Angioplasty Balloons Market Size, Share, Trends, Growth and Forecast 2030

Angioplasty Balloons Industry Prospective:

The global angioplasty balloons market size was worth around USD 2389.67 million in 2022 and is predicted to grow to around USD 3414.27 million by 2030 with a compound annual growth rate (CAGR) of roughly 4.61% between 2023 and 2030.

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Angioplasty Balloons Market: Overview

Angioplasty balloons are medical devices that are used during angioplasty procedures that is a minimally invasive medical treatment typically conducted to treat atherosclerosis. Angioplasty balloons are used for widening obstructed or narrow veins and arteries. Using a balloon catheter, a deflated balloon is passed over a guide wire. The balloon is then passed to the vessel that needs treatment and once reaching the exact position, the balloon is inflated to a previously decided fixed size. The inflated balloon in turn helps to widen the blood vessel along with the muscular wall surrounding the vessel. This helps in improving the blood flow level to the desired value. Depending on certain factors such as the patient's condition, the intensity of vein or artery narrowing, and more, medical professionals can also use a stent during the operation to ensure that the vessel remains open during the ballooning process. Once the task is complete, the angioplasty balloon is deflated and withdrawn from the system. The industry for angioplasty balloons is growing steadily driven by several factors. However, the lack of healthcare infrastructure in certain regions could act as a barrier against growth.

Key Insights:

• As per the analysis shared by our research analyst, the global angioplasty balloons market is estimated to grow annually at a CAGR of around 4.61% over the forecast period (2023-2030)
• In terms of revenue, the global angioplasty balloons market size was valued at around USD 2389.67 million in 2022 and is projected to reach USD 3414.27 million, by 2030.
• The angioplasty balloons market is projected to grow at a significant rate due to the increasing number of patients with coronary artery disease
• Based on application segmentation, coronary was predicted to show maximum market share in the year 2022
• Based on product segmentation, drug-eluting balloons were the leading product in 2022
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022

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Angioplasty Balloons Market: Growth Drivers

Increasing number of patients with coronary artery disease to generate high revenue

The global angioplasty balloons market is projected to grow owing to the increasing number of patients suffering from coronary artery disease. It is one of the most common heart-related conditions that impacts the major blood vessels causing them to struggle in terms of supplying essential nutrients, oxygen, and blood to the heart. The leading cause of coronary artery disease is high cholesterol, also known as plaques, deposited in the heart arteries. Studies have proven that the condition develops over multiple years and the symptoms may go unnoticed for a long time. One of the major risks involved with coronary heart disease is heart attack. A report by the British Heart Foundation suggests that nearly 80 million women and 110 million men suffer from coronary heart disease. In 2019, the condition was regarded as the leading cause of medically-induced deaths. High cholesterol is generally caused by poor lifestyle and eating habits. This includes obesity, regular or excessive consumption of alcohol, and eating fatty food or fried items.

The World Health Organization (WHO) reports that more than 1 billion people in the world are obese out of which around 650 million are adults. There are several reasons for obesity. For instance, certain genetic and hormonal reasons can lead to extreme weight gain, poor sleep cycle, emotional and mental health, genetics, and lifestyle choices. As more people undergo angioplasty procedures due to increasing health concerns, the demand for effective angioplasty balloons is likely to expand in the coming years.

Angioplasty Balloons Market: Restraints

Associated risks with the medical procedure to restrict market expansion

Angioplasty procedures are typically considered safe but there have been recorded cases of complications arising either during the treatment or after the procedure is complete. Some of the risks involved are damage to a blood vessel or heart valve, stroke, allergic reaction to the stent material or to the drug used in drug-eluting stent, blood clot, irregular heartbeat, in-stent restenosis also known as clogging of the stent’s inside. Some of these risks are extreme while some may be life-threatening. Moreover, in certain cases, the patient may not have sufficient time to undergo angioplasty. This generally happens in case of a fatal heart attack. These issues collectively could restrict the global angioplasty balloons market growth during the forecast period.

Angioplasty Balloons Market: Opportunities

Increasing research on drug-coated balloons and other novel technologies in the industry to create growth opportunities

To eliminate certain risks that are a part of angioplasty procedures, several players in the angioplasty balloons industry are now investing in developing drug-coated balloons. These equipment do not require the use of a stent platform and the polymer thus eliminating the requirement to place any foreign object in the vessel. Such advancements can be helpful in reducing the number of deaths caused by unwanted reactions to medical equipment used during the treatment. In March 2023, doctors at the Kauvery Hospital in India successfully managed to perform a coronary angioplasty procedure on a 74-year-old patient using drug-coated balloons (DCB). In July 2021, Medtronic plc, a leading provider of medical technology and systems, announced the launch of the Prevail™ drug-coated balloon (DCB) Catheter in the European market. The DCB catheter is supposed to be used during percutaneous coronary intervention (PCI) medical processes.

Angioplasty Balloons Market: Challenges

High cost of medical procedures and lack of healthcare infrastructure in remote areas to create market challenges

The angioplasty balloons industry growth trend is expected to come across certain challenges owing to the high cost of medical procedures using angioplasty balloons. For instance, in the US, the average cost of angioplasty is around USD 28000. However, it should be noted that the price range may vary between nations. Nonetheless, there are several countries that do not have efficient healthcare architecture in remote locations. This is especially applicable to less developed countries or emerging nations. Research indicates that around 48% of the African population does not have access to quality medical care. Such issues are a global concern since many patients do not get even a chance to undergo life-saving medical treatment due to the cost burden.

Angioplasty Balloons Market: Segmentation

The global angioplasty balloons market is segmented based on application, product type, end-user, and region.

Based on application, the global market segments are peripheral and coronary. In 2022, the highest growth was observed in the coronary segment due to the extensive application of angioplasty balloons to specifically treat blocked or narrowing coronary vessels. Increasing number of patients undergoing angioplasty and PCI treatments are the leading reasons for higher segmental growth. In addition to this, a rise in disposable income, higher access to healthcare insurance policies in emerging countries, and increasing medical expenditure have also acted as key contributors. Another crucial aspect of the growth trend is the increased investments from government agencies in healthcare systems. For instance, in December 2022, the United States Agency for International Development (USAID) announced that it would invest USD 415 million across 5 African nations to improve primary healthcare in these countries.

Based on end-user, the angioplasty balloons industry segments are hospitals, clinics, ambulatory surgery centers, and catheterization laboratories.

Based on product type, the global market segments are drug-eluting balloons, normal balloons, cutting balloons, and scoring balloons. In 2022, the highest growth was observed in the drug-eluting balloons segment also known as DEBs. They have grown in terms of popularity in recent times driven by higher efficiency and less risk of side effects. Furthermore, manufacturers of angioplasty balloons are investing significantly in launching more advanced versions of DCBs for higher applications in high-risk operations and treatment procedures. In June 2023, Surmodics, Inc. was awarded approval by the US Food and Drugs Administration (FDA) authority for its SurVeil™ drug-coated balloon (DCB). Abbott, the commercialization partner for SurVeil will also provide with company with a $27 million milestone payment.

Angioplasty Balloons Market: Report Scope

Angioplasty Balloons Market: Regional Analysis

Asia-Pacific to witness a higher growth rate during the forecast period

The global angioplasty balloons market is expected to witness the highest growth in Asia-Pacific. The growth is a result of higher angioplasty medical procedures conducted in Asian countries. India is regarded as one of the most crucial nations for cardiac surgeries. As per information by the National Center for Biotechnology Information, in 2016, Indian doctors conducted over 2,000 coronary angioplasty and around 5,000 coronary bypass operations. The country has shown remarkable growth in terms of coronary operations in the last few decades. Moreover, the affordable pricing for angioplasty and other heart operations has helped push the market for healthcare tourism in the country.

As per research, in 2016, India issued around 170000 medical visas. Other factors causing higher regional growth are increased healthcare investments in Asian economies along with growing numbers of regional patients. North America is expected to deliver higher results during the forecast period. The leading reason is the surging rate of FDA approvals and innovation-oriented projects targeting the regional market. For instance, In January 2023, the agency approved Stellarex 0.035” ver-the-wire (OTW) drug-coated angioplasty balloon created by Philips Image Guided Therapy Corp.

Angioplasty Balloons Market: Competitive Analysis

The global angioplasty balloons market is led by players like:

• Abbott Laboratories
• Medtronic
• Terumo Corporation
• Cordis Corporation
• Boston Scientific
• Spectranetics Corporation
• B. Braun Melsungen AG
• Biotronik
• Cook Medical
• MicroPort Scientific Corporation
• Cardinal Health
• Meril Life Sciences
• C.R. Bard
• Hexacath
• Teleflex Incorporated.

The global angioplasty balloons market is segmented as follows:

By Application

• Peripheral
• Coronary

By End-User

• Hospitals
• Clinics
• Ambulatory Surgery Centers
• Catheterization Laboratories

By Product Type        

• Drug-Eluting Balloons
• Normal Balloons
• Cutting Balloons
• Scoring Balloons

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa