Angioplasty balloons: Key market research findings
- The Americas dominate the market geographically
- Normal catheters account for a majority of the market revenue
- Key vendors – Abbott Laboratories, Boston Scientific, C. R. Bard, and Medtronic
Technavio’s market research analysts predict the global market for angioplasty balloons grow at a CAGR of more than 3% between 2016 and 2020. The demand for angioplasty balloons is growing rapidly owing to their rising requirements among specialized cardiologists. Many hospitals and cardiac centers worldwide, particularly in the emerging countries, have highly skilled cardiologists who perform successful procedures. They are opting for interventional techniques to treat various CVDs due to their less invasive nature. During 2015, the Americas accounted for more than 43% of the overall market share to become the dominant shareholder in the global market. The growth of the market in this region is driven primarily by the high mortality rate associated with CVDs.
The new market research report from Technavio presents a breakdown and analysis of the angioplasty balloon segments based on the product.
“Vendors in the market are undergoing M&A to extend their product offerings, increase their market shares, and expand their operations. They are acquiring other companies to enhance their R&D capabilities for manufacturing innovative devices that meet consumer needs. Acquisition of other companies allows vendors access to the product portfolio of the acquired company. M&A as a business strategy also creates opportunities for new players to enter the market,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
In 2015, the normal catheter segment accounted for more than 73% of the overall market revenue to become the key revenue generating vertical of the global market. Normal balloon catheters are cost-effective compared with scoring, cutting, and DEB catheters. This has led to the increased adoption of normal balloon catheters in underdeveloped and developing countries. Limited awareness of next-generation angioplasty balloons leads physicians’ in these countries to prefer normal balloons for traditional cardiac surgeries to next-generation balloon catheters.
The key vendors in the global angioplasty balloons market include Abbott Laboratories, Boston Scientific, C. R. Bard, and Medtronic. The market is growing steadily and is likely to grow at a significant pace during the forecast period. This is due to the presence of many global and regional vendors that offer a wide range of angioplasty balloons. Vendors are using advanced technologies to develop new products or upgrade their existing portfolio, which is intensifying market competition. Vendors are also formulating various strategies to remain competitive in the market and increase their revenue share.
A more detailed analysis is available in the Technavio report, Global Angioplasty Balloons Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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