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Balloon Catheters Market Size, Share, Trends, and Growth 2019-2026




(Medical-NewsWire.com, December 18, 2019 ) Market Overview

The global balloon catheters market is expected to grow at a CAGR of 6.1 % to reach a market value of USD YY million by 2026.

The balloon catheter is a flexible and delicate catheter device type with a balloon-like, attached at its tip. This balloon can be inflated or deflated when the catheter is in place to enlarge or create a passageway.

Balloon Catheters are primarily used to treat heart-related diseases, specifically coronary heart disease caused due to diabetes, high cholesterol level in blood and high blood pressure.

Other applications of balloon catheters are renal denervation, cryoablation, drug delivery, perfusion, and atherectomy, etc., Utilization of these catheters has been consistently increasing in the health care industry with an increase in cardiac diseases, and has become an essential part of medical diagnostics and treatment.



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Market Drivers and Restraints

The significant drivers of the global balloon catheter market are the increasing incidences of cardiac diseases, the rising geriatric population, growing demand for minimally invasive surgery, and increasing government initiatives like favorable reimbursement policies.

Technological advancements and increasing R&D are also expected to drive the market. Additionally, the patient population suffering from the end-stage renal disease of which the majority of these patients undergoing catheters surgery is also likely to increase the use of balloon catheters for treatment.

According to Coronary Artery Disease among Asian Indians (CADI) Research Foundation, around 60,000 coronary artery bypass surgery performed every year in India. Asian Indians constitute a fifth of the global population and have been noted to have the highest Coronary artery disease (CAD) rates.

The number of coronary artery bypass surgeries will keep on rising due to increasing geriatric population with diabetes cases and high blood cholesterol level.

However, a high cost of stenting treatment and coronary angioplasty, the risk of infection and artery collapse associated with balloon catheterization and choice of alternatives like bypass surgery, is likely to hinder the balloon catheters market.



Market Segmentation

Based on product type the market is segmented into ordinary balloon catheter, cutting balloon catheter, scoring balloon catheter, the drug-eluting balloon catheter, and stent graft balloon catheter.

The drug-eluting balloon catheter category is the fastest growing segment in 2017, as they are safe, provide the highest rate of restoration of normal blood flow when compared to other balloon catheters and the use of drug-eluting balloons results in reduced use of vessel implants (such as stents), which may cause vessel fracture.

Based on the type of material, the balloon catheters market can is segmented into polyurethane, nylon, and other kinds of materials such as silicon. Polyurethane is considered as the most desirable material used for the manufacturing of balloon catheters due to its tensile strength, hemocompatibility, and biocompatibility.

Other materials such as terephthalate and silicone which have a suitable coefficient of friction, pressure ratings, and radial force which minimizes vessel injury during insertion will contribute to the market growth.

Regarding disease indication, the market can be segmented into coronary artery disease and peripheral vascular disease among others. According to the World Health Organization (WHO), 2017, Coronary Artery Disease (CAD) is the most common type of heart disease.

In 2015, around 17.7 million people died due to cardiovascular disease worldwide, and out of these total deaths, about 8.8 million died due to CAD whereas peripheral Artery Disease (PAD) is estimated to affect 202 million people worldwide.

The end-user market is segmented into, ambulatory surgical centers, hospitals, cardiac catheterization laboratories, and others.



Geographical Share

Geographically, the global balloon catheters market is segmented into regional markets of North America, Europe, Asia Pacific, South America and Rest of the World. North America accounts for the largest share in the year 2017 for global balloon catheters market and is expected to remain dominant over the forecast period.

The primary causes are aging population, favorable FDA policies, an increase in the prevalence rate of diabetes and a rising cardiac arrest cases and coronary artery disease. According to the American Heart Association, peripheral artery disease affects about 8.5 million Americans over the age of 40.

Other significant factors fueling the growth of the balloon catheters market in the region is the increased availability of advanced health care facilities and infrastructure, patient awareness and health care expenditure.

Asia-Pacific region is expected to show the highest growth rate due to the increasing incidence rate of diabetes, heart attacks, and other heart-related diseases.

According to the 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, which has a direct proportion on cardiac disease.

Also, the increase in the minimally invasive procedure is expected to raise the demand for balloon catheters in developing regions.



Competitive Trends

Several companies have adopted merger and acquisitions policies to help them to stand out as strong competitors in the market and also expand its sales in the global balloon catheters market. New product launches are another strategy adopted by the leading players to improve their market share and dominance.

November 2018, Johnson & Johnson announced Biosense Webster, Inc., a worldwide leader in the diagnosis and treatment of heart arrhythmias, has enrolled and treated the first patient in its STELLAR-U.S. Investigational Device Exemption (IDE) study.

The study will evaluate the safety and effectiveness of HELIOSTAR Multi-electrode Radiofrequency (RF) Balloon Ablation Catheter in treating symptomatic drug refractory recurrent paroxysmal (intermittent) atrial fibrillation (AF). Up to 640 patients will be enrolled in as many as 40 clinical sites worldwide.

June 2018, Biometrics acquired FutureMatrix Interventional. FutureMatrix Interventional specializes in the design and manufacture of interventional catheters for the cardiovascular and urinary markets.

October 2018, Nordson acquired Clada Medical Devices, a Galway, Ireland-based design and development contract manufacturer primarily focused on balloons and balloon catheters.



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