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Increasing prevalence of cardiovascular diseases & increasing geriatric population is likely to aid in the market growth of balloon catheter market.

HYDERABAD, TELANGANA, INDIA, January 10, 2023 /EINPresswire.com/ -- Balloon Catheter Market size is forecast to reach $4.52 billion by 2025, growing at a CAGR of 9.57% during the forecast period 2020-2025. Percutaneous Coronary Intervention is a non-surgical procedure that uses a catheter to place a small structure called a stent to open up blood vessels in the heart that have been narrowed by plaque buildup, a condition known as atherosclerosis. The rise in the prevalence of various chronic heart diseases and the growing geriatric population are the major factors driving the growth of the market. Demand for minimally invasive procedures in emerging countries and the development of advanced cardiovascular devices will further enhance the overall market demand for balloon catheters during the forecast period. According to the United Nations Population Fund, around 12.3% of the global population comprised people aged 60 years and above and this figure is projected to increase to 22% by 2050.

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Key Takeaways

1. North America dominates the Balloon Catheter Market owing to well-established healthcare facilities, increasing prevalence of cardiovascular diseases and favourable reimbursement policies.

2. Increasing geriatric population and rise in the prevalence of various chronic heart diseases and demand for minimally surgical procedures along with a surge in healthcare expenditure is likely to aid in the market growth of the balloon catheter market.

3. Detailed analysis of the Strength, Weaknesses and opportunities of the prominent players operating in the market will be provided in the Balloon Catheter Market report.

4. Rise in incidences of catheter-associated infections can restrain the growth of the market.

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Segment Analysis

1. Based on the raw material, nylon held the largest share in the balloon catheter market in 2019 and will grow at a CAGR of 6.3% during the forecast period 2020-2025. This is mainly owing to the benefits associated with the use of nylon as a raw material in this device as nylon is softer, is more easily refolded and is easier to withdraw into the guiding catheter or introducer sheath. When compared with PET (polyethene terephthalate) versions nylon high-pressure balloons require a thicker wall for a given burst pressure, which means that a nylon balloon will have a larger profile than a comparable PET balloon upon insertion into the body and when crossing a lesion. However, the Polyurethane segment is estimated to be the fastest growing segment during the forecast period 2020-2025, owing to its properties as they are inflated by volume, rather than pressure.

2. Hospitals accounted for the major share of the balloon catheter market in 2019 and are estimated to grow at a CAGR of 4.2% during the forecast period 2020-2025. A growing patient pool and rising demand for efficient and effective surgery with shorter recovery time and reduced hospital stay are key factors driving the growth of this segment. The availability of advanced technologies and demand for minimally invasive surgical procedure is also contributing to the growth of this segment. Recently, Cardiac Catheterization Laboratories are also gaining popularity in the balloon catheter market.

3. North America dominated the balloon catheter market share accounting for more than 35.5% of the overall market. Robust healthcare infrastructure combined with a focus on the development of new devices along with improved diagnosis among patients is helping in this region's growth. The growing geriatric population and increased healthcare expenditure are also having a positive impact on the market in this region. The high prevalence of cardiovascular disorders and growing preference for minimally invasive surgeries, such as minimally invasive coronary bypass and Minimally Invasive Cardiothoracic Surgery (MICS), is contributing to the growth of the market in this region.

Competitive Landscape:

The top 5 players in the Balloon Catheter Market Industry are -

1. Abbott Laboratories
2. Edwards Lifesciences Corporation
3. BIOTRONIK SE & Co. KG
4. Boston Scientific Corporation
5. Medtronic plc

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A. Central Venous Catheter Market
https://www.industryarc.com/Report/15778/central-venous-catheter-market.html

B. Catheter Stabilization Device /Catheter Securement Devices Market
https://www.industryarc.com/Report/16848/catheter-stabilization-device-catheter-securement-devices-market.html

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