Global Angioplasty Balloons Market: By Product Type (Normal Balloons, Cutting Balloons, Drug Eluting Balloons, Scoring Balloons), Application (Coronary Artery Disease, Peripheral Artery Disease), End User (Hospitals, Cardiac Catheterization Laboratories, Ambulatory Surgical Centers, Others) and Region (Americas, Europe, Asia-Pacific, Middle East & Africa) – Forecast to 2027
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According to MRFR analysis, the Global Angioplasty Balloons Market is expected to register a CAGR of 5.01% from 2020 to 2027 and hold a value of USD 3457.35 Million till 2027.
The Global Angioplasty Balloons Market is driven by several factors, such as technological advancements in balloons, increasing preference for minimally invasive procedures, surging prevalence of cardiac diseases, rising initiatives by public and private organizations to create awareness regarding angioplasty treatment options, increasing product launches and a number of clinical trials by the prominent players in the market. For instance, the European Atherosclerosis Society (EAS) creates awareness related to new developments and innovations to prevent atherosclerosis.
Some of the key players in the global angioplasty balloons market are B. Braun Melsungen AG (Germany), Abbott (US), Biotronik SE & Co. KG (Germany), C.R. Bard (BD) (US), Boston Scientific Corporation (US), Cook (US), Medtronic (Ireland), Koninklijke Philips N.V. (Netherlands), Terumo Medical Corporation (Japan), Cordis (Cardinal Health) (US), and Endocor (Germany).
The global angioplasty balloons market has been segmented based on product type, application, and end user.
The market, based on product type, has been segmented into normal balloons, cutting balloons, drug eluting balloons, and scoring balloons. The market, based on normal balloons, held a major share in 2018 owing to the widespread use and high preference rate. The drug eluting balloons segment is expected to be the fastest-growing segment during the forecast period due to the continued innovations by players.
The market, based on application, has been segmented into coronary artery disease and peripheral artery disease. The coronary artery disease segment held the largest share in 2019 owing to the increased cardiac cases across the globe, whereas the peripheral artery segment is anticipated to be the fastest-growing segment due to the increasing strategic initiatives by key players in this segment by prominent players.
The global angioplasty balloons market has been segmented, based on end user, into hospitals, cardiac catheterization laboratories, ambulatory surgical centers, and others. The hospitals segment held the majority share of the market in 2019 owing to the increasing number of patient admissions due to cardiac diseases, whereas the cardiac catheterization laboratories segment is projected to be the fastest-growing segment during the study period owing to the increasing preference of these labs by medical professionals.
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