Global Angioplasty Balloons Market (2021 to 2026) - Growth, Trends, COVID-19 Impact and Forecasts - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Angioplasty Balloons Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Angioplasty Balloons market was valued at about USD 2,550 million in 2020 and is expected to reach USD 2,975 million in 2026, registering a CAGR of nearly 3.5% during the forecast period.

Companies Mentioned

• Abbott Laboratories
• AngioDynamics
• Becton Dickinson
• Medtronic Plc
• Boston Scientific Corporation
• Braun Melsungen AG
• Cook Medical
• Cordis (Cardinal Health)
• Endocor GmbH
• INFINITY Angioplasty Balloon
• Johnson & Johnson
• Koninklijke Philips N.V.

Key Market Trends

Hospitals Segment is Expected to Dominate the Angioplasty Balloons Market

The hospital segment is expected to hold a major share of the overall angioplasty balloons market. The factors responsible for the dominance of this segment are advanced healthcare infrastructure, increasing availability of skilled labor, and affordability. For instance, in 2018, as per the report published by Advanced Medical Technology Association (AdvaMed), India, the government's move to cap the maximum price of various cardiovascular surgical instrument has resulted in reduced angioplasty procedure costs in tier 1 and metro corporate chains and standalone private hospitals up to 18%, in India which is one of the major hubs of cardiovascular disease. In addition, owing to substantial growth in the geriatric population suffering from lifestyle diseases, such as atherosclerosis and heart failure, is expected to increase the patient pool and enhance revenue generations of the hospitals.

Moreover, compared to conventional surgeries, the several advantages of minimally invasive surgeries such as reduced surgical pain, injury, scarring, hospital stay, higher accuracy, and speedy recovery time are encouraging more patients to opt for minimally invasive balloon angioplasty surgeries. As per the data reported by the American College of Cardiology, approximately 1.2 million angioplasties a year in the United States. Moreover, the high accessibility and affordability of hospitals, as compared to the specialty clinics, are expected to attract a large patient population.

However, due to the current COVID-19 situation, limited movement of the population in the hospital is observed. Unless and until it is not emergent the population is avoiding undergoing any kind of surgery or diagnostic procedures to limit the risk of the infection In addition, hospitals have also transferred their personnel availability from cardiac departments to other departments in need such as ED or intensive care units (ICU). All these factors are expected to affect the market growth, but this slowed down in growth is anticipated to be temporary, and in the long run, the market is forecasted to have significant growth.

The graph below suggested that the prevalence of cardiovascular disease s continuously surging in the developed regions such as North America owing to the change in lifestyle habits and the high burden of obesity among the population. This surge in the disease prevalence is expected to boost the demand for the angioplasty balloon market.

North America is the Largest Market for Angioplasty Balloons Market

North America accounted for the maximum revenue share in the angioplasty balloons market. The presence of key industry players, the rising healthcare expenditure, and a growing number of percutaneous coronary interventions are the primary drivers of the region. According to the American Heart Association Research Report 2018, heart disease accounted for 1 in 7 deaths in the United States in that year. Among the cardiovascular diseases, coronary heart disease was the leading cause of deaths, attributing to 43.8% of deaths, followed by stroke (16.8%), heart failure (9.0%), high blood pressure (9.4%), diseases of the arteries (3.1 %), and other cardiovascular diseases (17.9%) in the United States. Thus, there exists a higher demand for better treatment with advanced medical devices, which acts as a major factor driving the studied market.

In addition, increased investments and the inorganic growth strategies by major market players in the region are the factors estimated to augment the market during the forecast years. For instance, in 2018, Teleflex, a United States-based company signed an agreement to acquire the assets of QT Vascular. Under the agreement, Teleflex paid USD 98.4 million and USD 26.2 million for the non-drug coated coronary products, USD 65.6 million for the drug-coated coronary product, and up to an additional USD 6.6 million upon the achievement of certain sales revenue milestones. All these developments are further expected to increase the robust product line of the market and are anticipated to offer lucrative growth opportunities to the region.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increasing Burden of Cardiovascular Diseases

4.2.2 Increasing Preference for Minimally Invasive Procedures and Technological Advancements

4.3 Market Restraints

4.3.1 High Costs Associated with the Procedure

4.3.2 Complications Associated with Angioplasty Procedures

4.4 Porter's Five Force Analysis

5 MARKET SEGMENTATION

5.1 By Product Type

5.2 By Application

5.3 By End User

5.4 Geography

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/nz42vs.

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900