Due to the increasing occurrences of coronary artery diseases like unstable angina and myocardial infraction and chronic heart diseases, the emerging markets of Asia Pacific region are lucrative markets for healthcare investment opportunities. The increasing use of intra-aortic balloon pumps in the treatment of the abovementioned diseases as well as to treat cardiogenic shock will create huge opportunities for the intra-aortic balloon pump market in these regions. Improving quality of medical treatment and growing healthcare transformation in these countries is also likely to create huge opportunities for the intra-aortic balloon pump market. In order to increase their revenue share, manufacturers of medical devices are focusing on the development of catheters and consoles that have improved safety and efficacy output, which is also likely to be an important factor driving the intra-aortic balloon pump market over the assessment period. Keeping in mind these factors, Market Research Reports Search Engine (MRRSE) has included a new report in its repository titled ‘Intra-Aortic Balloon Pump Market: Global Industry Analysis (2012-2016) and Forecast (2017-2027)’.
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Global Market Forecast
As per the report, the global intra-aortic balloon pump market is slated to exhibit a CAGR of 2.7% during the assessment period of 2017 to 2027. The global market for intra-aortic balloon pump is estimated to be valued at US$ 361 Mn in the year 2017 and is poised to touch a value of nearly US$ 472 Mn by the end of 2027.
Market Taxonomy
As per the market taxonomy of the global intra-aortic balloon pump market, this market is segmented into product type (Intra – Aortic Balloon Pump (IABP) Console, Intra – Aortic Balloon Pump (IABP) Catheters, Introducer Tray), indication (Coronary Artery Diseases, (Unstable Angina, Myocardial Infarction (NSTEMI), Chronic Heart Failure) and end user (Hospitals, Ambulatory Surgical Centers, Independent Catherization Labs). Due to the increased government expenditure on healthcare in North America, increased spending is expected in the area of cardiac procedures and consequently the market for intra-aortic balloon pump is likely to get a boost. As per data provided by the Center for Medicare and Medicaid Services, the overall healthcare expenditure in North America is set to increase by an average of 4.6% per year during the period 2016-2019. Also, due to the Affordable Care Act, healthcare spending is likely to spike. As a result of this trend, the United States is likely to become a lucrative market for medical devices, including intra-aortic balloon pumps.
Regional Forecast
North America led the global intra-aortic balloon pump market in terms of revenue in the year 2016 and this trend is expected to continue through the forecast period. North America is likely to be the most attractive region for this market, with a market attractiveness index of 2.0. Europe is forecasted to be the second largest market for intra-aortic balloon pumps, with a market attractiveness index of 1.4. Asia Pacific is forecasted to be the third largest market, with a market attractiveness index of 0.9.
Competition Landscape
Some of the leading companies operating in the global intra-aortic balloon pump market have been profiled in the competition landscape section in this report. Some of the companies featured in this report are Insightra Medical, Inc., InterValve Inc., SENKO MEDICAL INSTRUMENT Mfg. CO., LTD., Tokai Medical Products Inc., Zeon Corporation, MAQUET Holding B.V. & Co. KG. (Getinge Group) and Teleflex Corporation.
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