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.
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.
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.
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.
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.
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
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 |
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
b. The global PTA balloon catheter market size was estimated at USD 2.6 billion in 2021 and is expected to reach USD 2.8 billion in 2022.
b. The global PTA balloon catheter market is expected to grow at a compound annual growth rate of 9.92% from 2022 to 2030 to reach USD 6.0 billion by 2030.
b. North America dominated the PTA balloon catheter market with a share of 38.2% in 2021. The presence of advanced healthcare infrastructure, rising incidence of PAD, and the presence of well-established manufacturers of PTA catheters are some of the key factors boosting the market growth.
b. Some key players operating in the PTA balloon catheter market include Medtronic plc; Terumo Corporation; Cardinal Health; Boston Scientific Corporation; Natec Medical; and Surmodics, Inc
b. Key factors that are driving the PTA balloon catheter market growth include the rising prevalence of cardiovascular diseases, the growing geriatric population, and an increasing number of minimally invasive surgeries.
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With COVID-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for COVID-19 as a key market contributor.
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