The global micro balloon catheter market is expected to witness steady growth in the coming years, driven by the rising prevalence of cardiovascular diseases and increased adoption of minimally invasive surgical procedures. The market, valued at US$ 286.7 million in 2022, is projected to reach US$ 295.8 million in 2023. Over the forecast period from 2023 to 2033, the market is anticipated to grow at a compound annual growth rate (CAGR) of 3.3%, reaching an estimated valuation of US$ 410.3 million by 2033, according to an analysis by Future Market Insights (FMI).
Micro balloon catheters are cutting-edge medical devices designed for the treatment of constricted or narrowed blood vessels. These devices consist of a guidewire and catheter that are inserted through the femoral artery in the leg or the radial artery in the arm. They are widely used in minimally invasive procedures to open blocked coronary arteries caused by coronary artery disease (CAD). With cardiovascular diseases remaining a leading cause of mortality worldwide, the demand for micro balloon catheters is set to grow as healthcare providers prioritize prevention and treatment measures for heart attack and angina.
The market is also benefiting from the rising investments in research and development (R&D) by government bodies and increased funding for the development of advanced catheterization techniques. The emergence of midscale catheter manufacturers with increased funding support is expected to further boost market growth, enabling the production of more affordable and innovative catheter solutions.
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Key Takeaways:
- The global micro balloon catheter market is expected to grow at a CAGR of 3.3%, reaching a market value of approximately US$ 410.3 million by 2033, up from US$ 295.8 million in 2023.
- The market saw consistent growth from 2022 to 2023, fueled by the rising demand for minimally invasive treatments for coronary artery disease (CAD) and other cardiovascular disorders.
- Micro balloon catheters play a critical role in opening blocked or narrowed arteries, helping prevent heart attacks and angina in patients with CAD.
- Government funding for R&D and the entry of midscale catheter manufacturers are likely to drive the production and adoption of cost-effective and innovative catheterization devices.
With the growing burden of cardiovascular diseases worldwide, the demand for effective, minimally invasive treatment solutions continues to rise. The micro balloon catheter market is poised for steady expansion as healthcare providers emphasize the importance of early intervention in heart disease. Enhanced R&D efforts, the introduction of affordable catheter products, and increased funding from government bodies will likely further stimulate market growth, ensuring broader access to advanced cardiovascular care solutions.
Key Market Drivers
- Increasing Prevalence of Cardiovascular Diseases: The rise in cardiovascular conditions, such as coronary artery disease (CAD), is a significant driver for the demand for micro balloon catheters. These devices are essential for minimally invasive procedures that treat narrowed or blocked arteries.
- Minimally Invasive Techniques: The shift towards minimally invasive surgical techniques is boosting the adoption of micro balloon catheters. These procedures typically result in shorter recovery times and reduced patient discomfort, making them more appealing to both healthcare providers and patients.
- Government Funding and Research Initiatives: Increased funding from government bodies for research and development in medical technologies is promoting innovation in the micro balloon catheter market. This support facilitates the development of advanced products that improve patient outcomes.
- Technological Advancements: Innovations in catheter design and materials are enhancing the performance of micro balloon catheters, leading to better clinical outcomes and increased adoption in surgical procedures.
- Awareness and Education: Growing awareness among healthcare professionals about the benefits of using micro balloon catheters for treating cardiovascular diseases is contributing to market growth.
Competitive Analysis
Some of the prominent players profiled in the global market are-
- Terumo Corporation
- Cook Medical
- Piolax Medical Devices Inc.
- Boston Scientific Corporation
- Stryker Corporation
- Medtronic plc.
- Edward Life Sciences Corporation
- MicroPort Scientific Corporation
- B. Braun Melsungen AG
- Jotech GmbH
Notable Developments in the Micro Balloon Catheter Market
- In July 2021, Medtronic launched the new-generation drug-coated balloon catheter ‘Prevail™’ for the treatment of coronary artery disease in Europe after the device was awarded the CE (Conformité Européene) mark.
- In June 2021, Neurescue received 510k clearance from the USA Food and Drug Administration for their NEURESCUE® device, ‘the world’s first intelligent balloon catheter’, devised for the temporary occlusion of large vessels such as the aorta.
- In March 2021, Alvimedica received the CE mark approval for their Fluydo™ NC, a new PTCA NON-COMPLIANT Balloon Catheter. The device comprises a new Non-Compliant Balloon designed to dilate the hard lesions located into the challenging coronary lesions in an efficient manner.
- In April 2023, Boston Scientific Corporation released its 2022 Performance Report on the company’s work for innovating medical devices and therapies in the improvement of patient outcomes while also prioritizing environmental, social, and governance (ESG) progress.
Key Companies Profiled
- Terumo Corporation
- Cook Medical
- Piolax Medical Devices Inc.
- Boston Scientific Corporation
- Stryker Corporation
- Medtronic plc.
- Edward Life Sciences Corporation
- MicroPort Scientific Corporation
- B. Braun Melsungen AG
- Jotech GmbH
Key Segmentation
By Indication:
- Coronary Artery Diseases
- Peripheral Vascular Disease
By End-user:
- Public Hospitals & Private Hospitals
- Ambulatory Surgical Centres
- Cardiac Catheterisation Laboratories
By Balloon Type:
- High-Pressure Balloons
- Elastomeric Balloons
By Catheter Type:
- Over-The-Wire (OTW) Balloon Catheters
- Rapid Exchange (RX) Balloon Catheters
- Fixed-Wire (FW) Balloon Catheters
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- The Middle East and Africa
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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