Angioplasty is a procedure is known as an alternative to heart surgery with the minimally intrusive process, where a stent is implanted in the blood vein. Generally, angioplasty balloons are used for the treatment of cardiac ailments by unblocking or broadening of a blood vessel, particularly coronary artery. The process involves the insertion of a small balloon into a contracting division of an artery where the balloon is exaggerated, resulting in the opening of the artery and increasing the blood flow. The need for angioplasty or other cardiovascular treatment is observed due to factors such as high cholesterol in a blood vessel, obesity, and poor diet. According to the World Health Organizations (WHO), cardiovascular ailments are the major cause of death followed by cancer. Cardiovascular diseases are the life-threatening illness in which the insufficient blood flow to artery may lead to cardiac arrest. Hence, a person experiencing such ailment should be treated with angioplasty process, which cleanses the blocked and narrow blood veins.
The global angioplasty balloon market is driven by increasing numbers of the patient suffering cardiovascular disorder. According to the Centers for Disease Control and Prevention (CDC) 2015, around 610,000 global individuals death cases were filed due to critical heart conditions, and approximately 8 million individuals were diagnosed with peripheral as well as coronary artery disease. Such high prevalence requiring cardiovascular care is anticipated to bolster the global angioplasty balloon market. Moreover, growing geriatric population, inactive lifestyle and growing stress level due to professional as well as personal issues have led to a swell in critical heart diseases boosting the global market growth. Furthermore, state-of-the-art healthcare infrastructure in developed countries such as U.S., U.K., Canada, technological advancement for the cardiovascular disease treatment and a high level of awareness among people regarding the various treatment options for cardiovascular disorders is affecting significantly the angioplasty balloons market in these regions. However, price clash due to increase in the number of market players is a major restraint hampering the market growth.
The global angioplasty balloon market is segmented on the basis of product, application, and end user.
On the basis of product, the global angioplasty balloon market is segmented into:
On the basis of application, the global angioplasty balloon market is segmented into:
On the basis of end user, the global angioplasty balloon market is segmented into:
Geographically, the global angioplasty balloon market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
On the basis of the geography, North America is expected to dominate the global angioplasty balloon market. According to world health organizations (WHO) 2014, the North America angioplasty balloon market is anticipated to share around 38% of the global market during upcoming years. Moreover, in 2014, approximately 3.4 million cardiovascular disease cases were filed in this region. Technological advancements and growing healthcare facilities are the major factors for the growth of the market in his region. In addition, new inventions in angioplasty catheters and balloons further propel the significant growth in North America.
In terms of geography, Europe is the second global leader in angioplasty balloon market owing to the presence of large geriatric population suffering cardiovascular diseases and high healthcare expenditures over this region. However, Asia Pacific region is anticipated to dominate and develop as the leading global consumer for angioplasty balloon during the forecast period. The decreasing costs of an angioplasty balloon in recent decade in China, India, and Japan significantly direct growth of the angioplasty balloon market in Asia-Pacific. Moreover, high patient pool requiring cardiovascular treatments further become the lucrative factor for the angioplasty balloon market growth in the Asia Pacific.