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Balloon Catheter Market

Balloon Catheter Market by Product (Normal Balloon Catheter, Cutting Balloon Catheter, Scoring Balloon Catheter, Drug Eluting Balloon Catheter, Stent Graft Balloon Catheter), Disease Indication (Coronary Artery Disease, Peripheral Vascular Disease), Raw Material (Polyurethane, Nylon, Others), End User & Region for 2021-2031

Balloon Catheter Market by Product (Normal Balloon Catheter, Cutting Balloon Catheter, Scoring Balloon Catheter, Drug Eluting Balloon Catheter, Stent Graft Balloon Catheter), Disease Indication (Coronary Artery Disease, Peripheral Vascular Disease), Raw Material (Polyurethane, Nylon, Others), End User & Region for 2021-2031

Balloon Catheter Market - Analysis, Outlook, Growth, Trends, Forecasts

Balloon Catheter Market Outlook 2021-2031

[263 Pages Report] The global Balloon Catheter Market is expected to reach US$ 5.11 Bn, registering a CAGR of 4.0% over the forecast period (2021-2031). Balloon catheter market is expected to contribute nearly 5.9% of the global catheter market topping US$ 55.99 Bn by the end of 2031.

Market Value 2020

US$ 3.33 Bn

Market Value 2021

US$ 3.55 Bn

Market Value 2031

US$ 5.11 Bn

CAGR 2021-2031

4.0%

Share of Top 5 Countries

57.3%

Demand for balloon catheters is expected to increase owing to rising prevalence of coronary artery diseases across the globe. Balloon catheters are used to treat various types of cardiovascular issues, includinhg cardiac catheterization as a diagnostic imaging procedure to assess a patient's heart function.

To improve blood flow to the heart, interventional procedures are commonly used to widen narrow arteries. As a source for these treatments, balloon catheters are gaining immense traction.  On account of this, the market is projected to witness significant growth over the forecast period.

Transcatheter aortic valve replacement and balloon aortic valvuloplasty are becoming more popular among geriartric population. Prevalence of urinary tract infections is higher among the elderly. Hence, balloon catheters are predicted to be widely employed in the elderly population, which will boost the market.

2016-2020 Balloon Catheter Demand Outlook Compared to 2021-2031 Forecast

According to Future Market Insights (FMI), the sales of balloon catheter grew at a CAGR of nearly 2.9% between 2016 and 2020. With changing lifestyle habits, smoking, pollution, and rising stress levels are major factors boosting the prevalence of cardiovascular diseases worldwide.

Patients with coronary artery diseases (CAD) are required to undergo stenting due to blockages in their arteries. Balloon catheters act as the means to ensure that the stent is lodged in at the target site accurately.

This has increased stenting rate dramatically as it is a much preferred method of treatment over coronary artery bypass graft (CABG).

Furthermore, manufacturers are opting for strategies such as new product launches, mergers & acquisitions and collaborations. They are also expanding product portfolios to gain competitive edge in the market. For instance:

In 2020, Boston Scientific Corporation launched the brand new imaging catheter for peripheral imaging known as Opticross 35. This product enhances the depth and variety of the company's already vast product portfolio with adding a greater IVUS depth and a 360 degree clear image quality.

The market is consolidated and is dominated by players such as Boston Scientific Inc., Medtronic, Terumo Corporation, B. Braun Melsungen AG, MicroPort Scientific Corporation, and Jotech GmbH, opines FMI.

Future Market Insights expects the global market of balloon catheter  to grow at a CAGR of 4.0% by the end of 2031. Growth in the market is also attributable to the extensive research and development initiatives which is assisting in actualizing different innovative technologies.

How will Advancements in Interventional Cardiology Fuel Demand for Balloon Catheter?

Interventional cardiology has played a crucial role in coronary artery disease treatment. Patients suffering from coronary artery disease opt for cardio interventional treatment due to its less complex nature compared to other treatment solutions.

On account of such attibutes, interventional cardiology is acquiring immense popularity, encouraging the use of advanced balloon catheters such as drug eluting balloon catheters.

Cardiac interventions are minimally invasive and have less complications compared to other type of procedures. Hence, due to the ease in convenience and comfort, patients are opting for these procedures. This is expected to boost the balloon catheter market.

What are the Key Opportunities for Market Players?

Shifting of device manufacturing plants to low-cost economies such as India, China, and ASEAN countries due to expanding patient pool is creating growth opportunities for manufacturers. Rising prevalence of CAD and increase in angioplasty patients is increasing the demand for balloon catheters.

This has created opportunity for the key players to capiralize on surging demand by expanding their in-house production capacity. Companies are also aiming to expand their market share by acquiring the local manufacturers.

For instance, in February 2021, Terumo Corporation acquired all assets of Health Outcomes Science Inc. This step will ensure improvement in patient outcome with the help of personalized predictive analytics and clinical decisions. Predictive analytic might also be beneficial in improving detection statistics for coronary artery diseases and other complications associated with it.

Country-wise Insights

Will the U.S. Remain Lucrative Pocket in Balloon Catheter Market?

In 2021, the U.S. is estimated to account for over 89.0% of the North America market. Demand for balloon catheters will be on the rise due to presence of leading manufacturers, increased patient awareness, availability of advanced health care facilities and infrastructure, and technological advancements.

To improve the existing products in order to get better results, some of the leading players in the U.S. are focusing on novel product launches. They are also investing extensively in research and development activities to develop advanced balloon catheters devices.

Why is the U.K. Considered Most Remunerative Ballon Catheter Market in Europe?

The U.K. is expected to account for nearly 20.2% of the market in Europe by 2031. Growth in the region is underpiined by growing aging population, efficient health care infrastructure, and an emphasis on the development of innovative technology as well as enhanced patient diagnosis.

Furthermore, the country reports a high number of hospital admissions due to heart attacks. This eventually is expected to lead to an increase in angioplasty procedures, further boosting the market for balloon catheters.

What Are The Factors Supporting Balloon Catheters Sales in China?

The China ballon catheter market is expected to grow at around 4.6% CAGR during the forecast period. High prevalence of coronary artery disease, coupled with increasing demand for cardiac interventions is facilitating the growth in the country.

To capitalize on increasing demand, balloon catheter manufacturers are eyeing the China market for untapped potential to boost their sales.

How will Sales of Balloon Catheters Surge in India?

Recording the highest CAGR of 5.8%, India is set to be the hub for balloon catheters market, finds FMI. India is expected to dominate the South Asia balloon catheter market, accounting for 57.5% of market share in 2021.

Growing incidence of non-communicable diseases, improving healthcare infrastructuire and services are expected to create conducive environment for balloon catheters market.

Additonally, presence of skilled interventional cardiologists and other personnel are boosting the medical tourism in the country, creating growth opportunities for balloon catheter market players in India.

Category-wise Insights

Why are Normal Balloon Catheters Gaining Traction?

By product, the normal balloon catheters segment contributs for highest market share of 43.9% in 2021. Growth in the segment is attributable to growing preference for basic and low stenting procedures.

Hence, demand for normal balloon catheters is increasing and the trend is likely to continue over the forecast period.

Will Growing Prevalence of Coronary Artery Disease Boost Balloon Catheters Market?

By indication, coronary artery disease is anticipated to account for nearly 71.5% market share in terms of value. High prevalence of coronary artery diseases across the globe is increasing the demand for balloon catheters.

Why is Nylon Highly Sought-Aftter Raw Material for Balloon Catheters?

By raw material, the nylon segment is expected to hold lion’s share in the global balloon catheter market.  The segment is poised to expand at 4% CAGR, contributing over 46.3% of sales in 2021.

As nylon is softer, easier to refold, and can be easily inserted into the guiding catheter or introducer sheath, this raw material is most preferred for balloon catheters.

As per FMI, the polyurethane segment is expected to hold second-largest share, accounting for nearly 34% of market share in 2021.

Competitive Landscape

Prominent players operating in balloon catheter market are focusing on expansion of their product portfolio by introducing novel product launches. They are also opting for inorganic expansion strategies such as mergers and acquisitions.

For instance,

  • Medtronic PLC, in July 2021 introduced a novel type of catheter into their large arsenal, a balloon catheter which can elute drugs at the target site. This product introduced into the European market for CAD by the name of Prevail Drug Coated Balloon, improves the pushability of the catheter as well as its deliverability into the complex anatomies. The drug on the balloon gets absorbed into the target arterial tissue and tries to decrease the chances of in-stent restenosis.

Scope of the Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value.

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, South Africa

Key Segments Covered

Product, Raw Material, Indication, End User and Region

Key Companies Profiled

  • Boston Scientific Inc.
  • Medtronic
  • Terumo Corporation
  • B. Braun Melsungen AG
  • MicroPort Scientific Corporation
  • Jotech GmbH
  • QX Medical LLC
  • Meril Life Pvt. Ltd
  • Hexacath
  • Abbott Laboratories
  • Tokai Medical Products Inc
  • Biosensors International Ltd.
  • Cook Medical Inc.
  • Cardionovum GmbH.
  • Cordis Corporation
  • Biotronik
  • Nitinol Device & Components Inc.

Report Coverage

Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives

Customization & Pricing

Available upon Request

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Balloon Catheter by Category

By Product:

  • Normal Balloon Catheter
  • Cutting Balloon Catheter
  • Scoring Balloon Catheter
  • Drug Eluting Balloon Catheter
  • Stent Graft Balloon Catheter

By Raw Material:

  • Polyurethane
  • Nylon
  • Others

By Indication:

  • Coronary Artery Disease
  • Peripheral Vascular Disease

By End User:

  • Hospitals
    • Private Hospitals
    • Public Hospitals
  • Ambulatory Surgical Centers
  • Cardiac Catheterization Laboratories

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa (MEA)

Key Questions Answered in the Report

What is the demand outlook for the global balloon catheter market?

The global market of balloon catheter is projected to reflect high demand, exhinbiting growth at a CAGR of 4.0% owing to increase in prevalence of coronary artery disease across the globe.
FMI estimates, regionally, North America is expected to hold 31.7% of the global market share, with the U.S. spearheading the growth in the region, surpassing US$ 1.09 Bn in 2021.
Increasing non-communicable diseases, growing prevalence of coronary artery diseases (CAD), surging number of patient undergoing stenting, and extensive research and development activities for multipurpose balloon catheters are the major factors driving the demand for balloon catheters across the globe.
South Korea balloon catheter market is expected to register 2.5% CAGR, while Japan market is expected to exhibit growth at 3.9% CAGR during the forecast period.
The U.S., Japan, China, the U.K and Germany are identified as the top 5 countries in the global balloon catheter market.
Leading companies in balloon catheter market are Boston Scientific Inc., Medtronic, Terumo Corporation, B. Braun Melsungen AG, MicroPort Scientific Corporation, Jotech GmbH, QX Medical LLC, Meril Life Pvt. Ltd, Hexacath, Abbott Laboratories, Tokai Medical Products Inc, Biosensors International Ltd., Cook Medical Inc., Cardionovum GmbH., Cordis Corporation, and Biotronik.

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