The global Angioplasty Balloon Market size is expected to reach USD 2.9 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to record a CAGR of 3.3% during the forecast period. This growth is attributed to favorable government policies and increasing coronary and peripheral interventions. Angioplasty is a minimally invasive procedure, hence patients and surgeons prefer this procedure over high-cost stent placements. Furthermore, advancements in angioplasty balloons and expanding geographical reach are likely to propel the market growth in the coming years.
For instance, in December 2014, Medtronic plc received an FDA
approval for their drug-coated balloon IN.PACT Admiral for the treatment of
peripheral artery disease. The company also received product approval from
Japanese Ministry of Health, Labor and Welfare for the treatment of peripheral
artery disease in the upper leg. Approval and commercialization of cutting and
scoring balloons, such as TREK and MINI TREK, AngioSculpt, and Flextome balloons
along with rising adoption of new balloons are likely to drive the market
further.
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Further key findings from the study suggest:
- Normal
balloon segment led the market in 2017 due to low costs and ability of
these products to treat coronary artery obstruction
- DEBs are
anticipated to be the fastest-growing segment during the forecast period
due to lower restenosis rate and increased R&D investments by major
companies
- Coronary
vascular disease segment led in 2017 and is expected to maintain its
dominance during the forecast period due to rising cases of coronary
artery diseases
- Ambulatory
surgery centers (ASCs) led the end use segment in 2017 as they help
minimize the medical expenses and hospital stay
- North
America was the dominant regional market the market in 2017 and is
expected to maintain its position during the forecast period due to the
presence of major companies
- Asia Pacific
is anticipated to be the fastest-growing region during the forecast period
due to rising healthcare expenditure and R&D investments by key
companies
- Some of the
prominent companies in the industry are Abbott Laboratories; Boston
Scientific Corp.; Cardinal Health (Cordis); Cook Medical, Inc.; Becton
Dickinson. and Company (C.R. Bard); ENDOCOR GmbH; Medtronic PLC;
Spectranetics Corp.; and Johnson & Johnson
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
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