Global Angioplasty Balloons Market 2016-2020
About Global Angioplasty Balloon Market
The global angioplasty balloon market presents significant opportunities for vendors to grow in untapped countries, particularly those in APAC. The market is highly dynamic and characterized by intense competition, with the presence of many global and local players that develop safe, easy-to-use, cost-effective, and widely available products in the market. These companies adopt creative strategies and develop innovative devices to ensure product differentiation. In 2015, Medtronic, Abbott Laboratories, Boston Scientific, and C. R. Bard were the leading vendors in the market.
Technavio’s analysts forecast the global angioplasty balloons market to grow at a CAGR of 3.47% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global angioplasty balloons market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of the products used during angioplasty and stenting.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Angioplasty Balloons Market 2016-2020
Technavio recognizes the following companies as the key players in the global angioplasty balloons market: Abbott Laboratories, Boston Scientific, C. R. Bard, and Medtronic.
Other Prominent Vendors in the market are: Aachen Resonance, Acrostak, Alvimedica Medical devices, AMG International, Angioslide, Arthesys, Asahi Intecc, Atrium Medical, AV Medical, Biotronik, BrosMed, C. R. Bard, Cardionovum, Cook Medical, Gadelius Medical, Kaneka Medix, Lepu Medical, Medinol, Meril Life Sciences, MicroPort Scientific, Natec Medical, QT Vascular, SHOCKWAVE Medical, Smiths Medical, Spectranetics, STENTYS, Svelte medical, Teleflex, Tokai Medical, and US Endovascular.
Commenting on the report, an analyst from Technavio’s team said: “Emergence of digital cath labs in hospitals will be a key trend for market growth. Cath labs or cardiac catheterization laboratories in hospitals conduct both diagnostic and therapeutic procedures. These laboratories used to conduct normal procedures such as the monitoring of blood flow and heart pressure. Advances in technology in the area of catheterization, such as robot-assisted catheterization for PCI, has advanced the digital imaging system. This system helps improve the detection and intervention of cardiac diseases. This has led physicians to perform coronary-related procedures in digital cath labs.”
According to the report, presence of specialized cardiologists will be a key driver for market growth. Cardiologists specializing in the treatment of diseases and conditions of the heart and blood vessels are required for cardiovascular procedures. Many hospitals and cardiac centers worldwide, particularly in emerging countries, have highly skilled cardiologists who perform successful procedures. They are opting for interventional techniques to treat various CVDs due to their less invasive nature. Hospitals use established cardiology procedures such as PTCA, diagnostic angiography, and coronary stenting to treat individuals with CADs. Many vendors are expanding into developing countries due to the presence of experienced surgeons who can efficiently use angioplasty balloons for treating CADs. Vendors are also conducting medical education programs and practice sessions to train surgeons in surgical techniques and device implantation.
Further, the report states that product recalls will be a challenge for the market. Cardiac diseases are the leading cause of death worldwide. Various companies are developing medical devices that help treat these diseases. While developing, companies should emphasize on patient safety to avoid adverse effects. However, many clinical studies have failed to ascertain the complete safety and efficacy of various angioplasty balloons. These high-risk medical devices can cause adverse events, which may lead to their recall from the market.
Abbott Laboratories, Boston Scientific, C. R. Bard, Medtronic, Aachen Resonance, Acrostak, Alvimedica Medical devices, AMG International, Angioslide, Arthesys, Asahi Intecc, Atrium Medical, AV Medical, Biotronik, BrosMed, C. R. Bard, Cardionovum, Cook Medical, Gadelius Medical, Kaneka Medix, Lepu Medical, Medinol, Meril Life Sciences, MicroPort Scientific, Natec Medical, QT Vascular, SHOCKWAVE Medical, Smiths Medical, Spectranetics, STENTYS, Svelte medical, Teleflex, Tokai Medical, US Endovascular.