DUBLIN, April 06, 2022--(BUSINESS WIRE)--The "Balloon Catheters - Market Insights, Competitive Landscape and Market Forecast-2026" report has been added to ResearchAndMarkets.com's offering.
Global balloon catheters market was valued at USD 4.23 billion in 2020, growing at a CAGR of 8.78% during the forecast period from 2021 to 2026 to reach USD 7.00 billion by 2026.
Factors such as the rising prevalence of lifestyle disorders such as hypertension and obesity which present themselves as major risk factors for the development of cardiovascular diseases as well as brain aneurysms, increasing incidence of cancers in the pelvic region affecting the urinary system in varying capacities, growing geriatric population base where age itself plays a major role in disease etiology, and technical innovation in product development such as manufacture of drug-coated balloon catheters aimed at drug delivery at the site of action among other factors are expected to drive the balloon catheters market.
One of the key aspects driving the balloon catheters market is the surging prevalence of cancers especially of the lower pelvis such as prostate, colon, rectal, bladder among others. As per the data provided by the International Agency for Cancer Research, in 2020, 431,288 new cases of kidney cancer were reported globally.
The same source also presented the data for bladder cancer for which 573,278 new cases were reported across the globe. Cancers originating in the lower pelvis region often impact ureters as well as cancerous growth may block the ureter and affect the flow of urine from the kidney to the bladder. This results in the buildup of urine in the kidney and eventually affects kidney function.
Therefore, in such cases, nephrostomy is performed where in nephrostomy balloon catheters are deployed to create passage for urine. Therefore, the demand for nephrostomy balloon catheters is said to witness an increase owing to the increasing prevalence of cancers especially in the pelvic region thereby driving the growth of the global balloon catheters market during the forecast period (2021-2026).
Another key factor in boosting the demand for balloon catheters is the increasing prevalence of cardiovascular diseases. According to the World Health Organization (WHO) (2021), cardiovascular disease (CVD) is the leading cause of death worldwide, with an estimated 17.9 million deaths annually across the globe.
Cardiovascular diseases includes myocardial infarction, congestive heart failure, acute coronary syndrome, and other disorders. Atherosclerosis and coronary heart disease further advance to give rise to severe CVD forms such as myocardial infarctions, strokes, peripheral arterial disease, and heart attacks. Majority of cardiovascular diseases are treated via procedures such as percutaneous transuminal coronary angioplasty (PTCA) where in PTCA balloon catheters are extensively employed.
Thus, the increasing prevalence of cardiovascular diseases are expected to result in conductance of higher number of PCI procedures which in turn would drive the demand for PTCA balloon catheters eventually driving the balloon catheters market growth in the coming years.
However, specific limitations associated with each type of balloon catheter, and probable procedural risks and product recalls may be certain challenging aspects for the balloon catheter market growth.
The balloon catheter market saw a decline in sales due to the implementation of measures to curb the global spread of COVID19 infection. One of the key steps during the COVID surge was numerous selective treatments and suspension of outpatient consultations. This reduced the demand for such catheters in the market as healthcare system guidelines around the world were modified to temporarily focus on managing patients exposed to COVID-19 infection.
Declining product demand was observed in the balloon catheter market as supply chains and product manufacturing activities were affected around the world during the lockdown phase in 2020. However, the market seems to be in the process of recovery, with the global supply chain recovering and medical facility activity resuming, providing a positive outlook for the balloon catheters market during the forecast period.
1. Balloon Catheters Market Report Introduction
2. Balloon Catheters Market Executive Summary
4. Balloon Catheters Market Key Factor Analysis
4.1.1. Rising Prevalence of Cardiovascular Diseases
4.1.2. Growing Prevalence of Brain Aneurysms
4.1.3. Increasing Prevalence of Cancers in the Pelvic Region
4.1.4. Technical Innovation in Product Development
4.2. Balloon Catheters Market Restraints and Challenges
4.2.1. Limitations Associated with Different Catheter Types
4.3.1. Improving the Safety Prospects of Balloon Catheters
4.3.2. Improving Design-Related Shortcomings of Balloon Catheters
5. Balloon Catheters Market Porter's Five Forces Analysis
6. COVID-19 Impact Analysis on Balloon Catheters Market
8. Balloon Catheters Market Global Company Share Analysis - Key 3-5 Companies
9. Balloon Catheters Market Company and Product Profiles
Summit Medical (Innovia Medical) Well Lead Medical Co., Ltd
Lepu Medical Technology(Beijing)Co.,Ltd
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