GmbH, Concept Medical Inc
Angioplasty Balloons Market 2024 Key Insights:
• The angioplasty balloon market size is expected to see steady growth in the next few years. It will grow to $3.31 billion in 2028 at a compound annual growth rate (CAGR) of 5%.
• Rising Cardiovascular Disease Rates Fuel Angioplasty Balloon Market Growth
• Next-Gen Angioplasty Balloons Revolutionize Treatment With PowerTrac Technology
• North America was the largest region in the angioplasty balloons market in 2023
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