Angioplasty Balloons Market Size

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.