Angioplasty Balloons Market

Angioplasty Balloons Market Outlook (2023 to 2033)

As per the latest detailed industry report by Fact.MR, worldwide angioplasty balloon demand has reached a market valuation of US$ 3 billion in 2023 and is projected to increase to US$ 4.2 billion by the end of 2033. The global angioplasty balloons market has been forecasted to expand at a CAGR of 3.4% over the next ten years (2023 to 2033).

Medical devices that are placed into the body's blood vessels include angioplasty balloons, which are used to unblock veins and arteries. They function by expanding the artery or vein with a balloon, which then permits blood to flow more freely. The blood vessels are opened after surgery by inflating the balloon to flatten the plaque against its walls, which enables normal blood flow to return.

Growing elderly population as well as people with obesity and high cholesterol levels are boosting market expansion. Other significant growth-promoting elements include technological advancements, such as the emergence of novel variations that can be implanted without using general anesthesia and the development of imaging technology.

Balloon angioplasty has replaced open surgery as the preferred way of treating patients with coronary and peripheral artery illnesses as a result of the rising prevalence of cardiovascular diseases and the preference for minimally invasive procedures. The increasing need for precise cardiovascular disease treatment options is driving market growth.

• According to data released by the European Heart Network in 2021, about 13 million new cases of cardiovascular disease are diagnosed each year in the European Union, where more than 60 million individuals live with the condition.
• The hospital sector is anticipated to account for the majority of the market share over the coming years. Better patient care is made possible by the use of angioplasty balloons in hospitals since they allow for quicker access to critical areas within minutes without requiring open heart surgeries or other significant invasive procedures.

Rapid development of healthcare facilities and a significant increase in the senior population suffering from lifestyle disorders such as atherosclerosis and heart failure will broaden the patient base and improve hospital revenue production. Moreover, hospitals are anticipated to draw a large patient base due to their high accessibility and affordability when compared to specialty clinics.

Favorable government regulations, the approval and commercialization of many angioplasty balloons, and rising coronary and peripheral procedures are all credited with driving market expansion. Because angioplasties need little to no incision, patients and doctors prefer them over costly stent placements.

Report Attributes	Details
Angioplasty Balloons Market Size (2023)	US$ 3 Billion
Projected Market Value (2033)	US$ 4.2 Billion
Global Market Growth Rate (2023 to 2033)	3.4% CAGR
Market Share of North America (2023)	40%
Market Share of Drug-coated Angioplasty Balloons (2023)	30%
Key Companies Profiled	Medtronic plc; Cook Medical; Becton, Dickinson and Company; Biotronik; Boston Scientific Corporation; AngioDynamics; B. Braun; Cordis; Abbott Laboratories; Endocor GmbH; Infinity Angioblast Balloon; Johnson & Johnson; Koninklijke Philips N.V.; Merit Medical Systems, Inc.; Oscor Inc.; Terumo Corporation

What are the Key Determinants Fuelling the Market for Angioplasty Balloons?

“Continuous Innovations in Angioplasty Balloons”

Industry expansion is anticipated to be fueled by advancements in product design and imaging technologies. The use patterns of diagnostic procedures have substantially improved with the development of imaging and diagnostic technologies such as OCT (optical coherence tomography) and IVUS (intravascular ultrasound).

Technological advancements in AI-based technologies are intended to improve clinical decision-making, improve efficiency in the catheterization lab, and standardize catheter-based operations using cutting-edge robots. Medical robots are widely used in minimally invasive surgeries.

Rapid innovations in angioplasty balloons have produced more effective and efficient tools to lower patient risks. Drug-eluting balloons and scoring balloons, which increase the procedure's success rate and lower the risk of restenosis (re-narrowing of the blood vessel), are some of these developments.

Robot-assisted percutaneous coronary intervention (PCI) angioplasty is one example of a technological advancement that can help reduce operator radiation exposure and musculoskeletal issues. Because angioplasty balloons have a greater success rate than conventional angioplasty procedures, the market is anticipated to develop.

“Growing Public Awareness of Minimally Invasive Surgical Techniques”

An increase in the prevalence of cardiovascular diseases is one of the main factors fueling market expansion. Patients and healthcare providers are increasingly opting for minimally invasive procedures due to their numerous benefits, such as shorter recovery time and reduced hospital stays.

Ample opportunities for industry growth are also anticipated to be provided by growing public awareness of minimally invasive surgical techniques, the success rate of balloon angioplasty, the introduction of novel products, and the rising incidence of coronary and peripheral artery diseases in developing countries.

The market for angioplasty balloons is expanding as a result of factors, including the growing geriatric population and the rising prevalence of lifestyle-related illnesses. A rise in chronic diseases, particularly cardiovascular diseases, is therefore anticipated to rise along with the aging population, leading to an increase in hospital admissions and operations.

What are the Restraints This Industry Faces?

“Lack of Qualified Medical Personnel and Clinical Risks or Concerns Related to Procedures”

A decline in the average selling price of angioplasty balloons has been observed in recent years, which is likely to act as a restraint to the growth of the global market. While the prevalence of the disease and demand for treatment is set to rise, this decline in average price is predicted to harm the overall revenue of the landscape.

Growth of the market will be hampered by the lack of awareness in developing economies. Market demand is restrained by a lack of qualified medical personnel, and high surgical procedure costs.

Alternative treatment options, such as bypass surgery and coronary stents, can pose a challenge to the growth of the market. Market expansion is hampered by a rise in product recalls and clinical risks or concerns related to procedures.

How Can Start-ups Carve a Space for Themselves in This Industry?

“New Manufacturers Offering Advanced Medicine Delivery Methods to Treat Cardiac Issues”

Heart disorders, including coronary artery disease (CAD), arrhythmia, and heart failure are widespread around the world and affect the majority of people. The healthcare sector is now able to streamline surgical operations because of technological improvements, particularly in robots, imaging, and surgical instruments. Start-ups are creating advanced medicine delivery methods to treat cardiac issues.

• A sirolimus-eluting balloon (SEB), Virtue, is a patented medical device created by a start-up based in the United States, Orchestra BioMed to treat artery-related disorders. Through the use of a unique microporous balloon that serves as a medicine delivery mechanism, Virtue aids in the elimination of plaque in the arteries.

Which Region Leads the Global Angioplasty Balloons Market?

“Presence of Well-established Healthcare Facilities in North America”

• The regional market occupying 40% share of the revenue of the global angioplasty balloons market is North America.

Increasing awareness of treatment options and rising prevalence of cardiovascular illnesses are assisting market growth. The robust expansion of the market can be credited to the presence of established players and the presence of well-established healthcare facilities. An increase in investments in research and development initiatives is boosting market value.

Country-wise Insights

Why is the United States a Prominent Market for Angioplasty Balloon Suppliers?

“Rise in Product Approvals by Regulatory Authorities”

Sales of angioplasty balloons are boosted by a rise in product approvals by regulatory authorities in the United States. The market is driven by favorable reimbursement policies and growing acceptance of newer technological advances in treatment options. Additionally, a rise in the use of stent graft balloon catheters in surgeries is a major factor in the market expansion.

How is the Angioplasty Balloons Market Progressing in China?

“Growing Geriatric Population Driving Market Expansion”

The market in China is expanding significantly due to growing consciousness regarding percutaneous coronary intervention (PCI) procedures, coupled with the increasing adoption of cost-effective and minimally-invasive procedures. Market expansion in China is attributed to an increase in the spending power of the population. Increasing government spending on healthcare, a growing geriatric population, and rising disposable income are supporting market expansion.

Category-wise Insights

Why Do Drug-coated Angioplasty Balloons Generate Bulk of Overall Revenue?

“Drug-coated Angioplasty Balloons Preferred Due to Their Superior Safety and Effectiveness”

Based on balloon type, the market is divided into normal, drug-coated, cutting, and scoring.

• Drug-coated angioplasty balloons are leading the overall market, holding 30% share.

Drug-coated angioplasty balloons, which are considered to be a significant upgrade on normal angioplasty balloons, have been gaining traction in recent years. Additionally, drug-coated angioplasty balloons, which provide higher safety, efficacy, and improved blood flow throughout the body, are becoming more popular. This has also decreased the usage of vascular implants such as stents that might break vessels.

Even as drug-coated balloons continue to gain popularity, the demand for cutting balloons has been gradually declining. At the time of their advent, cutting balloons witnessed exceptional interest, as they were a step up as compared to conventional uncoated normal balloons; however, the stiffness of the device, coupled with the risk of complex lesions, led to their popularity declining over the years.

Competitive Landscape

Key market players are improving their product offerings by incorporating advanced technologies to pace up with this growing demand while aligning with the pervasive trend of 'value-based' healthcare. They are highly investing in R&D initiatives to introduce advanced products and increase their market revenue.

Leading companies are focusing on novel angioplasty balloons made of different materials and new products that work differently, while also looking to improve on their existing product to have a positive impact on patient outcomes. Manufacturers of angioplasty balloons are focusing on new developments, product standards, and quality control to gain a stronger foothold in the global market.

For instance :

• In 2022, GIE Medical started two clinical trials in the United States that aim at the use of ProTractX3 TTS Drug-Coated Balloon technology to treat oesophageal and intestinal strictures.

Key Segments of Angioplasty Balloons Industry Research

• By Balloon Type :

  • Normal
  • Drug-coated
  • Cutting
  • Scoring

• By Material :

  • Non-compliant
  • Semi-compliant

• By Application :

  • Coronary Angioplasty
  • Peripheral Angioplasty

• By End User :

  • Hospitals
  • Specialty Clinics
  • Catheterization Laboratories
  • Ambulatory Surgical Centers
  • Others

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa