Wilmington, Delaware, United States, March 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global Percutaneous Transluminal Angioplasty Balloons Market is likely to register a CAGR of 5.4% between 2022 and 2031. Percutaneous transluminal angioplasty is a minimally invasive medical procedure for treating different types of cardiovascular diseases such as peripheral artery disease, coronary artery disease, or atherosclerosis. PTA balloons are installed in a patient for dilating or widening blocked or narrowed blood vessels, thereby, helping in better blood flow. Percutaneous transluminal angioplasty is a globally accepted treatment for cardiovascular diseases. The high success rate of PTA for treating cardiovascular diseases is anticipated to augment the demand for percutaneous transluminal angioplasty balloons in the market.
Percutaneous transluminal angioplasty balloons are made of polyethylene terephthalate, or PET, and are available in different types and sizes that can be inflated at a specific pressure. The balloon helps to expand the blocked or narrowed blood vessel, thereby allowing passage for better blood flow.
According to the TMR report, the global percutaneous transluminal angioplasty balloons market value stood at US$ 2.1 Bn in 2022 and is projected to reach more than US$ 3.5 Bn by the end of 2031.
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Key Findings of Study
- Rise in Popularity of Minimally Invasive Procedures: Major advancements in PTA balloon technology, such as scoring balloons and drug-coated balloons, have increased the safety and efficacy of minimally invasive surgeries, thereby making them a more trusted and reliable form of treatment for both patients and healthcare providers. Thus, the rise in popularity of minimally invasive surgeries is likely to augment the overall market size during the forecast period.
- Increase in Prevalence of Cardiovascular Diseases: Rise in the adoption of a sedentary lifestyle with minimal or no exercise has resulted in a surge in the prevalence of lifestyle diseases. This also augments the prevalence of cardiovascular diseases where the arteries get blocked, thereby creating business opportunities for the percutaneous transluminal angioplasty balloons market. A rise in the number of PTA treatments is automatically projected to boost the global market for percutaneous transluminal angioplasty balloons in the next few years.
Key Drivers
- Rise in the prevalence of heart diseases among the geriatric population is anticipated to boost the market growth
- A high preference for minimally invasive surgeries among patients to treat blocked arteries is estimated to accelerate growth
- A surge in the popularity of coronary angioplasty is projected to promote market development for percutaneous transluminal angioplasty balloons during the forecast period.
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Regional Growth Dynamics
- North America is anticipated to account for the leading market share during the forecast period on account of the presence of dominant players. Furthermore, the presence of a well-established medical industry equipped for next-generation therapy and diagnostics is further projected to help this region attract high revenues in the near future.
- The US contributes a major market share to the regional industry on account of the presence of a large patient pool with cardiovascular disorders among both the geriatric and bariatric populations. Besides this, high investments in R&D and the increase in medical expenditure supported by government initiatives are further expected to help North America continue its dominance in the next few years.
- The market in the Asia Pacific is projected to grow at a significant rate owing to the rapidly improving healthcare infrastructure and integration of the latest technologies in medical therapeutics. Moreover, the presence of densely populated countries and high rate of prevalence of cardiovascular disorders in countries such as India, China, and Japan are further expected to help this region register the fastest growth rate during the forecast period.
Key Players
Prominent players in the global percutaneous transluminal angioplasty balloons market include
- Terumo Corporation,
- Spectranetics (Philips Healthcare),
- Opto Circuits (India) Ltd.,
- MicroPort Scientific Corporation,
- Medtronic, Cordis,
- Cook Medical,
- Boston Scientific Corporation,
- B. Braun Melsungen AG, and Abbott.
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Percutaneous Transluminal Angioplasty Balloons Market Segmentation
Product
- Conventional Balloons
- Drug Eluting Balloons
- Cutting and Scoring Balloons
Guidewire Compatibility
- 0.014 Inch
- 0.018 Inch
- 0.035 Inch
Application
- Coronary Angioplasty
- Peripheral Angioplasty
End-user
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Countries
- U.S.
- Canada
- Germany
- U.K.
- France
- Italy
- Russia & CIS
- Spain
- Japan
- China
- India
- ASEAN
- GCC
- South Africa
- Brazil
- Mexico
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