PTA Balloon Catheters Devices Market Size was valued at USD 1.9 Billion in 2022. The PTA Balloon Catheters Devices industry is projected to grow from USD 2.1 Billion in 2023 to USD 3.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2023 - 2032). Growing healthcare expenditure, growing awareness and diagnostic techniques, and aging population are the key market drivers boosting the expansion of the market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for PTA balloon catheters devices is being driven by the growing consciousness and diagnostic methods. Utilized during a minimally invasive catheterization treatment, the PTA balloon catheter features an inflatable balloon at its tip. The balloon that has been deflated is placed in the constricted area, inflated for a brief while, and then deflated once more before being taken out. PTA balloons vary according to the anatomy they are meant to treat in terms of length, width, and form. Treatment options for peripheral vascular lesions with PTA balloon catheters are twofold. Increasing the clogged blood vessel's lumen is one method. "Plain-old balloon angioplasty" (POBA) is the term for this technique.
Additionally, PTA balloon catheter demand is driven by rising diagnosis rates brought on by improved diagnostic methods and growing awareness of the significance of early detection and treatment of vascular disorders. Modern medical devices as PTA balloon catheters for vascular treatments are more widely adopted when there is enhanced access to healthcare services and higher healthcare spending in a number of countries. PTA balloon catheters are essential tools for endovascular treatments such as stent implantation and angioplasty because they effectively treat arterial blockages and improve patients' recovery from surgery. PTA balloon catheter-based minimally invasive procedures are encouraged to be chosen by patients and healthcare professionals because to favorable payment policies and insurance coverage.
PTA balloon catheters are used because patients and healthcare providers want less intrusive treatments, and these devices allow for less invasive operations than typical surgical interventions. The efficacy and safety of PTA balloon catheters are improved by ongoing technological developments in medicine, such as the creation of sophisticated balloon materials, coating technologies, and catheter designs, which promotes their use. The incidence of vascular disorders and its associated problems is on the rise due to the aging population. PTA balloon catheters are more in demand because elderly people are more likely to have problems that call for vascular treatments.
For instance, a Pub Med Central report from 2021 states that the leading cause of death and loss of Disability Adjusted Life Years (DALYs) worldwide is coronary artery disease, Nearly 129 million DALYs are caused each year by low- and middle-income countries, who bear the brunt of this burden. Over the course of the forecast period, the growing prevalence of coronary artery disease among people is expected to drive up demand for catheters, which will in turn propel the growth of the PTA balloon catheter market. Thus, result in driving the PTA Balloon Catheters Devices market revenue.
The PTA Balloon Catheters Devices market segmentation, based on Material Types includes Polyurethane, and Nylon. The nylon segment dominated the market. The primary reason for this is the advantages of using nylon as the raw material in these devices; due to its softness, it can be refolded more quickly and withdrawn more easily into the introducer sheath or guiding catheter.
The PTA Balloon Catheters Devices market segmentation, based on Application, includes Coronary Artery Disease, and Peripheral Vascular Disease. The peripheral vascular disease category generated the most income. One of the main reasons propelling the peripheral vascular disorders application area is the aging population's rapid growth.
The PTA Balloon Catheters Devices market segmentation, based on End User includes Hospitals or Clinics, Ambulatory Surgery Centers, and Others. The hospitals or clinics segment dominated the market. The rising incidences of CVD, the rise in patient visits to hospitals for diagnosis, the rise in cardiac implant procedures, and the availability of payment for these treatments in developed markets are all responsible for this segment's size.
Figure1: PTA Balloon Catheters Devices Market, by End User, 2022&2032(USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American PTA Balloon Catheters Devices market area will dominate this market. Because of its advanced healthcare infrastructure and high healthcare spending, North America is a good place to start if you're looking to embrace PTA balloon catheters or other minimally invasive techniques.
Further, the major countries analyzed in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure2: PTA BALLOON CATHETERS DEVICES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe PTA Balloon Catheters Devices market has the second-largest portion of the market. Better diagnostic methods in the area together with heightened knowledge of cardiovascular health are the drivers for this market. Further, the German PTA Balloon Catheters Devices market held the largest proportion of the market, and the UK PTA Balloon Catheters Devices market was the European market with the quickest rate of growth.
The Asia-Pacific PTA Balloon Catheters Devices Market has the quickest predicted compound annual growth rate between 2023 and 2032. This is because the region's infrastructure is developing, and healthcare expenses are rising. Moreover, China’s PTA Balloon Catheters Devices market had the biggest market share, and the Indian PTA Balloon Catheters Devices market was the Asia-Pacific region's fastest-growing market.
PTA Balloon Catheters Devices Key Market Players& Competitive Insights
Leading market players are putting a lot of money in R&D to expand their product lines, which will help the PTA Balloon Catheters Devices market, grow even more. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. To grow and endure an increasingly cutthroat and dynamic market, PTA Balloon Catheters Devices industry must provide reasonably priced goods.
Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the PTA Balloon Catheters Devices industry to help customers and expand the market segment. In recent years, the PTA Balloon Catheters Devices industry has provided some of the biggest benefits to medicine. Major players in the PTA Balloon Catheters Devices market, including Medtronic plc, Terumo Corporation, Cook Medical, Natec Medical, AndraTec, Boston Scientific Corporation, Abbot, Koninklijke Philips, Biotronik, Medtronic plc, and others, are engaging in research and development activities in an effort to boost market demand.
Medtronic creates and produces medical devices for the management of long-term illnesses. With $30.6 billion in revenue in 2019, Medtronic saw a 2% rise from the year before. The business revealed a reorganization plan that year, which is anticipated to save $500 million to $700 million over the course of five years. As part of its reorganization efforts, Medtronic declared in 2022 that it would be selling two companies.
Terumo creates and distributes medical equipment for use in clinics and hospitals around the globe. Terumo announced an almost 12 billion yen increase in sales in 2019 over the previous fiscal year. In order to grow its DES business and get a foothold in the Chinese coronary stent market, Terumo purchased Essen Technology, a Chinese DES manufacturer, in the same year. Terumo and Orchestra BioMed announced a worldwide strategic alliance in 2022 to develop and market Virtue Sirolimus-Eluting Balloons (SEBs) for percutaneous coronary and peripheral procedures.
Key Companies in the PTA Balloon Catheters Devices market include
PTA Balloon Catheters Devices Industry Developments
January 2021: Biotronik declared the release of Biomonitor III, a new implantable cardiac monitor (ICM).
April 2020: Koninklijke Philips declared the opening of Philips Medical Alert Service, a new remote patient monitoring system.
March 2019: Koninklijke Philips has announced the release of DreamWisp, a new sleep apnea therapy mask.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 1.9 Billion |
| Market Size 2023 | USD 2.0 Billion |
| Market Size2032 | USD 3.6 Billion |
| Compound Annual Growth Rate (CAGR) | 7.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material Types, Application, End User, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | Â Medtronic plc, Terumo Corporation, Cook Medical, Natec Medical, AndraTec, Boston Scientific Corporation, Abbot, Koninklijke Philips, Biotronik, and Medtronic plc, |
| Key Market Opportunities | ·        The frequency of cardiovascular illnesses and technological advancements are decreasing the market's demand. |
| Key Market Dynamics | ·        The primary market-driving variables are growing healthcare expenditure and rising awareness and diagnostic techniques. |
Frequently Asked Questions (FAQ) :
In 2022, the market for PTA Balloon Catheters Devices was estimated to be worth USD 1.9 billion ly.
From 2023 to 2032, The (CAGR) for the market is predicted to be 7.50%.
North America held the most market share worldwide.
Boston Scientific Corporation, Terumo Corporation, Cardinal Health, Medtronic plc, Natec Medical, and AndraTec are the major companies in the market,.
In 2022, the market was dominated by the Nylon category.
In the market, Peripheral Vascular Disease held the most share.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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