Worldwide Angioplasty Balloons Industry Grows Owing to the Rising Health Disorders
The increasing prevalence of coronary artery disorders due to lack of physical activity and unhealthy diet, along with rising aging population and rapid growth in the obesity rate across the globe are major factors attributing to the growth of the Angioplasty Balloons market. Angioplasty balloons are therapeutic devices used in the treatment of peripheral and coronary artery diseases. These are inserted into a coagulated artery and then inflated to clear clog for proper blood flow. A wide variety of plastic materials is used to give better flexibility and strength to these devices. These balloons are made by blow molding process of inserting material into a tube to form a balloon.
The report recently added by DecisionDatabases.com “Global Angioplasty Balloons Market Research Report- Industry Analysis, Size, Share, Growth, Trends and Forecast
” foresees that the continuous addition of innovative product in the product-portfolio and rapid technological advancements in angioplasty balloons such as “cryoplasty” in order to offer more faster, efficient and safe procedures by manufacturers will further open new growth avenues for the market over the coming years. The recent emergence of digital cardiac catheterization labs in several hospitals to carry out therapeutic & diagnostics procedures will propel the market demand for the product in the near future. Digital cath labs are getting popular among the healthcare end users due to its features of easy detection of cardiac disease and efficient monitoring of heart pressure & blood flow for the users. Furthermore, several benefits associated to angioplasty balloons including less post-operative complications, minimal incision, shorter recovery time, short-duration hospital stay and low cost has made them best-preferred processes over stents & bypass surgeries, globally. However, rising incidences of product failure, less product recall value and high risk associated with the procedures are major restraints, which can negatively impact the growth of the market in the forthcoming years.
In the report the global market has been segmented based on product type into normal balloon, drug-eluting balloon, cutting balloon and scoring balloon. The normal balloon has accounted for major market share and is anticipated to continuously grow at an outstanding rate over the forecast period on account of their widespread usage worldwide and associated benefits such as easy operative procedures, higher efficacy and low cost with them. The market has been further segmented based on material into drug-coated balloons and semi-compliant balloons. The semi-compliant balloons dominated the market and are expected to continue its dominance over the forecast period owing to growing application scope due to a broad range of offerings to patients like reduce anatomical damage to the arteries as a result of less pressure & amount induced by deformation on the vessel.
North America has accounted for largest share and is projected to witness a double-digit growth over the forecast period owing to expanding sophisticated healthcare infrastructure, rising prevalence of cardiac disorders, growing geriatric population base and unhealthy lifestyle of people in the region. Furthermore, well structured & supportive medical reimbursement plan will allow people to go for advanced and expensive therapies. Asia Pacific is a fastest growing market over the forecast period on account of increased spending in the healthcare sector, high unmet need and rising government initiative in this region.
The key industry players include Abbott Laboratories, Inc., BIOTRONIK SE & CO. KG, Boston Scientific Corporation, Cook Medical, Cordis Corporation, C. R. Bard, Inc., ENDOCOR GmbH, Medtronic plc, Opto Circuits (India) Limited, NATEC Medical, Spectranetics Corporation.
In Sep 2012, Boston Scientific Corporation has Launches “Emerge PTCA (Percutaneous Transluminal Coronary Angioplasty) Balloon Dilatation Catheter” in the U.S.
In Feb 2016, Nipro North America, a sub-division of Nipro Medical Corporation, has introduced the Cronus HP high-pressure, over-the-wire PTCA balloon catheter.
In March 2016, Abbott has launched a next-generation high-pressure balloon dilatation catheter “Voyager NC Coronary Dilatation Catheter”, designed to optimize the angioplasty treatment procedures of patients suffering from coronary artery disease (CAD).
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