Stent Graft Balloon Catheter Market: Technological Augmentation Drives Growth in the Coming Years
The Stent Graft Balloon Catheter Market is estimated to exceed revenues worth US$ 1,000 Mn by 2022-end
[ClickPress, Tue Jun 11 2019] Stent graft balloon catheters are soft catheters equipped with inflatable balloons, and are utilized during a catheterization process, in order to enlarge the narrow opening in coronary artery. Stent graft balloon catheter are generally used to expand vascular prosthesis, or at times of temporary occlusion of huge vessels, thereby utilized in several endovascular treatment of thoracic, aortic, and abdominal diseases. The global stent graft balloon catheter market is projected to exhibit a healthy growth over the forecast period (2017-2022). The market is estimated to exceed revenues worth US$ 1,000 Mn by 2022-end.
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Usually, stent graft balloon catheters are adopted in balloon angioplasty and bypass graft surgery. These stents prevent risks related to re-narrowing that occurs in several patients undergoing angioplasty, as well as risks associated with abrupt artery closure. On the back of these benefits, demand for stent graft balloon catheters is on a rise. The market for stent graft balloon catheter has witnessed a gradual evolution from simple stents to the modified balloon stent catheters. Over the recent past, number of hospital admissions has witnessed a surge, owing to rising incidences of atherosclerosis, and growing prevalence of coronary artery disease (CAD) around the world. A number of technological developments have been observed in balloon catheters, coupled with the rise in healthcare expenditure.
However, angioplasty procedures are unaffordable, particularly for population thriving in underdeveloped and developing economies, which in turn might restrain demand for stent graft balloon catheters. Introduction of drug eluting balloons has highly favored growth of the market. Moreover, rising inclination toward adoption of balloons with drug delivery, capable of delivering medication at local sites, have proved to be effective alternatives to administer the drug intravenously. Several product developments in stent graft balloon catheters are being approved by regulatory bodies for treating vascular diseases. For example – the FDA has recently approved an expandable balloon stent graft developed by W.L. Gore & Associates for treatment of the peripheral artery disease. Sophisticated healthcare infrastructure, rising awareness about angioplasty procedures, and technological advancements in stent graft balloon catheters across developed economies are further expected to influence growth of the market in the upcoming years.
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Europe to be the Most Attractive Market for Stent Graft Balloon Catheter
Europe is estimated to be the most attractive market for stent graft balloon catheter. Asia-Pacific excluding Japan (APEJ) is expected to exhibit the highest CAGR in the global market through 2022. By indication, coronary artery disease will continue to account for a comparatively larger revenue share of the market than peripheral vascular disease.
Based on end-users, hospitals will retain their dominance in the global stent graft balloon catheter market during 2017 to 2022. However, sales of stent graft balloon catheter in cardiac catheterization laboratories will continue to exhibit the fastest expansion at 5.1% CAGR through 2022.
In terms of revenues, polyurethane, and nylon are expected to collectively account for over US$ 1,000 Mn revenues by 2022-end, based on raw materials. However, sales of polyurethane will continue to exhibit a comparatively faster expansion than sales of nylon through 2022.
Market players listed in Fact.MR’s report on the global market for stent graft balloon catheter include Medtronic Plc, Cordis Corporation, B. Braun Melsungen AG, Cook Medical INC, Terumo Corporation, Boston Scientific Corporation, MicroPort Scientific Corporation, Jotech GmbH, Cardionovum GmbH, Hexacath, Abbott Laboratories, and Meril Life Sciences Pvt. Ltd.
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