- Rise in aging population, technological advancements, and introduction of innovative products are some of the major factors driving the growth of the PTCA balloon catheter market.
- Reimbursement issues and availability of alternative therapies may restrain the market.
- North America has the largest market for PTCA balloon catheter.
Percutaneous transluminal coronary angioplasty (PTCA) refers to a minimally-invasive procedure for opening blocked or narrowed coronary arteries caused by coronary arteries disease (CAD). PTCA balloon catheters help to allow the blood to flow from the arteries to the heart muscles without the need for open heart surgery. Coronary heart disease is caused by smoking, high blood pressure, diabetes, and a high level of cholesterol in the blood. Some of the symptoms of coronary heart disease are chest pain, sweating, difficulty in breathing, dyspnea, and excessive fatigue. Rise in aging population, technological advancements, and introduction of innovative products are some of the major factors driving the growth of the PTCA balloon catheter market.
On the basis of application, the PTCA balloon catheter market can be segmented into normal balloon catheter, drug eluting balloon catheter, cutting balloon catheter, and scoring balloon catheter. On the basis of product, the PTCA balloon catheter market can be segmented into balloon angioplasty catheters, guiding catheters, guide wires, inflation devices, introducers/sheath, and vascular access site closure devices. PTCA balloon catheters are easy-to-use, safe, and relatively-low priced. Guiding Catheters are used to indicate the delivery of interventional devices to peripheral or coronary vascular systems. The main advantage of PTCA is the avoidance of immediate post-operative discomforts associated with coronary bypass surgeries and reduction of morbidity by use of this procedure.
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North America has the largest market for PTCA balloon catheter due to improved healthcare infrastructure, government initiatives, rise in the incidences of cardiac disorders, and increasing healthcare expenditure in this region. The North America PTCA balloon catheter market is followed by Europe. Asia is expected to witness high growth rates in the PTCA balloon catheter market in the next few years due to increasing incidences of coronary heart diseases, growing disposable income, rise in awareness regarding heart diseases and their treatments, and improving healthcare infrastructure in this region.
Growing aging population, rise in demand for minimally-invasive surgeries, government initiatives, increasing prevalence of cardiovascular disorders, and rise in demand for PTCA balloon catheters are expected to drive the growth of the market for PTCA balloon catheters. In addition, technological advancements, rise in incidences of peripheral vascular diseases, and lack of physical activities and unhealthy diet are expected to drive the growth of the market for PTCA balloon catheters. However, reimbursement issues and availability of alternative therapies such as tissue transplantation, bypass surgery, and medicines are some of the major factors restraining the growth of the global PTCA balloon catheter market.
Growing population and economies in developing countries such as India and China are expected to drive the growth of the PTCA balloon catheter market in Asia. In addition, introduction of innovative products along with technological advancements, constant rise in incidences of heart diseases, and increasing demand for PTCA balloon are expected to create new opportunities for the global PTCA balloon catheter market. Increasing number of mergers and acquisitions, rise in the number of collaborations and partnerships, preferences for minimally-invasive procedures, and rapid product launches are some of the latest trends in the global PTCA balloon catheter market. Some of the major companies operating in the global PTCA balloon catheter market are Medtronic, B. Braun Melsungen AG, Abbott Vascular, Boston Scientific, Goodman, and Cordis.MicroPort Scientific, Corp., Terumo Medical, Corp., Biosensors International, Ltd., Simeks Medical, and AngioScore, Inc. are some of the other companies operating in the global PTCA balloon catheter market.