Balloon Catheter Market Size is expected to reach US$ 5.11 Bn, registering a CAGR of 4.0% over the forecast period (2021-2031). Balloon catheter market is expected to contribute nearly 5.9% of the global catheter market topping US$ 55.99 Bn by the end of 2031.

Demand for balloon catheters is expected to increase owing to rising prevalence of coronary artery diseases across the globe. Balloon catheters are used to treat various types of cardiovascular issues, includinhg cardiac catheterization as a diagnostic imaging procedure to assess a patient's heart function.

H1-2022 outlook period in comparison to H1-2022 projected period showed a negative growth in terms of Basis Point Share by 20 BPS. However, In H1-2022, the market growth rate of balloon catheters is expected to fall by 19 basis point share (BPS), as per FMI analysis

The market decline observed through the reduction in the BPS values is addressed by the high cost of balloon catheters, limitations to patent rights for established products, and lack of reimbursement plans for several catheter associated procedures.

The key developments in the market include the launch of the newest-generation drug-coated balloon catheter 'Prevail™' for the treatment of coronary artery disease, by Medtronic. The market is highly influenced by the rising prevalence of chronic diseases and lifestyle associated diseases.

2016-2020 Balloon Catheter Demand Outlook Compared to 2021-2031 Forecast

According to Future Market Insights (FMI), the sales of balloon catheter grew at a CAGR of nearly 2.9% between 2016 and 2020. With changing lifestyle habits, smoking, pollution, and rising stress levels are major factors boosting the prevalence of cardiovascular diseases worldwide.

In 2020, Boston Scientific Corporation launched the brand new imaging catheter for peripheral imaging known as Opticross 35. This product enhances the depth and variety of the company's already vast product portfolio with adding a greater IVUS depth and a 360 degree clear image quality.

The market is consolidated and is dominated by players such as Boston Scientific Inc., Medtronic, Terumo Corporation, B. Braun Melsungen AG, MicroPort Scientific Corporation, and Jotech GmbH, opines FMI.

Future Market Insights expects the global market of balloon catheter to grow at a CAGR of 4.0% by the end of 2031. Growth in the market is also attributable to the extensive research and development initiatives which is assisting in actualizing different innovative technologies.

How will Advancements in Interventional Cardiology Fuel Demand for Balloon Catheter?

Interventional cardiology has played a crucial role in coronary artery disease treatment. Patients suffering from coronary artery disease opt for cardio interventional treatment due to its less complex nature compared to other treatment solutions.

Cardiac interventions are minimally invasive and have less complications compared to other type of procedures. Hence, due to the ease in convenience and comfort, patients are opting for these procedures. This is expected to boost the balloon catheter market.

What are the Key Opportunities for Market Players?

Shifting of device manufacturing plants to low-cost economies such as India, China, and ASEAN countries due to expanding patient pool is creating growth opportunities for manufacturers. Rising prevalence of CAD and increase in angioplasty patients is increasing the demand for balloon catheters.

For instance, in February 2021, Terumo Corporation acquired all assets of Health Outcomes Science Inc. This step will ensure improvement in patient outcome with the help of personalized predictive analytics and clinical decisions. Predictive analytic might also be beneficial in improving detection statistics for coronary artery diseases and other complications associated with it.

Country-wise Insights

Will the U.S. Remain Lucrative Pocket in Balloon Catheter Market?

In 2021, the U.S. is estimated to account for over 89.0% of the North America market. Demand for balloon catheters will be on the rise due to presence of leading manufacturers, increased patient awareness, availability of advanced health care facilities and infrastructure, and technological advancements.

To improve the existing products in order to get better results, some of the leading players in the U.S. are focusing on novel product launches. They are also investing extensively in research and development activities to develop advanced balloon catheters devices.

Why is the U.K. Considered Most Remunerative Ballon Catheter Market in Europe?

The U.K. is expected to account for nearly 20.2% of the market in Europe by 2031. Growth in the region is underpiined by growing aging population, efficient health care infrastructure, and an emphasis on the development of innovative technology as well as enhanced patient diagnosis.

Furthermore, the country reports a high number of hospital admissions due to heart attacks. This eventually is expected to lead to an increase in angioplasty procedures, further boosting the market for balloon catheters.

What Are The Factors Supporting Balloon Catheters Sales in China?

The China ballon catheter market is expected to grow at around 4.6% CAGR during the forecast period. High prevalence of coronary artery disease, coupled with increasing demand for cardiac interventions is facilitating the growth in the country.

To capitalize on increasing demand, balloon catheter manufacturers are eyeing the China market for untapped potential to boost their sales.

How will Sales of Balloon Catheters Surge in India?

Recording the highest CAGR of 5.8%, India is set to be the hub for balloon catheters market, finds FMI. India is expected to dominate the South Asia balloon catheter market, accounting for 57.5% of market share in 2021.

Additonally, presence of skilled interventional cardiologists and other personnel are boosting the medical tourism in the country, creating growth opportunities for balloon catheter market players in India.

Category-wise Insights

Why are Normal Balloon Catheters Gaining Traction?

By product, the normal balloon catheters segment contributs for highest market share of 43.9% in 2021. Growth in the segment is attributable to growing preference for basic and low stenting procedures.

Hence, demand for normal balloon catheters is increasing and the trend is likely to continue over the forecast period.

Will Growing Prevalence of Coronary Artery Disease Boost Balloon Catheters Market?

By indication, coronary artery disease is anticipated to account for nearly 71.5% market share in terms of value. High prevalence of coronary artery diseases across the globe is increasing the demand for balloon catheters.

As per FMI, the polyurethane segment is expected to hold second-largest share, accounting for nearly 34% of market share in 2021.

Key Companies Profiled:

Boston Scientific Inc.
Medtronic
Terumo Corporation
Braun Melsungen AG
MicroPort Scientific Corporation
Jotech GmbH
QX Medical LLC
Competitive Landscape

Prominent players operating in balloon catheter market are focusing on expansion of their product portfolio by introducing novel product launches. They are also opting for inorganic expansion strategies such as mergers and acquisitions.

For instance,

Medtronic PLC, in July 2021 introduced a novel type of catheter into their large arsenal, a balloon catheter which can elute drugs at the target site. This product introduced into the European market for CAD by the name of Prevail Drug Coated Balloon, improves the pushability of the catheter as well as its deliverability into the complex anatomies. The drug on the balloon gets absorbed into the target arterial tissue and tries to decrease the chances of in-stent restenosis.
Information Source: https://www.futuremarketinsights.com/reports/balloon-catheter-market