Cutting Angioplasty Balloons Market to Hit USD 360.0 Mn by 2031 | Transparency Market Research
The global cutting angioplasty balloons market growth is driven by the increase in the prevalence of cardiovascular diseases and surge in adoption of minimally invasive procedures.
Wilmington, Delaware, United States, March 24, 2023 (GLOBE NEWSWIRE) — According to recent study by Transparency Market Research, the global cutting angioplasty balloons market is projected to expand at a CAGR of 6.4% from 2023 to 2031 and surpass value of USD 360.0 Mn by 2031.
Rapid adoption of advanced balloon angioplasty to treat coronary artery disease is poised to augment the market value. Widespread adoption of balloon angioplasty to treat coronary in-stent restenosis is a key trend that has accelerated the cutting angioplasty balloons industry development.
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|Market Revenue||USD 205.9 Mn in 2022|
|Estimated Value||USD 360.0 Mn by 2031|
|Growth Rate – CAGR||6.4%|
|No. of Pages||160 Pages|
|Market Segmentation||By Product Type, Application, and End-user|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa, South America|
|Format||Electronic (PDF) + Excel|
Advancement in angioplasty procedure has led to a surge in commercialization of innovative products to treat coronary and peripheral artery diseases in the global patient population. Adoption of advanced devices is poised to be driven by high incidence of angiographic restenosis associated with conventional balloon angioplasty. Surge in stent usage to treat various cardiovascular diseases is likely to augment the market outlook.
Rise in prevalence of coronary artery diseases in several countries is likely to fuel the market growth. Balloon angioplasty is preferred over traditional angioplasty due to the need for prevention of restenosis in small coronary arteries.
Cutting Angioplasty Balloons Market – Key Findings of Study
- Surge in Utilization of Drug-coated Cutting Balloons: Advancements in angioplasty have led to the adoption of cutting angioplasty balloons in the treatment of coronary artery diseases. A number of clinical trials in the past few years have demonstrated high safety and effectiveness of these devices in reducing the risk of restenosis. Substantial R&D activities in drug-eluting stents are likely to pave the way to new revenues for companies in the market in the next few years. High preference for angioplasty with drug-coated balloons can be ascribed to its effectiveness in reducing the recurrence of in-stent restenosis that is commonly found in conventional percutaneous transluminal coronary angioplasty. Additionally, drug-coated balloons lower the risk of extent of vessel wall injury. Surgeons prefer these angioplasty devices in case of complex lesions. Cutting balloons offer them the advantage of lower balloon inflation pressure than in a conventional percutaneous coronary angioplasty procedure.
- Increase in Preference for Hospitals for Coronary Artery Disease Treatments to Offer Lucrative Opportunities: Hospitals are widely preferred among the patient population to undergo treatments for coronary artery diseases. Significant numbers of percutaneous coronary interventions are conducted in the hospital setting due to availability of advanced interventional procedures to manage/treat CVD. The hospitals end-user segment is anticipated to account for major market share from 2023 to 2031. The market report also indicates that coronary artery disease, a segment based on indication, accounted for leading share of the market in 2022.
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Global Cutting Angioplasty Balloons Market – Key Drivers
- Rapid increase in elderly population in several countries, especially in developing regions, is a key factor driving the demand for cardiovascular disease (CVD) treatment. High global burden of CVD is expected to augment the demand for percutaneous coronary interventions in the patient population. The trend is likely to rise and bolster the global cutting angioplasty balloons market growth.
- Continuous technological advancements in drug-coated balloons are likely to open up significant revenue opportunities for companies in the cutting angioplasty balloons market. Medtech companies strive to enhance the safety and efficacy of cutting angioplasty balloons.
Cutting Angioplasty Balloons Market – Regional Growth Dynamics
North America is a lucrative market for cutting angioplasty balloons. The region is anticipated to hold major market share from 2023 to 2031. The U.S. is projected to account for a significant revenue share in North America during the forecast period. Presence of robust healthcare infrastructure and large geriatric population in the country is expected to fuel the market growth in North America.
The market in Asia Pacific is anticipated to expand at a rapid pace from 2023 to 2031. High prevalence of CVD and growth in awareness about minimally invasive coronary interventions to treat coronary artery diseases are likely to propel the market in the near future. Rise in incidence of heart diseases is also projected to boost the demand for cutting angioplasty balloons in the region. India and China are expected to be promising markets in Asia Pacific in the near future.
Global Cutting Angioplasty Balloons Market – Competition Landscape
Prominent companies are focusing on improving their operational efficiencies and strengthening supply chain networks. These measures would enable them to reduce the cost of production and also tap into significant product demand in cost-sensitive markets such as that in developing countries.
Key players operating in the cutting angioplasty balloons market are TriReme Medical LLC, Abbott, Vascular Concepts Limited, MicroPort Scientific Corporation, CORDIS, Cook Medical, B. Braun Melsungen AG, and Boston Scientific.
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Cutting Angioplasty Balloons Market Segmentation
- Drug-coating Cutting Balloons
- Conventional Cutting Balloons
- Scoring Cutting Balloons
- Coronary Artery Disease
- Peripheral Artery Disease
- Cardiac Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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