Normal Balloon Catheter Market
Normal Balloon Catheter Market Report By Raw Material (Polyurethane Normal Balloon Catheters, Nylon Normal Balloon Catheters), By Indication (Normal Balloon Catheters for Coronary Artery Disease, Normal Balloon Catheters for Peripheral Vascular Disease, Normal Balloon Catheters for Percutaneous Coronary Intervention), By End User & Regional Forecast 2021-2031
The global normal balloon catheter market reached a valuation of around US$ 1.8 Bn in 2020, which amounts to around 4% share of the overall catheter market. Sales of normal balloon catheters are slated to accelerate at a CAGR of 7% through 2031.
Demand for nylon normal balloon catheters, especially angioplasty balloon catheters, is set to increase at a CAGR of 6% across the assessment period of 2021 to 2031.
|Normal Balloon Catheter Market Size in 2020||US$ 1.8 Bn|
|Sales Forecast for Normal Balloon Catheters by 2031||US$ 3.5 Bn|
|Global Market Growth Rate (2021 to 2031)||7% CAGR|
|Share of Top 5 Normal Balloon Catheter Manufacturers||40%|
Demand Analysis of Normal Balloon Catheters (2016 to 2020) Vs Market Outlook for 2021 to 2031
As per Fact.MR, a market research and competitive intelligence provider, the global market for normal balloon catheters was valued at US$ 1.8 Bn in 2020.
Surge in interventional cardiology has been facilitating the utilization of normal balloon catheters. Moreover, there is a rise in the prevalence of patients affected with end-stage renal disease.
The number of patients seeking renal replacement therapy has also increased. Leading manufacturers of catheter devices are developing efficient and cost-effective solutions. These incidences might influence the growth of the global normal balloon catheter market over the coming years.
In addition, various other factors such as the growing geriatric population, rising investments in research & development activities concerning normal balloon catheters are expected to boost the demand for balloon catheters.
Rising sales of normal balloon catheters for coronary artery disease and growing demand for normal balloon catheters in cardiac catheterization laboratories are expected to boost the production of normal balloon catheters.
All of these factors are expected to drive the market at a 7% CAGR across 2021 to 2031 and raise the utilization of normal balloon catheters.
How is Rise in Cardiovascular Diseases Fueling Market Growth for Normal Balloon Catheters?
The number of cardiovascular diseases has been witnessing a rise, along with growing cases of cardiology intervention procedures worldwide.
Several governments are providing reimbursement support for people suffering from vascular diseases. There has also been a hike in healthcare expenditure. These factors might favor the demand for angioplasty catheters.
In addition, the introduction of advanced balloon catheters and an increase in research funding for the development of multi-functional balloon catheters will drive market trends.
According to the World Health Organization, heart disease is the leading cause of death worldwide, accounting for roughly 17.9 Mn deaths per year. Reportedly, heart attacks and strokes account for four out of every five deaths caused by heart disease.
For the record, one-third of fatalities occur in people under the age of 70. Hypertension, cholesterol, and hyperglycemia are all factors that put people in a high-risk zone for heart disease. Furthermore, these factors are projected to boost the sales of angioplasty catheters.
It appears that increased demand for less invasive surgeries and launch of innovative cardiac procedures will propel the marker forward.
What are the Restraints Faced by Normal Balloon Catheter Manufacturers?
Costs of angioplasty procedures are very high, coupled with risks such as artery collapse and infection related to balloon catheterization, which, in turn, will impede the sales of catheter devices to some extent.
Stringent regulatory authorities and choice of alternatives such as bypass surgery are likely to hinder growth of the overall catheter market.
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Which Region is Turing Out to Be a Lucrative Market for Normal Balloon Catheter Manufacturers?
In terms of revenues, Europe will account for the largest share of the market during the forecast period. Revenue in the European regional market is set to grow 1.4X by 2031.
Increase in patient awareness, simple access to innovative healthcare services, and growing demand for advanced balloon catheters are factors to consider for market growth in the region.
Focus on government spending, particularly in research & development by major players, are expected to fuel demand for normal balloon catheters in ambulatory surgical centers.
Growing demand for polyurethane normal balloon catheters in Canada and rising opportunities for manufacturers of normal balloon catheters in Japan are all making a significant contribution to global market growth prospects for normal balloon catheters.
What is the Demand Outlook for Normal Balloon Catheters in the U.S.?
The U.S dominates the global market for normal balloon catheters in terms of revenue. The market is expected to increase 1.8X by 2031.
Ageing population, favorable FDA rules, growing sales of normal balloon catheters for cardiac catheterization laboratories, and rise in the incidence of diabetes are all contributing to market growth in the country.
Increasing government support for medical infrastructure across the country and growing cases of cardiac arrest and coronary artery disease have created opportunities for manufacturers of normal balloon catheters in the U.S.
Why are Sales of Normal Balloon Catheters Flourishing across China?
Market growth in China is expected to be supplemented due to expanding healthcare spending, increasing incidence rate of diabetes, heart attacks, and other heart-related diseases.
According to the World Health Organization (WHO), over 110 Mn individuals in China had diabetes in 2016, with the figure anticipated to rise to 150 Mn by 2040, putting a direct link between diabetes and cardiovascular disease.
Moreover, growing sales of polyurethane normal balloon catheters, presence of normal balloon catheter manufacturers in China, and rise in minimally invasive procedures are all boosting sales of normal balloon catheters for coronary artery disease in China.
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Why are Nylon Normal Balloon Catheters Gaining Immense Popularity in the Global Market?
Based on raw material, nylon will remain sought-after among manufacturers of normal balloon catheters. Approximately half the market share will be held by nylon normal balloon catheter sales during the forecast period. Sales of nylon-based normal balloon catheters are expected to increase 2.1X over the forecast period.
This is mostly due to the advantages of using nylon as a raw material in these devices, as nylon is softer, easier to refold, and easier to withdraw into the guiding catheter or introducer sheath.
As compared to PET (polyethylene terephthalate) variants, nylon high-pressure balloons need a thicker wall for a given burst pressure, which indicates that when inserted into the body and across a lesion, so the demand for nylon normal balloon catheters is more than PET balloon catheters.
Why is Demand for Normal Balloon Catheters from Hospitals High?
Sales of normal balloon catheters for hospitals are expected to exhibit fastest expansion through 2031, based on end user. Hospitals will remain the largest end users of normal balloon catheters throughout the forecast period.
Growth of this segment is being driven by growing incidence of chronic diseases and rising demand for efficient and effective surgery with shorter recovery times and shorter hospital stays.
Availability of advanced technologies as well as requirement for minimally invasive surgical procedures are both driving demand for normal balloon catheters in hospitals.
COVID-19 Impact on Industry
The COVID-19 pandemic altered the perception of healthcare among individuals. The healthcare and medical industry underwent considerable adjustments after the pandemic occurred in 2020.
Chronic disease care and patient monitoring were significantly disrupted due to the pandemic, and many heart patients were unable to visit hospitals. As a result, demand for normal balloon catheters decreased.
However, as soon as restrictions were relaxed, demand increased all over the world. In the post-pandemic period, the world is likely to experience huge changes in healthcare infrastructure, and these changes will stem from fundamental blocks that were previously deemed to be robust and effective.
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Several normal balloon catheter manufacturing companies have implemented merger and acquisition plans to differentiate them as prominent competitors in the market and to increase sales in the worldwide normal balloon catheter market.
PTA balloon manufacturing companies are forming alliances with small businesses to improve their product portfolios and extend their worldwide footprints. Launch of new products is another method used by manufacturers of normal balloon catheters to increase their market share and domination.
Normal Balloon Catheter Industry Report Scope
|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||
|Pricing||Available upon Request|
Key Segments Covered in Normal Balloon Catheter Industry Research
- Polyurethane Normal Balloon Catheters
- Nylon Normal Balloon Catheters
- Normal Balloon Catheters for Coronary Artery Disease
- Normal Balloon Catheters for Peripheral Vascular Disease
- Normal Balloon Catheters for Preventing Blood Vessel Constriction
- Normal Balloon Catheters for Percutaneous Coronary Intervention
- Percutaneous Transluminal Angioplasty (PTA) Balloon Catheters
- Angioplasty Balloon Catheters
- Normal Balloon Catheters for Hospitals
- Normal Balloon Catheters for Ambulatory Surgical Centers
- Normal Balloon Catheters for Cardiac Catheterization Laboratories
- FAQs -
The global normal balloon catheter market is currently worth more than US$ 1.8 Bn.
From 2016-2020, sales of normal balloon catheters registered a CAGR of 4%.
Rise in prevalence of cardiovascular diseases and increasing investments in R&D activities are trends are driving demand for normal balloon catheters.
Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, Terumo Corporation, and MicroPort Scientific Corporation are some renowned manufacturers of normal balloon catheters.
With 40% of global market share, Europe will largely contribute to the growth of normal balloon catheters revenue.
Sales of normal balloon catheters in Japan will most likely flourish at a CAGR of 4% over the next ten years.
Nylon normal balloon catheters continue to be the highest revenue-generating segment, accounting for 50% of global revenue.
Sales of normal balloon catheters in Germany are forecasted to top US$ 500 Mn by 2031.
The U.S., China, Germany, Canada, and Russia are expected to drive most of the demand for normal balloon catheters.
The market for normal balloon catheters is expected to surge at 7% CAGR from 2021-2031
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