Balloon angioplasty is increasingly being used to carry out various specific tasks during surgeries, such as scoring, cutting, and drug eluting. Manufacturers of angioplasty balloons are focusing on improving patient outcomes by constantly upgrading their existing products. Balloon angioplasty is widely preferred for being minimally-invasive, and can be performed under local anaesthesia, wherein, the patient can be discharged within 24 hours after the surgery, in most cases. Moreover, drug-coated balloon angioplasty, in particular, results in significantly lower post-surgery care, and has been associated with lesser long-term reintervention rates as compared to regular angioplasty.
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On the back of these factors, Fact.MR estimates the global angioplasty balloons market to be valued at US$ 2.4 Bn in 2020. However, recent unfavourable changes in the reimbursement scenario are expected to peg market growth in the near future, with a projected CAGR of 3.5% over the forecast period (2020 to 2025).
Angioplasty Balloons Market: Key Takeaways
- Semi-compliant balloons are expected to be the most preferred angioplasty balloons, accounting for over three quarters of the market revenue. This is mainly due to their easy tracking and high resistance to punctures.
- Normal balloons, though having reached saturation, are expected to dominate the market in the foreseeable future, albeit at a slow growth rate.
- The high number of favourable patient outcomes position drug-coated angioplasty balloons on the fastest growth trajectory in the market.
- The high prevalence of cardiovascular diseases, and relatively favourable regulatory and reimbursement scenario, make North America the most preferred destination for angioplasty balloon manufacturers.
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Angioplasty Balloons Market – Assessment of the Segmentation
The global angioplasty balloons market is segmented based on the balloon type, material, and geography.
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| Material |
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Analysts at Fact.MR opine that, Asia Pacific is emerging as a rapidly-growing regional market, due to the development of healthcare infrastructure and increase in medical expenditure in the region. This would be particularly significant during the forecast period, as the incidence of CVD is set to grow, alongside increased healthcare spending in APAC. These factors are opening up a plethora of opportunities for manufacturers in the APAC angioplasty balloons market.
Competitive Pricing Impeding Market from Realizing its True Potential
A decline in the average selling price of angioplasty balloons has been observed in recent years, which is likely to act as a restraint to the growth of the global market.
While the prevalence of the disease and demand for treatment is set to rise, this decline in average price is expected to have a negative impact on the overall revenue of the landscape.
This can be explained by various players looking to retain their competitive edge in regional markets, by adopting competitive pricing strategies, adversely impacting the revenue of the overall angioplasty balloons market.
For More Insight- https://www.factmr.com/article/124/latest-trends-in-the-healthcare-industry-how-has-it-transformed-businesses
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