Zion Market Research has published a new report titled “Angioplasty Balloons Market by Product (Drug Eluting Balloons, Normal Balloons, Cutting Balloons, and Scoring Balloons), and by Material (Semi-Compliant Balloons and Non-Compliant Balloons): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2026.” According to the report, the Angioplasty Balloons Market accounted for USD 2.22 Billion in 2019 and is expected to reach USD 2.97 Billion by 2026, growing at a CAGR of around 4.3% between 2020 and 2026.
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Increasing cases of target disease to drive the global demand for angioplasty balloons market
As per the analysts at Zion Market Research, the global angioplasty balloons market is majorly boosted by increasing cases of target disease such as diabetes and peripheral artery diseases. Other major catalysts for the development of angioplasty balloons market are increasing elderly population paired with launch of technologically enhanced diagnostics. On the other hand, rise in number of market players has led to cost war, which is a primary limitation that might hinder the growth of the global angioplasty balloons market. Nevertheless, emerging markets and technological enactments all over the world are expected to reveal new growth opportunities for angioplasty balloons market in the years to come.
Various research and development activities carried out academic bodies is also set to develop the global angioplasty balloons market. For example, in June 2016, angioplasty using paclitaxel coated balloon lowers restenosis in peripheral artery disease. This was claimed in a study that was published in the New England Journal of Medicine.
Latin America to display noticeable development in global angioplasty balloons market in the years to come
The global angioplasty balloons market is divided based on of various products including normal balloon, drug eluting balloons, scoring balloon, and cutting balloon. In 2019, normal balloon division was the biggest division in angioplasty balloons market and added up for biggest share of the entire market. Normal balloon division is likely to carry on its supremacy in the angioplasty balloons market in the years to come.
Europe, North America, Latin America, Asia Pacific, and Middle East & Africa are major regional divisions of global angioplasty balloons market. North America is likely to stay the dominant area in the global market over the forecast period. Europe was 2nd biggest area in 2019 for angioplasty balloons market. Asia Pacific is likely to be the quickest developing region in angioplasty balloons market in the years to come. In addition to this, Latin America is also likely to display noticeable development for global angioplasty balloons market in the coming years.
Some of the key players in angioplasty balloons market are NATEC Medical, Cook Medical, Medtronic plc, C.R. Bard Inc., Boston Scientific Corporation, Spectranetics Corporation, ENDOCOR GmbH, BIOTRONIK SE & CO. KG, Cordis Corporation, Abbott Laboratories and Opto Circuits Ltd. among others.
The global angioplasty balloons market is segmented as follows:
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