Analysis of Scoring Balloon Catheter market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global scoring balloon catheter market size reached a valuation of around US$ 180 Mn in 2020, which amounts to just around 0.5% share of the overall catheter market.
|Scoring Balloon Catheter Market Size in 2020||US$ 180 Mn|
|Sales Forecast for Scoring Balloon Catheters by 2031||US$ 350 Mn|
|Global Market Growth Rate (2021 to 2031)||CAGR 7%|
|Market Share of Top 5 Scoring Balloon Catheter Suppliers||50%|
Sales of scoring balloon catheters are slated to accelerate at a CAGR of 7% to top US$ 350 Mn by 2031. Demand for scoring balloon catheters for coronary artery diseases, which holds the highest market share, is set to increase at a CAGR of 6% across the assessment period of 2021 to 2031.
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As per Fact.MR, a market research and competitive intelligence provider, the global market for scoring balloon catheters was valued at US$ 180 Mn in 2020.
Scoring balloon catheter devices are witnessing steady demand from healthcare professionals globally. Increasing preference for scoring balloon catheters over conventional catheters attributed to their limited features in the healthcare industry will fuel market growth.
Scoring balloon catheters are used for dialysis of renal and peripheral vascular diseases. These devices also witness considerable demand among healthcare professionals due to the growing need for coronary artery disease treatment.
Growing demand for scoring balloon catheters for dialysis, high presence of scoring balloon catheter market players, and rising sales of scoring balloon catheter devices across regions are all expected to drive market growth at a 7% CAGR across 2021 - 2031.
Insufficient luminal expansion during treatment of fibrocalcific lesions through conventional devices and resistance to dilatation have led manufacturers to adopt scoring technology for the production of balloon catheters.
Conventional balloons are bound to lower patency rate and repetitive revascularization. Due to such factors, scoring balloon catheters are preferred during the treatment process as compared to conventional devices.
Attributed to the benefits of treating ISR without slippage, demand for scoring balloon catheters is more than conventional devices in the healthcare industry. Rising sales of coronary balloon catheters as well as growing advancements in catheter devices are driving market growth.
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Growing risk of artery collapse attributed to the catheterization process is predicted to hinder sales of scoring balloon catheters to some extent. Moreover, increasing risk of infections due to cardiac catheterization treatment is expected to pose challenges for scoring balloon catheter suppliers.
Such factors are likely to impact the growth of the cardiac catheterization market negatively over the forecast period.
North America is likely to be a major scoring balloon catheter revenue-generating region. Revenue in the North American market is set to grow 1.3X by 2031.
Presence of significant market players, growing healthcare expenditure, and increasing number of percutaneous coronary interventions are fueling market growth in the region.
Increased use of advanced technologies, rising demand for angioplasty scoring balloon catheters, and growing preference for less invasive procedures are expected to boost sales of coronary balloon catheters across North America.
Increasing adoption of scoring balloon catheters in Germany as well as growing demand for scoring balloon catheters in the U.K are all making a significant contribution to global market growth prospects for scoring balloon catheters.
The U.S. market for scoring balloon catheter devices is expected to increase 1.5X by 2031.
According to the Centers for Disease Control and Prevention (CDC), coronary heart disease accounted for 365,914 deaths in the United States in 2017, with roughly 20% of CAD deaths occurring in people under the age of 65.
Favorable regulatory situations, healthcare spending, and high presence of manufacturers of scoring balloon catheters in the U.S are fueling market growth.
China has a large geriatric population, which is the main reason driving demand for medical equipment such as scoring balloon catheters.
Presence of a large pool of people with heart diseases, growing healthcare spending, and new product launches by key medical device manufacturing companies in the country are expected to fuel growth of the angioplasty scoring balloon catheters market in China.
Rising awareness of cardiovascular illnesses, significant innovations in healthcare, and catheterization technology advancements are also driving market growth in China.
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In terms of disease indications, coronary artery disease is projected to represent relatively high growth in revenue terms in the global market of scoring balloon catheter devices. Sales of scoring balloon catheters for coronary artery disease are expected to increase 2.1X over the decade.
Equipped with enhanced technology, scoring balloon catheters have brought respite to patients of coronary artery disease. Despite increasing risks of artery collapse during the catheterization process, scoring balloon catheters are expected to witness considerable demand in the healthcare sector.
Conventional balloons come with limitations such insufficient luminal expansion and bailout stenting due to uncontrolled dissection. Scoring technology enables superior luminal expansion through re-expansion of the original stent and effective mechanical dilatation of the neointimal tissue.
Technological developments in angioplasty combined with rising rates of coronary artery disease are likely to drive market growth. Increased demand for minimally invasive treatments and highly technological interventions for better clinical outcomes are expected to drive sales of scoring balloon catheters for coronary artery disease treatments.
The hospital segment is likely to account for a majority of the market share of scoring balloon catheters. Advanced healthcare infrastructure, rising availability of skilled labor, and affordability are elements driving demand for scoring balloon catheters in hospitals.
Furthermore, significant increase in the older population suffering from lifestyle disorders, including atherosclerosis and heart failure, is predicted to expand the patient pool and boost revenue generation from hospitals.
According to the American College of Cardiology, around 1.2 Mn angioplasties are performed in the United States each year. Furthermore, hospitals are likely to attract a big patient base due to their high accessibility and affordability when compared to specialty clinics.
Due to the current COVID-19 situation, there was restricted movement in hospitals. People were keen to avoid any form of surgery or diagnostic operations, except emergencies, to reduce the chance of catching COVID-19.
As a result of the various factors surrounding COVID-19, angioplasty surgeries were halted, which impacted the demand and production of scoring balloon catheters.
However, as limits were eased, increasing use of scoring balloon catheters for coronary artery diseases paved the way for more scoring balloon catheters industry opportunities all over the world.
Advancements in scoring balloon catheters and high presence of scoring balloon catheter suppliers are major growth factors of the scoring balloon catheter market.
To increase their market share, scoring balloon catheter key market players are working on balloon technology innovation as well as extending product indications and regions. Scoring balloon catheter dealers are also focusing on strategic mergers and alliances, as well as acquisitions.
Scoring balloon catheter manufacturers are also investing on R&D to improve product quality and reduce manufacturing costs, as well as developing unique products to increase patient compliance and safety, so as to gain a competitive advantage over their competitors.
|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|
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The global market for scoring balloon catheters is currently worth more than US$ 180 Mn.
From 2016-2020, market CAGR was recorded around 4% for scoring balloon catheters.
Growing prevalence of peripheral vascular and coronary artery diseases is fueling demand for scoring balloon catheter devices.
Sales of scoring balloon catheters in Canada are forecasted to top US$ 60 Mn by 2031.
Key players operating in this space are Medtronic Plc, B. Braun Melsungen AG, BIOTRONIK SE & Co. KG, Tokai Medical Products Inc., and Boston Scientific Corporation.
With 50% share, North America will largely contribute to the growth of global scoring balloon catheter revenue.
Scoring balloon catheter sales in Germany are expected to rise at a CAGR of 5% over the forecast period of 2021 to 2031.
Scoring balloon catheters for coronary artery diseases account for a share of 40% in the market.
The U.S., China, U.K, Germany, and France are expected to drive most demand for scoring balloon catheters.
The global market is expected to surge at a CAGR of 7% over the forecast period of 2021 to 2031.
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