Angioplasty Balloons Market Economic Trends, Industry Development, Challenges, Forecast and Strategies To 2027
The angioplasty balloons market is anticipated to touch USD 3457.35 million at a 5.01% CAGR between 2022- 2027, according to the new report by Market Research Future (MRFR). Angioplasty is a minimally invasive endovascular technique used to widen obstructed or narrowed veins or arteries, generally to treat arterial atherosclerosis. Scoring balloons, drug eluting balloons, cutting balloons, and normal balloons are the different types of angioplasty balloons that have wide applications in peripheral artery disease and coronary artery disease. They are widely used in ambulatory surgical centres, cardiac catheterization laboratories, hospitals, and others.
On the contrary, increasing focus to treat COVID-19 patients has put cardiac surgeries on halt along with disruption in the supply chain, thereby limiting the global angioplasty balloons market growth.
Based on the region, the global angioplasty balloons market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), the Middle East and Africa (MEA). Of these, the Americas will dominate the market over the forecast period. The presence of eminent players, coupled with tie-ups by several companies to expand geographical footprints, is adding to the global angioplasty balloons market growth in the region.
The global angioplasty balloons market in Europe is predicted to hold the second-largest share over the forecast period. The presence of leading industry players and different strategies undertaken by these players to strengthen their presence, such as mergers and acquisitions and joint ventures coupled with increased hospitalizations for cerebral angioplasty and carotid artery angioplasty is adding to the global angioplasty balloons market growth in the region.
The global angioplasty balloons market in the APAC region is predicted to grow at a fast pace over the forecast period. Manufacturers are making vigorous marketing activities to increase potential targets which in turn is adding to the global angioplasty balloons market growth in the region.
The global angioplasty balloons market in the MEA will have the smallest share over the forecast period but is predicted to grow in the future for the inclination of top companies to untapped regions.
Key players profiled in the global angioplasty balloons market report include Endocor (Germany), Cordis (Cardinal Health) (US), Terumo Medical Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), Cook (US), Boston Scientific Corporation (US), C.R. Bard (BD) (US), Biotronik SE Co. KG (Germany), Abbott (US), and B. Braun Melsungen AG (Germany). Industry players have incorporated strategies such as mergers, partnerships, joint ventures, new product launches, and acquisitions to create a niche in the market.
The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The European market for angioplasty balloons is expected to hold a substantial share owing to the increase in the number of cardiac disorder cases. The angioplasty balloons market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The angioplasty balloons market in this region is anticipated to be the fastest-growing during the forecast period due to the increasing uptake and adoption rate of newer treatment options by medical professionals. The increasing patient pool and mortality rate due to cardiac diseases in these countries also fuel the market growth. For instance, in 2017, ischemic heart disease was the second-highest cause for death in Japan. The angioplasty balloons market in the Middle East & Africa has been divided into the Middle East and Africa.