The global balloon catheters market is expected to grow at a compound annual growth rate of 6.13% over the forecast period to reach a market size of US$5.144 billion in 2026, from US$3.392 billion in 2019.
A balloon catheter is a device with a balloon at the tip that may be inflated or deflated while the catheter is in place to create, enlarge, or occlude a passageway. These are used in surgical interventions with maximum use in coronary artery diseases and stent deployment. Increasing incidences of cardiac diseases, a growing geriatric population, favorable reimbursement policies, and technological advancements are some of the major factors augmenting the balloon catheter market growth. Geographically, North America holds a significant market share owing to the afflicting of cardiovascular diseases among people and favorable FDA policies, while Japan and India are emerging as potential markets in the Asia-Pacific region. Europe is also expected to have a major share in the market due to the rise in urinary tract infections, increasing geriatric population, and rising cardiovascular concerns.
Major companies have been making significant developments in the market, in the past few years. With the rise in innovation, advancement, and the adoption of novel solutions for the cardiovascular, growing geriatric population, the demand for balloon catheters is expected to surge.
An increasing rate of cardiovascular diseases.
The market is expected to surge in the coming years, due to the rising cases of cardiovascular diseases, worldwide. Cardiovascular diseases are a major cause of death, worldwide. According to the World Health Organisation, an estimated number of 17.9 million people had died from cardiovascular diseases in the year 2019. Around 85% of these deaths were attributed to stroke and heart attack. An estimated 1.13 billion people, globally, have been suffering from hypertension, which has become a major cause of brain, heart, kidney, and other related problems. Balloon catheters are used to address several types of cardiovascular problems. Cardiac catheterization is known as an imaging procedure that allows a doctor or a surgeon to evaluate a patient’s heart function. An interventional procedure is widely required to open narrow arteries, to enhance the flow to the heart. Balloon catheters are getting traction, as a source for these types of procedures. Some of the common applications of balloon catheters are stent delivery, angioplasty, and other related applications. These trends are expected to play a major role in the overall market growth, in the coming years.
Increasing geriatric population.
The market is expected to surge in the coming years, due to the rise in the geriatric population, globally. According to the data given in the United Nations report, there were approx. 703 million people, that were aged 65 years or over in 2019. The UN report also stated that the number of older people, globally, is expected to double to approx. 1.5 million in the year 2050. An aging population is expected to put significant financial pressure on old-age support systems. During aging, a certain number of factors which include, automatic dysregulation, arterial stiffness, blood-brain barrier, and neurovascular uncoupling are expected to define the dynamics of local perfusion and brain blood flow. Moreover, there is also expected to be a rise in certain cardiovascular diseases in aging people. In the current market, there has been a rise in the trend of transcatheter aortic valve replacement, and balloon aortic valvuloplasty. Moreover, the prevalence rate of the urinary tract is higher in older people. People that have been suffering from long-term urinary retention, include those with multiple sclerosis, spinal cord injury, cerebrovascular accident, and enlarged prostate. In older adults, there has been a widespread need for long-term, innovative, and advanced catheters, to enhance the overall quality of life and effective catheter management. Balloon catheters are widely expected to be used in the older population, which would have a positive impact on the market.
Major companies have been making a significant impact in the market, in the past few years.
|Market size value in 2019||US$3.392 billion|
|Market size value in 2026||US$5.144 billion|
|Growth Rate||CAGR of 6.13% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Balloon Type, Catheter Type, Applications, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Boston Scientific, Biomerics, Nordson Corporation, Medtronic, Teleflex Medical, AV Medical, B. Braun, Simeks Tibbi Urunler, Terumo Europe NV, Sara Healthcare|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global balloon catheters market?
A1. Balloon Catheters Market was valued at US$3.392 billion in the year 2019.
Q2. What will be the balloon catheters market size by 2026?
A2. The global balloon catheters market is expected to reach a market size of US$5.144 billion by 2026.
Q3. What are the growth prospects for the balloon catheters market?
A3. The balloon catheters market is expected to grow at a CAGR of 6.13% during the forecast period.
Q4. What factors are anticipated to drive the balloon catheters market growth?
A4. Increasing incidences of cardiac diseases, a growing geriatric population, favorable reimbursement policies, and technological advancements are some of the major factors augmenting the balloon catheter market growth.
Q5. Which region holds the maximum share of the balloon catheters market?
A5. Geographically, North America holds a significant share of the balloon catheters market owing to the afflicting of cardiovascular diseases among people and favorable FDA policies.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Function
4.4. Function Value Chain Analysis
5. Global Vascular Closure Devices (VCDs) Market Analysis, By Access
5.2. Femoral Access
5.3. Radial Access
6. Global Vascular Closure Devices (VCDs) Market Analysis, By Type
6.2. Passive Vascular Closure Devices
6.3. Active Vascular Closure Devices
7. Global Vascular Closure Devices (VCDs) Market Analysis, By End-Users
7.2. Hospitals & Clinics
7.3. Ambulatory Surgical Centers
8. Global Vascular Closure Devices (VCDs) Market Analysis, By Procedure
8.2. Interventional Cardiology
8.3. Interventional Radiology/Vascular Surgery
9. Global Vascular Closure Devices (VCDs) Market Analysis, By Geography
9.2. North America
9.2.1. United States
9.3. South America
9.5. Middle East and Africa
9.5.2. Saudi Arabia
9.6. Asia Pacific
9.6.5. South Korea
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles.
11.6. Cardiva Medical, Inc.
11.7. Vasorum Ltd
11.8. Biotronik GMBH & CO.KG
11.9. Boston Scientific Corporation
11.10. TZ Medical, Inc
Simeks Tibbi Urunler
Terumo Europe NV
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