Newark, NJ, Feb. 17, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global angioplasty balloons market is expected to grow from USD 2.76 billion in 2020 and to reach USD 3.67 billion by 2028, growing at a CAGR of 3.65% during the forecast period 2021-2028.
The driving factors for the growth of the market are technological innovations and advancements as well as an increase in the demand for balloon angioplasty as it is a minimally invasive method for the operation. The rise in the number of coronary and peripheral artery disorders increases the probability of stroke, cardiovascular death, and myocardial infarction. Such diseases are anticipated to propel the growth of the market over the forecast years. A rise in the worldwide base of the target population is also encouraging the growth of the market. Moreover, technological advancements in the imaging systems, as well as superior products related to balloon angioplasty, are anticipated to drive the growth of the market over the forecast period.
Angioplasty is recognized as Percutaneous Transluminal Coronary Angioplasty. Angioplasty is done by interventional cardiologists. Angioplasty is a method to open narrowed arteries. Cardiologists employ a thin and long tool that is identified as a catheter. A catheter comprises a tiny balloon that can be mounted at the position of the blockage. It is done in order to press the plaque against the walls of the arteries. Balloon angioplasty is extremely used in the coronary arteries in the heart as well as in different body parts. Carotid angioplasty is performed in order to open narrowed carotid arteries that supply blood to the brain. When such carotid arteries are blocked, there is a big chance of a person experiencing a stroke due to a limited amount of oxygen. Such angioplasties are also used in the tibial and peroneal arteries, the popliteal artery, the femoral artery, the iliac artery, and the aorta.Moreover, an increase in the utilization of technologically advanced products like cutting and drug-eluting angioplasty balloons in emerging nations is expected to boost the growth of the market. Also, successful runs of balloon angioplasty are higher as compared to the conventional angioplasty methods. It is also likely to propel the market.
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Key players operating in the global angioplasty balloons market include Johnson & Johnson, Medtronic PLC, Becton, Dickinson and Company, Cook Medical, Inc., Boston Scientific Corporation, Abbott Laboratories, ENDOCOR GmbH and Cardinal Health. To gain a significant market share in the global angioplasty balloons market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
The DEBs segment is expected to show the highest share over the forecast period
The type segment includes scoring, cutting, DEBs and normal. DEBs (Drug-Eluting Balloons) segment is expected to show the highest share over the forecast period. The factors that contributed to the growth of the segment are inexpensive DEBs, several benefits of DEBs compared to the other types, as well as novel product launches. Also, the cutting and scoring type segment is expected to show significant growth over the forecast period due to a vast investment in research and development by key players. Moreover, the availability of specialty balloons is expected to propel the market over the forecast period.
The peripheral segment is expected to show the highest share over the forecast period
The application segment includes peripheral and coronary. The peripheral segment is expected to show the highest share over the forecast period. The primary factor expected to be responsible for the growth of the segment is an increase in the number of permissions for innovative products over the forecast period. Also, increasing knowledge regarding peripheral disorders, as well as the availability of excellent products, are anticipated to boost the growth of the segment.
The ASCs segment had the highest share of 36.77% in 2020
The end-use segment includes cath labs, hospitals and ASCs. The ASCs segment had the highest share of 36.77% in 2020. It is due to a massive requirement for the therapies in ambulatory surgical centers. The increase in the demand is due to lesser stays in the hospitals and suitable high-level assistance. Further, ASCs treatments are less expensive that is beneficial in reducing the therapeutic expenditures. It is also responsible for the highest share of the segment.
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Regional Segment Analysis of The Angioplasty Balloons Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global angioplasty balloons market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific region is expected to show the highest share in the angioplasty balloons market over the forecast period. It is due to a rise in the initiatives by the government along with increased investments in the healthcare sector. Huge investments in research and developments by the key manufacturers in the Asia Pacific region are anticipated to boost the market's growth over the forecast period.
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About the report:
The global angioplasty balloons market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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