Dublin, Sept. 07, 2021 (GLOBE NEWSWIRE) -- The "Balloon Catheters Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
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.
In June 2021, Neurescue, a medical device firm developing advanced and innovative cardiovascular solutions, announced that the United States Food and Drug Administration had granted clearance to market and commercialize the company's NEURESCUE device and product for temporary occlusion of big and large vessels. The company had stated that the novel device had been the world's first and novel intelligent balloon catheter for aortic occlusion. This development is expected to enhance the company's market share in the coming period.
In June 2021, Cardiovascular Systems, one of the key players in the market, announced the launch of a novel OrbusNeich Jade percutaneous transluminal angioplasty over the wire balloon catheter in the United States. The company had stated that their novel device would be used for peripheral vasculature, which also included synthetic arteriovenous dialysis fistulae and obstructed native arteries.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Balloon Catheters Market Analysis, By Balloon Type
5.2. High-pressure Balloons
5.3. Elastomeric Balloons
6. Global Balloon Catheters Market Analysis, By Catheter Type
6.2. Rapid Exchange Balloon Catheters
6.3. Over-the Wire Balloon Catheters
6.4. Fixed-Wire Balloon Catheters
7. Global Balloon Catheters Market Analysis, By Applications
7.3. Stent Delivery
7.4. Esophageal Dilation
8. Global Balloon Catheters Market Analysis, By Geography
8.2. North America
8.2.1. United States
8.3. South America
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Boston Scientific
10.3. Nordson Corporation
10.5. Teleflex Medical
10.6. AV Medical
10.7. B. Braun
10.8. Simeks Tibbi Urunler
10.9. Terumo Europe NV
10.10. Sara Healthcare
For more information about this report visit https://www.researchandmarkets.com/r/pbtajn
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