According to MRFR analysis, the Global Angioplasty Balloons Market is expected to register a CAGR of 5.01% from 2020 to 2027 and hold a value of USD 3457.35 Million till 2027.
The Global Angioplasty Balloons Market is driven by several factors, such as technological advancements in balloons, increasing preference for minimally invasive procedures, surging prevalence of cardiac diseases, rising initiatives by public and private organizations to create awareness regarding angioplasty treatment options, increasing product launches and a number of clinical trials by the prominent players in the market. For instance, the European Atherosclerosis Society (EAS) creates awareness related to new developments and innovations to prevent atherosclerosis.
A lot of market players are dominating the global angioplasty balloons market size. The prominent players are involved in strategic agreements, product launches and joint ventures to sustain their market positions. For instance, in August 2017, C.R. Bard, a part of Becton, Dickinson and Company, received US Food and Drug Administration (FDA) premarket approval for its Lutonix drug-coated balloon to treat a new indication, stenosis in the arteriovenous (AV) fistulae of patients with end-stage renal disease.
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The global angioplasty balloons market has been segmented based on product type, application, and end user.
The market, based on product type, has been segmented into normal balloons, cutting balloons, drug eluting balloons, and scoring balloons. The market, based on normal balloons, held a major share in 2018 owing to the widespread use and high preference rate. The drug eluting balloons segment is expected to be the fastest-growing segment during the forecast period due to the continued innovations by players.
The market, based on application, has been segmented into coronary artery disease and peripheral artery disease. The coronary artery disease segment held the largest share in 2019 owing to the increased cardiac cases across the globe, whereas the peripheral artery segment is anticipated to be the fastest-growing segment due to the increasing strategic initiatives by key players in this segment by prominent players.
The global angioplasty balloons market has been segmented, based on end user, into hospitals, cardiac catheterization laboratories, ambulatory surgical centers, and others. The hospitals segment held the majority share of the market in 2019 owing to the increasing number of patient admissions due to cardiac diseases, whereas the cardiac catheterization laboratories segment is projected to be the fastest-growing segment during the study period owing to the increasing preference of these labs by medical professionals.
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East Africa. The Americas held the maximum share in 2019, owing to the high incidence rates of cardiac disorders, and strategic activities by major players in countries such as the US. The angioplasty balloons market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European angioplasty balloons market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The European market for angioplasty balloons is expected to hold a substantial share owing to the increase in the number of cardiac disorder cases. The angioplasty balloons market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The angioplasty balloons market in this region is anticipated to be the fastest-growing during the forecast period due to the increasing uptake and adoption rate of newer treatment options by medical professionals. The increasing patient pool and mortality rate due to cardiac diseases in these countries also fuel the market growth. For instance, in 2017, ischemic heart disease was the second-highest cause for death in Japan. The angioplasty balloons market in the Middle East Africa has been divided into the Middle East and Africa.
Some of the key players in the global angioplasty balloons market are B. Braun Melsungen AG (Germany), Abbott (US), Biotronik SE Co. KG (Germany), C.R. Bard (BD) (US), Boston Scientific Corporation (US), Cook (US), Medtronic (Ireland), Koninklijke Philips N.V. (Netherlands), Terumo Medical Corporation (Japan), Cordis (Cardinal Health) (US), and Endocor (Germany).
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