Global Angioplasty Balloons Market - 2023-2030

Market Overview

The Global Angioplasty Balloons Market reached US$ 2.2 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 2.9 billion by 2030. The global angioplasty balloons market market is expected to exhibit a CAGR of 3.5% during the forecast period (2023-2030).

Angioplasty balloons are primarily used in the treatment of coronary artery disease (CAD), which occurs due to the buildup of plaque within the arteries, leading to their narrowing or blockage. Angioplasty with balloons is a minimally invasive procedure that can be performed through a small incision in the skin, often in the groin or wrist area.

Factors such as the increased occurrence of lifestyle-related disorders and the increasing demand for minimally invasive procedures are anticipated to propel the market. Moreover, the Rapid adoption of advanced technologies, particularly in the developed world, in the angioplasty segment, including such drug-eluting and cutting balloons, is estimated to drive market growth throughout the forecast period.

Market Dynamics

The Increased Focus on Companies Strategies and R&D will Drive the Market Growth

The increased focus on companies strategies and R&D will drive the market growth. For instance, on June 17, 2021, Sectoral Asset Management has made a $9 million investment in Cagent Vascular Inc., a producer of next generation angioplasty balloons using unique serration technology. Marc-Andre Marcotte has joined the board of directors in addition to the investment. The funds will be used to expedite the commercialization and scaling of the Serranator below-the-knee (BTK) product.

Additionally, on April 22, 2022, Accumed Radial Systems announce a strategic agreement with POBA Medical, Inc. to create prototypes of our innovative, proprietary, and game-changing Accumed Radial Intra Vascular Extension (ARIVE) technology. POBA will collaborate with Accumed Radial teams to build ARIVE prototypes for multiple applications, while providing design, manufacturing, and scale-up expertise. POBA will invest in Accumed Radial at the same time. The aforementioned factors are projected to fuel market expansion over the forecast period.

Increasing Incidence of Coronary and Periphery Artery Diseases is Likely to Boost the Market Growth

Peripheral and coronary artery disease are frequent symptoms of atherosclerosis and can lead to stroke, myocardial infarction, and/or death from cardiovascular disease. The rising prevalence of these disorders is expected to drive market expansion in the following years. According to the CDC, coronary heart disease is the most frequent type of heart disease, killing around 375,000 individuals by 2021. CAD affects about one in every twenty persons aged 20 and over.

In 2021, almost 2 out of every 10 deaths from CAD will occur in persons under the age of 65. As a result, coronary heart disease is on the rise, contributing to market growth.

High Costs And the Post-Operational Complications Associated with Angioplasty are Likely to Hamper the Market Growth

High costs and post-operative difficulties associated with angioplasty are expected to stifle market expansion. According to the National Library of Medicine, the average total charge per procedure, including outpatient charges, was $21,893, and complications such as restenosis, heart attack, ventricular fibrillation, myocardial infarction, misplacement of a stent, aneurysms, kidney failure, and seizures occurred within 6 to 10 hours of angioplasty. These elements are likely to hinder market growth.

COVID-19 Impact Analysis

According to a study released in September 2020, cardiac surgery during the present COVID-19 pandemic poses a combined danger for both cardiac patients, who are now at a higher risk of complications due to COVID-19, and the healthcare staff who care for these patients. Furthermore, the American College of Surgeons and the American Society of Anesthesiologists recommended postponing elective heart surgery for at least 14 days following a COVID-19 test result.

As a result of the various considerations surrounding COVID-19, elective angioplasty surgeries are projected to be suspended, affecting the use of angioplasty balloons. During this period, the market may experience little, if any are present, growth.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine is estimated to have a minimal impact on the global angioplasty balloons market owing to the low prevalence and absence of key market players in this region. However, the impact of the import and export of raw materials, test products, and devices is anticipated to have little influence over the global angioplasty balloons market in the forecast period.

Artificial Intelligence Impact Analysis

Artificial intelligence is anticipated to impact the global angioplasty balloons market positively . Due to AI algorithms can analyze medical images, such as angiograms or computed tomography angiography (CTA) scans, to assist in the identification and localization of lesions or blockages within the blood vessels.

This analysis helps the interventional cardiologist in planning the angioplasty procedure by providing insights into the size, location, and severity of the blockage. It's important to note that while AI shows great potential in assisting with angioplasty balloon procedures, it should always be used as a tool to support healthcare professionals rather than a replacement for their expertise and judgment.

Segment Analysis

The global angioplasty balloons market is segmented based on product type, application, end user, and region.

The Hospital Segment is Estimated to Hold around 34.5% of the Angioplasty Balloons Market Share During the Forecast Period

The hospital segment holds about 34.5% of the total angioplasty balloons market in the forecast period. The significant increase in the older population suffering from lifestyle disorders including atherosclerosis and heart failure is predicted to increase the patient pool and boost hospital income production. Furthermore, as compared to traditional operations, the numerous benefits of minimally invasive surgeries, such as reduced surgical discomfort, injury, scarring, hospital stay, higher accuracy, and faster recovery time, motivate more patients to choose minimally invasive balloon angioplasty surgeries.

For instance, according to the American College of Cardiology, roughly 2.1 million angioplasties are performed in the United States per year in 2020. Furthermore, hospitals are likely to attract a big patient base due to their greater accessibility and affordability when compared to speciality clinics. All of these factors are projected to have an impact on segment growth.

Geographical Analysis

North America is Estimated to Hold the Largest Share of the Global Angioplasty Balloons Market During the Forecast Period

The North America region holds the largest share of the global angioplasty balloons market accounting for approximately 40.1% in the forecast period. North America accounted for the maximum revenue share in the angioplasty balloons market. The presence of key industry players, the rising healthcare expenditure, and the increasing product approvals by regulatory bodies in the United States are expected to drive the market's growth.

For instance, on January 2, 2023, the Stellarex 0.035 OTW Drug-coated Angioplasty Balloon from Philips Image Guided Therapy Corp. has been approved by the US Food and Drug Administration (FDA). Stellarex 0.035 OTW Drug-coated angioplasty balloon (Stellarex 035 DCB) reopens blocked or restricted arteries in the thigh and knee caused by peripheral arterial disease (PAD). These advancements are projected to strengthen the region's market's robust product portfolio.

Competitive Landscape

The major global players in the market include: Boston Scientific Corporation, BIOTRONIK, Medtronic Plc, Cordis (Cardinal Health), Terumo Corporation, Abbott Laboratories, AngioDynamics, BD, INFINITY Angioplasty Balloon, and Koninklijke Philips N.V, among others.

Why Purchase the Report?

• To visualize the global angioplasty balloons market segmentation based on product type, application, end user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of angioplasty balloons market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global angioplasty balloons market report would provide approximately 53 tables, 54 figures, and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies