Global PTA Balloon Catheter Market, by Material Type (Polyurethane, Nylon), by Application (Coronary Artery Disease and Peripheral Vascular Disease), by End User (Hospitals, Ambulatory Surgical Centers, and Others(Specialist Clinics)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 1,556.0 Million in 2022 and is expected to exhibit a CAGR of 7.1% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing number of product launch by market players and approvals by the U.S. FDA (Food and Drug administration) is expected to fuel the global PTA balloon catheter market growth over the forecast period. For instance, in April 2019, Becton, Dickinson and Company, a medical device company, announced the launch of UltraScore 014 focused force percutaneous transluminal angioplasty (PTA) balloon. The UltraScore balloon was intended to dilate stenoses in the iliac, femoral, ilio-femoral, popliteal, infra-popliteal and renal arteries and for the treatment of obstructive lesions of native or synthetic arteriovenous dialysis fistulae.
The US FDA (Food and Drug Administration) had identified some class 1 recalls which are most serious types of recalls. Using these devices could result in fatalities or very serious injuries. For instance, on May 2019, Cook Medical, a medical device company, recalled the Advance Enforcer 35 Focal Force PTA balloon catheter due to the balloon bursting below the rated burst pressure.
Global PTA Balloon Catheter Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
In December 2021, Infection disease society of America, published a report on Impact of COVID-19 Pandemic on Central Line-associated Bloodstream Infections in Metropolitan Detroit, U.S., which reported that during the COVID-19 pandemic, there was a significant increase in central line (CL) utilization, CLABSI (Central Line-associated Bloodstream Infections) rate, SIR (Standardized Infection Ratio) and SUR (Standardized Utilization Ratio) likely due to higher acuity in COVID-19 patients despite a decrease in BC (blood culture) orders. The average CLABSI rate per 1,000 CL days increased 24% from 1.66 to 2.06 in the US. The BC utilization rate per 1,000 CL days decreased from 0.43 to 0.32 with a 26% reduction. However, CL utilization increased by 28% from 0.25 to 0.32, whereas CLABSIs due to common commensals decreased from 13.8% to 10.9%. The SIR increased significantly from 1.055 to 1.795, resulting in a 70% increase. The overall SUR also increased from 0.900 to 0.988 is a control chart of the CLABSI rate from July 2019 to April 2021.
Thus, impact of the Coronavirus (COVID-19) pandemic is expected to drive growth of the global PTA balloon catheter market during the pandemic.
Global PTA Balloon Catheter Market: Key Developments
Increasing number of product approval from the U.S. FDA (Food and Drug Administration) by the market players is expected to boost growth of the global PTA balloon catheter market over the forecast period. For instance, on July 20, 2022, BrosMed Medical, a global medical device company announced that its Tiche 0.035 PTA Balloon Dilatation Catheter had received the 510(k) clearance from the U.S. Food & Drug Administration.
On May 27, 2022, Medtronic, a medical company, announced approval from the U.S. Food and Drug Administration (FDA) for the IN.PACT 018 Paclitaxel-Coated Percutaneous Transluminal Angioplasty (PTA) Balloon Catheter, a drug coated balloon (DCB), indicated for the interventional treatment of peripheral arterial disease (PAD) in the superficial femoral and popliteal arteries.
Browse 32 Market Data Tables and 20 Figures spread through 178 Pages and in-depth TOC on “Global PTA Balloon Catheter Market”- Forecast to 2030, Global PTA Balloon Catheter Market, by Material Type (Polyurethane, Nylon), by Application (Coronary Artery Disease and Peripheral Vascular Disease), by End User (Hospitals, Ambulatory Surgical Centers, and Others (Specialist Clinics)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Furthermore, increasing number of product launch by the key market players is expected to drive growth of the global PTA balloon catheter market over the forecast period. For instance, in March 2021, Medtronic, a medical device company, announced the launch of its Chameleon percutaneous transluminal angioplasty (PTA) balloon catheter in the following countries: Germany, Italy, Portugal, South Africa, Spain, and Turkey. The device was indicated for use in native or synthetic arteriovenous dialysis fistulae, as well as femoral, iliac, and renal arteries. The device enables the application of diagnostic/therapeutic fluids via the integrated injection port located proximal to the balloon.
Key Takeaways of the Global PTA Balloon Catheter Market:
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