GVR Report cover PTA Balloon Catheter Market Size, Share & Trends Report

PTA Balloon Catheter Market Size, Share & Trends Analysis Report By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-3-68038-758-2
  • Number of Pages: 85
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2020
  • Industry: Healthcare

Report Overview

The global PTA balloon catheter market size was valued at USD 2.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.92% from 2022 to 2030. The rising geriatric population, increasing prevalence of cardiovascular diseases, and a growing number of minimally invasive surgical procedures are some of the major factors boosting industry growth. Coronary artery disease, arrhythmias, peripheral vascular disease, and congenital heart defects are major cardiovascular diseases that are prevalent across the globe. PTA balloon catheters are majorly used for the treatment of such diseases.

North America PTA balloon catheter market size, by country, 2020 - 2030 (USD Million)

An increase in the number of treatment options for cardiovascular disorders, such as Peripheral Artery Disease (PAD), which depending on the severity of the condition may involve the need for surgery, is fueling the industry growth. Atherosclerosis, diabetes, smoking, and high blood pressure are some of the key factors responsible for rising cardiovascular diseases, especially PAD. Being an age-related disease, PAD has an increased prevalence rate of more than 10% in patients aged 65 and above. The rise in the geriatric population is thus another factor driving the market.

Growing preference for minimally invasive surgeries over open surgeries can be attributed to various factors such as lower costs, minimal trauma and incision, faster recovery, and low risk of complications. The increasing prevalence of cardiovascular diseases in emerging markets such as India and Brazil, along with the rising preference for and affordability of minimally invasive surgeries in these countries, is propelling industry growth in emerging countries.

Furthermore, a low threat of substitutes is another driving factor. There is no significant substitute currently in the market for PTA balloon catheters. Advantages such as quick inflation, high deliverability, tractability assurance, and extended treatment reach with longer-length balloons make it ideal for use, thereby leaving low scope for substitutes. PTA balloon catheter is designed for minimally invasive procedures owing to which it is frequently recommended by physicians.

COVID-19 PTA balloon catheter market impact: 4.1% growth from 2020 to 2021

Pandemic Impact

Post COVID Outlook

The lockdown disrupted the supply chain and lowered inventories globally, resulting in a shortage of surgical devices and equipment. The number of surgeries for coronary arteries disorders also drastically declined in the initial phases of the pandemic due to restrictions and the non-availability of skilled healthcare professionals during the pandemic.

The demand for cardiovascular surgeries is expected to rise due to the increasing prevalence of cardiovascular diseases as a result of the higher incidence of obesity due to inactivity during the pandemic. The increased stress during the pandemic also boosted cardiovascular disorders, thus driving the demand for surgery.

The COVID-19 pandemic has also accelerated the development of cutting-edge technologies. To meet the high demand, key players are focusing on R&D to develop innovative products and implemented strategies such as partnerships and mergers. In July 2021, Medtronic launched Prevail, Drug-Coated Balloon (DCB) catheter, in the European market for treating coronary artery disease.

The growth in the number of product approvals is expected to result in higher accessibility to quality equipment, thus driving the market post-pandemic. For instance, in July 2022, BrosMed received FDA approval for its latest Tiche 0.035 super high-pressure PTA balloon dilatation catheter.

 

Technology advancements have resulted in the development of innovative products, giving better outcomes. For instance, in April 2021, Cardiovascular Systems launched innovative peripheral balloon catheters for complex lesions. Companies are investing in research on new technologies and their safety studies and are receiving support from the governments as well for research. For instance, in April 2022, Terumo Corporation announced the enrolment of the first patient for the study on its latest bobby balloon guide catheter.

Regional Insights

In 2021, North America dominated the global market with a revenue share of over 35.0%. This can be attributed to the favorable reimbursement policies, the introduction of new technologically advanced equipment, and the presence of several key manufacturers. Furthermore, as per the American Heart Association (2021), over 500,000 percutaneous coronary interventions, including percutaneous transluminal coronary interventions, are performed in the U.S. annually.

PTA Balloon Catheter Market Trends by Region

The rise in the prevalence of diabetes, government initiatives, and the introduction of several technologically advanced products by major players are driving the market in Europe. According to the International Diabetes Federation, the prevalence of diabetes is 8.9%, with 59.3 million people in the European region living with diabetes in 2019, a figure that is expected to reach 68.1 million in 2045. Furthermore, increased government healthcare spending in Europe is facilitating the market growth.

The Asia Pacific region is expected to grow at the fastest rate over the forecast period. This can be attributed to the increase in the prevalence of cardiovascular diseases along with an increase in healthcare spending. As per Biomedcentral, one in every five adults in China suffers from cardiovascular disease. Furthermore, the aging population in countries such as Japan and China and growing disposable income are expected to drive the market in the region. The growth of health tourism in developing nations is also contributing to the industry growth in the region.

Key Companies & Market Share Insights

Competition in the market is expected to be moderate during the forecast period. The market is fragmented with the presence of several large and small players. Key players having a strong foothold in the market are well-versed with such circumstances, enabling them to better sustain themselves in the industry; however, it is very difficult for new players to cope with the stringency of regulations, resulting in limited entry of new players. However, the increasing prevalence of cardiovascular disorders and rising demand for minimally invasive surgical procedures are encouraging new players to enter the market, especially in developing countries wherein regulations are a bit less stringent. Some prominent players in the global PTA balloon catheter market include:

  • Medtronic

  • Tuermo Corporation

  • Cardinal Health

  • Boston Scientific Corporation

  • Natec Medical

  • Cook Medical

  • Biotronik

  • Surmodics, Inc.

  • Andratec

PTA Balloon Catheter Market Report Scope 

Report Attribute

Details

Market size value in 2022

USD 2.8 billion

Revenue forecast in 2030

USD 6.0 billion

Growth Rate

CAGR of 9.92% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; China; Japan; India; Australia; Brazil; Mexico; Argentina; South Africa; Saudi Arabia

Key companies profiled

Boston Scientific Corporation; Cardinal Health; Medtronic plc; Natec Medical; Terumo Corporation; Cook Medical; Biotronik; AndraTec; Surmodics, Inc.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global PTA Balloon Catheter Market Segmentation

This report forecasts revenue growth at the regional and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global PTA balloon catheter market report based on region:

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa (MEA)

      • South Africa

      • Saudi Arabia

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