Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloon Catheter Market is Estimated to Witness High Growth, Owing to Increasing Incidence of Cardiovascular Diseases and Technological Advancements
The percutaneous transluminal coronary angioplasty (PTCA) balloon catheter market is estimated to be valued at USD 2.59 Bn in 2024, exhibiting a CAGR of 9.6% over the forecast period (2024-2031). Furthermore, growing prevalence of cardiovascular diseases globally coupled with rising demand for minimally invasive procedures are expected to fuel the market growth during the forecast period.
Market Dynamics:
Increasing incidence of cardiovascular diseases and technological advancements are the major drivers propelling the growth of the percutaneous transluminal coronary angioplasty (PTCA) balloon catheter market. The rising cases of hypertension, coronary artery disease, and other heart conditions have significantly contributed to the growing demand for PTCA procedures. According to the World Health Organization, cardiovascular diseases are the leading cause of death globally, accounting for over 17.9 million deaths each year. Meanwhile, continuous innovations in PTCA balloon catheters such as lower profiles, steerable, and scoring catheters are helping physicians to effectively perform complex angioplasty procedures, thus increasing the adoption of PTCA globally. Newer drug-coated balloons have also emerged as an alternative to drug-eluting stents, thus expanding the clinical applications of PTCA.
Increasing Prevalence of Cardiovascular Diseases is Driving Growth in the percutaneous transluminal coronary angioplasty (PTCA) balloon catheter market
Cardiovascular diseases (CVDs) have become one of the leading causes of death globally. In 2021, according to the World Health Organization, CVDs account for over 17.9 million deaths per year, which is estimated to grow to over 23.6 million by 2030. Coronary heart disease caused by the buildup of plaques in the coronary arteries is a major contributor to CVD mortality. PTCA or angioplasty using balloon catheters is a minimally invasive procedure to treat coronary artery diseases by dilating the blocked arteries. The rising disease burden of CVDs, especially coronary artery diseases, has resulted in increased demand for PTCA procedures, fueling the growth of the global percutaneous transluminal coronary angioplasty (PTCA) balloon catheter market
Technological Advancements in PTCA Balloon Catheters are Driving their Adoption
Manufacturers are continuously innovating and developing advanced PTCA balloon catheters with improved features to deliver better clinical outcomes. Some of the key technological advancements include drug-coated balloons to deliver medications directly into the artery walls, cutting, or scoring balloons equipped with blades or laser to incise and dilate severely block arteries, and balloons with layered or bonded coating for optimal performance. The availability of innovative balloons catering to complex disease conditions is driving physicians to adopt new technologies, thereby supporting the growth of the percutaneous transluminal coronary angioplasty (PTCA) balloon catheter market.
Reimbursement Issues Related to PTCA Procedures act as a Market Restraint
The cost of PTCA procedures using advanced balloon catheter technologies is very high. However, not all PTCA procedures receive full reimbursement by insurance payers or governments, posing financial constraints. Additionally, coverage policies differ significantly among private and public payers. Uncertainty over payment approval and inadequate reimbursements discourages healthcare providers from procuring premium PTCA devices, negatively impacting the overall market potential. This acts as a critical growth deterrent for the percutaneous transluminal coronary angioplasty (PTCA) balloon catheter market.
Product Recalls due to Safety Issues Hamper Market Confidence
PTCA balloons and catheters are invasive medical devices associated with risks if defects occur. Incidents of product recalls in the past due to manufacturing or design issues that compromise patient safety shake the confidence of healthcare providers in certain brands. For instance, in 2020, Medtronic, a medical device company, issued a voluntary recall of select coronary balloon catheters over potential manufacturing deviations. Such recalls force hospitals and labs to remove affected devices from use until issues are addressed, disrupting their supplies and procedures. Frequent recalls cast doubts on product reliability, restricting the percutaneous transluminal coronary angioplasty (PTCA) balloon catheter market expansion.
Increase in Outpatient PTCA Procedures Present High-growth Opportunities
Historically, most PTCA procedures were performed during inpatient hospital admissions. However, advancements enable many low-risk cases to be treated on an outpatient basis. The shift towards non-invasive, same-day discharge angioplasty reduces healthcare costs, and improves patient convenience. It has boosted the procedure volumes significantly. The rising preference for outpatient care calls for portable, compact balloon catheter configurations that facilitate ease of use in ambulatory settings. This trend provides lucrative opportunities for market players to increase their revenues through product extensions catering to outpatient PTCA needs.
Emerging Economies with Growing Heart Disease Burden to Drive Future Demand
Emerging countries in Asia Pacific and Latin America are experiencing rapid economic growth and development. But with development comes increased sedentary lifestyles and risk factors leading to an upsurge in non-communicable diseases like CVDs. While interventional cardiology is still in its introductory phase in many emerging nations and rising disease prevalence are expected to instigate higher adoption of advanced treatment procedures like PTCA. This untapped market potential in developing regions offers vast opportunities for PTCA balloon catheter manufacturers to penetrate new geographical territories and expand their future revenues.
Key Developments:
- On August 5, 2024, Teleflex Incorporated, a medical device company, announced that the U.S. Food and Drug Administration (FDA) 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 that, when inflated, approximates a hollow cylinder with 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 Player:
Boston Scientific Corporation, Cardinal Health, BD, Medtronic, Terumo Medical Corporation, Cook Medical, Biotronik, AndraTec, Natec Medical, Shockwave Medical Inc, Nipro Group Companies, Teleflex Incorporated, and MicroPort Scientific Corporation
