The global balloon catheter market size is set to experience remarkable expansion over the next decade, following a projected Compound Annual Growth Rate (CAGR) of 4.3%. Reports indicate that the market revenue, currently at US$ 4.2 billion in 2023, is poised to soar significantly, reaching a staggering US$ 6.4 billion by 2033.
This prediction is based on comprehensive market analysis and factors in the burgeoning demand for advanced medical procedures and minimally invasive techniques. Balloon catheters, renowned for their versatility in various medical applications, continue to witness a surge in adoption owing to their effectiveness in treating diverse cardiovascular conditions and other ailments.
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Geographically, the market’s landscape is divided into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America has historically held a significant share of the market due to a well-established healthcare infrastructure and high healthcare expenditure. However, the Asia Pacific region is witnessing rapid growth due to the increasing healthcare awareness, rising disposable income, and expanding access to medical facilities.
Key Takeaways from the Balloon Catheter Market:
- From 2023 to 2033, the United Kingdom market is likely to accelerate at a CAGR of 8% and reach a value of US$ 273.4 million in 2033.
- Germany market is also anticipated to expand at 7% CAGR and reach US$ 244.3 million in 2033.
- The global balloon catheter market is expected to register 4.3% CAGR between 2023 and 2033.
- A value of US$ 6.4 billion is estimated for the global balloon catheter market in the year 2033.
- The global balloon catheter market is poised to reach a valuation of US$ 4.2 billion in 2023.
- Rising prevalence of peripheral artery disease (PAD) is slated to fuel the need for balloon catheters in Europe.
“As peripheral artery disease is on rise in Europe, balloon catheter adoption is expected to skyrocket in the coming years. Key players are focusing on developing catheters that improve treatment outcomes.”– Says an FMI Analyst.
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Competition Landscape in the Balloon Catheter Market:
To set themselves apart from their rivals in the industry and boost sales in the global balloon catheter market, manufacturing companies are concentrating on merger and acquisition strategies.
- Boston Scientific Inc.,
- Medtronic,
- Terumo Corporation,
- B. Braun Melsungen AG,
- MicroPort Scientific Corporation,
- Jotech GmbH,
- QX Medical LLC,
- Meril Life Pvt. Ltd.,
- Hexacath,
- Abbott Laboratories
Recent Developments:
- In October 2022, Biosense Webster, Inc., a Johnson & Johnson subsidy of medical technologies, revealed its European debut of a HELIOSTAR balloon catheter, the first radiofrequency balloon ablation catheter. It can be utilised for cardiac ablation when coupled with a suitable cross RF generator and catheter-based heart electrophysiological imaging of the atria.
- In July 2021, PrevailTM drug coated balloon (DCB) catheters were introduced in Europe under the CE (Conformité Européenne) standard by Medtronic plc, a leading company in medical technology. The Prevail DCB is used in percutaneous coronary intervention (PCI) treatments to treat blocked or restricted blood vessels in people with cardiovascular disease.
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Key Segments Profiled in the Balloon Catheter Market Survey
By Product Type:
- Normal
- Cutting
- Scoring
- Drug Eluting
- Others
By Raw Material:
- Polyurethane
- Nylon
- Others
By Indication:
- Coronary Artery Disease
- Peripheral Vascular Disease
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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