A new report published today projects substantial growth in the global balloon catheter market, with a compound annual growth rate (CAGR) of 4.3% from 2023 to 2033. Valued at approximately USD 4.2 billion in 2023, the market is expected to soar to USD 6.4 billion by the end of the forecast period.
The driving force behind this growth is the continuous innovation and technological advancements in balloon catheter designs, which are crucial for complex medical procedures. Industry leaders are pioneering cutting-edge technologies to enhance the efficiency, safety, and comfort of medical interventions, revolutionizing the field of interventional cardiology and beyond.
Key factors fueling this market expansion include the rising prevalence of cardiovascular diseases, a growing geriatric population, and an increasing demand for minimally invasive procedures. These trends, combined with significant investments in research and development, are paving the way for the next generation of balloon catheters, promising better patient outcomes and more streamlined healthcare processes.
The report also emphasizes the importance of strategic collaborations and partnerships among key market players, which are vital for accelerating innovation and expanding market reach. These alliances are expected to drive further advancements and open new avenues for growth in the balloon catheter market.
With the global market poised for significant expansion, stakeholders remain optimistic about future opportunities, anticipating a dynamic environment for investment and development in this vital sector of the medical device industry.
Key Takeaways from the Balloon Catheter Market:
- From 2023 to 2033, the United Kingdom market is likely to accelerate at a CAGR of 4.8% and reach a value of USD 273.4 million in 2033.
- Germany market is also anticipated to expand at 4.7% CAGR and reach USD 244.3 million in 2033.
- The global balloon catheter market is expected to register 4.3% CAGR between 2023 and 2033.
- A value of USD 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 USD 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.
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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