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Coronary Balloon Products Market Know the Scope and Trends
According to the latest research by InsightAce Analytic, the Global Coronary Balloon Products Market Size is valued at US$ 960.85 Mn in 2022 and is predicted to reach US$ 1188.30 Mn by the year 2031 at a 2.5 % CAGR during the forecast period for 2023-2031.
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Angioplasty is a minimally invasive endovascular procedure that includes Coronary Balloon Products and Percutaneous Transluminal Angioplasty (PTA) to restore blood flow by treating narrowed or obstructed arteries. The procedure utilizes balloon-tipped catheters, known as angioplasty balloons, to compress arterial plaque against the vessel walls, thereby improving circulation.
Recently, hospitals have redirected staff from cardiac departments to critical areas such as emergency departments (ED) and intensive care units (ICU), which has impacted market growth. Although this reallocation may result in a temporary slowdown, the angioplasty market is projected to experience substantial long-term growth. Nevertheless, high procedural costs and the risk of post-operative complications remain key challenges that may influence market expansion.
List of Prominent Players in the Coronary Balloon Products Market:
• Abbott Laboratories,
• Angiodynamic
• Becton Dickinson
• Biotroni
• Boston Scientific Corporation
• Braun Melsungen AG
• Cook Medical
• Cordis, Endocor GmbH
• Infinity Angioblast balloon
• Johnson & Johnson
• Koninklijke Philips N.V
• Medtronic plc
• Merit Medical System, Inc
• Oscor Inc
• Terumo Corporation.
Market Dynamics:
Drivers-
Coronary Balloon Products have become the preferred treatment option for patients with coronary and peripheral artery diseases, increasingly replacing open-heart surgery due to the growing prevalence of cardiovascular diseases (CVD) and the rising demand for minimally invasive procedures. The expanding global burden of cardiovascular conditions has created a critical need for precise treatment solutions with high success rates.
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Challenges:
Despite the promising growth outlook, the market faces several challenges. Limited awareness and understanding of Coronary Balloon Product procedures among both patients and healthcare providers can result in underutilization and slower adoption rates. Variability in reimbursement policies across healthcare systems and regions, with some instances of insufficient coverage, may also restrict patient access to these treatments. Additionally, the successful execution of these procedures requires specialized skills and experience from interventional cardiologists, and regions with a shortage of trained professionals may experience slower adoption.
Regional Trends:
North America is projected to capture a significant share of the Coronary Balloon Products market, driven by population growth, rapid urbanization, industrial development, and substantial investments in research and development by leading market players. Europe also represents a key market, supported by its well-established healthcare infrastructure, including an extensive network of hospitals, clinics, and specialized cardiac care centers. This advanced infrastructure ensures broad accessibility and availability of Coronary Balloon Products and related medical services, contributing to sustained market growth in the region.
Recent Developments:
• In July 2021, Medtronic has just unveiled the PrevailTM drug coated balloon (DCB) Catheter in Europe subsequent to obtaining the CE (Conformité Européene) designation. The Prevail DCB, a recently developed coronary drug-coated balloon (DCB), was employed in percutaneous coronary intervention (PCI) interventions for the management of stenotic or occluded coronary arteries in individuals diagnosed with coronary artery disease (CAD).
• In November 2020, Infinity Angioplasty Balloon Co. unveiled its ground-breaking angioplasty balloon platform, the Infinity Angioplasty Balloon Catheter, after completing a first-in-human clinical trial.
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Segmentation of Coronary Balloon Products Market-
By Product-
• PTAC balloon
• Nc balloon
By Material-
• Compliant Balloons
• Non-Compliant
• Semi-Compliant
By End-User
• Hospitals
• Cardiac Centres
• Ambulatory Surgical Centres
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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