The Global Advanced Balloon Catheter Market is anticipated to witness a growth of steady CAGR in the forecast period, 2024-2028. This can be ascribed to the rising prevalence of different chronic heart diseases and growing geriatric populations across the region. The increasing demand for minimally invasive procedures in emerging countries and the development of advanced cardiovascular devices will further enhance the overall market demand for balloon catheters during the forecast period.
The other factors supporting the market's growth are the growing incidence of cancers in the pelvic region affecting the urinary system along with the technical development of drug-coated balloon catheters aimed at drug delivery at the site of action is expected to propel the growth of the market. Moreover, the rise in the research and development activities in the medical sector and the rise in the adoption of various new technology are the contributing factors to the growth of the market.
Increasing prevalence of cardiovascular diseases across the globe
The increasing prevalence of coronary heart disease and deaths occurring in emerging countries due to a lack of health care services in rural areas is expected to create lucrative growth during the forecast period. According to the Central For Diseases Control, Every year, about 805,000 people in the United States have a heart attack and about 1 in 5 heart attacks are silent, the damage is done, but the person is not aware of it.
Similarly, increasing need for surgical intervention for the treatment of cardiovascular disorders enhances the demand for Percutaneous Transluminal Angioplasty (PTA) balloon catheters during the forecast period. According to a research article published by the NCBI in 2018, more than 200 million people suffer from Peripheral Artery Disease (PAD) across the globe.
Advancements in surgical procedures propel the market growth
Growing demand for angioplasty over conventional surgery has gained a significant preference among patients due to its minimally invasive procedure and better outcomes which are expected to create lucrative growth during the forecast period. Peripheral artery diseases majorly include this procedure for the use of catheters to clear blocked arteries. Similarly, the growing demand for minimally invasive surgeries along with increasing the number of catheterization laboratories across the region is expected to create lucrative growth during the forecast period.
Also, growing initiatives and investments by government and private organizations for the development of healthcare infrastructure in underdeveloped regions will further propel the market growth during the forecast period. According to the American Cancer Society's estimates for bladder cancer in the United States for 2022 are about 81,180 new cases of bladder cancer (about 61,700 in men and 19,480 in women) and about 17,100 deaths from bladder cancer (about 12,120 in men and 4,980 in women).
Favourable Reimbursement Landscape in Developed Economies Foster the Market Growth
In the developing region, the reimbursement procedure depends on the citizen's fulfilment of the prerequisites documents so some developing countries like the U.S, the UK, Canada, and Japan have this procedure which will enhance the growth of the healthcare sector during the forecast period. However, different private insurance company also provide the reimbursement procedure for patients other than angioplasties procedures like kyphoplasty and sinuplasty are also reimbursed which will boost the market growth over the years. However, in Europe, in the case of usage of advanced balloon catheters, like drug-coated balloon catheters for a procedure, additional reimbursement is also offered considering the high cost of the device. Thus, the favourable reimbursement landscape for angioplasties and other balloon catheter procedures will significantly impact the sales of advanced balloon catheters.
Report Scope:
Advanced Balloon Catheter Market, By Raw Material Type:
Nylon
PET
Polyurethane
Others
Advanced Balloon Catheter Market, By Application:
Coronary Procedures
Peripheral Procedures
Neurovascular Procedures
Other Procedures
Advanced Balloon Catheter Market, By End-Users:
Hospitals and Ambulatory Surgical Centers
Catheterization Laboratories
Others
Advanced Balloon Catheter Market, By Region:
North America
United States
Canada
Mexico
Europe
France
Germany
United Kingdom
Italy
Spain
Asia Pacific
China
India
Japan
South Korea
Australia
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Advanced Balloon Catheter Market Outlook
6. North America Advanced Balloon Catheter Market Outlook
7. Europe Advanced Balloon Catheter Market Outlook
8. Asia-Pacific Advanced Balloon Catheter Market Outlook
9. South America Advanced Balloon Catheter Market Outlook
10. Middle East and Africa Advanced Balloon Catheter Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Global Advanced Balloon Catheter Market: SWOT Analysis
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