Analysis of Cutting Balloon Catheter market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global cutting balloon catheter market reached a valuation of around US$ 180 Mn in 2020, which amounts to around 5% share of the overall balloon catherization market.
Sales of cutting balloon catheters are slated to accelerate at a steady CAGR of 4% to top US$ 260 Mn by 2031. Demand for drug delivery cutting balloon catheters for coronary artery disease is set to increase at a CAGR of 3% across the assessment period of 2021 to 2031.
|Market Size Value in 2020||US$ 180 Mn|
|Market Forecast for 2031||US$ 260 Mn|
|Global Growth Rate (2021 to 2031)||4% CAGR|
|Share of Top 5 Companies||40%|
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The global market for cutting balloon catheters was valued at US$ 180 Mn in 2020.
The cutting balloon catheter, which is an inflatable balloon, was invented by Barath et al., and is used in angioplasty procedures. Percutaneous coronary interventions in arteries or veins are possible with these catheter devices. The device features a unique tip with microsurgical blades that are activated by inflating the balloon. When stents are used along with a balloon catheter, it is known as a balloon expandable stent, unlike self-expandable stents, and these are mostly made from nitinol alloy.
Rising cardiac diseases and old age population and numerous advantages of cutting balloon catheters are primary factors boosting the sales of cutting balloon catheters across geographies.
Moreover, the market is expected to grow due to rising prevalence of peripheral vascular diseases and also various developments in catheterization technology, thereby driving demand for angioplasty balloons.
Growing awareness among individuals about cardiovascular diseases due to initiatives by government and non-government organizations is projected to fuel demand for cutting balloon catheter devices over the forecast period.
All of these factors are expected to drive the market at a 4% CAGR across 2021 to 2031, and raise the popularity of the market for cutting balloon catheters.
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The market for angioplasty balloons is expected to be driven by technological advancements and increased R&D. Furthermore, use of cutting balloon catheters for treatment is likely to increase among patients suffering from end-stage renal disease, with a majority of these patients undergoing catheter surgery.
Rising advanced cutting balloon catheter announcements by main players for coronary heart disease and peripheral heart disease treatment are expected to boost sales of cutting balloon catheter devices over the coming years.
Furthermore, growing cases of cardiovascular diseases require the development of more efficient cutting balloon catheters. Due to increased customer demand for such devices, cutting balloon catheter device manufacturers are concentrating their efforts on developing advanced products.
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Other improved options for performing minimally invasive endovascular procedures and dearth of qualified professionals are hampering market growth of inflatable balloon catheters to some extent.
The market is also expected to be hampered by the high price of angioplasty procedures, chance of infection, and artery collapse associated with balloon catheterization.
North America will continue to be the leading market for cutting balloon catheters over the next ten years. Revenue from the North American region will grow 1.3X by 2031.
Presence of well-established healthcare sector in the region is mainly responsible for this. Furthermore, factors such as growing healthcare expenditure and rising healthcare awareness are assisting market growth in the region. Also, because of increased regulatory approvals and product launches in the region, North America is expected holds the largest share in the market.
All in all, growing demand for coronary artery disease cutting balloon catheters in Canada, rising sales of nylon cutting balloon catheters in Argentina, and increasing demand for peripheral cutting balloon catheters in the U.K. are all making a significant contribution to global market growth prospects for cutting balloon catheters.
The U.S dominates the global market for cutting balloon catheters in terms of revenue. The U.S. cutting balloon catheter market is expected to increase 1.4X in valuation by 2031.
Large patient population, rapid technological advancements, and rising healthcare spending in the U.S. are expected to boost demand for cutting balloon catheter devices. Increasing adoption of cutting balloon catheters for coronary artery disease treatment, rising sales of nylon cutting balloon catheters, and presence of major cutting balloon catheter manufacturers in the U.S are factors driving market growth in the country.
As people become more aware of personal care and treatment, the market in China is growing. Moreover, market growth in China is expected to be complemented over the decade due to the growing geriatric population, increasing demand for nylon cutting balloon catheters, and rising incidence of chronic diseases.
Rising demand for cutting balloon catheters from cardiac catheterization laboratories and growing use of cutting balloon catheters for angioplasty patients are also major factors driving market growth in China.
Demand for cutting balloon catheters for coronary artery disease is expected to increase 1.2X over the next ten years.
According to the Centers for Disease Control and Prevention (CDC), coronary artery disease was the leading cause of death in the United States in 2017, killing 365,914 people. Coronary artery disease (CAD), or coronary heart disease (CHD), is a severe disease that arises when plaque forms in the coronary arteries that supply oxygen-rich blood to the heart.
A cutting balloon catheter is an advanced percutaneous coronary intervention device. Without the need for open heart surgery, cutting balloon catheters help blood flow from the arteries to the heart muscles.
Technological advancements in angioplasty, rising rates of coronary artery disease, and increased adoption of cutting balloon catheters for coronary artery disease are expected to drive market growth.
The global market for cutting balloon catheters is dominated by hospitals.
Growing patient pool, increased demand for efficient and effective treatment procedures with shorter recovery times, and improved healthcare infrastructure are factors driving growth of the segment across the world. The market is growing due to an increase in the use of advanced technologies in hospitals as well as high requirement for minimally invasive surgical procedures.
Based on end user, sales of cutting balloon catheters will continue to stay especially high in hospitals.
The COVID-19 pandemic changed the way the world looked at healthcare. After the pandemic hit in 2020, healthcare and medical industries underwent significant changes.
Because of the pandemic, chronic disease management and patient monitoring were severely disrupted, and many heart patients were unable to visit hospitals. As a result, demand for peripheral cutting balloon catheters decreased, resulting in revenue loss for the balloon catheters market.
However, as soon as restrictions were eased/lifted, there was a surge in demand for these devices all over the world. The world is expected to see some major changes to healthcare infrastructure in the post-pandemic era, and these changes will come from the fundamental blocks that were previously thought to be strong and effective.
The market has been sluggish for a while, but it has revived fast and created a favorable environment for the growth of the cutting balloon catheter market in 2022.
Several major market players are concentrating their efforts on forming effective joint ventures, acquisitions, and/or collaborations to expand their respective customer bases. Leading manufacturers of cutting balloon catheters are concentrating their efforts on new product developments and launches to increase their market share.
With constant development in the healthcare industry, cutting balloon catheter manufacturers are keeping a record of the latest advancements to formulate key business strategies.
|Historical Data Available for||2016-2020|
|Market Analysis||Value in US$ Mn, Volume in Units|
|Key Regions Covered||
|Key Countries Covered||
|Key Market Segments Covered||
|Key Companies Profiled||
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The global cutting balloon catheter market is currently worth more than US$ 180 Mn.
From 2016-2020, sales of cutting balloon catheters registered a CAGR of 2%.
Rise in prevalence of various chronic heart diseases and increased healthcare spending are trends driving demand for cutting balloon catheters.
Abbott Laboratories, Boston Scientific Corporation, Terumo Corporation, Medtronic Plc., and B. Braun Melsungen AG are some renowned manufacturers of cutting balloon catheters.
North America, with 40% global market share, will largely contribute to growth of cutting balloon catheter revenue.
Sales of cutting balloon catheters in Japan will most likely increase at a CAGR of 2% over the next ten years.
Cutting balloon catheters for coronary artery disease continue to be the highest revenue-generating segment, accounting for 50% of global revenue.
Sales of cutting balloon catheters in Germany are forecasted to reach over US$ 55 Mn by 2031.
The U.S., China, Germany, Canada, and Russia are expected to drive most of the demand for cutting balloon catheters.
The market for cutting balloon catheters is expected to expand at 4% CAGR from 2021-2031.
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