Dublin, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The "Global Balloon Catheter Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
This industry insight underscores the anticipated expansion of the Global Balloon Catheter Market, projected to reach a valuation of approximately US$ 6.99 billion by 2030. As cardiovascular diseases continue to rise globally, this marks a substantial growth trajectory with a CAGR of 6.73% between 2024 and 2030.
The demand for balloon catheters, veterinary in angioplasty and a host of other minimally invasive medical procedures, is witnessing a surge due to the ageing population and the increasing prevalence of coronary artery diseases. Noteworthy advancements within the sector include Drug Eluting Balloon Catheters, potentially revolutionizing vascular interventions and offering promising long-term outcomes.
Market Dynamics and Trends Fueling Growth
- Demand for minimally invasive procedures propelling market advancements and adoption.
- Innovative materials like nylon advancing catheter flexibility and cost-efficiency.
- Emerging economies are facilitating market growth driven by increased healthcare spending.
- Clinics emerge as a significant end-user segment, underscoring a shift toward more accessible healthcare solutions.
The report delves deep into key segments of the market such as product type, indications, raw materials, and end-user preferences. Among these, the drug-eluting balloon catheter and applications for coronary artery disease are noteworthy growth territories. Moreover, the enduring presence of nylon as a preferred raw material resonates with its fundamental advantages for interventional procedures.
Geographical Insights: North America Leads; Asia Pacific Surges Forward
The United States continues to lead the charge in the global marketplace, backed by strong research infrastructure and conducive regulatory frameworks. However, fastest growth rates are being spotted in the Asia Pacific region, attributed to its burgeoning population and healthcare expenditures.
Global Balloon Catheter Market Challenges and Opportunities
The landscape presents opportunities for novel therapeutics and optimization of medical procedures, with a challenge in mitigating potential inflationary impacts. Strategic corporate alignments and increased AI utilizations in procedural optimization are expected to define the competitive arena.
From product developments to geographical expansions, the report accentuates crucial strategic developments by leading entities within this sector. This analysis stands as a testament to their efforts in addressing the nuanced needs of the medical community as they navigate and capitalize on the current market trends.
The documented research reflects the commitment to providing a thorough exploration of the market, substantiating healthcare providers and investors with a robust groundwork for informed decision-making. As the landscape continues to evolve, reflecting advancements in medical technologies and treatments, this report is posited as a pivotal reference to those seeking to understand and navigate the potentials of the Global Balloon Catheter Market.
Recent Developments
A significant enrollment milestone was achieved in a new guidewire study by the industry; concurrently, a notable European launch marked the rise of a novel drug-coated balloon catheter poised to enhance coronary artery disease treatments.
Emerging Key Players in the Market
Spearheading innovation, internationally recognized companies such as Abbott Laboratories, Becton Dickinson and Company, Cardinal Health, Teleflex Incorporated, Medtronic plc., Johnson and Johnson, Edwards Lifesciences Corporation, Stryker Corporation, and Smith & Nephew are at the forefront of the Global Balloon Catheter Market's transformative journey.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 230 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $4.43 Billion |
| Forecasted Market Value (USD) by 2030 | $6.99 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/lqmlp7
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