Global Balloon Catheter market is projected to garner revenue worth approximately 16.59 (USD Billion) by 2026 and is set to record a CAGR of more than 5.1% over the period from 2020 to 2026.
The global Balloon Catheter market is projected to garner revenue worth approximately 16.59 (USD Billion) by 2026 and is set to record a CAGR of more than 5.1% over the period from 2020 to 2026. The report offers assessment and analysis of the Balloon Catheter market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Balloon catheter is new kind of medical device encompassing guidewire as well as catheter that is implanted into the femoral leg artery or even into the radial artery of the hand-arm for clinically treating confined blood vessels. These products are generally used for preventing blood flow restriction caused as a result of atherosclerosis. Moreover, the medical instrument is used for treating heart ailments including coronary heart disorders occurring owing to hypertension, diabetes, and high blood cholesterol. In addition to this, the product has become a key component of clinical treatment and these instruments find massive utilization in healthcare sector. Citing an instance, AngioSculpt® scoring balloon catheter is an atherotomy Scoring Balloon Catheter is used in coronary & peripheral interventions.
Market Growth Dynamics
Large-scale occurrence of cardiac disorders and surge in heart intervention methods will boost the market trends. Furthermore, rise in the healthcare funding and favorable compensation policies will further accelerate the business growth over the forthcoming years. Additionally, launching of new balloon catheters and rise in the funding of research activities for manufacturing multi-functional balloon catheters will impel the market trends.
According to WHO, heart ailment is the major cause of death across the globe and results in nearly 17.9 million deaths annually. Reportedly, four out of five deaths occurring as a result of heart disorder are due to heart attack and heart strokes. For the record, one third of the deaths take place in persons below the age of 70. Individuals in high risk zone for heart ailment include those affected due to hypertension, lipids, and glucose. Moreover, these factors are likely to stimulate the growth of balloon catheter market over the years to come. Apparently, growing need for minimally invasive surgeries and introduction of new cardiac procedures will prompt the industry expansion in the years ahead.
North America To Attain Numero Uno position in The Global Market During 2020 -2026
The regional market expansion over the forecast timeline is owing to surge in patient consciousness, easy access to advanced healthcare amenities, and presence of robust medical infrastructure facility will embellish the regional market growth trends. Countries like the U.S. and Canada are expected to be the major regional revenue pockets over the years ahead.
Key players influencing the business include BIOTRONIK SE & Co. KG, Edwards Lifesciences Corporation, Vascular Solutions, Inc., Abbott Laboratories, Johnson & Johnson, Jotech GmbH, Boston Scientific Corporation, MicroPort Scientific Corporation, Medtronic plc, and Teleflex Incorporated.
The global balloon catheter market is segmented as follows:
By product type:
By raw material:
The key growth drivers that will leverage the market growth include large-scale occurrence of cardiac disorders and surge in heart intervention methods.
The CAGR of the industry is expected to be nearly over 5.1% during the forecast timeline.
North America will contribute remarkably towards the global market share over the estimated timeline.