Report Code : A02303
Surge in number of aortic diseases, increase in demand for angioplasty over conventional surgeries, and rise in global geriatric population along with surge in heart diseases fuel the growth of the percutaneous transluminal coronary angioplasty (PTCA) balloon catheters market during the forecast period.
Onkar Sumant - Manager
Life Sciences at Allied Market Research
According to a new report published by Allied Market Research, titled, “Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloon Catheters Market," The percutaneous transluminal coronary angioplasty (ptca) balloon catheters market was valued at $1.2 billion in 2021, and is estimated to reach $1.8 billion by 2031, growing at a CAGR of 4.4% from 2022 to 2031.
A PTCA balloon catheter is a medical device that consists of a guidewire and a catheter that is placed into the femoral artery in the leg or the radial artery in the arm to treat restricted blood arteries. A balloon catheter can also be used to unblock blocked or restricted coronary arteries caused by coronary artery disease using a minimally invasive method (CAD).
Rise in geriatric population, surge in number of minimally invasive surgeries, increase in hospitalization with an increase in cardiovascular disorders, rise in demand for angioplasty over conventional surgeries, due to its minimally invasive nature and better outcome, and increase in the number of catheterization laboratories are among the major factors driving the PTCA Balloon Catheters Market growth, among others. Furthermore, rise in technological breakthroughs & modernization in healthcare equipment surge in healthcare research and development activities, and growth in developing markets will generate new opportunities for the Percutaneous Transluminal Coronary Angioplasty Balloon Catheters Market.
One of the primary reasons driving the market value is the expanding geriatric population, which is accompanied by an increase in the prevalence of aortic disease, venous thromboembolism (VTE), and peripheral arterial disease (PAD) due to age-related changes in vascular structure and function. The number of elderly individuals in Asia-Pacific is increasing at an unprecedented rate, and the region's ageing population has already reached critical number and fuling the PTCA Balloon Catheters Market size.
The global PTCA balloon catheter market is segmented on the basis of product, compliance, delivery platform, and material. On the basis of products, the PTCA balloon catheter market can be segmented into normal balloon catheter, drug eluting balloon catheter, cutting balloon catheter, and scoring balloon catheter. On the basis of delivery platform the PTCA balloon catheters market is bifurcated into over the wire and rapid exchange/monorail balloon catheters. On the basis of compliance the PTCA balloon catheter market is categorized into semi-compliant and non-compliant. On the basis of balloon material the PTCA balloon catheters market is fragmented into polyolefin copolymer (POC), polyethylene (PE) and polyethylene terephthalate (PET). Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA
Based on product, normal balloon catheter is projected to record a 4.5% CAGR and reach $ 1,125.56 million by the end of the analysis period and the growth in the drug eluting balloon catheter segment is readjusted to a revised 2.1% CAGR for the next 7-year period.
Depending on delivery platform, it is bifurcated into over-the-wire and rapid exchange/monorail balloon catheters. Over-the-wire balloon catheters feature guidewire that tracks along the full length of catheter. Rapid exchange balloon catheters have guidewire along a short section which helps in saving time
Based on compliance, The semi-compliant balloons that are made of polyurethane and silicone are accounted to be the largest segment in 2021 with a revenue of $960.1 million. The non-compliant balloon catheters are expected to grow with a CAGR of 6.1% during the given forecast period.
Based on balloon material the PTCA balloon catheters market is fragmented into polyolefin copolymer (POC), polyethylene (PE) and polyethylene terephthalate (PET). Polyolefin copolymer (POC) segment accounted to be the largest segment with a revenue of $672.35 million in 2021. Polyethylene (PE) segment accounted for the fastest growing segment with a CAGR 5.3% in the given forecast period.
Region wise, in 2021, North America held the major share in terms of revenue in the market, because of increased healthcare infrastructure, government initiatives, an increase in the rates of cardiac diseases, and rising healthcare expenditures in this region, North America has the largest market for PTCA Balloon Catheters Market share. The PTCA Balloon Catheters Market trends in North America is followed by Europe.
Due to rise in occurrences of coronary heart disease, surge in disposable income, increase in awareness toward heart diseases and associated treatments and better healthcare infrastructure in Asia, the PTCA balloon catheter market is ecpected to grow rapidly in the coming years.
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Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloon Catheters Market by Product (Normal balloon catheter, Drug eluting balloon catheter, Cutting balloon catheter, Scoring balloon catheter), by Delivery Platform (Rapid Exchange (RX) / Monorail balloon catheter, Over-the-wire (OTW) balloon catheter), by Compliance (Semi-Compliant, Non-Compliant), by Balloon Material (Polyolefin copolymer (POC), Polyethylene (PE), Polyethylene terephthalate (PET)): Global Opportunity Analysis and Industry Forecast, 2021-2031
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