Angioplasty Balloons Market Report

Cardiovascular diseases are increasing at an alarming rate throughout the world. In accordance with the most recent Global Burden of Disease database numbers, more than 60 million people in the EU have CVD and about 13 million new cases are diagnosed each year. As stated by the CDC, chemicals in cigarette smoke cause blood to thicken and form clots inside veins and arteries. A clot blockage can result in a heart attack and death. According to Our World Statistics, about one-quarter (23%) of adults globally smoke tobacco. The mentioned factors are projected to fuel market expansion over the forecast period. Furthermore, increasing innovative launches by industry competitors to fulfil rising demand are likely to drive market growth. For instance, BIOTRONIK introduced Oscar Multifunctional Peripheral Catheter in February 2023. In the United States, physicians have already used the innovative device in more than 70 cases. Oscar is meant for percutaneous transluminal procedures in the peripheral vascular, as indicated in the Instructions for Usage.

In developing economies, a lack of awareness will hinder market expansion. Furthermore, a lack of skilled healthcare workers, high surgical procedure costs, and a lack of an adequate reimbursement scenario in developing and undeveloped countries all contributes towards market challenges. Additionally, the rising frequency of product recalls and clinical risks or complications associated with surgeries are impeding market expansion. For instance, in July 2022, BrosMed medical received 510(k) clearance from the US Food and Drug Administration for their Tiche 0.035 PTA Balloon Dilation Catheter. Additionally, Teleflex/Arrow International has issued a recall for Arrow FiberOptix and UltraFlex Intra-Aortic Balloon (IAB) Catheter Kits due to a manufacturing issue that could hinder complete balloon inflation, potentially resulting in harm to patients. Teleflex and their subsidiary Arrow International are recalling the Arrow FiberOptix Intra-Aortic Balloon Catheter Kit and Arrow UltraFlex Intra-Aortic Balloon Catheter Kits due to a manufacturing error that could lead to the balloon becoming overtwisted.

Collaboration and partnership in the angioplasty balloon market are pivotal for driving innovation and expanding market reach. Companies are forming joint ventures and strategic alliances to co-develop advanced technologies and improve product offerings. For instance, in February 2024, Poba Medical Inc. disclosed that the company have acquired the assets and formed a strategic alliance with Byond Medical located in Rancho Santa Margarita, California and Waco, Texas. This acquisition ultimately reunited two recognized medical device authorities, Doug Wilkins and Dan Kasprzyk. Additionally, in July 2024, Umma Therapeutics revealed that the FDA has approved the second version of the Finesse Injectable angioplasty balloon catheters for treating peripheral artery disease, including infra popliteal arteries, through percutaneous transluminal angioplasty. The company highlighted that along with its balloon angioplasty capabilities, the Finesse Injectable device includes a port for injecting radiopaque contrast material or other fluids.

North America holds the largest revenue share in the angioplasty balloons market. The presence of major industry players, rising healthcare expenditure and an increase in the number of percutaneous coronary surgeries are the primary drivers of the regional market. As reported by the CDC, around 25% of U.S. individuals are not physically active. As per the centres for Disease Control and Prevention (CDC), more than 697,000 Americans died from heart disease in 2023. According to the National Library of Medicine, coronary angioplasty is carried on more than 2 million patients globally annually, with 1 million patients subjected to PCI in the United States. As a result, there is a higher demand for better treatment using innovative medical devices, which is a significant factor driving the market.