Percutaneous transluminal angioplasty (PTA) is a procedure that uses a short, flexible plastic tube or catheter that has a balloon at the end to open up a blocked blood vessel. When the tube is placed in the artery, it inflates to cause normal blood flow. Fatty deposits in the blood vessels can reduce blood flow, and in severe situations, totally block it. Fat buildup poses the greatest risk of forming clots and causing a heart attack or stroke. This danger can be reduced by using PTA to unblock blocked arteries.
The global percutaneous transluminal angioplasty balloons catheter market is estimated to be valued at US$ 1,435.0 Million in 2021 and expected to exhibit a CAGR of 8.3% during the forecast period (2021-2028).
Figure 1. Global Percutaneous Transluminal Angioplasty Balloons Catheter Market Share (%), By Material, 2021
The increasing prevalence of cardiovascular diseases is expected to drive the demand for percutaneous transluminal angioplasty (PTA) balloon catheters during the forecast period.
An increase in the prevalence of cardiovascular diseases is expected to drive demand for PTA balloon catheters and subsequently fuel the market growth. According to the Centers for Disease Control and Prevention, in the U.S., around 659,000 people die from heart disease each year, and 18.2 million adults of age 20 and older had coronary artery disease (CAD) in 2019.
Percutaneous Transluminal Angioplasty Balloons Catheter Market Report Coverage
|Base Year:||2020||Market Size in 2021:||US$ 1,435.0 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||8.3%||2028 Value Projection:||US$ 2,501.8 Mn|
Cook Group, Medtronic Plc., Becton, Dickinson and Company, Abbott Laboratories, Koninklijke Philips N.V., ENDOCOR GmbH, Cardinal Health, NIPRO, Terumo Corporation, Boston Scientific Corporation, Surmodics, Inc., Teleflex Incorporated, BIOTRONIK SE & Co. KG, Biomerics, Shockwave Medical Inc., Microport Scientific Corporation, Nordson Corporation, and S3V Vascular Technologies Pvt. Ltd.
|Restraints & Challenges:||
Figure 2. Global Percutaneous Transluminal Angioplasty Balloons Catheter Market Share (%), By Application, 2021
Increasing government initiatives such as financial assistance are expected to drive the market growth during the forecast period.
Increasing government initiatives to enhance product access and improve healthcare infrastructure by providing financial assistance are likely to create significant opportunities for market players and thus drive the market growth. For instance, in 2018, the Technology Development Board (TDB), Ministry of Science & Technology, and Government of India entered into an agreement with S3V Vascular Technologies Pvt. Ltd., a company manufacturing products for cardiovascular diseases. This agreement will provide financial assistance of US$ 130.3 Mn to the company.
Global Percutaneous Transluminal Angioplasty Balloons Catheter Market – Impact of Coronavirus (COVID-19) Pandemic
Due to the COVID-19 pandemic, lockdown or shutdown was imposed in many countries, which had a negative impact on the economy of the private healthcare sector globally. This lockdown also resulted in an unprecedented burden on healthcare systems worldwide.
According to an article published in 2020 by the Journal of EuroPCR and the European Association of Percutaneous Coronary Interventions (EAPCI), a link was shared to conduct a survey with EAPCI members from April 01, 2020 to April 15, 2020. According to this survey, cardiac catheterization laboratory (cath lab) personnel availability for both physicians and paramedics was affected by the pandemic. The proportion of respondents stated that at least one cath lab physician was in quarantine, infected with COVID-19, or dispatched to other departments in need such as emergency department (ED) or intensive care units (ICU), accounting for 59%, 43%, and 59%, respectively. The corresponding proportions for cath lab nurses and technicians were 52%, 36%, and 59% for quarantine, infected with covid-19 and dispatched to other departments respectively.
Thus, the above survey suggested that cardiology practices were highly affected, including limited cath lab personnel availability, reduction of procedural activities related to coronary artery disease, and others.
Global Percutaneous Transluminal Angioplasty Balloons Catheter Market: Restraint
The major factors that hinder the global percutaneous transluminal angioplasty balloons catheter market growth include product recalls. For instance, in October 2020, the U.S. Food and Drug Administration (FDA) recalled a Class 2 device conquest PTA balloon dilatation catheter offered by Bard Peripheral Vascular Inc., a company manufacturing medical products. The product was recalled due to a packaging issue. The label stated that the balloon size was 6mm x 40mm, but it included a 5mm x 40mm balloon. The dilation catheter was packaged with the wrong size balloon.
Major players operating in the global percutaneous transluminal angioplasty balloons catheter market include Cook Group, Medtronic Plc., Becton, Dickinson and Company, Abbott Laboratories, Koninklijke Philips N.V., ENDOCOR GmbH, Cardinal Health, NIPRO, Terumo Corporation, Boston Scientific Corporation, Surmodics, Inc., Teleflex Incorporated, BIOTRONIK SE & Co. KG, Biomerics, Shockwave Medical Inc., Microport Scientific Corporation, Nordson Corporation, and S3V Vascular Technologies Pvt. Ltd.
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