The global dual balloon angioplasty catheter market demand is projected to exhibit steady growth with a CAGR of 3.2% and a valuation touching US$ 199.8 Million in 2022 surpassing US$ 281.8 Million in 2032. The increasing prevalence of cardiovascular disorders is expected to contribute to growth in the market. During the historical forecast from 2016 to 2021, a CAGR of 1.6% was registered for the dual balloon angioplasty catheter market.
A dual balloon angioplasty catheter is known as a medical device that is inserted into the artery in order to clear the blockage allowing the clogged blood to flow freely. Dual balloon angioplasty is conducted to prevent heart attacks and angina in patients suffering from coronary artery disease.
In comparison with bypass surgery, the dual balloon angioplasty catheter market is less invasive. The balloon angioplasty expands the narrowed blood vessel by inflating the balloon which expands the area in the artery. A dual balloon angioplasty catheter is a thin flexible tube made of plastic with a tiny balloon on the tip of it. This tip is used to inject fluids and measure blood pressure.
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Key Takeaways
- Dual balloon angioplasty catheter is gaining traction in the healthcare sector as it resolves the difficulties such as insertion and removal of the large catheter. Often stents are inserted by placing them right on the tip of the balloon in this method. X-ray is preferred in dual balloon angioplasty, to guide the catheter into the heart and arteries.
- In order to stop bleeding, firm pressure is applied to the catheter. When the cholesterol plaque builds up in the wall of the artery of the heart, dual balloon angioplasty is usually done at this stage. It allows more blood and oxygen to flow into the muscles of the heart.
- It is easy and pretty simple to place the dual balloon angioplasty catheter. Owing to the rise in the prevalence of cardiac disorders and more effective drugs that have a straight effect on the directed area by the soft and flexible catheter which drives the growth of the market.
- In the forthcoming years, it has been anticipated that the peripheral and coronary angioplasty market continues to propel attributing to a rise in cardiovascular disease, obesity, and diabetes boosting the growth of the dual balloon angioplasty catheter market.
Competitive Landscape
Prominent companies in the global dual balloon angioplasty catheter market continuously indulge in various collaborations with other dominant players. In addition to that, massive investments are being made in research and development activities that display more convenient solutions to industry verticals.
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More Insights into the Dual Balloon Angioplasty Catheter Market
North America is predicted to occupy a dominant share of the global dual balloon angioplasty catheter market by possessing over 31.8% of the total market. According to the FMI analysis, demand for balloon catheters will accelerate over the forecast years owing to the presence of leading manufacturers, increased patient awareness, availability of advanced health care facilities and infrastructure, and technological advancements.
Growth in the North American region is attributed to the rising awareness among patients about a variety of treatment options and general health awareness. Furthermore, the rising prevalence of related illnesses in the region is contributing to the growth of this region.
The European region is anticipated to be the second leading market accounting for about 21.9% of the market share in the global dual balloon angioplasty catheter market. An increase in the aging population, efficient health care infrastructure and an emphasis on the development of innovative technology as well as enhanced patient diagnosis are responsible for the surge in the market.
The region is expected to witness phenomenal growth due to the increased emphasis on research and development along with the latest surgical inventions are fueling growth in the market. Moreover, Higher developmental capabilities in medical devices and adoption of diverse healthcare technologies such as robotic-assisted surgical procedures, and rising expenditure on healthcare infrastructure development are expected to surge growth in the region.
The Asia Pacific is yet another region expected to show positive growth over the assessment years. Countries like China and India are expected to fuel market growth due to new product launches, acquisitions, distribution agreements, alliances, and geographical expansion by local players.
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Key Segments Profiled in the Dual Balloon Angioplasty Catheter Industry Survey
Dual Balloon Angioplasty Catheter Market by Indication:
- Peripheral Dual Balloon Angioplasty
- Coronal Dual Balloon Angioplasty
Dual Balloon Angioplasty Catheter Market by End–User:
- Dual Balloon Angioplasty Catheter for Hospitals
- Dual Balloon Angioplasty Catheter for Catheterization Labs
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