The rise in the prevalence of cardiovascular diseases and peripheral vascular diseases, adaptation to a sedentary lifestyle, ongoing new product launch, and strategic collaboration, better healthcare facilities are key factors contributing to the high CAGR of the PTA Balloon market during the forecast period.
Market Size – USD 2.28 Billion in 2018, Market Growth – CAGR of 10% Market Trends– Increased healthcare expenditure
According to the current analysis of Reports and Data, the global PTA Balloon Catheter Market valued at USD 2.28 billion in 2018 and is expected to reach USD 4.93 billion by the year 2026, at a CAGR of 10%. PTA is known as percutaneous transluminal angioplasty. A PTA balloon catheter comprises of an inflatable balloon at its tip used for minimally invasive catheterization procedure; this procedure is performed to enlarge the narrowed vessel opening.
PTA balloon is used in the treatment of coronary artery disease and Peripheral Vascular Disease, WHO had reported 17.9 million people died in 2016 due to cardiovascular diseases. It includes about 31% of all global deaths. Adaptation to Sedentary lifestyle, habits like lack of physical activity, consumption of alcohol, unhealthy food, smoking, and a rise in the prevalence of obesity, are the major factors driving the market of PTA balloon catheters. Furthermore, an increase in regulatory approvals, product launches, and mergers and acquisitions are expected to fuel the global PTA balloon catheter market in the forecast period. However, alternative therapies and complications associated with serration balloon catheters and upsurge in demand for minimally invasive surgeries are restraining the growth of the market.
Asia pacific has registered a significant market share in the PTA Balloon market due to high prevalence of cardiovascular disorders due to unhealthy food, habits, consumption of alcohol smoking, also rise in the incidence of obesity and presence of sophisticated healthcare infrastructure, and increase in patient awareness about emerging minimally invasive surgeries in are likely to fuel the market of PTA Balloon Catheter.
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Further key findings from the report suggest
- In the year 2018, the Lutonix DCB catheter was introduced. It was a drug-coated balloon catheter that facilitates the delivery of paclitaxel to the arterial wall with single, short inflation. Paclitaxel is used to treat arterial restenosis. The Lutonix DCB’s was found to be a highly effective formulation of paclitaxel it also contains polysorbate and sorbitol that allows Lutonix DCB catheter to deliver a therapeutic dose to the artery wall and also keep the dose as low as possible.
- In the year 2019, Freudenberg Medical, a global developer and manufacturer of finished medical devices, components, and minimally invasive solutions for the medical device industry, had initiated for expanding its services in the manufacturing of medical balloon development and balloon rapid prototyping services.
- The peripheral vascular disease had held a significant share in the PTA catheter balloon market owing to the rise in smoking, diabetes, obesity, high blood pressure, high cholesterol, and is likely to rise with a CAGR of 9.7% in the forecast period.
- PTA catheters mostly are made of Polyurethane, and more than 50% of catheters are made from it as the tubing contains the properties of both rubber and plastic also provide with toughness and tensile strength it is highly biocompatible as it softens at body temperature.
- Ambulatory surgical centers had registered a significant market share for achieving better treatment facilities for patients suffering from coronary artery disease and peripheral vascular disease it is likely to grow with a CAGR of 9.8% in the forecast period.
Key companies operating in the market include:
Medtronic plc; Terumo Corporation; Cardinal Health; Boston Scientific Corporation; Natec Medical; and Surmodics, Inc, Cook Medical, Biotronik, Andratec
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global PTA Balloon Catheter market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
On basis of product types and application offered by the PTA Balloon Catheter industry, the market is segmented into:
- Coronary Artery Disease
- Peripheral Vascular Disease
End Use Outlook
- Hospitals and Clinics
- Ambulatory Surgical Centers
The regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Benefits of PTA Balloon Catheter Market Report:
- Panoramic overview of the opportunities and risks in the PTA Balloon Catheter sector
- Study of recent innovations and developments in the industry
- Comprehensive study of the growth pattern of the PTA Balloon Catheter industry
- In-depth assessment of the competitive landscape of the key players of the PTA Balloon Catheter industry
- Analysis of the PTA Balloon Catheter market drivers, constraints, and opportunities
- Assessment of technological developments and latest trends of the industry
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