Balloon angioplasty is increasingly being used to carry out various specific tasks during surgeries, such as scoring, cutting, and drug eluting. Manufacturers of angioplasty balloons are focusing on improving patient outcomes by constantly upgrading their existing products. Balloon angioplasty is widely preferred for being minimally-invasive, and can be performed under local anaesthesia, wherein, the patient can be discharged within 24 hours after the surgery, in most cases. Moreover, drug-coated balloon angioplasty, in particular, results in significantly lower post-surgery care, and has been associated with lesser long-term reintervention rates as compared to regular angioplasty.
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On the back of these factors, Fact.MR estimates the global angioplasty balloons market to be valued at US$ 2.4 Bn in 2024. However, recent unfavourable changes in the reimbursement scenario are expected to peg market growth in the near future, with a projected CAGR of 3.5% over the forecast period (2020 to 2025).
Angioplasty Balloons Market: Key Takeaways
- Semi-compliant balloons are expected to be the most preferred angioplasty balloons, accounting for over three quarters of the market revenue. This is mainly due to their easy tracking and high resistance to punctures.
- Normal balloons, though having reached saturation, are expected to dominate the market in the foreseeable future, albeit at a slow growth rate.
- The high number of favourable patient outcomes position drug-coated angioplasty balloons on the fastest growth trajectory in the market.
- The high prevalence of cardiovascular diseases, and relatively favourable regulatory and reimbursement scenario, make North America the most preferred destination for angioplasty balloon manufacturers.
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Competition Analysis
The global angioplasty balloons market is considered moderately consolidated, with the three top players in the market – Boston Scientific, Cordis Corporation, and Abbott – occupying over 60% of the market share. Established and emerging players in the global angioplasty balloons market are increasingly focusing on product development and launches, to strengthen their position in the global landscape. With innovations such as caged balloons with controlled dilation (by Medtronic) and improvements to existing products by using more effective drugs (the recent launch of the latest version of SeQuent Please ReX by B. Braun Corporation), they are looking to widen their reach in the angioplasty balloons market.
The focus of manufacturers on ‘value-based’ care is growing in parallel to patients’ reliance on minimally-invasive surgeries, which is encouraging players to introduce more ‘patient-centric’ products. Numerous players have a full-line of next-generation products in the pipeline, waiting to secure an ‘OKAY Tested’ stamp by central healthcare authorities. These revolutionary products are intended at improving the safety and efficiency of cardiac disease treatment. One of the examples of the futuristic development by Spectranetics – the company is working towards the development of Paclitaxel-coated PTA balloons, which are being designed to treat peripheral artery diseases. The product is currently under trail in the U.S., and is likely to be launched by the end of 2024. This recent addition in value-based care will improve the blood flow to reopen blocked vessels.
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Analysts at Fact.MR opine that, Asia Pacific is emerging as a rapidly-growing regional market, due to the development of healthcare infrastructure and increase in medical expenditure in the region. This would be particularly significant during the forecast period, as the incidence of CVD is set to grow, alongside increased healthcare spending in APAC. These factors are opening up a plethora of opportunities for manufacturers in the APAC angioplasty balloons market.
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