Angioplasty Balloons Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Angioplasty Balloons Market Analysis
The angioplasty balloons market was valued at about USD 2639.25 million in the current year and is expected to reach USD 3343.12 million by the end of the forecast period, registering a CAGR of nearly 3.5% over the forecast year.
The COVID-19 pandemic has had a significant impact on interventional cardiology procedures like percutaneous coronary intervention (PCI), which often involves the use of angioplasty balloons due to prioritisation of resources, the implementation of additional safety measures, delays in procedures, and changes in patient management. For instance, according to an article published in PLOS ONE, in September 2022, during the COVID-19 pandemic, there was a reduction in percutaneous coronary intervention (PCI) volumes and higher risk-adjusted mortality. COVID-19-positive patients undergoing PCI had a markedly higher prevalence of baseline clinical and presentation features indicative of higher severity of illness. Thus, the COVID-19 pandemic has had an adverse impact on the market's growth in its initial phase. However, as healthcare systems adapted to the new normal, there was a recovery in the angioplasty balloon market. The resumption of elective procedures and the gradual return to normalcy are expected to drive the demand for angioplasty balloons in the post-pandemic period.
The significant factors for the growth of the angioplasty balloons market include the increasing burden of cardiovascular diseases requiring angioplasty, such as atherosclerosis or coronary artery disease. For instance, according to the Centers for Disease Control and Prevention (CDC) update in March 2023, coronary heart disease is the most common type of heart disease; about 1 in 20, 5% of adults age 20 and older, have coronary artery disease. Furthermore, according to the British Heart Foundation's Report published in July 2022, 7.6 million people in the United Kingdom lived with heart and circulatory diseases in 2021, of which 4 million were men and 3.6 million were women. Therefore, the increasing burden of heart disease is anticipated to boost the usage of angioplasty balloons, driving market growth over the forecast period.
Additionally, increasing preference for minimally invasive procedures is expected to drive market growth as it involves using small incisions and angioplasty balloons to navigate and treat the affected blood vessels. For instance, an article by the National Library of Medicine published in January 2023 reported that an annual volume of more than three million minimally invasive surgery cases was calculated in the United States. Angioplasty, a minimally invasive procedure, offers several advantages, such as reduced trauma to the body, shorter hospital stays, faster recovery times, and fewer complications. Hence, with an increasing preference for minimally invasive procedures due to their advantage, the demand for angioplasty balloons is expected to increase, thereby driving market growth.
Moreover, various initiatives taken by key players, such as product launches, mergers, acquisitions, and partnerships to increase the product footprint, are expected to boost the market's growth during the forecast period. For instance, in June 2022, Royal Philips reported the results from the Tack Optimized Balloon Angioplasty (TOBA) II below-the-knee (BTK) clinical trial, demonstrating that the Philips endovascular system - Tack (4F) approved by the U.S. FDA, provides a sustained treatment effect and positive impact on quality of life for patients with critical limb ischemia (CLI), a severe stage of peripheral arterial disease (PAD), out to three years of clinical follow-up.
Hence, the angioplasty balloons market is anticipated to grow over the forecast period due to the increasing burden of cardiovascular diseases requiring angioplasty balloons, increasing preference for minimally invasive procedures, and ongoing research and development activities. However, high costs and complications associated with angioplasty procedures are some factors hindering the market's growth.
Angioplasty Balloons Market Trends
Drug-eluting Balloons Segment is Expected to Witness Significant Growth Over the Forecast Period
The drug-eluting balloon is a non-stent device that uses an inflated balloon to distribute antiproliferative medicines efficiently and uniformly to the endothelial vessel wall. This ensures the artery is transparent and comprehensive and maintains optimum blood flow. The drug-eluting balloon segmental growth is attributed to peripheral and coronary artery disease's growing prevalence. For instance, according to the American Heart Association 2021 report, peripheral artery disease (PAD) affects more than 200 million people worldwide and is associated with high mortality and morbidity.
Moreover, the increasing geriatric population, which is prone to cardiovascular diseases, are projected to bolster market growth. For instance, according to the research study published in December 2021, by Elsevier, for older people aged 45 and above, the overall self-reported prevalence of diagnosed cardiovascular diseases (CVDs) was 29.4%. The prevalence rate increased with age, from 22% in the 45-54 age group to 38% in the 70+ age group, showing that the senior population is at high risk of having CVDs. Such prevalence of various cardiovascular conditions is expected to drive the demand for drug-eluting balloons as they are used to deliver medication directly to the site of the blood vessel blockage, enhancing the effectiveness of the treatment and reducing the risk of restenosis, thereby helping in the recovery of affected patients.
Companies are introducing new, more sophisticated drug-eluting balloons due to the high demand, which are anticipated to significantly support the segment's growth. For instance, in October 2022, Cordis acquired MedAlliance to serve two million patients globally by 2027 with the SELUTION SLR (Sustained Limus Release) drug-eluting balloon. The agreement includes an initial investment of USD 35 million and USD 200 million payment upon closing in 2023, regulatory achievement milestones up to USD 125 million, and commercial milestones up to USD 775 million through 2029.
Thus, owing to the factors such as the increasing incidence of cardiovascular conditions and company initiatives, the drug-eluting balloons segment is expected to register healthy growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold significant market growth throughout the forecast period due to the increase in the incidence of multiple cardiovascular diseases such as atherosclerosis and peripheral arterial disease and the presence of robust healthcare infrastructure. For instance, according to the Journal of the American College of Cardiology published in February 2023, the incidence rate of atherosclerotic cardiovascular disease per 1,000 person-years was 2.60 among those with raised 10-year predicted risk, 1.87 in those with low 10-year but elevated 30-year predicted risk and 0.32 in those with low 10-year and 30-year predicted risk. Similarly, according to an article published by Clinical Cardiology, in September 2021, the five years prevalence of Atherosclerotic cardiovascular disease in Alberta, Canada, was 89.9 per 1000 persons, or 8.99%. Furthermore, according to the American Heart Association update, in June 2021, the prevalence of peripheral arterial disease in the United States is estimated to be 7%, impacting 8.5 million persons. Also, the above source in June 2022 stated that, in Mexico, 56.1% of adults have high levels of LDL-C or bad cholesterol, considered the leading risk factor for cardiovascular disease and cause of atherosclerotic cardiovascular disease. Thus, with the high burden of cardiovascular disease, the demand for angioplasty balloons is expected to increase, driving the market's growth.
Additionally, a few key market players in the region are developing novel products and technologies to compete with existing products, while others are acquiring and partnering with other companies trending in the market to increase the product footprint, thereby driving regional growth over the forecast period. For instance, in February 2023, Abbott acquired Cardiovascular Systems, Inc. (CSI). The acquisition of CSI added complementary technologies to Abbott's leading vascular device offerings, including atherectomy devices. Procedural use of atherectomy helps maximise the benefits of standard balloon angioplasty or stent treatments in restoring blood flow in complex arterial disease.
Thus, owing to the factors such as the incidence of multiple cardiovascular diseases and developments by key market players, the market studied is anticipated to witness steady growth in the North American region over the forecast period.
Angioplasty Balloons Industry Overview
The angioplasty balloons market is fragmented due to the presence of many prominent players. In terms of market share, a few of the major players are currently dominating the market. Some of the key companies in the market are Abbott Laboratories, Angiodynamic, Becton Dickinson, Biotronik, Boston Scientific Corporation, and Braun Melsungen AG, among others.
Angioplasty Balloons Market Leaders
Medtronic
Boston Scientific Corporation
Cordis (Cardinal Health)
Terumo Corporation
BIOTRONIK
*Disclaimer: Major Players sorted in no particular order
Angioplasty Balloons Market News
- In September 2022, Advanced NanoTherapies, Inc. reported the U.S. FDA granted the company a Breakthrough Device designation for its SirPlux Duo Drug-Coated Balloon (DCB) for coronary artery disease in vessels less than 3.0mm.
- In October 2022, MedAlliance's novel sirolimus-eluting balloon, SELUTION SLR received FDA Investigational Device Exemption (IDE) approval to initiate its coronary pivotal clinical trial.
Angioplasty Balloons Market Report - Table of Contents
1. INTRODUCTION
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 Requiring Angioplasty
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 (Market Size by Value - USD million)
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
5.3.1 Hospitals
5.3.2 Ambulatory Surgical Centers
5.3.3 Other End Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 AngioDynamics
6.1.3 Becton, Dickinson and Company
6.1.4 BIOTRONIK
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 Terumo Corporation
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 Integer Holdings Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Angioplasty Balloons Industry Segmentation
As per the scope of the report, an angioplasty balloon, also referred to as a balloon catheter or a dilatation catheter, is a medical device used during an angioplasty operation. An angioplasty is a minimally invasive technique used to open up or enlarge blood channels that are clogged or restricted, often in the peripheral arteries or the coronary arteries of the heart. 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 Market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers values (in USD million) for the above segments.
| By Product Type | |
| Normal Balloons | |
| Cutting/Scoring Balloons | |
| Drug Eluting Balloons |
| By Application | |
| Coronary Angioplasty | |
| Peripheral Angioplasty |
| By End User | |
| Hospitals | |
| Ambulatory Surgical Centers | |
| Other End Users |
| Geography | ||||||||
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Angioplasty Balloons Market Research FAQs
What is the current Global Angioplasty Balloons Market size?
The Global Angioplasty Balloons Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Global Angioplasty Balloons Market?
Medtronic, Boston Scientific Corporation, Cordis (Cardinal Health), Terumo Corporation and BIOTRONIK are the major companies operating in the Global Angioplasty Balloons Market.
Which is the fastest growing region in Global Angioplasty Balloons Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Angioplasty Balloons Market?
In 2024, the North America accounts for the largest market share in Global Angioplasty Balloons Market.
What years does this Global Angioplasty Balloons Market cover?
The report covers the Global Angioplasty Balloons Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Angioplasty Balloons Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Angioplasty Balloons Industry Report
Statistics for the 2024 Angioplasty Balloons market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Angioplasty Balloons analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
