Angioplasty balloon is a medical device that is used for surgical widening or unblocking of a blood vessel, especially a coronary artery. A noticeable increase in health conditions have been is observed due to some factors that cause heart related diseases such as obesity, poor diet, and extra cholesterol. Coronary artery disease is a life threatening disease which occurs due to insufficient supply of blood to the heart, leading to cardiac arrest. Thus, a person experiencing such medical condition should be treated with angioplasty procedure, which cleans the narrow and blocked blood veins. Angioplasty includes insertion of a small balloon tipped catheter into the blood vessel, which is then inflated at the site of blockage to help open the narrowed arteries.
Increase in the number of cardio vascular disease to boost the angioplasty balloon market
According to the health protection agency survey 2016, around 610,000 people die every year in the U.S. due to heart defects and this number is still on an upsurge. According to World Health Organizations (WHO) 2011, around 8 million individuals suffering from peripheral artery disease were recorded in the U.S. Coronary heart disease is a major cause of all the deaths in the country, which accounted for around 45% of total deaths. The prevalence of these diseases are expected to increase over the forecast period. Moreover, the growing ageing population experiencing heart ailments and diabetes, is expected to create higher demand angioplasty balloon catheters over the forecast period.
Increasing number of cardiovascular disease such as peripheral disease, coronary heart disease, and diabetes increase the global market value of angioplasty balloon. However, increase in number of key players of angioplasty balloon market has resulted in price conflicts, which is expected to curb growth of the global market.
The global angioplasty balloon market is segmented on the basis of product type, application, end-user, and geography.
On the basis of product type, the global angioplasty balloon market is segmented into:
On the basis of application, the global angioplasty balloon market is segmented into:
On the basis of end-user, the global angioplasty balloon market is segmented into:
On the basis of geography, the global angioplasty balloon market is segmented into North America, Europe, Asia pacific, Latin America, Middle East, and Africa.
Rise in the demand for angioplasty balloon in North America, makes it a global leader.
According to world health organizations (WHO) 2014, the North America angioplasty balloon market is predicted to reach 38% of global market share during next decade. According to the same reports, around 3.4 million people in North America are suffering from cardiovascular diseases. The growing healthcare facilities involving angioplasty in this region, have contributed to market growth. Moreover, the North American region is also a center of technological advancements and inventions of new products for catheters and angioplasty balloon, which further helps boost the market for angioplasty balloon. This makes North America a global leader of angioplasty balloon market. According to the World Health Organizations reports (WHO) 2016, European region was the second leading global market for angioplasty balloon usage, due to the presence of large geriatric population suffering from cardiovascular diseases in the region. However, Asia Pacific region is expected to lead and emerge as the leading global user for angioplasty balloon over the forecast period. This is due to the world’s largest population present in this region with a noticeable number of people suffering from heart diseases. The costs of angioplasty balloon has decreased by around 40% in over recent decade in India, Japan, and China, which is significantly indicates growth of the angioplasty balloon market in Asia-Pacific.
Investments by key players to acquire global opportunities in developing regions.
Some of the key players in the angioplasty balloon market includes NATEC Medical, Cook Medical, Medtronic plc, C.R. Bard Inc., Boston Scientific Corporation, Spectranetics Corporation, ENDOCOR GmbH, BIOTRONIK SE & CO. KG, Cordis Corporation, Abbott Laboratories, and Opto Circuits Ltd Angioplasty balloon produced by Boston Scientific Corporation has created worldwide growth for the angioplasty balloon market. The regional management of Asia Pacific market is also involved in assisting key players with a certain amount of investment, in turn boosting overall growth of market for angioplasty balloon in countries such as India, China, and Japan.
In emerging economies of Asia-Pacific, angioplasty balloon market provides significant opportunities for key players as the market is highly characterized by strong competition, global availability, and is user-friendly, providing a conducive environment for growth to all the key players, in turn enhancing growth of the global market.