|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The angioplasty balloons market was valued at about USD 2,550 million in 2020 and is expected to reach USD 2,975 million in 2026, registering a CAGR of nearly 3.5% during the forecast period.
According to a research article published in September 2020, cardiac surgery during the current COVID-19 pandemic carries a combined peril for both cardiac patients, who are now at a greater risk of experiencing complications due to COVID-19, and for the healthcare workers associated with these patients. Moreover, the American College of Surgeons and the American Society of Anesthesiologists recommended suspending elective cardiac surgery for a minimum of 14 days after a patient tests negative for COVID-19. Thus, given the several factors surrounding COVID-19, elective angioplasty surgeries are expected to be suspended, which is likely to affect the adoption of angioplasty balloons. The market can have slight or even very little growth during this period.
However, with the increasing burden of cardiovascular diseases and the preference toward minimally invasive surgery, balloon angioplasty has become the method of choice to treat patients suffering from coronary and peripheral artery diseases. Cardiac diseases around the world are increasing at an enormous rate, and this calls for precise treatment alternatives with high success rates. According to the World Health Organization, in 2017, the prevalence of cardiovascular diseases was found to be among 485.6 million people, while an estimated 17.9 million people die due to cardiovascular diseases worldwide each year. This number represents 35% of global deaths. Additionally, 85% of these cardiovascular disease-related deaths are due to heart attack and stroke.
Similarly, according to the Global Health and Wellness Report published in 2018, nearly 40% of the United States' adult population was diagnosed with a cardiovascular condition. Also, as per the Foundation de France, one in three people in France holds a significant risk of being affected by cardiovascular diseases. Approximately 120,000 heart attacks and over 130,000 strokes occur in France each year.
Additionally, factors such as the rising prevalence of lifestyle-related disorders and increasing geriatric populations are fueling the growth of the angioplasty balloons market. For instance, according to the World Aging Population Report, in 2019, the number of people aged 65 years and above was recorded to be around 702.9 million globally, and the number is expected to reach 1548.9 million by 2050. Thus, with an increase in the geriatric population, the prevalence of chronic diseases, especially cardiovascular disease, is also expected to increase, resulting in hospital admissions and surgeries. Also, there has been an increase in clinical development to advance the existing technology and explore new opportunities by key players. For instance, in November 2018, Koninklijke Philips N.V. initiated patient enrolment for its Stellarex ILLUMINATE below-the-knee (BTK) investigational device exemption (IDE) and commenced clinical trial in the United States. The study was aimed to evaluate the safety and effectiveness of the Stellarex 0.014 drug-coated angioplasty balloon to percutaneous transluminal angioplasty (PTA) in critical limb ischemia (CLI) patients. These players are increasing their focus on more contemporary angioplasty balloons made of different materials and new products. They are coming up with new and innovative product launches to propel the market growth. However, high costs and the post-operational complications associated with angioplasty are expected to hamper the market growth.
Scope of the Report
Angioplasty, also known as balloon angioplasty and percutaneous transluminal angioplasty (PTA), is a minimally invasive endovascular procedure used to restore blood flow through the artery by widening the narrowed or obstructed arteries. Angioplasty balloons are balloon-tipped catheters that are used to flatten the plaque against the wall of the artery during an angioplasty procedure. The angioplasty balloons market is segmented by product type (normal balloons, cutting/scoring balloons, and drug-eluting balloons), application (coronary angioplasty and peripheral angioplasty), end user (hospitals, ambulatory surgical centers, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.
|By Product Type|
|Drug Eluting Balloons|
|By End User|
|Ambulatory Surgical Centers|
|Other End Users|
Key Market Trends
Hospitals Segment is Expected to Dominate the Angioplasty Balloons Market
The hospital segment is expected to hold a major share of the overall angioplasty balloons market. The factors responsible for the dominance of this segment are advanced healthcare infrastructure, increasing availability of skilled labor, and affordability. For instance, in 2018, as per the report published by Advanced Medical Technology Association (AdvaMed), India, the government's move to cap the maximum prices of various cardiovascular surgical instruments has resulted in reduced angioplasty procedure costs in tier 1 and metro corporate chains and standalone private hospitals up to 18% in the country, which is one of the major hubs of cardiovascular disease. In addition, the substantial growth in the geriatric population suffering from lifestyle diseases, such as atherosclerosis and heart failure, is expected to increase the patient pool and enhance revenue generations for the hospitals.
Moreover, compared to conventional surgeries, the several advantages of minimally invasive surgeries, such as reduced surgical pain, injury, scarring, hospital stay, higher accuracy, and speedy recovery time, are encouraging an increasing number of patients to opt for minimally invasive balloon angioplasty surgeries. As per the data reported by the American College of Cardiology, approximately 1.2 million angioplasties are performed in a year in the United States. Moreover, the high accessibility and affordability of hospitals, as compared to the specialty clinics, are expected to attract a large patient population.
However, due to the current COVID-19 situation, limited movement of population in hospitals is being observed. With the exception of emergency, people are keen to avoid undergoing any kind of surgery or diagnostic procedures to limit the risk of the COVID-19 infection. In addition, hospitals have also transferred their personnel availability from cardiac departments to other departments in need, such as EDs or intensive care units (ICU). All these factors are expected to affect the market growth. Nevertheless, this this slow-down in growth is anticipated to be temporary, and in the long run, the market is expected to have significant growth.
The graph below suggests that the prevalence of cardiovascular disease is continuously surging in the developed regions, such as North America, owing to the change in lifestyle habits and the high burden of obesity among the population. This surge in disease prevalence is expected to boost the demand for the angioplasty balloons market.
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North America is the Largest Market for Angioplasty Balloons Market
North America accounted for the maximum revenue share in the angioplasty balloons market. The presence of key industry players, the rising healthcare expenditure, and a growing number of percutaneous coronary interventions are the primary drivers of the market in the region. According to the American Heart Association Research Report 2018, heart disease accounted for 1 in 7 deaths in the United States in that year. Among the cardiovascular diseases, coronary heart disease was the leading cause of death, accounting for 43.8% of deaths, followed by stroke (16.8%), heart failure (9.0%), high blood pressure (9.4%), diseases of the arteries (3.1 %), and other cardiovascular diseases (17.9%). Thus, there exists a higher demand for better treatment with advanced medical devices, which acts as a major factor driving the studied market.
In addition, increased investments and the inorganic growth strategies by major market players in the region are the factors estimated to augment the market during the forecast years. For instance, in 2018, Teleflex, a US-based company signed an agreement to acquire the assets of QT Vascular. Under the agreement, Teleflex paid USD 98.4 million and USD 26.2 million for the non-drug coated coronary products, USD 65.6 million for the drug-coated coronary product, and up to an additional USD 6.6 million upon the achievement of certain sales revenue milestones. All these developments are further expected to increase the robust product line of the market and are anticipated to offer lucrative growth opportunities to the market of this region.
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The angioplasty balloons market is highly fragmented with the presence of many prominent players. Key players of the market are focused on strategic mergers and collaborations, and acquisitions in order to enhance their market share. Major players, in order to have a competitive edge over the other players, are also focusing on R&D to improve product quality and minimize manufacturing costs, developing novel products to improve patient compliance and safety. For instance, in August 2018, B. Braun Melsungen AG showed the top-line results from its clinical trials pipeline for its drug-coated balloon ‘SeQuent Please’ for percutaneous transluminal coronary angioplasty.
In January 2021, OrbusNeich Medical Co. Ltd received the United States Food and Drug Administration's (FDA's) clearance for its JADE 0.014”, 0.018” and 0.035” OTW non-compliant peripheral balloon dilatation catheter series. The JADE Percutaneous Transluminal Angioplasty (PTA) OTW Balloon Dilatation Catheter is an over-the-wire balloon catheter indicated for percutaneous transluminal angioplasty, including obstructed native arteries and synthetic arteriovenous dialysis fistulae.
In November 2020, InfinityAngioplasty Balloon Co. announced its innovative angioplasty balloon platform called Infinity Angioplasty Balloon Catheter, and successfully completed a First-in-Human clinical trial. The device received FDA clearance for PTA treatment of peripheral arterial disease, in peripheral vasculature including iliac, femoral, popliteal, infra-popliteal arteries, and for the treatment of AV dialysis fistulae in June 2020.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Cardiovascular Diseases
4.2.2 Increasing Preference for Minimally Invasive Procedures and Technological Advancements
4.3 Market Restraints
4.3.1 High Costs Associated with the Procedure
4.3.2 Complications Associated with Angioplasty Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Normal Balloons
5.1.2 Cutting/Scoring Balloons
5.1.3 Drug Eluting Balloons
5.2 By Application
5.2.1 Coronary Angioplasty
5.2.2 Peripheral Angioplasty
5.3 By End User
5.3.2 Ambulatory Surgical Centers
5.3.3 Other End Users
5.4.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.4.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.4.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.3 Becton Dickinson
6.1.5 Boston Scientific Corporation
6.1.6 Braun Melsungen AG
6.1.7 Cook Medical
6.1.8 Cordis (Cardinal Health)
6.1.9 Endocor GmbH
6.1.10 INFINITY Angioplasty Balloon
6.1.11 Johnson & Johnson
6.1.12 Koninklijke Philips N.V.
6.1.13 Medtronic Plc
6.1.14 Merit Medical Systems, Inc.
6.1.15 Oscor Inc.
6.1.16 Terumo Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Angioplasty Balloons Market market is studied from 2018 - 2026.
What is the growth rate of Global Angioplasty Balloons Market?
The Global Angioplasty Balloons Market is growing at a CAGR of 3.5% over the next 5 years.
Which region has highest growth rate in Global Angioplasty Balloons Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Angioplasty Balloons Market?
North America holds highest share in 2020.
Who are the key players in Global Angioplasty Balloons Market?
BIOTRONIK, Medtronic, Boston Scientific Corporation, Cordis (Cardinal Health), Terumo Corporation are the major companies operating in Global Angioplasty Balloons Market.