Balloon Catheters – Blowing Out the Flame of Coronary Artery Disease
Balloon catheter is a flexible device with a balloon at its tip, which may be inflated or deflated when the catheter is in place to create or enlarge a passageway, also it is used to remove the blockage or to open the narrowed coronary arteries caused by coronary arteries disease. Furthermore, the balloon catheters have other applications such as are used in renal denervation, cryoablation, drug delivery, perfusion, and atherectomy.
As per the stats published in 2015 by The Heart Foundation, coronary artery disease causes around 380,000 fatalities yearly in the U.S. Furthermore, around 720,000 people suffer from heart attacks each year and among these, 205,000 are repetitive cases of a heart attack and 515,000 people suffers from a first incidence of heart attack in the U.S.
The global balloon catheters market was valued at US$ 2833.4 million in 2016 and is expected to witness a robust CAGR of 7.7% during the forecast period (2017 – 2025).
Fig. 1: Global Balloon Catheters Market, By Region, 2016 (US$ Million)
Increase in coronary artery disease prevalence and preference for minimally invasive procedure expected to favor the growth of balloon catheters market in the near future
North America accounts for the largest share in the global balloon catheters market, followed by Europe. This is mainly attributed to rapidly aging population, increase in incidence rate of diabetes and increase in number of heart attack and coronary artery disease cases in this region. As per the stats published by Centers for Disease Control and Prevention (CDC), in 2012, around 29.1 people were living with diabetes in the U.S. Furthermore, in 2012, 1.7 million people were newly diagnosed for diabetes in U.S.
The balloon catheters market is expected to show high growth rate in Asia-Pacific region over the forecast period supported by increase in prevalence rate of lifestyle disease such as diabetes. According to World Health Organization (WHO), in 2016, around 110 million people were living with diabetes in China and this number is expected to reach 150 million in 2040 due to unhealthy habits and lack of physical activity.
Also, the increase in minimally invasive procedure expected to raise the demand for balloon catheters in developed and emerging regions during forecast period, as minimally invasive treatment help patients to get cure rapidly, helps to avoid open heart surgery and also prevent loss of blood during surgery.
Also, the minimally invasive procedures takes less time to perform the surgery and patient can be released from hospital on same day of surgery. This helps to patient to start their daily routine early as compare to open heart surgery also it reduces the chances of complexity occurs after the surgery.
Increase in coronary artery disease cases worldwide followed by heart surgery procedures expected to fuel the growth of balloon catheters market
As per The National Health Service (NHS), in England around 20,000 coronary artery bypass surgery performed yearly to divert and improve blood and oxygen supply from narrowed part of arteries. Also as per CADI (Coronary Artery Disease among Asian Indians) Research Foundation, around 60,000 coronary artery bypass surgery performed in India annually and the number is expected to grow year on year due to increase in aging population with unhealthy habits, diabetes cases and increase in blood cholesterol level.
Some major players operating in balloon catheters market are Abbott Laboratories, Becton Dickinson And Company, Boston Scientific Corporation, Bard Medical Division, B. Braun Melsungen AG, Johnson & Johnson, Teleflex Incorporated, Medtronic, Plc, Edwards Lifesciences Corporation, OrbusNeich and Vascular Solutions, Inc.
Few growth restraining factors are the rarity of health insurance in emerging countries such as India making this procedure beyond the reach of people who are living in rural area and lack of awareness about invasive treatment for heart surgery among patients living with heart related disease limiting the growth of balloon catheters market.
The balloon catheter is a flexible, tubular device with a balloon at its tip that is used to create, enlarge or remove blockage of a passageway within the body, by passing it through body channels. The balloon tip can be expanded by water or air to remove the blockage or to expand partly closed passageway during procedure. The balloon catheter used to treat heart related disease specifically coronary heart disease, which are caused due to diabetes, high blood pressure and high cholesterol level in blood. During the treatment of coronary heart disease, the balloon catheter helps to allow the blood flow from arteries by making a passageway that is blocked due to excess cholesterol by avoiding open heart surgery.
Also, the balloon catheter plays major role in angioplasty to treat atherosclerosis by widening the narrowed or obstructed arteries or veins. As, the procedure is minimally invasive, it is economically beneficial to the patient and helps patient to get cure rapidly as compared to open surgical procedure.
Rising incidence of cardiovascular disease and coronary heart disease cases due to increase in the prevalence of diabetes, high blood pressure cases and number of smokers worldwide is expected to favor the demand for balloon catheters around the globe.
According to World Health Organization (WHO), in 2015 around 17.7 million people died due to cardiovascular disease worldwide, and out of this total deaths around 7.4 million were die due to coronary heart disease. Furthermore, the majority of deaths are occurred in emerging economies due to high prevalence rate and lack of healthcare services in rural areas.
Also, increasing aging population and rising demand for minimally invasive procedures are the other factors leading to the growth of balloon catheters market in developed as well as emerging economies.
As per United Nations Population Fund, people aged 60 years and above accounted for 12.3% of the global population in 2015, which is expected to increase to 22% by 2050. The factors behind aging population in developed region are developed healthcare services and access of healthcare facilities to people, better nutrition, sanitation and economic development.
This report segments the global balloon catheters market on the basis of product material and geography. On the basis of material, the market is categorized into polyurethane, nylon and other type of materials such as pebax. Among these, the polyurethane segment dominate the balloon catheters market throughout the forecast period. On the basis of geography, the market is divided into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among all regions, North America contributes major market share supported by increased incidence rate of cardiovascular disease and growing inclination of the populace towards minimally invasive procedures.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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