Stent Graft Balloon Catheter Market to Expand 2X Owing to Numerous Developments in Catheter Devices: Fact.MR Study
Published : 19 Nov 2021 Industry: Healthcare
A recently published report by Fact.MR, a market research and competitive intelligence provider, reveals that the global stent graft balloon catheter market is projected to expand at a robust CAGR of 7% over the forecast period (2021-2031), reaching US$ 1.6 Bn in valuation.
Stent graft balloon catheters are soft catheters equipped with inflatable balloons and are utilized during a catheterization process to enlarge the narrow opening in a coronary artery. A gradual evolution has been observed in the market for stent graft balloon catheters, from simple stents to modification of balloon stent catheters.
Since the recent past, there has been a surge in hospital admissions caused due to increasing cases of atherosclerosis and soaring prevalence of CAD – coronary artery disease globally. Numerous developments have been realized in the technology of balloon catheters along with the hike in healthcare expenditure.
Technological advancements in stent graft balloon catheters, rising awareness about heart disease treatments, and developed healthcare infrastructure are poised to drive market growth over the next ten years.
Key Takeaways from Market Study
- Global stent graft balloon catheter market to top US$ 1.6 Bn by 2031.
- Compliant balloon stent catheters projected to reach around US$ 800 Mn by 2031.
- Non-compliant balloon stent catheters projected to record above 4% CAGR over next 10 years.
- Market in Europe holds share of more than 40%.
- Market in Japan expected to reach valuation of US$ 250 Mn by 2031.
- Market in Germany to record 3% CAGR over forecast period of 2021-2031.
“Growing prevalence of coronary artery disease, several initiatives taken by government organizations, and rise in per capita expenditure on healthcare in developing nations are factors expected to drive healthy growth in the sales of stent graft balloon catheters over the coming years,” says a Fact.MR analyst.
Stent graft balloon catheter manufacturers and healthcare service providers have started to provide personalized patient care and access to complete end-to-end medical device products and services.
Product concepts are being improved and operating costs are being reduced by key companies. Key players are working with a sense of urgency and consumer focus. By focusing on these strategies, key stakeholders are expanding their geographic footprints and strengthening their existing product portfolios.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the stent graft balloon catheter market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study divulges essential insights on the market on the basis product type (compliant balloon stent catheters and non-compliant balloon stent catheters), raw material (polyurethane, nylon, and others), indication (coronary artery disease, peripheral vascular disease, balloon angioplasty, bypass graft surgery, and atherosclerosis patients), and end user (hospitals, ambulatory surgical centers, and cardiac catheterization laboratories), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant - Healthcare