Percutaneous Transluminal Angioplasty Balloons Catheter Market is Estimated to Witness High Growth, Due to Increasing Geriatric Population & Growing Prevalence of Cardiovascular Diseases
Percutaneous transluminal angioplasty balloons catheter market is estimated to be valued at USD 1.82 Bn in 2024, exhibiting a CAGR of 9.1% over the forecast period (2024-2031). Growing geriatric population suffering from chronic diseases such as CVDs and cancer can drive the market growth.
Market Dynamics
Percutaneous transluminal angioplasty balloons catheter market growth is driven by growing geriatric population and increasing prevalence of cardiovascular diseases. Growing geriatric population is more susceptible to CVDs due to age-related wear and tear of arteries. Moreover, risk factors such as sedentary lifestyle, obesity and high blood pressure rates have contributed to increasing incidence of CVDs. Coronary angioplasty using PTCA balloons is a minimally invasive procedure to open blocked arteries and treat various cardiovascular conditions. Therefore, rising cases of CVDs can boost demand for PTCA balloons catheters over the forecast period.
Market Drivers for Percutaneous Transluminal Angioplasty Balloons Catheter Market
Increasing prevalence of cardiovascular diseases
Cardiovascular diseases have become one of the leading causes of death globally. Percutaneous transluminal angioplasty using balloons catheters is a minimally invasive procedure that is used to treat these conditions. With more people being diagnosed with cardiovascular problems, there will be huge demand for PTCA balloons catheters.
Growing geriatric population
Age is one of the biggest risk factors for cardiovascular diseases. The number of elderly people aged 65 years or more is growing significantly across major economies, and these are more prone to issues like narrowed arteries. As life expectancy increases worldwide, aging population will boost greater need for procedures like PTCA that use balloons catheters. Their effectiveness in treating vascular blockages without the need for surgery makes them ideal for older patients.
Market Restraints for Percutaneous Transluminal Angioplasty Balloons Catheter Market
Availability of alternative treatment methods
While PTCA using balloons catheters is minimally invasive, there are other treatment options available for vascular diseases as well. Procedures like coronary artery bypass grafting provide longer term relief but are more complex surgical methods. Drug eluting stents are also increasingly used in place of plain old balloons for angioplasty. This availability of alternative choices can limit the complete reliance on PTCA balloons catheters.
Stringent regulatory framework
As PTCA balloons catheters are classified as class III medical devices, these are subject to rigorous scrutiny and approvals. Regulatory bodies like the U.S. FDA impose strict quality standards and evaluation protocols. Given the invasive nature of these devices, gaining approvals is a long drawn process. Any changes to approved designs also need re-clearance. This regulatory complexity poses a restraint for new market entrants as well as product innovations.
Market Opportunities for Percutaneous Transluminal Angioplasty Balloons Catheter Market
Emerging economies with large patient pools
The majority of the demand is now coming from developed countries, but the cardiovascular disease burden is migrating to developing regions in Asia Pacific and Latin America. These emerging economies have huge underpenetrated populations in need of angiography and angioplasty procedures. As healthcare infrastructure and accessibility improve in these markets, it will open up new expansion avenues.
Development of technologically advanced products
Continuous R&D allow manufacturers to launch enhanced PTCA balloons with better compliance, deliverability and trackability. There is scope for developing smart balloons integrated with sensors for pressure monitoring. Tailor-made catheters for specific vascular access routes can also widen the addressable market scope. Focus on next-gen products can sustain market opportunities.
Key Developments
- On August 5, 2024, Teleflex Incorporated, a medical device company, announced that the U.S. Food and Drug Administration had approved its percutaneous transluminal coronary angioplasty perfusion balloon catheter. The perfusion balloon catheter (Ringer) is a rapid-exchange 0.014” compatible catheter with a helical balloon having a large central perfusion lumen allowing for continuous blood flow during prolonged inflations
- On May 3, 2024, Swanson School of Engineering - University of Pittsburgh, announced that it had received approximately US$ 1.1 million from the South Korean Ministry of Health and Welfare’s Healthcare Technology Research and Development Project to revolutionize the design of the coronary balloon device
- In March 2021, Medtronic, a medical technology company, announced the launch of its Chameleon percutaneous transluminal angioplasty (PTA) balloon catheter in the following countries: Germany, Italy, Portugal, South Africa, Spain, and Turkey. The device is indicated for use in native or synthetic arteriovenous dialysis fistulae, as well as femoral, iliac, and renal arteries.
Key Players
Boston Scientific Corporation, Cardinal Health, BD, Medtronic, Terumo Medical Corporation, Cook Medical, Biotronik, AndraTec, Natec Medical, Shockwave Medical Inc., Abbott, Nipro Group Companies, Teleflex Incorporated, MicroPort Scientific Corporation
