The global balloon catheter market is projected to experience significant growth in the coming years, with a compound annual growth rate (CAGR) of 4.3% anticipated between 2023 and 2033. This growth is expected to propel the market value from an estimated US$ 4.2 billion in 2023 to US$ 6.4 billion by 2033.
Key players in the market are actively developing innovative balloon catheter technologies that offer exceptional performance, particularly in challenging procedures. This focus on advanced technology includes features like:
- Exceptional TrakTipTM design: This design, achieved through a unique laser-bonded method, ensures precise and smooth bonding along the shaft for optimal control and maneuverability.
- Occlusion balloon catheters: These catheters are specifically designed to minimize the movement of stone fragments during Percutaneous Nephrolithotomy (PCNL) procedures, improving patient safety and treatment efficacy.
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One such example of an innovative product is the Mustang catheter, developed by a leading market player. Mustang boasts reduced sheath diameters, which translates to improved patient comfort and faster procedure times. Additionally, the catheter features superior cross and track, forceful dilatation capabilities, and longer lengths, further enhancing its effectiveness.
Beyond these advancements, the market offers a variety of balloon catheter solutions to address diverse clinical needs:
- Balloon dilatation catheters for radial dilatation of the urinary tract: These catheters are designed to ease strictures and allow for the placement of larger surgical instruments, facilitating minimally invasive procedures.
- PTA quick exchange balloon dilatation catheters: These catheters cater to the need for accessing and treating lesions in small veins, particularly below the knee, offering a convenient and efficient solution for interventional procedures.
The anticipated growth of the balloon catheter market underscores the increasing demand for minimally invasive procedures and the continuous advancements in medical technology. These advancements are not only driving market expansion but also contributing to improved patient outcomes and minimally invasive treatment options.
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Key Takeaways from the Balloon Catheter Market:
- From 2023 to 2033, the United Kingdom market is likely to accelerate at a CAGR of 8% and reach a value of US$ 273.4 million in 2033.
- Germany market is also anticipated to expand at 7% CAGR and reach US$ 244.3 million in 2033.
- The global balloon catheter market is expected to register 4.3% CAGR between 2023 and 2033.
- A value of US$ 6.4 billion is estimated for the global balloon catheter market in the year 2033.
- The global balloon catheter market is poised to reach a valuation of US$ 4.2 billion in 2023.
- Rising prevalence of peripheral artery disease (PAD) is slated to fuel the need for balloon catheters in Europe.
“As peripheral artery disease is on rise in Europe, balloon catheter adoption is expected to skyrocket in the coming years. Key players are focusing on developing catheters that improve treatment outcomes.”– Says an FMI Analyst.
Competition Landscape in the Balloon Catheter Market:
To set themselves apart from their rivals in the industry and boost sales in the global balloon catheter market, manufacturing companies are concentrating on merger and acquisition strategies.
- 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
Recent Developments:
- In October 2022, Biosense Webster, Inc., a Johnson & Johnson subsidy of medical technologies, revealed its European debut of a HELIOSTAR balloon catheter, the first radiofrequency balloon ablation catheter. It can be utilised for cardiac ablation when coupled with a suitable cross RF generator and catheter-based heart electrophysiological imaging of the atria.
- In July 2021, PrevailTM drug coated balloon (DCB) catheters were introduced in Europe under the CE (Conformité Européenne) standard by Medtronic plc, a leading company in medical technology. The Prevail DCB is used in percutaneous coronary intervention (PCI) treatments to treat blocked or restricted blood vessels in people with cardiovascular disease.
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Key Segments Profiled in the Balloon Catheter Market Survey
By Product Type:
- Normal
- Cutting
- Scoring
- Drug Eluting
- Others
By Raw Material:
- Polyurethane
- Nylon
- Others
By Indication:
- Coronary Artery Disease
- Peripheral Vascular Disease
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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