Medical Rubber and Balloon Product: Increasing need of medical equipment accessories and surgical products is expected to boost the market growth during the forecast period 2022-2030

Pune, India, January 2022/MRFR Press Release/- Market Research Future has a half cooked research report on the global medical rubber and balloon product market.

Market Highlights

The Medical Rubber Balloon Products Market is expected to reach USD 2121.58 Million by 2030 at 4.10% CAGR during the forecast period 2022-2030.

The global medical rubber and balloon product market has been showing significant growth in the coming years and it is estimated that the market will have high demand for this product. The global medical rubber and balloon product market is undergoing a rapid change due to the advance technology and market players involvement. Developed countries are increasing their investment for introducing better products in the market. According to the International Monetary Fund (IMF), in 2016, research and development spending of U.S. was 527.5 billion and, the U.S. economy grew in 2016 by 1.6%.

Current considerations and measures have brought into examinations. The competence of existing regulatory frameworks for medical devices and it’s accessories in developed and developing regions for the devices performance, quality and safety. The mounting number and complexity of medical devices and its accessories have introduced regulatory challenges. The challenges are related to the design of the device and accessories. Also the design, size, shape and other features are also important for the safety of the doctors and nurses, ward boys and cleaners. As rubbers are used for developing these products which are used for the dental, obstetrics, respiratory and many more. Thus, formulation of rubber and polymers are designed to maintain the quality and elasticity of the rubber.

With the increasing prevalence of diseases, the demand of medical rubber and balloon products is expected to be enormous. Thus, this will eventually increase the demand for devices and accessories and different balloons for various surgeries.

Regional Analysis

The Americas dominate the global medical rubber and balloon product market owing to the presence of a huge patient population with chronic disease, and increasing government support for research & development.

Europe holds the second largest share of the global medical rubber and balloon product market. Increase in the cardiovascular disease leads the market of medical rubber and balloon product in this region. According to the European Heart Network (2017), cardiovascular diseases (CVD) are responsible for 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU) per year. Moreover, in 2015, 11.3 million new cases were diagnosed with CVD in Europe and 6.1 million new cases of CVD in the EU. The constantly increasing number of patients with these diseases drives the market.

Asia Pacific is the fastest growing medical rubber and balloon product market across the globe. Moreover, rapidly developing economy, increasing healthcare expenditure, and the government’s initiatives for research & development projected to drive the market over the forecast period.

The Middle East and Africa hold the least share of the global market due to limited availability of medical facilities, limited access to the healthcare resources. 

Segmentation

The global medical rubber and balloon product market is segmented on the basis of types and application. On the basis of the type, it is segmented into natural rubber latex, catheters, balloons, condoms, and others. Furthermore natural rubber latex is segmented into medical gloves and non-medical gloves. Catheters segmented into cardiovascular catheters, neurovascular catheters, urological catheters, and specialty catheters. Balloons segmented into non-compliant balloon and semi-compliant balloon. On the basis of the application, it is segmented into diagnostics, therapeutics, industrial, and others.

Key Players

Some of the major players in the global medical rubber and balloon product market are Abbott Laboratories (U.S.), Adventa Berhad (Malaysia), AngioDynamics, Inc. (U.S.), Ansell Healthcare (Australia), Arrow International (New Zealand), Astra Tech, Inc. (U.S.), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (U.S.), Hartalega Holdings Berhad (Malaysia), Church & Dwight Co, Inc. (U.S.), Latexx Partners Berhad (Malaysia), Reckitt Benckiser Group (U.K), and others.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Medical Rubber Balloon Products Market Research Report

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