Market Research Report
Angioplasty Balloons Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||910300|
|Published||Content info||118 Pages
Delivery time: 2-3 business days
|Angioplasty Balloons Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: September 1, 2019||Content info: 118 Pages||
The rise in the geriatric population could result in an exponential increase in Coronary heart disease prevalence, which, in turn, is propelling the angioplasty balloons market. For instance, as per the report from the American Heart Association on heart disease and stroke, in 2017, over approximately 800,000 deaths occured due to cardiovascular disease. Additionally, factors such as the rising prevalence of lifestyle-related disorders and increasing preference for minimally invasive procedures are fueling the growth of the angioplasty balloons market. However, high costs associated with the procedure and stringent safety regulations could adversely affect the angioplasty balloons market.
As per the scope, Angioplasty balloons are balloon-tipped catheters that are used to flatten the plaque against the wall of the artery during an angioplasty procedure.
Hospitals Segment is expected to dominate the Angioplasty Balloons market
The hospital segment is expected to dominate the overall angioplasty balloons market. The factors attributing to the dominance of this segment are enhanced healthcare infrastructure, availability of skilled labor, and affordability. The rise in patient pool, owing to substantial growth in the geriatric population suffering from lifestyle diseases, such as atherosclerosis and heart failure, is expected to enhance revenue generations of the hospitals. Moreover, compared to conventional surgeries, the benefits of minimally invasive surgeries such as reduced surgical pain, injury, scarring, hospital stay, higher accuracy, and speedy recovery time are encouraging more patients to opt for MIS surgeries, which is expected to boost the market growth. Moreover, high accessibility and affordability of hospitals, as compared to the specialty clinics, are expected to attract a large patient population.
North America is the largest market for Angioplasty Balloons market
North America is expected to dominate the market share with well-established healthcare infrastructure, a better regulatory framework, and government support. According to the American Heart Association Research, Cardiovascular diseases remain the leading cause of death in the US, accounting for 840,678 deaths in the US in 2016, approximately 1 of every 3 deaths. In 2016, Coronary Heart Disease was the leading cause (43.2%) of deaths attributable to cardiovascular disease in the US, followed by stroke (16.9%), High Blood Pressure (9.8%), Heart Failure (9.3%), diseases of the arteries (3.0%), and other cardiovascular diseases (17.7%). In addition, two important factors, such as longer life spans and aging baby boomers, rising the geriatric population in the geographical region which may increase the patient pool for the hospitals and healthcare service providers. All of the above mention factors are expected to drive the growth of the angioplasty balloons market, during the forecast period.
Angioplasty Balloons market is a highly fragmented market with the presence of many prominent players. Players are focusing on the major collaborations, mergers, and acquisitions in order to enhance their market share. Market players are also focusing on R&D to improve product quality and minimize manufacturing costs, developing novel products to improve the patient compliance and safety. Some of the key developments in the market are, in August 2018, Bangalore-based S3V Vascular Technologies Private Limited, a medical devices manufacturing company launched Nextgen PTCA (Percutaneous Transluminal Coronary Angioplasty) Balloon Catheters into the domestic market.