Global Balloon Catheter Market: Overview
A balloon catheter is a delicate catheter device with an inflatable balloon at its tip which may be introduced into a duct or vessel and then blown up to clear the blockage. It is primarily used to treat heart-related diseases, specifically coronary heart disease, caused due to diabetes, high blood pressure and high cholesterol level in blood. Utilization of these catheters has been consistently increasing in the health care industry and these devices have become an essential part of medical diagnostics and treatment.
Global Balloon Catheter Market: Growth Factors
The significant drivers of the global balloon catheter market are the rising geriatric population, growing demand for minimally invasive surgery, and increasing government initiatives. Technological advancements, increasing incidences of peripheral vascular diseases and increasing R&D are also expected to drive the market within the forecast period. Also, the prevalence of patients suffering from end-stage renal disease and a majority of those patients undergoing therapy is likely to increase the use of balloon catheters for treatment. However, a high cost of coronary angioplasty and stenting treatment, reimbursement issues, choice of alternatives like bypass surgery, the risk of infection and artery collapse associated with balloon catheterization is likely to hinder the market within the forecast period.
Global Balloon Catheter Market: Segmentation
The global balloon catheter market is segmented on the basis of product type, raw material, disease indication, end-user, and region. Based on product type the market is segmented into cutting balloon catheter, scoring balloon catheter, normal balloon catheter, drug-eluting balloon catheter and stent graft balloon catheter. The drug eluting balloon catheter category is expected to have the fastest growth during the forecast period. Based on the raw material the market is segmented into polyurethane and nylon. The polyurethane segment is expected to dominate the balloon catheters market in the near future. Based on disease indication the market is segmented into coronary artery disease and peripheral vascular disease. Based on end user the market is segmented into ambulatory surgical centers, cardiac catheterization laboratories, and public hospitals & private hospitals.
Global Balloon Catheter Market: Regional Analysis
North America accounts for a total of one-third of the market share, the largest share of the global balloon catheters market, followed by Europe. This is mainly attributed to rapidly aging population, increase in incidence rate of diabetes and increase in a number of heart attack and coronary artery disease cases in this region. The balloon catheters market is expected to show high growth rate in Asia-Pacific region over the forecast period supported by an increase in the prevalence rate of lifestyle disease such as diabetes.
Global Balloon Catheter Market: Competitive Players
Major players in the global balloon catheters market are Abbott Laboratories, Edwards Life sciences Corporation, Biotronic SE & Co. KG, Boston Scientific Corporation, Medtronic plc, MicroPort Scientific Corporation, Johnson & Johnson, Jotech GmbH, Teleflex Incorporated, and Vascular Solutions, Inc among others.
Global Balloon Catheter Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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