Advanced Balloon Catheter Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented by Raw Material Type (Nylon, PET, Polyurethane, Others), By Application (Coronary Procedures, Peripheral Procedures, Neurovascular Procedures, and Other Procedures), End Users (Hospitals and Ambulatory Surgical Centers, Catheterization Laboratories, and Others), By Region, and Competition

The Global Advanced Balloon Catheter Market is anticipated to witness a growth of steady CAGR in the forecast period, 2024-2028. This can be ascribed to the rising prevalence of different chronic heart diseases and growing geriatric populations across the region. The increasing demand for minimally invasive procedures in emerging countries and the development of advanced cardiovascular devices will further enhance the overall market demand for balloon catheters during the forecast period. The other factors supporting the market’s growth are the growing incidence of cancers in the pelvic region affecting the urinary system along with the technical development of drug-coated balloon catheters aimed at drug delivery at the site of action is expected to propel the growth of the market. Moreover, the rise in the research and development activities in the medical sector and the rise in the adoption of various new technology are the contributing factors to the growth of the market. As people age, they become more susceptible to cardiovascular diseases and other medical conditions that can be treated with balloon catheters. This has led to an increase in the number of people requiring medical treatment, which in turn has driven the demand for advanced balloon catheters.

The development and commercialization of advanced balloon catheters require regulatory approval from government agencies such as the FDA in the United States and the European Medicines Agency (EMA) in Europe. The approval process can be time-consuming and costly, and failure to obtain regulatory clearance can delay product launch and affect market penetration. Advanced balloon catheters face stiff competition from alternative treatment options such as stents, drug-eluting stents, and bypass surgery. These alternative treatments may offer better clinical outcomes, lower costs, or both, and may limit the adoption of advanced balloon catheters in certain patient populations. The reimbursement landscape for advanced balloon catheters is complex and varies by region and payer. Some insurance companies may not cover the full cost of the procedure, which can limit patient access and adoption of the technology. The successful use of advanced balloon catheters requires skilled healthcare professionals with specialized training and experience. The shortage of trained professionals can limit the adoption of the technology in certain regions or healthcare systems. Advanced balloon catheters have been subject to several product recalls and safety concerns in recent years. These incidents can damage the reputation of manufacturers and lead to reduced consumer confidence and adoption of the technology. As healthcare infrastructure continues to improve globally, there is an increase in access to healthcare services, which includes catheterization procedures. With an aging population, there is an increase in the number of individuals with chronic medical conditions such as urinary incontinence or bladder dysfunction. Catheters are often used to manage these conditions.

Increasing prevalence of cardiovascular diseases across the globe

The increasing prevalence of coronary heart disease and deaths occurring in emerging countries due to a lack of health care services in rural areas is expected to create lucrative growth during the forecast period. According to the Central For Diseases Control, Every year, about 805,000 people in the United States have a heart attack and about 1 in 5 heart attacks are silent, the damage is done, but the person is not aware of it. Similarly, increasing need for surgical intervention for the treatment of cardiovascular disorders enhances the demand for Percutaneous Transluminal Angioplasty (PTA) balloon catheters during the forecast period. According to a research article published by the NCBI in 2018, more than 200 million people suffer from Peripheral Artery Disease (PAD) across the globe. Cardiovascular diseases are the leading cause of death globally, accounting for 17.9 million deaths each year, according to the World Health Organization (WHO). This has led to an increased demand for effective and minimally invasive treatment options, such as balloon catheters. Lack of physical activity is a major contributor to the increasing prevalence of cardiovascular diseases. Sedentary lifestyles lead to obesity, high blood pressure, and high cholesterol levels, all of which increase the risk of cardiovascular disease. Poor diet, high in saturated and trans fats, salt, and sugar, can increase the risk of developing cardiovascular diseases. These diets are often low in fiber, vitamins, and minerals, which are essential for good heart health. Smoking is a leading cause of cardiovascular diseases, as it damages the blood vessels and increases the risk of atherosclerosis (hardening of the arteries). Chronic stress can contribute to high blood pressure, which increases the risk of developing cardiovascular diseases. Some people may be genetically predisposed to developing cardiovascular diseases due to inherited conditions such as familial hypercholesterolemia. As we age, our risk of developing cardiovascular diseases increases. This is due to changes in the blood vessels and heart, which can make them less efficient and more prone to damage. Minimally invasive procedures are becoming increasingly popular among patients due to their reduced recovery time and lower risk of complications. This has led to an increase in the use of advanced balloon catheters, which are minimally invasive and effective in treating a wide range of medical conditions.

Advancements in surgical procedure propel the market growth

Growing demand for angioplasty over conventional surgery has gained a significant preference among patients due to its minimally invasive procedure and better outcomes which are expected to create lucrative growth during the forecast period. Peripheral artery diseases majorly include this procedure for the use of catheters to clear blocked arteries. Similarly, the growing demand for minimally invasive surgeries along with increasing the number of catheterization laboratories across the region is expected to create lucrative growth during the forecast period. Also, growing initiatives and investments by government and private organizations for the development of healthcare infrastructure in underdeveloped regions will further propel the market growth during the forecast period. According to the American Cancer Society’s estimates for bladder cancer in the United States for 2022 are about 81,180 new cases of bladder cancer (about 61,700 in men and 19,480 in women) and about 17,100 deaths from bladder cancer (about 12,120 in men and 4,980 in women). Drug-eluting balloon catheters are becoming increasingly popular due to their ability to prevent restenosis, which is the narrowing or re-closing of an artery after treatment. This has led to an increase in demand for these catheters, which is expected to drive the growth of the global advanced balloon catheter market. Companies are investing heavily in research and development to create new and innovative balloon catheters that are more effective and easier to use than previous models. This has led to the development of advanced balloon catheters that are designed to be more flexible, durable, and easier to maneuver during medical procedures.

Favourable Reimbursement Landscape in Developed Economies Foster the Market Growth

In the developing region, the reimbursement procedure depends on the citizen’s fulfilment of the prerequisites documents so some developing countries like the U.S, the UK, Canada, and Japan have this procedure which will enhance the growth of the healthcare sector during the forecast period. However, different private insurance company also provide the reimbursement procedure for patients other than angioplasties procedures like kyphoplasty and sinuplasty are also reimbursed which will boost the market growth over the years. However, in Europe, in the case of usage of advanced balloon catheters, like drug-coated balloon catheters for a procedure, additional reimbursement is also offered considering the high cost of the device. Thus, the favourable reimbursement landscape for angioplasties and other balloon catheter procedures will significantly impact the sales of advanced balloon catheters. Companies are increasingly collaborating with healthcare providers, academic institutions, and other organizations to develop new technologies and improve patient outcomes. These partnerships allow for greater access to funding, expertise, and resources, leading to faster development and commercialization of advanced balloon catheter technologies.

Recent Developments

• In September 2021, Philips acquired Intact Vascular, a medical device company that specializes in the development of balloon catheter technologies for peripheral artery disease (PAD). The acquisition is expected to complement Philips' existing portfolio of imaging and diagnostic tools for cardiovascular diseases.
• In October 2019, Teleflex acquired Z-Medica, a medical device company that specializes in the development of hemostatic technologies for trauma and surgical applications. The acquisition included Z-Medica's line of resuscitation catheters, which are used to restore blood flow to blocked vessels.
• In July 2019, Merit Medical acquired Vascular Insights, a medical device company that specializes in the development of interventional radiology technologies. The acquisition included Vascular Insights' line of advanced balloon catheters for the treatment of peripheral artery disease.
• In December 2018, Boston Scientific acquired NxThera, a medical device company that specializes in the development of minimally invasive therapies for urologic diseases. The acquisition included NxThera's Rezum system, which uses water vapor therapy delivered via balloon catheter to treat benign prostatic hyperplasia (BPH).
• In February 2019, B. Braun acquired NxStage Medical, a medical device company that specializes in the development of renal care technologies. The acquisition included NxStage's line of advanced catheters for hemodialysis access, which are used to create vascular access for patients with end-stage renal disease.

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Market Segmentation

The global advanced balloon catheter market is segmented into raw material type, application, end users, and region. Based on raw material type, the market can be segmented into Nylon, PET, Polyurethane, and Others. Based on the application, the market can be segmented into Coronary Procedures, Peripheral Procedures, Neurovascular Procedures, and Other Procedures. Based on end users, the market can be differentiated into Hospitals and Ambulatory Surgical Centres, Catheterization Laboratories, and Others. In terms of country, the United States is expected to be a lucrative market in the forecast period due to the growing demand for advanced technology used for the treatment of cardiovascular diseases in the country.

Recent Development

• According to a press release, Advance Serenity is a hydrophilic-coated angioplasty balloon catheter designed to meet the technical needs of clinicians for treatment of patients who suffer from Peripheral Artery Disease (PAD) which includes below-the-knee disease.

Market Players

Abbott Laboratories., Boston Scientific Corporation., Medtronic plc,Terumo Corporation, MicroPort, Scientific Corporation, B. Braun Melsungen AG, Meril Life Sciences Pvt. Ltd., Hexacath, Tokai Medical Products Inc. are some of the leading players operating in the global advanced balloon catheter market.

Report Scope:

In this report, the global advanced balloon catheter market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Advanced Balloon Catheter Market, By Raw Material Type:

o    Nylon

o    PET

o    Polyurethane

o    Others

• Advanced Balloon Catheter Market, By Application:
• Coronary Procedures
• Peripheral Procedures
• Neurovascular Procedures
• Other Procedures
• Advanced Balloon Catheter Market, By End-Users:
• Hospitals and Ambulatory Surgical Centers
• Catheterization Laboratories
• Others
• Advanced Balloon Catheter Market, By Region:
• North America
• United States
• Canada
• Mexico
• Europe
• France
• Germany
• United Kingdom
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Advanced Balloon Catheter Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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