Balloon catheter is an innovative medical device that comprises guidewire and catheter, which is inserted into the femoral artery in the leg or sometimes into the radial artery in the arm to treat constricted blood vessels. These products are generally used to prevent blood vessel constriction caused due to atherosclerosis – deposition of lipid substances in the blood vessel. In terms of revenue, the global balloon catheter market is projected to expand at a CAGR of 3.8% during the forecast period and is expected to be valued at US$ 4,191.7 million by the end of 2026. The global balloon catheter market is expected to represent US$ 1,304.3 Mn in terms of incremental opportunity between 2016 and 2026.
The global balloon catheter market is segmented on the basis of product type (Normal Balloon Catheter, Cutting Balloon Catheter, Scoring Balloon Catheter, Drug Eluting Balloon Catheter, Stent Graft Balloon Catheter); disease indication (Coronary Artery Disease, Peripheral Vascular Disease); raw material (Polyurethane, Nylon, Others); and end user (Public Hospitals & Private Hospitals, Ambulatory Surgical Centres, Cardiac Catheterisation Laboratories). The drug eluting balloon catheter segment is expected to expand at a significant CAGR of 20.0% over the forecast period owing to the unique benefits offered by these balloon catheters in the treatment of Coronary Artery Disease (CAD). The stent graft balloon catheter segment is expected to expand at a CAGR of 4.0% in terms of value over the forecast period.
Factors and trends impacting the market
The global market for balloon catheters is expected to witness moderate growth rate in terms of value owing to increasing prevalence of cardiovascular diseases and growing number of cardiology intervention procedures globally. Moreover, growing healthcare expenditure and reimbursement support for vascular disorders, increasing geriatric population, introduction of next generation drug eluting balloon catheters, and increasing research and development activities for multipurpose balloon catheters is creating high potential growth opportunities for players operating in the global balloon catheter market.
Balloon Catheter Market: Global Industry Analysis and Opportunity Assessment, 2016-2026Buy Now
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