Global Balloon Catheters Market Report and Forecast 2024-2032

Global Balloon Catheters Market Outlook

The global balloon catheters market size was valued at USD 4.5 billion in 2023, driven by the rising prevalence of cardiovascular diseases across the globe. The market is expected to grow at a CAGR of 6.5% during the forecast period of 2024-2032, with the values likely to rise from USD 4.8 billion in 2024 to USD 8.1 billion by 2032.

Key Takeaways

• Cardiovascular disease (CVD) ranks as the leading cause of mortality globally, with recent data estimating that approximately 620 million individuals  are affected by heart and circulatory diseases.

• In December 2023, the United States Food and Drug Administration (FDA) approved the Finesse Injectable angioplasty balloon catheters developed by Summa Therapeutics, LLC. It can be used for the percutaneous transluminal angioplasty (PTA) treatment of peripheral artery disease.

• The rising healthcare infrastructure investments and growing demand for minimally invasive procedures are key factors elevating the balloon catheter market value.

Balloon catheters comprise an inflatable balloon at the tip which can be often used to enlarge a narrow opening during a catheterization procedure. After the inflated balloon performs the procedure, it is deflated to remove it from the body. Balloon catheters with over-the-wire (OTW) or rapid exchange (Rx) designs are often employed during angioplasty procedures.

Balloon catheters are considered pivotal in revolutionizing minimally invasive procedures. As a result, it is experiencing high demand in the market for various medical procedures, including angioplasty and stenting. The market holds high value which can be attributed to the rising prevalence of cardiovascular diseases, growing geriatric population, and the increased adoption of technologically advanced balloon catheter technologies.

Global Balloon Catheters Market Trends

The rising technological advancement, miniaturization of devices, increased application of balloon catheters in minimally invasive procedures, and the growing geriatric population comprise some of the key trends and developments in the market.

Global Balloon Catheters Market Growth Factors

The market is driven by the surge in novel product approvals by health regulatory agencies such as the United States Food and Drug Administration (FDA). The accelerated regulatory approvals for balloon catheter products foster accessibility and subsequent adoption of these advanced technologies in the healthcare sector. Moreover, it encourages health technology companies to invest significantly in the development of such products, which is expected to boost the balloon catheter market size.

The increased strategic partnerships among the key market players, rising healthcare spending, and heightened public awareness about cardiovascular health are likely to augment the market size for balloon catheters. Moreover, increased innovations in the material technology of balloon catheters such as the use of advanced polymers are also expected to drive market growth in the forecast period.

Global Balloon Catheters Market Segmentation

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

By product, the market includes rapid exchange (RX) balloon catheters, over-the-wire (OTW) balloon catheters, drug eluting balloon catheters, and stent graft balloon catheters, among others. The demand for balloon catheters is expected to rise owing to the rising prevalence of chronic heart diseases and increased healthcare expenditure.

In terms of indication, balloon catheters are utilized primarily in the treatment of coronary artery disease and peripheral vascular disease. These devices help in addressing blockages and narrowing of blood vessels in the heart and peripheral arteries.

By end users, the balloon catheters market share includes hospitals, ambulatory surgical centers, and other healthcare facilities where interventional procedures are performed for patients with cardiovascular conditions.

On the basis of region, the market report covers North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Regional disparities exist in the markets depending on variables such as healthcare infrastructure, the prevalence of cardiovascular diseases, and the regulatory framework in the region.

Global Balloon Catheters Market: Competitive Landscape

The key market players are contributing to the balloon catheters market growth through innovative product launches, increased investments, and continuous research and development initiatives aimed at technological advancement.

Other key players in the market include Biotronik, Shanghai MicroPort Medical (Group) Co., Ltd., Artivion, Inc, B. Braun SE, Cook Group Incorporated, Becton, Dickinson and Company, Cardinal Health, Terumo Medical Corporation, Coloplast Group, Lepu Medical Technology (Beijing) Co., Ltd., and INVAMED.

Global Balloon Catheters Market Analysis by Region

North America holds a significant share of the market which can be attributed to the presence of an advanced healthcare system and increased demand for minimally invasive interventions. Further, the rising elderly population with a high risk of having heart and circulatory conditions, the surge in product approvals by regulatory bodies, and robust research and development initiatives are some of the factors that are expected to boost market growth in the forecast period.

In Europe, the balloon catheter market size is experiencing a steady expansion due to the rising prevalence of cardiovascular diseases in the region. It is estimated that around 45% of mortality in Europe is caused by cardiovascular diseases, which indicates the need for appropriate interventions such as advanced balloon catheter technology to tackle the rising disease burden. Moreover, the presence of leading marketing players and premium research institutes directly impacts the market dynamics in this regional market.

Key Highlights of the Report