Advanced Balloon Catheter Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented by Raw Material Type (Nylon, PET, Polyurethane, Others), By Application (Coronary Procedures, Peripheral Procedures, Neurovascular Procedures, and Other Procedures), End Users (Hospitals and Ambulatory Surgical Centers, Catheterization Laboratories, and Others), By Region, and Co
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationAdvanced Balloon Catheter Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented by Raw Material Type (Nylon, PET, Polyurethane, Others), By Application (Coronary Procedures, Peripheral Procedures, Neurovascular Procedures, and Other Procedures), End Users (Hospitals and Ambulatory Surgical Centers, Catheterization Laboratories, and Others), By Region, and Co
The Global Advanced Balloon Catheter Market is anticipated to witness a growth of steady CAGR in the forecast period, 2024-2028. This can be ascribed to the rising prevalence of different chronic heart diseases and growing geriatric populations across the region. The increasing demand for minimally invasive procedures in emerging countries and the development of advanced cardiovascular devices will further enhance the overall market demand for balloon catheters during the forecast period. The other factors supporting the market’s growth are the growing incidence of cancers in the pelvic region affecting the urinary system along with the technical development of drug-coated balloon catheters aimed at drug delivery at the site of action is expected to propel the growth of the market. Moreover, the rise in the research and development activities in the medical sector and the rise in the adoption of various new technology are the contributing factors to the growth of the market. As people age, they become more susceptible to cardiovascular diseases and other medical conditions that can be treated with balloon catheters. This has led to an increase in the number of people requiring medical treatment, which in turn has driven the demand for advanced balloon catheters.
The development and commercialization of advanced balloon catheters require regulatory approval from government agencies such as the FDA in the United States and the European Medicines Agency (EMA) in Europe. The approval process can be time-consuming and costly, and failure to obtain regulatory clearance can delay product launch and affect market penetration. Advanced balloon catheters face stiff competition from alternative treatment options such as stents, drug-eluting stents, and bypass surgery. These alternative treatments may offer better clinical outcomes, lower costs, or both, and may limit the adoption of advanced balloon catheters in certain patient populations. The reimbursement landscape for advanced balloon catheters is complex and varies by region and payer. Some insurance companies may not cover the full cost of the procedure, which can limit patient access and adoption of the technology. The successful use of advanced balloon catheters requires skilled healthcare professionals with specialized training and experience. The shortage of trained professionals can limit the adoption of the technology in certain regions or healthcare systems. Advanced balloon catheters have been subject to several product recalls and safety concerns in recent years. These incidents can damage the reputation of manufacturers and lead to reduced consumer confidence and adoption of the technology. As healthcare infrastructure continues to improve globally, there is an increase in access to healthcare services, which includes catheterization procedures. With an aging population, there is an increase in the number of individuals with chronic medical conditions such as urinary incontinence or bladder dysfunction. Catheters are often used to manage these conditions.
Increasing prevalence of cardiovascular diseases across the globe
According to the Central For Diseases Control, Every year, about 805,000 people in the United States have a heart attack and about 1 in 5 heart attacks are silent, the damage is done, but the person is not aware of it.
Advancements in surgical procedure propel the market growth
According to the American Cancer Society’s estimates for bladder cancer in the United States for 2022 are about 81,180 new cases of bladder cancer (about 61,700 in men and 19,480 in women) and about 17,100 deaths from bladder cancer (about 12,120 in men and 4,980 in women).
Favourable Reimbursement Landscape in Developed Economies Foster the Market Growth
In the developing region, the reimbursement procedure depends on the citizen’s fulfilment of the prerequisites documents so some developing countries like the U.S, the UK, Canada, and Japan have this procedure which will enhance the growth of the healthcare sector during the forecast period. However, different private insurance company also provide the reimbursement procedure for patients other than angioplasties procedures like kyphoplasty and sinuplasty are also reimbursed which will boost the market growth over the years. However, in Europe, in the case of usage of advanced balloon catheters, like drug-coated balloon catheters for a procedure, additional reimbursement is also offered considering the high cost of the device. Thus, the favourable reimbursement landscape for angioplasties and other balloon catheter procedures will significantly impact the sales of advanced balloon catheters. Companies are increasingly collaborating with healthcare providers, academic institutions, and other organizations to develop new technologies and improve patient outcomes. These partnerships allow for greater access to funding, expertise, and resources, leading to faster development and commercialization of advanced balloon catheter technologies.
Recent Developments
- In September 2021, Philips acquired Intact Vascular, a medical device company that specializes in the development of balloon catheter technologies for peripheral artery disease (PAD). The acquisition is expected to complement Philips' existing portfolio of imaging and diagnostic tools for cardiovascular diseases.
- In October 2019, Teleflex acquired Z-Medica, a medical device company that specializes in the development of hemostatic technologies for trauma and surgical applications. The acquisition included Z-Medica's line of resuscitation catheters, which are used to restore blood flow to blocked vessels.
- In July 2019, Merit Medical acquired Vascular Insights, a medical device company that specializes in the development of interventional radiology technologies. The acquisition included Vascular Insights' line of advanced balloon catheters for the treatment of peripheral artery disease.
- In December 2018, Boston Scientific acquired NxThera, a medical device company that specializes in the development of minimally invasive therapies for urologic diseases. The acquisition included NxThera's Rezum system, which uses water vapor therapy delivered via balloon catheter to treat benign prostatic hyperplasia (BPH).
- In February 2019, B. Braun acquired NxStage Medical, a medical device company that specializes in the development of renal care technologies. The acquisition included NxStage's line of advanced catheters for hemodialysis access, which are used to create vascular access for patients with end-stage renal disease.
Market Segmentation
In terms of country, the United States is expected to be a lucrative market in the forecast period due to the growing demand for advanced technology used for the treatment of cardiovascular diseases in the country.
Recent Development
- According to a press release, Advance Serenity is a hydrophilic-coated angioplasty balloon catheter designed to meet the technical needs of clinicians for treatment of patients who suffer from Peripheral Artery Disease (PAD) which includes below-the-knee disease.
Market Players
Abbott Laboratories., Boston Scientific Corporation., Medtronic plc,Terumo Corporation, MicroPort, Scientific Corporation, B. Braun Melsungen AG, Meril Life Sciences Pvt. Ltd., Hexacath, Tokai Medical Products Inc. are some of the leading players operating in the global advanced balloon catheter market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · By Raw Material Type · By Application · By End User · By Region |
| Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States; Canada; Mexico; France; Germany; United Kingdom; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Argentina; Colombia; South Africa; Saudi Arabia; UAE |
| Key companies profiled | Abbott Laboratories., Boston Scientific Corporation., Medtronic plc,Terumo Corporation, MicroPort, Scientific Corporation, B. Braun Melsungen AG, Meril Life Sciences Pvt. Ltd., Hexacath, Tokai Medical Products Inc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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