Occlusion Balloon Catheter Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Occlusion Balloon Catheter Market Analysis
The occlusion balloon catheter market is expected to witness a CAGR of 5% during the forecast period.
Due to global lockdowns and suspended trade, there was a decline in medical diagnoses and health check-ups for non-COVID-19 patients, as healthcare activities were largely focused on COVID-19. For instance, as per the article published in the National Library of Medicine in September 2021, compared to the pre-pandemic period, the pandemic caused a significant decrease in the number of referrals and procedures completed. In addition, according to the same source, during the pandemic period, there was a marked decline in referrals and procedures carried out for cardiac procedures in Canada. Such a reduction in procedures led to a decline in patient visits to healthcare centers for intracardiac electrocardiography (ICE) procedures. However, there was an increase in various cardiac diseases during the later phase of the pandemic among COVID-19 patients, which, in turn, increased the demand for interventional cardiology. This contributed to considerable growth in the market studied.
Moreover, the global and regional players in the market studied focused more on product developments during the pandemic. For instance, BioSig Technologies Inc. presented data after successfully completing a blinded trial in 2021 for its PURE EP System. In August 2022, the company extended the commercialization of the product, a computerized system designed for collecting, digitizing, amplifying, filtering, measuring, and calculating electrocardiographic and intracardiac signals. It also records and stores the signals. Hence, development activities by major players during the pandemic period fueled the growth of the market studied.
Factors such as the increasing prevalence of cardiac diseases are expected to increase the market's growth. According to the 'Cardiovascular Diseases Statistics,' published by Eurostat in August 2021, cardiovascular disorders (CVDs) are the leading cause of mortality in Europe. They span various circulatory system-related medical conditions and place a considerable burden on healthcare systems and government budgets. Additionally, as per a press release by the European Society of Cardiology in September 2021, CVD caused 36% of all fatalities in Europe. In addition, as per the same source mentioned above, people of all ages are severely affected by CVD. In Europe, CVD is responsible for about 20% of all premature deaths (before the age of 65) annually.
Furthermore, as per the article published in the National Library of Medicine in February 2022, over the past 35 years, the prevalence of obesity has more than doubled. Additionally, as per the same source mentioned above, the middle-income European Society of Cardiology member countries face a high CVD burden with a projected incidence rate around 30% higher than those of high-income countries, and the disability-adjusted life years lost to CVD are about four times higher in middle-income countries than in high-income ones.
However, the high cost of angioplasty procedures and the dearth of skilled professionals are hampering the market's growth.
Occlusion Balloon Catheter Market Trends
This section covers the major market trends shaping the Occlusion Balloon Catheter Market according to our research experts:
Coronary Artery Disease Application Projected to Grow at a Notable Rate During the Forecast Period.
The rise in coronary diseases due to the growing geriatric population and unhealthy habits in the younger generation are likely to accelerate the market's growth during the forecast period. For instance, as per the report published in the National Library of Medicine in April 2021, about 16.5% of the US population, or 54 million, were aged above 65 in 2020. By 2030, that number is expected to rise to 74 million. The number of people aged above 85, who are at risk of developing heart disease in the country, is expected to increase significantly. Similarly, the BHF report released in July 2021 estimated that over 7.6 million people in the United Kingdom are affected by heart and circulation disorders. Thus, increasing CVDs are expected to increase market growth as CVD patients require surgical treatment, which is expected to increase segmental growth over the forecast period.
Product launches are another factor contributing to the market's growth. For instance, in September 2021, the United States Food and Drug Administration (FDA) approved Abbott's Portico with FlexNavtranscatheter aortic valve replacement (TAVR) system to treat people with symptomatic, severe aortic stenosis who are at high or extreme risk for open-heart surgery. Portico is a self-expanding transcatheter aortic valve replacement with intra-annular (within the native valve) leaflets that help to provide optimal blood flow (hemodynamics) when placed inside a patient's natural valve. The structure of the replacement valve also preserves access to the critical coronary arteries for future coronary interventions. Thus, due to the abovementioned factors, the market is expected to grow during the forecast period.
North America is Expected to Dominate the Market Over the Forecast Period
North America is projected to have a notable growth rate over the forecast period owing to the factors such as the availability of a large patient pool, rapid technological advancements, and increasing healthcare spending. Furthermore, an increase in the prevalence of vascular diseases is expected to boost the regional market share. According to a research report titled "Data and Statistics on Congenital Heart Defects," published by the CDC in January 2022, congenital heart defects (CHDs) are the most prevalent kinds of birth defects,
In the United States, CHDs affect roughly 40,000 babies annually, or close to 1% of all births. A disability affects almost four out of every ten persons with heart abnormalities, the most prevalent type being cognitive impairments (difficulties with focus, memory, or decision-making). A hereditary issue is linked to at least 15% of CHDs. About 20% to 30% of individuals with CHD also suffer from additional physical issues, developmental delays, or cognitive disabilities. An article titled "Sociodemographic Inequalities in Cardiovascular Risk Factors Among Adolescents from Indigenous Areas of Chiapas, Mexico," published in November 2020 on MedRxiv, the Preprint Server for Health Sciences, found that girls were more likely to have abdominal obesity and high triglycerides than boys were and that boys were more likely to have abnormal diastolic blood pressure. Additionally, urban areas had higher rates of overweight/obesity and insulin resistance, whereas rural areas had higher rates of excessive blood pressure. Given that these are risk factors for cardiovascular disease, it is anticipated that Mexico's burden of cardiac diseases will rise in the future, driving the market's expansion.
Thus, all the above-mentioned factors are expected to help North America maintain its dominance in the market studied during the forecast period.
Occlusion Balloon Catheter Industry Overview
The occlusion balloon catheter market is moderately fragmented. Market players are actively focusing on new product developments, product launches, and geographical expansion strategies to increase their market share. The key players operating in the market are Boston Scientific Corp., Cook Group Incorporated, Stryker Corporation, W. L. Gore & Associate., and Oscor Inc.
Occlusion Balloon Catheter Market Leaders
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Boston Scientific Corp.
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Cook Group Incorporated
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Stryker Corporation
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W. L. Gore & Associates
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Oscor, Inc.
*Disclaimer: Major Players sorted in no particular order
Occlusion Balloon Catheter Market News
- August 2022: Otsuka Pharmaceutical Factory Inc. launched an intermittent urological catheter called OT-Balloon Catheter.
- February 2022: The Vena balloon distal access catheter by Vena Medical, which combines the balloon guide catheters and distal access catheters currently used in thrombectomy to remove clots from the brains of stroke patients, received the first Health Canada medical device license.
Occlusion Balloon Catheter Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Geriatric Population and Rising Prevalence of Cardiac Diseases
- 4.2.2 Increasing Disposable Income and Healthcare Spending
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4.3 Market Restraints
- 4.3.1 High Cost of Catheterization Procedures
- 4.3.2 The Dearth of Skilled Professionals and Risk of Infection
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Material
- 5.1.1 Latex
- 5.1.2 Silicone
- 5.1.3 Other Materials
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5.2 By Indication
- 5.2.1 Peripheral Vascular Diseases
- 5.2.2 Coronary Artery Diseases
- 5.2.3 Other Indications
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5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 Ambulatory Surgical Centers
- 5.3.3 Other End Users
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Boston Scientific Corp.
- 6.1.2 Cook Group Incorporated
- 6.1.3 Stryker Corporation
- 6.1.4 W. L. Gore & Associates
- 6.1.5 Merit Medical Systems
- 6.1.6 Oscor Inc.
- 6.1.7 Edwards Lifesciences Corporation
- 6.1.8 PRYTIME MEDICAL
- 6.1.9 Fuji Systems
- 6.1.10 Edwards Lifesciences Corporation
- 6.1.11 QXMedical
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityOcclusion Balloon Catheter Industry Segmentation
A balloon catheter is used in order to widen a narrow opening or passage within the body during a catheterization procedure. It is a type of "soft" catheter with an inflatable "balloon" at its tip. The deflated balloon catheter is put in place and inflated to carry out the required procedure, then deflated once more to be taken out. The device consists of a balloon and a catheter. The report covers the occlusion balloon catheters that are used in cardiac and peripheral interventions.
The occlusion balloon catheter market is segmented by material (latex, silicone, and other materials), indication (peripheral vascular diseases, coronary artery disease, and other indications), end user (hospitals, ambulatory surgical centers, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers values in USD million for all the above-mentioned segments.
| By Material | Latex | |
| Silicone | ||
| Other Materials | ||
| By Indication | Peripheral Vascular Diseases | |
| Coronary Artery Diseases | ||
| Other Indications | ||
| By End User | Hospitals | |
| Ambulatory Surgical Centers | ||
| Other End Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Occlusion Balloon Catheter Market Research FAQs
What is the current Occlusion Balloon Catheter Market size?
The Occlusion Balloon Catheter Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Occlusion Balloon Catheter Market?
Boston Scientific Corp., Cook Group Incorporated, Stryker Corporation, W. L. Gore & Associates and Oscor, Inc. are the major companies operating in the Occlusion Balloon Catheter Market.
Which is the fastest growing region in Occlusion Balloon Catheter Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Occlusion Balloon Catheter Market?
In 2024, the North America accounts for the largest market share in Occlusion Balloon Catheter Market.
What years does this Occlusion Balloon Catheter Market cover?
The report covers the Occlusion Balloon Catheter Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Occlusion Balloon Catheter Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Occlusion Balloon Catheter Industry Report
Statistics for the 2024 Occlusion Balloon Catheter market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Occlusion Balloon Catheter analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
