The global angioplasty balloons market size In 2017, the market was worth USD 2.2 billion, and it is expected to increase at a CAGR of roughly 3.3 percent over the forecast period. Because of the minimally invasive nature of the surgery, this expansion can be ascribed to technology advancements and an increase in the number of angioplasty procedures conducted. Atherosclerosis can cause peripheral and coronary artery disease, which can lead to stroke, myocardial infarction, and/or cardiovascular mortality.
In the next years, the rising prevalence of these disorders is expected to enhance market growth. According to the WHO, about 18 million people died in 2016 as a result of Cardiovascular Diseases (CVDs), accounting for 31% of all fatalities worldwide. The market is also likely to be driven by an increase in the target population base around the world. Furthermore, during the projected period, advancements in imaging technologies and the introduction of new products are expected to fuel market growth.
In 2014, for example, the FDA approved Medtronic PLC's drug-coated balloon IN.PACT Admiral for the treatment of peripheral artery disease. The Japanese Ministry of Health, Labor and Welfare also gave the business product approval for the treatment of peripheral artery disease in the upper leg. The market is expected to grow as cutting and scoring balloons, such as AngioSculpt, get approval and commercialization.
Furthermore, rapid adoption of sophisticated technologies in the angioplasty segment, including as drug-eluting and cutting balloons, is expected to boost market expansion throughout the projection period, particularly in developed countries. Furthermore, angioplasty balloons have a greater success rate than traditional angioplasty techniques, which is expected to drive market expansion.
Due to the inexpensive cost of these devices, supportive government laws and approval processes, and attractive reimbursement policies, the normal balloons category led the market in 2017. The fastest-growing type segment is expected to be Drug-Eluting Balloons (DEBs). In 2017, favourable reimbursement resulted to an increase in DEB sales, which is expected to continue in the foreseeable years.
The introduction of new products on the market, the advantages of DEBs over ordinary balloons, and the inexpensive cost of DEBs compared to stents are all contributing to this increase. Specialty goods, such as scoring and cutting balloons, and large companies' R&D spending are expected to drive demand even higher. Specialty balloons like AngioSculpt and Flextome have acquired marketing approval in the United States, Europe, Japan, and other key markets. As a result, product availability in major markets is expected to increase in the future years.
The market has been divided into two segments based on application: coronary and peripheral vascular disorders. Due to the high incidence of coronary artery disorders, which are the most frequent form of all heart ailments, the coronary sector led the market in 2017. According to the CDC, these diseases cause approximately 370,000 deaths per year. Because of the increasing number of approvals for innovative medications in recent years, peripheral vascular disorders is expected to be the fastest-growing area in the coming years. Furthermore, increased awareness of disorders affecting the peripheral arteries, as well as the availability of improved goods, are expected to propel the market forward.
In addition, private and governmental hospitals, as well as Catheterization Laboratories (Cath Labs), are also contributing considerably to the industry's growth. In 2017, hospitals held the second-largest proportion of the global market. As these healthcare venues provide patient care both during and after treatment, the category is expected to grow in the future.
In 2017, North America accounted for the maximum revenue share. The region's principal drivers are the presence of significant industry actors on the ground, a shift in FDA policy in the United States, and an increase in the frequency of percutaneous coronary procedures. Due to rising healthcare spending and positive government support, Asia Pacific is likely to be the most attractive geographical market.
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