Increase in cases of cardiovascular diseases has been observed of which the most common cause of fatality is known to be Heart disease. Balloon Angioplasty is witnessing increase in demand for treatment of medical conditions related to Heart. This surged demand boosts the global angioplasty balloons market. Major stake holders in the global market are embracing technological advancements. Technologically advanced devices amp up the speed of treatment of medical conditions that aid in making a ‘value-based’ healthcare ecosystem. Newer angioplasty balloons are being introduced by the major stake holders in order to enhance the patient outcome.
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Cutting balloons better than conventional types
Drug-coated angioplasty balloons are the latest entrants in the global market. They are an upgraded version of general angioplasty balloon and have started gaining traction recently. These balloons are demanded for their number of benefits that includes supreme safety and greater effectiveness. Both these factors improve the Heart flow associated with Heart and result in enhanced medical outcomes. Drug coated balloons segment is estimated to own ̴30% of the global market. Latest Fact.MR report forecasts drug coated balloons market to grow at a rate of ̴4% during the forecast period 2020-2025.
Cutting balloons have witnessed wide application but their demand is gradually declining. They offered a better technique than the conventional types which amped up its demand in the initial days. But it also had certain drawbacks such as stiffness in operating the device and risks of developing complex lesions. These shortcomings hindered its popularity and decreased its demand. Customers diverted their focus towards technologically advanced options like drug-coated angioplasty balloons. Cutting balloons are known to be a prominent mark in evolution of angioplasty balloons.
Decreasing average price negates market growth
Declining trend is observed in price of angioplasty balloons recently. This negative raise in price acts as a major market determinant. The rate of disease is increasing which is set to increase the demand for angioplasty balloons. High demand and low price is ought to negatively influence the revenue generated in the global market. Major stake holders have acknowledged the impact of price fluctuation and are devising competitive pricing strategies to gain competitive edge in the market.
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The prominent regions in global angioplasty balloons market are Europe and North America. Both the regions own major market shares. Major factors responsible for this dominance include increased awareness regarding different options for treatment and health awareness in general. Also, presence of major players in the region and acceptance of technological advancements fuel the growth of angioplasty balloons market in Europe and North America. Fact.MR report states that these regions will continue to generate lucrative opportunities in the market. Other regions including India, Japan, New Zealand, China and Australia are surging the demand for angioplasty balloons. Fact.MR report predicts APAC market to grow at ̴5% CAGR during the forecast period owing to the increasing awareness of disorders like Percutaneous Coronary Intervention (PCI) procedures and emergence of cheap minimally-invasive procedures.
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