Balloon Catheter Market to Grow at a CAGR of 3.8%through 2026
Balloon catheter is a billion dollars market accounting for a substantial proportion of healthcare expenditure worldwide. The global balloon catheter market is expected to reach US$ 2,887.4 Mn in 2016 and is projected to register a CAGR of 3.8% during the period 2016-2026. The market is anticipated to reach 16,587 thousand units in terms of volume by the end of 2026. In a new report titled “Balloon Catheter Market: Global Industry Analysis and Opportunity Assessment, 2016-2026”, Future Market Insights provides in-depth analysis and insights into the global balloon catheter market and studies the factors and restraints impacting the market during the forecast period.
According to Future Market Insights, a rising prevalence of cardiac diseases leading to interventional cardiology procedures and an increasing geriatric population prone to cardiac arrest is expected to fuel the growth of the global balloon catheter market over the forecast period. “Economic factors such as growing healthcare expenditure, increasing disposable income per capita, rising government support in developed economies, and favourable reimbursement policies are expected to boost the growth of the global balloon catheter market over the forecast period.” Analyst, Future Market Insights.
However, a high cost of coronary angioplasty and stenting treatment and risk of infection and artery collapse associated with balloon catheterisation is likely to hinder market growth over the forecast period.
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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 product type balloon catheter segment is expected to expand at a CAGR of 20.0% in terms of value over the forecast period while the Stent graft balloon catheter segment is estimated to account for 33.9% revenue share by 2016 end
- The Polyurethane raw material segment is expected to expand at a CAGR of 4.6% while the Nylon segment is expected to expand at a CAGR of 3.8% in terms of value over the forecast period
- The Coronary artery disease indication segment is projected to dominate the global balloon catheter market in terms of value; the Peripheral vascular disease indication segment is expected to expand at a CAGR of 3.1% in terms of value over the forecast period
- Among end users, the Ambulatory surgical centres segment is expected to expand at a CAGR of 2.7% in terms of value over the forecast period while the Cardiac catheterisation laboratories segment is estimated to account for 19.8% revenue share by 2016 end
The global balloon catheter market is segmented into seven key regions – North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA. Sales of balloon catheters have remained quite healthy in the U.S. market in recent years, making North America the most lucrative market globally. Revenue from the North America market is anticipated to expand at a CAGR of 3.5% from 2016 to 2026 to reach US$ 1,312.2 Mn by 2026. In addition to North America, balloon catheters sales are also growing steadily in Japan, MEA, and APEJ. Revenues in APEJ are anticipated to grow by 4.2% whereas MEA is expected to increase at 3.4% over the forecast period.
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Boston Scientific Inc., Medtronic, Terumo Corporation, MicroPort Scientific Corporation, B. Braun Melsungen AG, Jotech GmbH, QX Medical LLC, Meril Life Pvt. Ltd., Hexacath, Abbott Laboratories, Tokai Medical Products Inc., Biosensors International Ltd., Cook Medical Inc., Cardionovum GmbH, Cordis Corporation, and Biotronik Inc. are the leading companies operating in the global balloon catheter market. Major market players are adopting strategies such as mergers and acquisitions to maintain their market share.
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