Balloon Catheter Market Size to Surpass USD 6.70 Billion by 2030, Size, Share, Emerging Trends, Business Strategies, Competitive Landscape and Regional Overview
SEATTLE, Feb. 2, 2023 /PRNewswire/ -- Data Bridge Market Research has recently published the comprehensive business research on "Balloon Catheter Market" includes historic data, present market trends, future product environment, marketing strategies, technological innovation, upcoming technologies, emerging trends or opportunities, and the technical progress in the related industry. Balloon Catheter Market research report gives critical information about the market and business landscape. It suggests how the company is perceived by the target customers and clients that are desired to reach. The report helps understand how to connect with customers, how to stack up against the competition, and how to plan next steps. It plays an important role in the process of developing products and services, bringing them to the marketplace, and marketing them to consumers. For many businesses, Balloon Catheter Market report acts as a key component in developing marketing strategy by providing a fact-based foundation for estimating sales and profitability.
Data Bridge Market Research analyses that the balloon catheter market which was USD 4.05 billion in 2022, is expected to reach USD 6.70 billion by 2030, at a CAGR of 6.5% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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According to the World Health Organization, 17.9 million people die each year from CVDs (cardiovascular diseases), accounting for approximately 32% of all deaths worldwide. A balloon catheter, for instance, it is a delicate catheter appliance with an inflatable balloon at its tip that is inserted into a vessel or duct and then blown up to clear the blockage. The balloon catheter is primarily used to treat heart-related diseases caused by diabetes, high blood pressure, specifically coronary heart disease, and high blood cholesterol levels. The use of these catheters in the healthcare industry has been steadily increasing, and these devices have become an essential part of medical diagnostics and treatment.
A balloon catheter is a novel medical device consisting of a guidewire and a catheter inserted into the femoral artery in the leg or, in some cases, the radial artery in the arm to treat constricted blood vessels. A balloon catheter can also be used to perform a minimally invasive procedure to open blocked or narrowed coronary arteries caused by coronary artery disease (CAD).
Opportunities
- Increased demand for catheters in health care industry
The increased prevalence of various chronic heart diseases caused by diabetes or high cholesterol has increased the demand for catheters in the health care industry. According to the World Health Organization, cardiovascular diseases killed nearly 17.7 million people in 2015, with coronary heart disease accounting for 7.4 million of those deaths. Because of a high prevalence rate and a lack of health care services in rural areas, the majority of deaths occurred in developing countries. According to the UNFPA (United Nations Population Fund), approximately 12.8% of the global population is over 60 years old, with this figure expected to rise to 22% by the end of 2050. Thus, an increase in the geriatric population and the demand for minimally invasive procedures are driving the growth of the balloon catheter market in both developing and developed economies.
Top Leading Key Players of Balloon Catheter Market:
- BIOTRONIK SE & Co. KG (Germany)
- MicroPort Scientific Corporation (China)
- Jotech GmbH (Germany)
- Johnson & Johnson Private Limited (U.S.)
- Vascular Solutions, Inc. (U.S.)
- Abbott (U.S.)
- BD (U.S.)
- Boston Scientific Corporation (U.S.)
- Medtronic (Ireland)
- Cook (U.S.)
- Johnson & Johnson Private Limited (U.S.)
- Smith+Nephew (Germany)
- Cardinal Health (U.S.)
- Terumo Corporation (Japan)
- Conavi Medical (U.S.)
- Edwards Lifesciences Corporation (U.S.)
- Infraredx, Inc. (U.S.)
- Getinge AB (Sweden)
- Coloplast Corp (Denmark)
- McKesson Medical-Surgical (U.S.)
Recent Developments
- In 2020, Boston Scientific Corporation introduced the Opticross 35 imaging catheter for peripheral imaging. With a greater IVUS depth and 360-degree clear image quality, this product adds to the company's extensive product portfolio's depth and variety.
- In 2021, Medtronic PLC announced a new type of catheter to its arsenal: a balloon catheter that can elute drugs at the target site. This product, known as the Prevail Drug-Coated Balloon in the European market for CAD, improves the catheter's pushability as well as its deliverability into complex anatomies. The drug on the balloon is absorbed into the target arterial tissue, attempting to reduce the likelihood of in-stent restenosis.
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Core Objective of Balloon Catheter Market:
Every firm in the Balloon Catheter market has objectives but this market research report focus on the crucial objectives, so you can analysis about competition, future market, new products, and informative data that can raise your sales volume exponentially.
- Balloon Catheter Market Size and growth rate factors.
- Important changes in the future Balloon Catheter Market.
- Top worldwide competitors of the Market.
- Scope and product outlook of Balloon Catheter Market.
- Developing regions with potential growth in the future.
- Tough Challenges and risk faced in Market.
- Global Balloon Catheter top manufacturers profile and sales statistics
Balloon Catheter Market Analysis:
Drivers
- Increasing rate of cardiovascular diseases
The market is expected to expand due to an increase in cardiovascular disease cases worldwide. Cardiovascular diseases are the leading cause of death worldwide. According to the World Health Organization, 17.9 million people died in 2019 as a result of cardiovascular diseases. Stroke and heart attack were responsible for approximately 85% of these deaths. Globally, an estimated 1.13 billion people suffer from hypertension, which has become a major cause of brain, heart, kidney, and other related problems. Balloon catheters are used to treat a variety of cardiovascular issues. Cardiac catheterization is an imaging procedure that allows a doctor or surgeon to assess the function of a patient's heart. These trends are expected to have a significant impact on overall market growth.
- Increasing geriatric population
Globally, the market is expected to expand as the geriatric population grows. In 2019, there were approximately 703 million people aged 65 and older, according to a United Nations report. The global population of older people is expected to double to approximately 1.5 million by 2050, according to a UN report. The financial strain on old-age support systems will be significant as the population ages. The dynamics of local perfusion and brain blood flow during ageing are expected to be defined by a number of factors, including automatic dysregulation, arterial stiffness, the blood-brain barrier, and neurovascular uncoupling. Long-term, innovative, and advanced catheters have been widely used in older adults to improve overall quality of life and catheter management. Balloon catheter are widely expected to be used in the elderly population, which will benefit the market.
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Balloon Catheter Market Segmentations:
Indication
- Coronary Artery Disease
- Peripheral Vascular Disease
End-Users
- Public Hospitals and Private Hospitals
- Ambulatory Surgical Centres
- Cardiac Catheterisation Laboratories
Raw Material
- Nylon
- Polyurethane
- Others
Balloon Type
- High-Pressure Balloons
- Elastomeric Balloons
Catheter Type
- Over-The-Wire (OTW) Balloon Catheters
- Rapid Exchange (RX) Balloon Catheters
- Fixed-Wire (FW) Balloon Catheters
- Normal balloon catheter
- Drug eluting balloon catheter
- Cutting balloon catheter
- Scoring balloon catheter
- Stent graft balloon catheter
Balloon Catheter Market Country Level Analysis
The countries covered in the balloon catheter market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the balloon catheter market due to the availability of advanced healthcare facilities, increased infrastructure and healthcare expenditure and increased patient awareness are the primary factors fuelling the region's balloon catheter market development.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to ongoing improvements in health care infrastructure and the growth of medical tourism across several developing economies, the market in the region is developing.
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Balloon Catheter Market Report Answers the Following Questions:
- How much revenue will the Balloon Catheter market generate by the end of the forecast period?
- Which market segment is expected to have the maximum market share?
- What are the influencing factors and their impact on the Balloon Catheter market?
- Which regions are currently contributing the maximum share of the overall Balloon Catheter market?
- What indicators are likely to stimulate the Balloon Catheter market?
- What are the main strategies of the major players in the Balloon Catheter market to expand their geographic presence?
- What are the main advances in the Balloon Catheter market?
- How do regulatory standards affect the Balloon Catheter market?
Restraints/Challenges:
- Growing healthcare expenditure
Growing healthcare expenditure is one of the major factors that will obstruct market growth and will further challenge the growth of the balloon catheter market during the forecast period.
This balloon catheter market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the balloon catheter market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Balloon Catheter Market: Regulations
- Market Overview
- Global Balloon Catheter Market, By Indication
- Global Balloon Catheter Market, By Raw Material
- Global Balloon Catheter Market, By Balloon Type
- Global Balloon Catheter Market, By Catheter Type
- Global Balloon Catheter Market, By End User
- Global Balloon Catheter Market, By Region
- Global Balloon Catheter Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
To Get Full Table of Contents, Visit @ https://www.databridgemarketresearch.com/toc/?dbmr=global-balloon-catheter-market
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