Asia Pacific Balloon Catheters Market Report and Forecast 2024-2032

Asia Pacific Balloon Catheters Market Outlook

The global balloon catheters market size was valued at USD 4.5 billion in 2023, with Asia Pacific holding a significant market share. The market is driven by the rising prevalence of cardiovascular diseases. It is expected to grow at a CAGR of 6.5% during the forecast period of 2024-2032, with the values likely to attain USD 8.1 billion by 2032.

Key Takeaways

• In Asia Pacific, the prevalence of cardiovascular diseases is rising, with studies reporting that South Asians have the highest coronary artery disease (CAD) rate at 24%. The increasing disease burden directly impacts the market demand.

• The rising availability of advanced catheter-based systems is poised to influence the Asia Pacific balloon catheters market share. In April 2024, TekniPlex Healthcare showcased its recently added catheter design and manufacturing capabilities at the China International Medical Equipment Fair (CMEF) in Shanghai.

• One of the major market trends is the influx of growth capital to support the advancement of balloon catheter products. In April 2023, Innvolution Group secured funds from an investment firm, OrbiMed, to boost its research and development activities and enable market expansion of its interventional cardiology portfolio including balloon catheters.

Asia Pacific Balloon Catheters Market Analysis

Balloon catheters are specialized medical devices with a long, flexible tube with an inflatable balloon at its tip. Its application is primarily involved in angioplasty procedures, where it is used to open blocked or narrowed blood vessels and improve blood flow. Balloon catheters play a crucial role in minimally invasive procedures, leading to reduced recovery times and lower risk as compared to open surgeries. The rising patient inclination towards less invasive surgical techniques and the increasing use of the device in interventional cardiology is expected to drive the Asia Pacific balloon catheters market growth.

In Asia Pacific, the prevalence of cardiovascular diseases is rising, with studies reporting that South Asians have the highest coronary artery disease (CAD) rate at 24%. This increase is attributed to factors such as the growing elderly population and lifestyle changes. The high prevalence rate directly impacts the market demand as balloon catheters are widely used in treatments like angioplasty and stent placements. Moreover, the surge in the demand for these medical devices is also stimulating technological innovations and attracting substantial investments from key market players which is likely to fuel Asia Pacific balloon catheters market share.

In April 2024, TekniPlex Healthcare, a leading provider of medical device components and material science solutions, showcased its recently added catheter design and manufacturing capabilities at the China International Medical Equipment Fair (CMEF) in Shanghai. The company highlighted its PTA/PTCA Balloon Catheter Tubing for applications in coronary and non-coronary angioplasty applications. The product is manufactured and extruded in ISO-certified cleanrooms as well as holds the ability to incorporate up to three layers of specified raw materials. The rising availability of such product service solutions for catheter-based systems is anticipated to elevate the Asia Pacific balloon catheters market value in the forecast period.

One of the major market trends is surge in growth capital to support the advancement of balloon catheter products. In April 2023, India-based Innvolution Group secured funds from a global healthcare-focused investment firm, OrbiMed, to boost its research and development activities and accelerate market expansion. The company comprises two merged entities, Innvolution Healthcare Private Limited (IHPL) and Innovation Imaging Technologies Private Limited (IITPL), boasting a comprehensive portfolio in interventional cardiology including balloon catheters and drug-eluting stents. Such investment initiatives are expected to propel the market growth and support the development of innovative balloon catheter devices that deliver enhanced clinical outcomes.

Asia Pacific Balloon Catheters Market Segmentation

The report offers a detailed analysis of the market based on the following segments:

Asia Pacific Balloon Catheters Market: Competitor Landscape

The key features of the market report include patent analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Abbott Laboratories

• Becton Dickinson and Company

• Boston Scientific Corporation

• Stryker

• B.Braun Melsungen AG

• Johnson & Johnson

• Teleflex Incorporated

• Medtronic, Plc.

• Edwards Lifesciences Corporation

• BIOTRONIK.

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report