DUBLIN--(BUSINESS WIRE)--The "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 has been added to ResearchAndMarkets.com's offering.
The global PTA balloon catheter market size is expected to reach USD 6.0 billion by 2030 The market is expected to expand at a CAGR of 9.92% from 2022 to 2030.
Companies Mentioned
- Medtronic
- Terumo Corporation
- Cardinal Health
- Boston Scientific Corporation
- Natec Medical
- Cook Medical
- Biotronik
- Surmodics, Inc.
- Andratec
The increasing incidence of peripheral artery disorder and the rising number of Percutaneous Coronary Intervention (PCI) procedures in developing countries are key factors driving the market.
The adoption of a sedentary lifestyle by most of the population has increased the prevalence rate of various types of cardiovascular diseases worldwide. An increase in the number of cases of cardiovascular diseases across the globe is expected to boost the adoption of various procedures-such as cardiac catheterizations, angioplasty, and Percutaneous Coronary Intervention (PCI)-to treat such conditions, wherein PTA balloon catheters are among the essential requirements.
The COVID-19 pandemic resulted in a decline in the number of patient encounters, leading to a reduction in the demand for surgical procedures, thereby impacting the industry growth. According to Elsevier, the number of coronary angioplasty surgeries was 11.2% in 2020, which is lower than the previously reported data.
According to the National Library of Medicine, the U.S. witnessed a 52.7% decline in adult cardiac surgeries in 2020. In the later phase, as the restrictions were lifted in several countries, the volume of cardiac and peripheral surgical procedures increased. This is expected to increase the demand for angioplasty surgical devices such as PTA balloon catheters.
PTA Balloon Catheter Market Report Highlights
- North America dominated the market in 2021. This can be attributed to the higher product availability, high demand for surgical procedures, and better awareness in the region
- Asia Pacific is expected to exhibit the fastest growth rate during the forecast period due to government initiatives and increasing incidence of target disorders
- Supportive government regulations to commercialize medical devices in Latin America are expected to impel industry growth. For instance, most Latin American countries only require the U.S. FDA or CE mark approval for filing marketing approvals
- Incorporation of the latest health technologies, partnerships and collaborations, product expansion, and mergers & acquisitions are some of the strategies being adopted by key players to gain a competitive edge in the market. For instance, in February 2022, Boston Scientific Corporation acquired Baylis Medical Company, Inc., a medical device company primarily providing solutions to support catheter-based left heart procedures
- The shortage of cardiac surgeons worldwide is a big concern. Low-income countries are facing this issue more severely. For instance, North Africa has only one surgeon per 1.1 million people. This is resulting in restricting the number of surgeries that could be performed, hindering industry growth
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Dynamics
3.1.1 Market Driver Analysis
3.1.1.1 Increasing prevalence of cardiovascular disorders
3.1.1.2 Rising demand for minimally invasive procedures
3.1.1.3 Fewer substitutes in the market
3.1.2 Market Restraint Analysis
3.1.2.1 Stringent regulatory policies related to the product approval
3.1.2.2 Risk associated with the catheterization procedures
3.2 Business Environment Analysis Tools
3.3 Impact of COVID-19
Chapter 4 PTA Balloon Catheter Market: Regional Analysis
Chapter 5 Competitive Analysis
5.1 Recent Developments & Impact Analysis, by Key Market Participants
5.2 Competition Categorization (Key innovators, Market leaders, Emerging players)
5.3 Company Profiles
5.4 Company Market Position Analysis
For more information about this report visit https://www.researchandmarkets.com/r/icbzfl
