Growing prevalence of peripheral vascular and coronary artery diseases has fuelled demand for scoring balloon catheter devices in the healthcare sector. Moreover, increasing demand for medical devices equipped with enhanced technology is projected to impact the global market growth of scoring balloon catheter positively. According to a recently published report, the global scoring balloon catheter market will reflect sluggish CAGR growth over the forecast period, 2017 – 2024.
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Factors Propelling Global Market Growth
Increasing prevalence of coronary artery diseases has led to an upsurge in demand for scoring balloon catheter devices in the healthcare sector. Healthcare manufacturers prefer scoring balloon catheter devices over the conventional devices for the treatment of the coronary artery diseases attributed to limitations such as uncontrolled dissections including bailout stenting and insufficient luminal expansion.
Moreover, healthcare professionals prefer using scoring balloon catheter devices over conventional catheter devices for treatment of peripheral vascular diseases. Fibrocalcific lesion is resistant to dialation through conventional balloon catheter devices attributed to inadequate luminal expansion. Due to these factors, manufacturers are adopting scoring technology for the production of the scoring balloon catheter devices in the healthcare sector. These factors are likely to contribute towards the global market growth of scoring balloon catheter positively.
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On the other hand, growing risks regarding artery collapse during the catheterization treatment is projected to influence demand for scoring balloon catheter devices negatively. Moreover, increasing risks of infection due to the treatment of catheterization is projected to pose significant challenges for scoring balloon catheter devices in the global market by 2024 – end. These factors are expected to inhibit the global market growth of scoring balloon catheter devices during the projected period.
Nylon to Represent a Leading Market
Cardiac catheterization laboratories is projected to register a relatively high CAGR among other end users in the global market of scoring balloon catheter through 2024. In revenue terms, hospitals will witness a relatively high growth in the global market by 2024–end. Hospitals in Europe is projected to generate significant revenue globally throughout 2024.
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In terms of disease indications, coronary artery disease is projected to represent a relatively high growth in revenue terms in the global market of scoring balloon catheter devices. This segment will witness around US$ 40 Mn in the global market in 2017. Peripheral vascular disease segment is projected to register significant growth after coronary artery disease segment.
Nylon among various raw materials is projected to register a relatively high growth in revenue terms throughout 2024. This segment will represent US$ 30 Mn by the end of 2017. Among other regions, North America will witness a major market for the nylon segment globally. Polyurethane is projected to reflect a relatively high CAGR in the global market by 2024 – end.
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Market Players
Key players in the global market of scoring balloon catheter are B. Braun Melsungen AG, Medtronic Plc, Tokai Medical Products Inc., BIOTRONIK SE & Co. KG, Terumo Corporation, Boston Scientific Corporation, Jotech GmbH, MicroPort Scientific Corporation, Hexacath, Meril Life Sciences Pvt Ltd, Cordis Corporation, Abbott Laboratories, Cardionovum GmbH, and Cook Medical INC.
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