During surgical treatments, clogged blood arteries are unblock and made wider using angioplasty balloons, which are medical equipment. Drug-eluting, regular, scoring, and cutting balloons are common angioplasty balloons. They are often made of silicone urethane, nylon, and polyurethane with nitinol constraining structures that form pillows and grooves on the balloon’s surface to provide predictable, uniform, and painless dilatation. After surgery, the blood vessels are open by inflating the balloon to flatten the plaque against its walls, which enables normal blood flow to return.
The market value of angioplasty balloons in 2021 was USD 2.60 billion and will be worth USD 3.73 billion by 2030 at a 4.10% CAGR during 2021-2030.
The market is expect to experience significant expansion due to favorable local government rules and regulations, rising international approval rates, expanding commercialization of various angioplasty balloons, and rising coronary and peripheral interventions.
Market Dynamics
Drivers
Less pain, a speedier recovery, smaller incisions, a shorter hospital stay, and consequently lower medical expenditures are just a few benefits of minimally invasive surgery. The need for minimally invasive treatments would increase due to the growing elderly population and the prevalence of CVD, further fueling the market’s expansion. Ageing Asia’s figures show that in 2050, there will be a predicted increase of 29,841,000 people in Vietnam who are 60 years of age or older.
Similarly, the market is expanding due to the rising number of ailments linked to a sedentary lifestyle and the aging population. AgeingAsia.org estimates that there were 5,443,000 seniors in Myanmar in 2019, which will reach 62,253,000 in 2050. As a result, the market for interventional cardiology is expect to develop due to the rising aging populations in emerging nations. Additionally, the market growth has been significantly help by recent developments by domestic and regional market competitors, product pipeline analyses, and initiatives for novel treatment choices.
Restraints
Lack of expertise will impede market progress in underdeveloped nations. The shortage of skilled medical workers, the high prices of surgical procedures, and the unfavorable reimbursement practices in developing and rising countries will all provide problems to the sector.
Additionally, the industry’s expansion is hamper by a rise in product recalls and clinical hazards or outcomes of surgical procedures.
Opportunities
Factors that will create profitable market growth opportunities include steadily expanding technological development and the invention of new instruments, soaring public awareness of the benefits of minimally invasive surgery, the introduction of novel products, the rising prevalence of coronary and peripheral artery infections in underdeveloped economies, and untapped potential in the developing business sectors.
Market Segmentation
Product Insights
The type section consists of normal, scoring, cutting, and DEBs. The DEBs (Drug-Eluting Balloons) sector will be the fastest growing market segment. Cheap DEBs, a number of their advantages over other varieties. And the introduction of novel products all contributed to the segment’s growth. Additionally, the cutting and scoring balloon segment will have considerable expansion throughout. The projection period due to large investments made by key players in R&D. Additionally; the availability of specialty balloons will drive the market during the projection period.
Application Insights
By application, the market is segment into Peripheral and coronary. Over the forecast period, the periphery segment will display the maximum share. Growth in the number of permits for novel items during the projection period. Is the main element anticipate to drive the segment’s growth. Additionally, growing awareness of peripheral illnesses and the availability of top-notch solutions will accelerate the segment’s growth.
End Use Insights
In 2020, the ASCs market had the largest share at 36.77%. It is due to the significant demand for treatments at ambulatory surgery facilities. Fewer hospital stays and adequate high-level help are responsible for increased need. Additionally, ASC treatments are less expensive, which helps lower therapy costs. Additionally, it accounts for the largest portion of the segment.
Regional Insights
North America held the largest portion. The region’s main drivers are the presence of key players. A change in FDA policy in the United States, and a growth in the incidence of percutaneous coronary interventions. According to the American College of Cardiology, around 1.2 million angioplasties are perform annually in the United States. The Asia Pacific region will probably be the most alluring and fastest-growing regional market due. To increased healthcare spending and excellent government assistance.
Key Players
- Boston Scientific Corporation
- Medtronic PLC
- Spectranetics Corp.
- Becton, Dickinson, and Company
- Abbott Laboratories
- Cook Medical, Inc.
- Cardinal Health
- ENDOCOR GmbH
- Johnson & Johnson
- SINOMED
- Biotronik
The market value of angioplasty balloons. In 2021 was USD 2.60 billion and will be worth USD 3.73 billion by 2030 at a 4.10% CAGR during 2021-2030. The market dynamics are positively influenced by the rising prevalence of cardiovascular difficulties. An expanding center for research and development experts about clinical equipment, and the adoption of cutting-edge IT medical care technologies.
