Cutting Angioplasty Balloon Market
Number of pages: 100 | Report Format: PDF | Published date: April 26, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 218.38 million |
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Revenue Forecast in 2031 |
US$ 356.56 million |
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CAGR |
6.32% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Product Type, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global cutting angioplasty balloon market was valued at US$ 218.38 million in 2022 and is expected to register a revenue CAGR of 6.32% to reach US$ 356.56 million by 2031.
Cutting Angioplasty Balloon Market Fundamentals
Cutting angioplasty balloon is a medical device used in interventional cardiology to treat clogged or constricted blood vessels, particularly those in the coronary arteries. It is an angioplasty balloon featuring cutting or scoring components on its surface that efficiently addresses calcified, fibrotic, or refractory plaque within blood arteries. The balloon's cutting features enable accurate and controlled scoring of the plaque, allowing for greater vessel expansion and blood flow restoration. Cutting angioplasty balloons are frequently used with stents to maximize the treatment of coronary artery disease, which is the major cause of global heat-related diseases and mortality.
Significant breakthroughs in cutting angioplasty balloon technology have occurred in recent years, spurred by the demand for more effective treatment options for complicated lesions in coronary arteries. One significant trend is developing higher-pressure cutting angioplasty balloons with better plaque-scoring capabilities, allowing for more plaque modification and blood artery enlargement. These high-pressure cutting balloons enhance therapeutic results, particularly when standard angioplasty balloons may be ineffective in tackling severely calcified or resistant plaques.
The incorporation of drug-eluting capabilities is another trend in cutting-edge angioplasty balloon technology. Medicine-eluting cutting angioplasty balloons are coated with a specific medicine released during balloon inflation, delivering the treatment directly to the plaque and reducing the chance of restenosis or re-narrowing of the blood arteries. This combination of cutting and drug-eluting technology has demonstrated encouraging results in increasing angioplasty procedure long-term success and decreasing the need for recurrent treatments.
Market Players in the cutting angioplasty balloon sector are employing various techniques to enhance their income and market share. One significant strategy is investing in research and development to create creative cutting-edge angioplasty balloon technologies with superior performance characteristics, such as greater pressure capabilities, drug-eluting properties, and enhanced cross-ability. Furthermore, market participants are focused on increasing their product portfolios to appeal to a wider variety of clinical applications and patient demographics.
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Cutting Angioplasty Balloon Market Dynamics
The increasing prevalence of cardiovascular diseases drives the demand to cut the angioplasty balloons market. For instance, according to the Centers for Diseases Control and Prevention (CDC), around 805,000 people in the United States suffer from a heart attack every year. 605,000 of these are first-time heart attacks. 200,000 occur in patients who have previously suffered a heart attack. Cutting angioplasty balloon is often used to treat many heart diseases such as coronary artery disease and peripheral artery disease.
Technological advancements and the growing preference for minimally invasive procedures influence the revenue growth of the cutting angioplasty balloons market. The drug-coated cutting balloon is a major advancement in the field of angioplasty. It is designed to deliver medications directly to the site of the blockage during the procedure, reducing the risk of restenosis and improving patient outcomes. This technology effectively treats complex lesions and has become a popular choice among interventional cardiologists. Moreover, these advancements have led to the development of more precise and efficient angioplasty balloons, improving patient outcomes and reducing the risk of complications. Additionally, the use of advanced imaging techniques during angioplasty procedures has further enhanced the accuracy and effectiveness of these devices.
Minimally invasive treatments, such as angioplasty, are becoming more popular because they have a lower risk of complications, shorter hospital stays, and faster recovery than traditional open operations. Cutting angioplasty balloons are in high demand as a minimally invasive treatment option for coronary artery disease because they provide patients and clinicians with a less invasive option for treating restricted or blocked blood arteries. These balloons are directed to the afflicted location by a tiny incision in the skin and inflated to free up the clogged artery. This surgery is frequently performed as an outpatient operation, allowing patients to return home the same day.
One of the major restraining factors in the cutting angioplasty balloon market is the high cost associated with the procedure. Additionally, the lack of skilled professionals and the limited availability of advanced medical facilities in certain regions also pose a challenge to market growth.
Cutting Angioplasty Balloon Market Ecosystem
The global cutting angioplasty balloon market is analyzed from the following perspectives: product type, application, end user, and region.
Cutting Angioplasty Balloon Market by Product Type
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Based on the product type, the global cutting angioplasty balloon market is segmented into conventional cutting balloons, drug-coated cutting balloons, and scoring balloons.
The conventional cutting balloons segment dominated the global cutting angioplasty balloon market with a high revenue share in 2022. Conventional cutting balloons treat arterial blockages by inflating and deflating them to break up plaque. They have been shown to effectively improve blood flow and reduce the need for further interventions. Furthermore, conventional cutting balloons have minimal side effects and can be easily administered in an outpatient setting, making them a promising option for patients with vascular conditions.
The drug-coated balloons segment is expected to grow in the forecast years. This growth is attributed to the increasing prevalence of cardiovascular diseases and the advantages of drug-coated balloons over traditional treatment methods. Moreover, drug-coated balloons are promising because they can deliver medication directly to the affected area, reducing the risk of systemic side effects. Additionally, they effectively prevent restenosis, or the re-narrowing of blood vessels after a procedure.
Cutting Angioplasty Balloon Market by Application
Based on application, the global cutting angioplasty balloon market is segmented into peripheral and coronary artery diseases.
In 2022, the coronary artery diseases segment held most of the global cutting angioplasty balloon market revenue share. This can be attributed to the increasing prevalence of coronary artery diseases worldwide. Additionally, the growing adoption of minimally invasive surgical procedures for treating these diseases is expected to further drive the segment growth during the forecast period. Moreover, Cutting angioplasty balloons have several advantages in treating coronary artery diseases, including improved stent delivery, reduced risk of dissection, and better expansion of the stent. Additionally, cutting balloons may decrease the need for repeat procedures and improve long-term outcomes.
Cutting Angioplasty Balloon Market by End User
Based on end user, the global cutting angioplasty balloon market is segmented into cardiac centers, hospitals, and others.
The hospital's segment accounted for the majority of revenue share in 2022. This can be attributed to the availability of advanced medical facilities and skilled healthcare professionals in hospitals. Furthermore, the increasing prevalence of chronic diseases and the growing demand for specialized treatments are expected to further drive the growth of the hospital segment in the coming years. Moreover, the rising geriatric population and the adoption of telemedicine services offered by hospitals are also anticipated to contribute to the expansion of the hospital industry.
The cardiac center's segment is expected to show high growth in the forecast years due to the presence of advanced medical facilities in these centers, which offer minimally invasive procedures such as cutting angioplasty balloons. Additionally, the rising demand for efficient and cost-effective treatment options is also anticipated to drive the growth of this segment in the coming years.
Cutting Angioplasty Balloon Market by Region
Based on the region, the global cutting angioplasty balloon market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for most of the market revenue share for the cutting angioplasty balloon market in 2022. This is due to the increasing prevalence of cardiovascular diseases and the growing adoption of minimally invasive procedures in the region, which drive the demand for cutting angioplasty balloons. In addition, the presence of key market players and favorable reimbursement policies in North America are also contributing to the growth of the cutting angioplasty balloon market in the region.
The European cutting angioplasty balloon market is characterized by a well-established healthcare infrastructure, driving the demand for cutting angioplasty balloons in cardiac centers and hospitals. Additionally, key market players' increasing investments in research and development activities are expected to boost regional market growth further.
The Asia Pacific cutting angioplasty balloon market is expected to grow higher in the forecast years. This growth can be attributed to the increasing prevalence of cardiovascular diseases in the region and the rising adoption of minimally invasive surgical procedures. Additionally, favorable government initiatives and increasing healthcare expenditure are expected to drive market growth in the Asia Pacific.
Cutting Angioplasty Balloon Market Competitive Landscape
The cutting angioplasty balloon market's competitive landscape is highly fragmented, with several key players. Some of the major players operating in the market are focusing on research and development activities to introduce innovative products. They are also adopting various strategies such as mergers and acquisitions, partnerships, and collaborations to expand their market share and strengthen their position in the industry.
Some of the prominent companies having the largest revenue share in the global cutting angioplasty balloon market are,
Cutting Angioplasty Balloon Market Recent Developments
The cutting angioplasty balloon market is expected to experience significant growth in the coming years due to the increasing prevalence of cardiovascular diseases and the growing demand for minimally invasive procedures. Technological advancements in cutting balloon catheters will likely drive market growth by improving their safety and efficacy.
The global cutting angioplasty balloon market was valued at US$ 36.6 million in 2022.
Some major strategies key market players adopt in the cutting angioplasty balloon market include mergers and acquisitions, collaborations, partnerships, and product launches. These strategies help companies to expand their market presence and strengthen their position in the competitive landscape.
The hospital's segment accounted for the majority of revenue share in 2022.
The global cutting angioplasty balloon market is expected to register a revenue CAGR of 6.32% during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain