The balloon catheter is a flexible, tubular device with a balloon at its tip that is used to create, enlarge or remove blockage of a passageway within the body, by passing it through body channels. The balloon tip can be expanded by water or air to remove the blockage or to expand partly closed passageway during procedure. The balloon catheter used to treat heart related disease specifically coronary heart disease, which are caused due to diabetes, high blood pressure and high cholesterol level in blood. During the treatment of coronary heart disease, the balloon catheter helps to allow the blood flow from arteries by making a passageway that is blocked due to excess cholesterol by avoiding open heart surgery.
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Also, the balloon catheter plays major role in angioplasty to treat atherosclerosis by widening the narrowed or obstructed arteries or veins. As, the procedure is minimally invasive, it is economically beneficial to the patient and helps patient to get cure rapidly as compared to open surgical procedure.
Rising incidence of cardiovascular disease and coronary heart disease cases due to increase in the prevalence of diabetes, high blood pressure cases and number of smokers worldwide is expected to favor the demand for balloon catheters around the globe.
According to World Health Organization (WHO), in 2015 around 17.7 million people died due to cardiovascular disease worldwide, and out of this total deaths around 7.4 million were die due to coronary heart disease. Furthermore, the majority of deaths are occurred in emerging economies due to high prevalence rate and lack of healthcare services in rural areas.
Also, increasing aging population and rising demand for minimally invasive procedures are the other factors leading to the growth of balloon catheters market in developed as well as emerging economies.
As per United Nations Population Fund, people aged 60 years and above accounted for 12.3% of the global population in 2015, which is expected to increase to 22% by 2050. The factors behind aging population in developed region are developed healthcare services and access of healthcare facilities to people, better nutrition, sanitation and economic development.
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This report segments the global balloon catheters market on the basis of product material and geography. On the basis of material, the market is categorized into polyurethane, nylon and other type of materials such as pebax. Among these, the polyurethane segment dominate the balloon catheters market throughout the forecast period. On the basis of geography, the market is divided into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among all regions, North America contributes major market share supported by increased incidence rate of cardiovascular disease and growing inclination of the populace towards minimally invasive procedures.
Key features of the study:
- This report provides in-depth analysis of the balloon catheter market and provides market size (US$ Mn) and Cumulative Annual Growth Rate (CAGR) (%) for the forecast period (2017–2025)
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market. It provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, pipeline products, regional outlook, and competitive strategy adopted by the leading players
- It profiles leading players in the global balloon catheter market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, and future plans
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launch, market expansion, and marketing tactics
- The global balloon catheters market report caters to various stakeholders in this industry, including investors, product developers, distributors, healthcare companies, research institutes, medical device companies, new entrants, and financial analysts
- Stakeholders would greatly benefit in decision making through the various strategy matrices used in analyzing the balloon catheters market
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