PTA Balloon Catheter Market Size, Share & Trends Analysis Report By Material Type (Polyurethane, Nylon), By Application (Peripheral Artery Disease), By End-use, By Region, And Segment Forecasts, 2024 - 2030

PTA Balloon Catheter Market Size & Trends

The global PTA Balloon Catheter market size was valued at USD 2.65 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.32% from 2024 to 2030. Rising geriatric population, increasing prevalence of cardiovascular diseases, and growing number of minimally invasive surgical procedures are some of the major factors boosting market 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 market 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 increased prevalence rate of more than 10% in patients aged 65 & above. Rise in 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 & incision, faster recovery, and low risk of complications. Increasing prevalence of cardiovascular diseases in emerging markets such as India and Brazil, along with the rising preference and affordability of minimally invasive surgeries in these countries is propelling market 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 like 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.

Technology advancements have resulted in the development of innovative products, giving better outcomes. Companies are investing in research on new technologies and their safety studies & 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.

Market Concentration & Characteristics

The market is witnessing a high degree of innovation, with companies introducing advanced technologies like 3D surgical navigation devices and intravascular shock wave balloon catheter systems.

Several market players such as Cardinal Health, 3M, Smith & Nephew, are involved in merger and acquisition activities. Through M&A activity, these companies employ key strategies such as product innovation, strategic collaborations, and geographical expansion to enhance market presence and address the growing demand for minimally invasive cardiovascular interventions.

Regulations in the market have a significant impact, with changes necessitating manufacturers to adjust their products or processes accordingly. Moreover, regulations can also influence the competitive landscape in the market. Stringent regulations can create barriers to entry for new players, but they can also protect established companies from unfair competition.

Potential product substitutes in the market include alternative interventional procedures such as atherectomy or stent placement, and non-invasive treatments like medication therapy. These alternatives may be considered based on patient-specific conditions and preferences, impacting the demand for PTA Balloon Catheters.

Market players are expanding regionally by entering new geographical markets, establishing partnerships with local distributors, and adapting products to meet specific regional healthcare needs.

Material Type Insights

The nylon segment held the largest share of over 48.98% in 2023 due to its unique properties that make it suitable for medical applications. One of these properties is its ability to stretch significantly when inflated. Nylon high-pressure balloons can stretch up to 100% to 800%, allowing them to fully conform to or occlude the anatomy. This flexibility is particularly useful in applications where the balloon must bridge a lesion, as it allows the balloon to adjust to the shape of the vessel being treated. Additionally, the thickness of the nylon balloon wall required for a given burst pressure means that the balloons have a broader profile when inserted into the body. This wider profile provides more surface area for the balloon to interact with the vessel walls, potentially improving the effectiveness of the treatment.

The polyurethane segment is expected to show lucrative growth during the forecast period.Polyurethane balloons offer excellent biocompatibility, making them safe for long-term implantation in the human body. They are also biodegradable, meaning they break down naturally over time, reducing the risk of causing adverse reactions in the body. These properties make polyurethane balloons an attractive choice for many medical procedures.

Application Insights

The peripheral artery disease segment held the largest share of 62.72% in 2023due to the increasing prevalence of the condition. According to AHA Journal published in 2021, the peripheral artery disease affects 200 million individuals worldwide. Moreover, the demand for PTA balloons in the treatment of PAD is further fueled by the fact that PAD is primarily caused by atherosclerotic disease, with similar risk factors as coronary artery disease. Effective diagnosis and management of atherosclerosis play a pivotal role in treating peripheral arterial disease, underscoring the significance of percutaneous transluminal angioplasty balloons as essential tools in its management. Moreover, the use of drug-eluting balloons, which deliver drugs directly to the site of inflammation, has become a common procedure in treating PAD, further driving the demand for PTA balloons in this application.

The coronary artery disease segment is expected to show lucrative growth during the forecast period due to its prevalence as a leading cause of death worldwide. For instance, as per CDC report published in 2021, about 375,476 people are died due to coronary artery disease. CAD is often associated with a sedentary lifestyle, leading to chronic conditions such as diabetes and cardiovascular ailments. Harmful habits like lack of physical activity, excessive alcohol consumption, unhealthy eating, and smoking contribute to a growing prevalence of obesity, which in turn leads to various cardiovascular diseases. This increased demand for surgical intervention for the treatment of these disorders has increased the demand for PTA balloon catheters.

End-use Insights

The hospital segment accounted for the largest revenue share of 40.59% in 2023 due to the increasing prevalence of cardiovascular diseases, the growing number of patient visits to hospitals for diagnosis, and the increasing number of cardiac implant procedures. Hospitals provide more advantages and options for better treatment services and equipment availability, leading to segment growth. The high number of surgeries performed in hospital settings due to credibility and the availability of highly reputed surgeons also leads to segment growth to cater to individual requirements, consolidating their stronghold in the market.

The ambulatory service center segment is estimated to register the fastest CAGR over the forecast period due to the rising difficulty in acquiring an appointment and surgery dates for recovery at hospitals, coupled with the high cost of services and long hospital stay periods. These centers offer lower costs, faster discharge times, and easier appointment scheduling compared to traditional hospitals. As a result, they have gained popularity among patients seeking medical treatment.

Regional Insights

North America dominated the overall PTA Balloon Catheter market with a share of 45.44% in 2023. This can be attributed to the favorable reimbursement policies, the introduction of new technologically advanced equipment & the presence of several key manufacturers. The rise in the prevalence of diabetes, government initiatives, and the introduction of several technologically advanced products by major players are driving the PTA balloon catheter 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 driving market growth.

The U.S. accounted for the largest share of the PTA Balloon Catheter market in North America region in 2023. The U.S. boasts a large patient population with a high prevalence of cardiovascular diseases, which often require interventions like angioplasty using PTA balloon catheters. This enables the country to be at the forefront of the PTA Balloon Catheters Market, with a high adoption rate of these devices due to their effectiveness in treating peripheral arterial diseases. Additionally, the presence of major market players, along with a well-established regulatory framework, contributes to the growth and dominance of the U.S. in this market.

The Asia Pacific region is expected to grow at the fastest rate during 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 BioMed central, one in every five adults in China suffers from cardiovascular disease. Furthermore, the aging populations in countries such as Japan & China, as well as growing disposable incomes, is expected to drive market expansion in the region. The growth of health tourism in developing nations is also contributing to the market growth in the region.

China accounted for the largest share of the PTA Balloon Catheter market in the Asia Pacific region in 2023 due to its rapidly growing healthcare sector, expanding medical infrastructure, and a large patient population. The country has witnessed substantial economic development, allowing for increased healthcare spending and investment in advanced medical technologies. Further, China's commitment to healthcare reform and improvement of medical services has driven the adoption of innovative medical devices like PTA balloon catheters, thereby contributing to the overall market growth.

Key PTA Balloon Catheter Company Insights

Some of the key players operating in the market include Medtronic, Cardinal Health and Boston Scientific Corporation. Company’s key strategies include understanding the strengths and weaknesses of major market participants, anticipating future market trends, opportunities, and challenges, and making proactive decisions based on insights into emerging technologies and changing consumer preferences.

Andratec and Natec Medical are some of the emerging market players in the PTA balloon catheters. These market players are continuously focused on niche segments, leveraging specialized technologies to differentiate themselves.

Recent Developments

• In January 2024, Cook Medical has declared that its Slip-Cath Beacon Tip hydrophilic selective catheter is accessible for utilization in both the U.S. and Canada.

• In June 2023, Cook Medical has announced the availability of its Advance Serenity hydrophilic percutaneous transluminal angioplasty balloon catheter product line in new size options and locations.

• In March 2023, BrosMed has declared the CE MDR approval for its Tiche 0.035 High Pressure PTA Balloon Dilatation Catheter, designed for addressing severely calcified peripheral vascular disease and challenging AV cases under the European Medical Device Regulation (MDR).

PTA Balloon Catheter Market Report Scope

Global PTA Balloon Catheter Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. for the purpose of this study, Grand View Research has segmented the global PTA Balloon Catheter market report on the basis of material type, application, end-use, and region:

• Material Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Polyurethane

  • Nylon

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Peripheral Artery Disease

  • Coronary Artery Disease

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospital

  • Ambulatory Surgical Centers

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait