Portland, OR, May 31, 2022 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloon Catheters Market by Product (Normal balloon catheter, Drug eluting balloon catheter, Cutting balloon catheter, Scoring balloon catheter), by Delivery Platform (Rapid Exchange (RX) / Monorail balloon catheter, Over-the-wire (OTW) balloon catheter), by Compliance (Semi-Compliant, Non-Compliant), by Balloon Material (Polyolefin copolymer (POC), Polyethylene (PE), Polyethylene terephthalate (PET)): Global Opportunity Analysis and Industry Forecast, 2021-2031”. According to the report, the global percutaneous transluminal coronary angioplasty (PTCA) balloon catheters industry generated $1.2 billion in 2020, and is anticipated to generate $1.8 billion by 2031, witnessing a CAGR of 4.4% from 2022 to 2031.
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Prime determinants of growth
Rise in geriatric population, surge in number of minimally invasive surgeries, increase in hospitalization with surge in cardiovascular disorders, rise in demand for angioplasty over conventional surgeries, and increase in the number of catheterization laboratories drive the growth of the global percutaneous transluminal coronary angioplasty (PTCA) balloon catheters market. Moreover, rise in technological breakthroughs & modernization in healthcare equipment and surge in healthcare research and development activities present new opportunities in the coming years.
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic has had a negative impact on the global percutaneous transluminal coronary angioplasty (PTCA) balloon catheters market, owing to a decline in the frequency of emergency and general visits linked to cardiovascular disorders.
- Several studies revealed that the frequency of elective cardiac, neurology, and urology surgeries for the management of certain chronic diseases decreased in order to maintain the social distancing norms.
Get detailed COVID-19 impact analysis on the Percutaneous Transluminal Coronary Angioplasty (ptca) Balloon Catheters Market- https://www.alliedmarketresearch.com/request-for-customization/2635?reqfor=covid
The normal balloon catheter segment to maintain its leadership status throughout the forecast period
Based on product, the normal balloon catheter segment held the highest market share in 2020, accounting for around three-fifths of the global percutaneous transluminal coronary angioplasty (PTCA) balloon catheters market, and is estimated to maintain its leadership status throughout the forecast period, owing to increase in geriatric population and surge in the occurrence of cardiovascular disease. However, the drug eluting balloon catheter segment is projected to manifest the highest CAGR of 5.3% from 2022 to 2031, due to increase in angioplasty surgeries.
The semi-compliant segment to maintain its lead position during the forecast period
Based on compliance, the semi-compliant segment accounted for the largest share in 2020, contributing to nearly four-fifths of the global percutaneous transluminal coronary angioplasty (PTCA) balloon catheters market, and is projected to maintain its lead position during the forecast period. This is attributed to changes in lifestyle that lead to hypertension, obesity, and other risk factors that result in vascular disorders. However, the non-compliant segment is expected to portray the largest CAGR of 6.1% from 2022 to 2031, due to rise in demand for minimally-invasive surgeries, government initiatives, and increase in prevalence of cardiovascular disorders.
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North America to maintain its dominance by 2031
Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global market, owing to improved healthcare infrastructure, government initiatives, rise in the incidences of cardiac disorders, and rise in healthcare expenditure in this region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.3% from 2022 to 2031. This is due to increase in incidences of coronary heart diseases, rise in awareness regarding heart diseases and their treatments, and improvement in healthcare infrastructure in this region.
Leading Market Players: -
- Alvi Medica
- Abott Laboratories
- Boston Scientific Corporation
- Becton, Dickinson & Company
- Ivascular
- Ronstis
- Koninklijke Phillips
- Medtronic PLC
- Balton SP Zoo
- B. Braun Melsungen AG
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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