VALLEY COTTAGE, New York, September 27, 2016 /PRNewswire/ --
Balloon catheter is a billion dollars market accountingfor a substantial proportion of healthcare expenditure worldwide. The global balloon catheter market is expected to reach US$ 2,887.4 Mn in 2016 and is projected to register a CAGR of 3.8% during the period 2016-2026.
According to Future Market Insights, a rising prevalence of cardiac diseases leading to interventional cardiology procedures and an increasing geriatric population prone to cardiac arrest is expected to fuel the growth of the global balloon catheter market over the forecast period. "Economic factors such as growing healthcare expenditure, increasing disposable income per capita, rising government support in developed economies, and favourable reimbursement policies are expected to boost the growth of the global balloon catheter market over the forecast period." Analyst, Future Market Insights.
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However, a high cost of coronary angioplasty and stenting treatment and risk of infection and artery collapse associated with balloon catheterisation is likely to hinder market growth over the forecast period.
The global balloon catheter market is segmented on the basis of product type (Normal Balloon Catheter, Cutting Balloon Catheter, Scoring Balloon Catheter, Drug Eluting Balloon Catheter, Stent Graft Balloon Catheter); disease indication (Coronary Artery Disease, Peripheral Vascular Disease); raw material (Polyurethane, Nylon, Others); and end user (Public Hospitals & Private Hospitals, Ambulatory Surgical Centres, Cardiac Catheterisation Laboratories).
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The global balloon catheter market is segmented into seven key regions - North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and MEA. Sales of balloon catheters have remained quite healthy in the U.S. market in recent years, making North America the most lucrative market globally. Revenue from the North America market is anticipated to expand at a CAGR of 3.5% from 2016 to 2026 to reach US$ 1,312.2 Mn by 2026. In addition to North America, balloon catheters sales are also growing steadily in Japan, MEA, and APEJ. Revenues in APEJ are anticipated to grow by 4.2% whereas MEA is expected to increase at 3.4% over the forecast period.
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Boston Scientific Inc., Medtronic, Terumo Corporation, MicroPort Scientific Corporation, B. Braun Melsungen AG, Jotech GmbH, QX Medical LLC, Meril Life Pvt. Ltd., Hexacath, Abbott Laboratories, Tokai Medical Products Inc., Biosensors International Ltd., Cook Medical Inc., Cardionovum GmbH, Cordis Corporation, and Biotronik Inc. are the leading companies operating in the global balloon catheter market. Major market players are adopting strategies such as mergers and acquisitions to maintain their market share.
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SOURCE Future Market Insights
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