The global angioplasty balloons market size is expected to reach USD 3.44 billion by 2030, according to a new study by Polaris Market Research. The report “Angioplasty Balloons Market Share, Size, Trends, Industry Analysis Report, By Product Type (Normal Balloons, Cutting/Scoring Balloons, Drug-Eluting Balloons), By Application; By End-User; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Advancements in imaging technology and the introduction of improved products are expected to fuel industry growth. The adoption of imaging and diagnostic technologies such as OCT (optical coherence tomography) and IVUS (intravascular ultrasound) has significantly improved the diagnostic techniques' use patterns.
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The development of AI-based technologies is designed to enhance real-time clinical decision-making, streamline workflow in the catheterization laboratory and standardize catheter-based procedures through advanced robotics. Medical robots are routinely used in cardiovascular medicine for minimally invasive cardiac surgery, with the Intuitive Surgical for mitral valve repair and coronary artery bypass grafting surgery.
Further, in June 2020, INFINITY Angioplasty Balloon's innovative balloon platform "INFINITY Angioplasty Balloon Catheter" was certified by the US FDA for the percutaneous transluminal angioplasty (PTA) treatments of peripheral artery disease. It's also approved for usage in peripheral arteries such as the iliac, femoral, lower abdomen, infra-popliteal arteries, and AV dialysis fistulas. Also, in June 2021, Cardiovascular Systems announced the availability of OrbusNeich JADE PTA over-the-wire catheters in the U.S. Thus, the growing adoption of technological advancements and advanced product launches drives the market growth.
Hospital's segment accounted for the largest revenue share in the market. Advanced healthcare infrastructure, rising number of trained labor, and affordability are the elements driving this segment's supremacy. Moreover, the rise in the old age population having impacted lifestyle projected to expand the desired patient pool and expected to boost the income for the concerned hospitals.
Market players such as AngioDynamics, Abbott Laboratories, B. Braun Melsungen AG., Becton Dickinson, BIOTRONIK Vertriebs GmbH & Co. KG, Biomerics, Boston Scientific Corporation, MicroPort Scientific Corporation, Cordis (Cardinal Health), Cardinal Health, CTK biotech, Inc, Hexacath, INFINITY Angioplasty Balloon, Koninklijke Philips N.V, JOTEC GmbH, Medtronic Plc, and Nipro Medical Corporation are some key players operating in the global market.
In January 2021, the U.S. Food and Drug Administration (FDA) approved OrbusNeich JADE 0.014", 0.018", and 0.035" OTW quasi peripheral balloon catheters. This cathjeter is the most over balloon invasive procedure for the percutaneous trans-luminal angioplasty of blocked native artery and artificial arteriovenous dialysis fistulae.
Polaris market research has segmented the angioplasty balloons market report based on product type, application, end-user, and region:
Angioplasty Balloons, Product Type Outlook (Revenue - USD Million, 2018 - 2030)
Angioplasty Balloons, Application Outlook (Revenue - USD Million, 2018 - 2030)
Angioplasty Balloons, End-User Outlook (Revenue - USD Million, 2018 - 2030)
Angioplasty Balloons, Regional Outlook (Revenue - USD Million, 2018 - 2030)