PTA Balloon Catheter Market Size
|2019 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
PTA Balloon Catheter Market Analysis
The PTA Balloon Catheter market is expected to register a CAGR of about 7.5% during the forecast period (2022-2027).
The onset of the COVID-19 pandemic has led to a reduction in the number of patient visits that reduced the number of patients opting for surgical procedures, thereby impacting the market growth. As per the study published by the National Library of Medicine in 2021, Compared to periods before initiation of pandemic (BC), the after initiation of pandemic (AC) period was characterized by a marked reduction in the number of activations for ST-elevation myocardial infarction (STEMI), number of activations leading to angiography and number of activations leading to primary percutaneous coronary intervention (PPCI). A decline in STEMI activations drove the reductions in angiography and PPCI volumes. Relative to periods before initiation of the pandemic, the door to balloon (D2B) times after initiation of the pandemic period increased on average by 20%. As a result, the impact of COVID-19 on the market was adverse during the initial phase of the pandemic.
The rising prevalence of cardiovascular disorders and peripheral artery disease, the growing geriatric population, and an increasing number of minimally invasive surgeries are some of the key factors boosting the market growth. Globally there has been an increase in the incidence of cardiac disease, which is negatively impacting people's physical and mental well-being. Thus, the demand for effective and advanced diagnostics and treatment procedures were PTA balloon catheters. Therefore, the market is expected to increase in the forecast period. According to the data published by the European Heart network in 2021 reported that in the European Union more than 60 million people live with Cardiovascular disease and close to 13 million new cases of cardiovascular diseases are diagnosed every year. Hence, due to the high frequency of cardiovascular diseases, interventional heart procedures are increasing around the world. As a result, the PTA balloon catheter market is expected to increase in the coming year.
However, catheters are often associated with vein thrombosis, which may lead to pulmonary embolism and, in some cases, may prove to be fatal. Thrombosis can result in obstruction of a catheter, which includes a ﬁbrin sheath around the intraluminal, venous, and mural thrombosis at the catheter tip. Patients who undergo cardiac catheterization are at a higher risk of catheter-associated bloodstream infections due to repeated use of catheters. Therefore, risks and complications associated with catheters may impede the growth of the market for PTA Balloon Catheters in the coming years. However, they can be overcome with technological advancements.
PTA Balloon Catheter Market Trends
This section covers the major market trends shaping the PTA Balloon Catheter Market according to our research experts:
The Coronary Artery Disease Segment is Expected to Hold a Major Market Share in the PTA Balloon Catheter Market
Cardiovascular diseases have become the leading cause of death worldwide in the past three decades. A sedentary lifestyle is one of the major causes leading to many chronic disorders such as diabetes and cardiovascular ailments. Harmful habits such as lack of physical activity, consumption of alcohol and unhealthy food, and smoking have resulted in a growing prevalence of obesity, which in turn leads to various cardiovascular diseases. Surgical intervention for the treatment of such disorders has increased the demand for percutaneous transluminal angioplasty (PTA) balloon catheters. According to a study published by Pub Med Central in 2021, Coronary artery disease is the foremost single cause of mortality and loss of Disability Adjusted Life Years (DALYs) globally. A large number of this burden falls on low and middle-income countries accounting for nearly129 a million DALYs annually, with the growing incidence of coronary artery disease among the people expected to increase demand for catheters, which in turn is expected to drive the growth of the PTA balloon catheter market over the forecast period. For instance, a recent innovation that may offer a paradigm shift in how calcified vessels are treated is the Shockwave Intravascular Lithotripsy system approved by the Food and Drug Administration(FDA) in February 2021 for coronary artery use in February 2021. It combines a low-pressure balloon mounted on a catheter that delivers bursts of sonic energy to crack the calcium.
In addition to this, Boston Scientific Corporation announced it had initiated the AGENT IDE trial for the Agent Drug-Coated Balloon (DCB), the first clinical trial in the United States to evaluate the safety and effectiveness of a DCB in patients with coronary in-stent restenosis (ISR).
Thus, due to the above-mentioned developments, the market is expected to witness significant growth over the forecast period.
North America is Expected to Dominate the Market Over the Forecast Period
The United States is the most affected country across the world, as the increasing prevalence of urological and cardiovascular diseases is expected to increase demand for PTA balloon catheters, which in turn is expected to fuel the PTA balloon catheter market growth over the forecast period.
This can be attributed to factors such as the presence of a large number of PTA balloon catheter manufacturers, suppliers, and distributors, the high prevalence of cardiovascular disorders, the presence of sophisticated healthcare infrastructure, and an increase in patient awareness about emerging minimally invasive surgeries in the region. In addition, the growing preference for minimally invasive surgeries, such as minimally invasive coronary bypass and Minimally Invasive Cardiothoracic Surgery (MICS), is contributing to market growth in North America. The prevalence of cardiac diseases is expected to boost the growth of the market. Also, according to the Centres for Disease Control and Prevention (CDC), in September 2020, heart disease was the leading cardiovascular disease in the United States. Every year about 805,000 Americans has a heart attack. As the number of heart diseases is increasing, there is a growing demand for the proper treatment procedures and devices required to fulfill the unmet needs. Hence are expected to show growth over the forecast period.
Also, the innovative product launches in this region are contributing to the growth of the market. For instance, In June 2021, Neurescue received the 510k clearance from the United States Food and Drug Administration for their NEURESCUE device, 'the world's first intelligent balloon catheter,' devised for the temporary occlusion of large vessels such as the aorta.
Moreover, high expenditure on healthcare, especially in the United States and Canada, along with increased awareness about the disease, is fueling the growth of the overall regional market to a large extent.
PTA Balloon Catheter Industry Overview
The PTA Balloon Catheter market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Medtronic plc, Terumo Corporation, Cardinal Health, Boston Scientific Corporation, Natec Medical, AndraTec, Cook Medical, Biotronik, Abbot, Koninklijke Philips, B. Braun Melsungen AG, Becton, Cardionovum GmbH, and others.
PTA Balloon Catheter Market Leaders
Boston Scientific Corporation
*Disclaimer: Major Players sorted in no particular order
PTA Balloon Catheter Market News
- In July 2022 BrosMed Medical received Food and Drug Administration 510(k) clearance for its Tiche 0.035 PTA Ballon Dilation Catheter.
- In March 2022 Medtronic launched the NuVent Eustachian tube dilation balloon, which has been cleared by the United States Food and Drug Administration for the treatment of chronic obstructive Eustachian tube dysfunction that occurs.
PTA Balloon Catheter Market Report - Table of Contents
1.1 Study Assumptions & 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 Prevalence of Urological and Cardiovascular Diseases
4.2.2 Demand for Minimally-Invasive Surgeries
4.2.3 Growing Aging Population and Lack of Physical Activities and Unhealthy Diet
4.3 Market Restraints
4.3.1 High Cost of Angioplasty
4.3.2 Risk and Complication Associated with Catheterization 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 - in USD Million)
5.1 By Material Type
5.2 By Application
5.2.1 Coronary Artery Disease
5.2.2 Peripheral Vascular Disease
5.3 By End User
5.3.1 Hospitals or Clinics
5.3.2 Ambulatory Surgery Centers
5.4.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
5.4.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Medtronic plc
6.1.2 Terumo Corporation
6.1.3 Cardinal Health
6.1.4 Boston Scientific Corporation
6.1.5 Natec Medical
6.1.7 Cook Medical
6.1.10 Koninklijke Philips
6.1.11 B. Braun Melsungen AG
6.1.13 Cardionovum GmbH
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
PTA Balloon Catheter Market Research FAQs
What is the current Global PTA Balloon Catheter Market size?
The Global PTA Balloon Catheter Market is projected to register a CAGR of 7.5% during the forecast period (2024-2029)
Who are the key players in Global PTA Balloon Catheter Market?
Medtronic plc , Terumo Corporation , Boston Scientific Corporation, Natec Medical and Cardinal Health are the major companies operating in the Global PTA Balloon Catheter Market.
Which is the fastest growing region in Global PTA Balloon Catheter 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 PTA Balloon Catheter Market?
In 2024, the North America accounts for the largest market share in Global PTA Balloon Catheter Market.
What years does this Global PTA Balloon Catheter Market cover?
The report covers the Global PTA Balloon Catheter Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global PTA Balloon Catheter Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global PTA Balloon Catheter Industry Report
Statistics for the 2024 Global PTA Balloon Catheter - Growth, Trends, Covid-19 Impact, And Forecasts (2029 - 2029) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global PTA Balloon Catheter - Growth, Trends, Covid-19 Impact, And Forecasts (2029 - 2029) analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.