Market Analysis
The angioplasty balloons market is anticipated to touch USD 3457.35 million at a 5.01% CAGR between 2022- 2027, according to the new report by Market Research Future (MRFR). Angioplasty is a minimally invasive endovascular technique used to widen obstructed or narrowed veins or arteries, generally to treat arterial atherosclerosis. Scoring balloons, drug eluting balloons, cutting balloons, and normal balloons are the different types of angioplasty balloons that have wide applications in peripheral artery disease and coronary artery disease. They are widely used in ambulatory surgical centers, cardiac catheterization laboratories, hospitals, and others.
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Various factors are adding to the global angioplasty balloons market growth. According to the new MRFR report, such factors include increasing number of clinical trials by top market players, rising number of product launches, growing initiatives by private & public organizations to create awareness about angioplasty treatment options, rising prevalence of cardiac diseases, demand for minimally invasive procedures, and technological advances in balloons.
On the contrary, increasing focus to treat COVID-19 patients has put cardiac surgeries on halt along with disruption in the supply chain, thereby limiting the global angioplasty balloons market growth.
Market Segmentation
The MRFR report gives an inclusive segmental analysis of the global angioplasty balloons market report based on end user, application, and product type.
By product type, the global angioplasty balloons market is segmented into scoring balloons, drug eluting balloons, cutting balloons, and normal balloons. Of these, normal balloons will lead the market over the forecast period for its high preference rate and widespread use.
By application, the global angioplasty balloons market is segmented into peripheral artery disease and coronary artery disease. Of these, coronary artery disease will dominate the market over the forecast period for the increase in cardiac cases worldwide.
By end user, the global angioplasty balloons market is segmented into ambulatory surgical centers, cardiac catheterization laboratories, hospitals, and others. Of these, hospitals will have lions share in the market over the forecast period.
Regional Analysis
Based on the region, the global angioplasty balloons market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), & the Middle East and Africa (MEA). Of these, the Americas will dominate the market over the forecast period. The presence of eminent players, coupled with tie-ups by several companies to expand geographical footprints, is adding to the global angioplasty balloons market growth in the region.
The global angioplasty balloons market in Europe is predicted to hold the second-largest share over the forecast period. The presence of leading industry players and different strategies undertaken by these players to strengthen their presence, such as mergers and acquisitions and joint ventures coupled with increased hospitalizations for cerebral angioplasty and carotid artery angioplasty is adding to the global angioplasty balloons market growth in the region.
The global angioplasty balloons market in the APAC region is predicted to grow at a fast pace over the forecast period. Manufacturers are making vigorous marketing activities to increase potential targets which in turn is adding to the global angioplasty balloons market growth in the region.
The global angioplasty balloons market in the MEA will have the smallest share over the forecast period but is predicted to grow in the future for the inclination of top companies to untapped regions.
Key Players
Key players profiled in the global angioplasty balloons market report include Endocor (Germany), Cordis (Cardinal Health) (US), Terumo Medical Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), Cook (US), Boston Scientific Corporation (US), C.R. Bard (BD) (US), Biotronik SE & Co. KG (Germany), Abbott (US), and B. Braun Melsungen AG (Germany). Industry players have incorporated strategies such as mergers, partnerships, joint ventures, new product launches, and acquisitions to create a niche in the market.
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