The latest market report published by Credence Research, Inc. “Balloon Catheters Market – Growth, Future Prospects, Competitive Analysis, 2017 – 2025,” the global balloon catheters market was valued at US$ 2,989.0 Mn in 2016, and is expected to reach US$ 5,457.2 Mn by 2025 expanding at a CAGR of 6.78 % from 2017 to 2025.
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The balloon ends of the balloon catheters is very important aspect as it might cause trauma to the vascular endothelial tissues during inflation and hence rounded balloons are preferred more in comparison to other shapes. Two types of balloons are used for surgical procedures, first is the high pressure non elastic balloons and the second is low pressure elastic balloons. These balloons are categorized as non-compliant, semi compliant and high compliant on the basis of the change of balloon diameter as a function of pressure. Type of balloon coatings are anti-thrombogenic coatings, abrasion resistant coatings, and lubricious coatings.
In the products segment drug eluting balloon catheters are preferred as it restores normal blood flow and causes less vessel fracture in comparison to other catheters and vascular implants. Stent graft balloon catheters are useful for surgical procedures of thoracic aorta.
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Polyurethane is considered as the most desirable material for the manufacturing of balloon catheters due to the features it possess such as tensile strength, biocompatibility, and hemocompatibility. Other materials will seek excellent market growth as it consists of diverse materials such as polyethylene, terephthalate, and silicone which have good pressure ratings, coefficient of friction and radial force which minimizes vessel injury during insertion.
Increasing preference for angioplasty and affordable reimbursement scenario are responsible for North America to hold the largest market share in balloon catheters market. Baby boomer population suffering with heart disease and intense market competition due to existing and emerging manufacturers of balloon catheters will contribute to the growth of Asia Pacific during the forecast duration of 2015-2025.
The premier players featuring in the balloon catheters market are MicroPort Scientific Corporation JOTEC GmbH, B. Braun Melsungen AG, Cardionovum GmbH, Biosensors International Ltd., Biotronik, Inc., Abbott Laboratories, Inc., Cook Medical Inc., Cordis Corporation, Medtronic Plc, Terumo Corporation and Boston Scientific Corporation.
Key Market Movements:
- Increasing preference for minimally invasive surgical procedure
- Regulatory agencies are granting approval to balloon catheters without requirement of pre-market sale approval
- Supportive healthcare insurance policies for balloon catheters in developed countries
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