PTA Balloon Catheter Market To Generate Revenue worth $4,591.2 Million by 2030
- Published: June 2023
The global PTA balloon catheter market is projected to generate USD 4,591.2 million revenue by 2030, advancing at a CAGR of 9.4% during 2022–2030. The key factors driving the market are the increasing prevalence of cardiovascular diseases, growing number of minimally invasive surgical procedures, and rising consumption of tobacco and incidence of obesity.
Pioneering equipment, such as cannulas, lessens the risk of complications and improves productivity. Additionally, owing to the growing demand for innovative technologies, along with the approval of surgical approaches that do not require blood transfusions, the market will grow.
A negative impact of the COVID-19 pandemic was seen on the market, due to the scarcity of surgical equipment and unavailability of healthcare professionals, as a result of the various restrictions and lockdowns. As the situation normalized, the market grew at a good rate. This is mainly because of the increasing incidence of heart-related disease due to the high prevalence of overweight and obesity, itself on account of the less physical activity and increased stress people witnessed during the pandemic.
Standard and High-Pressure PTA Balloon Catheter Are Dominating the Market
Standard and high-pressure PTA balloon catheters held the larger share, over 60%, in 2022. Traditionally, this type of balloon was used in angioplasty, but over time, its usage in various therapeutic and diagnostic procedures has increased because of the enhancement in the material, design, and fabrication technology of the balloon. These developments offer additional lengths, increased diameters, ultra-thin walls for a smaller profile and minimal invasion, varying diameters across the balloon, custom shapes, specialty coatings, and tapered angles and ends. The advances in high-pressure balloons have also resulted in the creation of multi-functional balloons, which offer unlimited possibilities in product design for medical device design engineers.
Moreover, nylon held the largest share in 2022, mainly because nylon catheters account for higher patient compliance and are scratch-resistant. Additionally, nylon balloons tend to have good deflation profiles, and they are softer and easily re-foldable.
Moreover, Europe held a significant share in the market in 2022. This is mainly because of the increasing prevalence of cardiovascular diseases, growing usage of tobacco, rising geriatric population, established healthcare infrastructure, and easy availability of health insurance. In 2021, in Germany, more than 22% of the population was aged 65, mainly because of the low fertility rate and increasing life expectancy. Currently, the country is one of only five “super-aged” societies globally, and by 2050, the population in the 65 and above age group will reach nearly 33% of its total.
Major players operating in the PTA balloon catheter market include Medtronic plc, Terumo Medical Corporation, Cardinal Health Inc., Boston Scientific Corporation, Cook Medical, BIOTRONIK Inc., Abbott Laboratories, Becton, Dickinson and Company, Natec Medical Ltd., and Surmodics Inc.