Transparency Market Research Report Added "Angioplasty Balloons Market" to its database.
Albany, NY -- (SBWIRE) -- 09/12/2016 -- New entrants in the global angioplasty balloons market can expect to find a highly dynamic market that includes a number of companies with diversification in vendor sizes. The key players - Boston Scientific, Cordis Corporation, and Abbott Laboratories - had collectively garnered a share of 71.7% in 2014 in terms of market value.
According to a new publication by Transparency Market Research, the threat for existing manufacturers of angioplasty balloons from the new entrants is expected to remain moderate over the next few years. This is due to the high cost of research and development coupled with the extreme stringency of government regulations that vary from region to region.
Additionally, the market growth rate is deemed to be too slow to create enough scope for new players to enter. Meanwhile, the degree of competition in the angioplasty balloons market is expected to remain high till 2023, owing to majority of the market being dominated by a few key players. These companies are locked in a race for new product launches and fast innovations.
The global market for angioplasty balloons is expected to progress at a CAGR of 3.5% in terms of revenue within the forecast period of 2015 to 2023. The revenue is expected to reach US$1.93 bn by the end of 2016 and US$2.55 bn by the end of 2023.
Drug Coated Angioplasty Balloons Gaining Demand
The report shows that normal balloons are expected to dominate the revenue generation among all angioplasty balloons. By the end of 2023, this segment's revenue is expected to reach US$1.57 bn. However, drug coated angioplasty balloons are expected to gain massively in terms of popularity and usage. This segment is expected to progress at a CAGR of 8.2% from 2015 to 2023.
From a geographical standpoint, the demand for angioplasty balloons is led by North America, followed by Europe. By the end of 2023, the revenue generated by the North America angioplasty balloons market is expected to reach US$993.70 mn. The demand for angioplasty balloons is expected to expand in the Asia Pacific region at a CAGR of 5.3% from 2015 to 2023, which will be the leading growth rate among all regions for the forecast period.
Coronary Artery Disease on the Rise; Demand for Angioplasty Balloons Follows
"According to the CDC, nearly 610,000 deaths have occurred each year in the U.S. alone due to heart diseases in recent years. This number is expected to increase even further," states a TMR analyst. He adds, "There were nearly 8 mn people in the U.S. suffering from peripheral artery disease in 2011. These numbers are also set to increase over time, due to factors including the fast increasing geriatric population, the rising number of diabetics and obese citizens, and the general increase in negative lifestyle choices and high stress levels. These numbers only point to a growing demand for medical devices, operative equipment, and implants."
With the number of coronary surgeries expected to increase drastically in the coming years, the demand for angioplasty balloons will likewise show increments.
High Competition Reduces Angioplasty Balloon Prices, Cuts Revenues
Although the rate of entry by new angioplasty balloons manufacturers is moderate, the existing players have recently been adopting extreme pricing strategies to gain market penetration and share. The price cuts they impose on angioplasty balloons is getting them more users, but is drastically reducing the overall revenue generated in the market from a global standpoint.
As stated by Healing Hearts, the prices of angioplasty balloons along with other equipment have reduced by almost 40% in the last decade in India, one of the major destinations for medical tourism in the world. This is severely hurting the scope of research and development efforts hosted by leading players and is expected to hamper the market growth rate considerably in the near future.
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"Manufacturers can instead focus on the release of new products currently in the pipeline. The success of these products will greatly improve the demand for angioplasty balloons and the overall growth rate of its global market," states the analyst.
The information presented in this review is based on a Transparency Market Research report, titled, "Angioplasty Balloons Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023."
By 2023, revenue generated by the global angioplasty balloons market is expected to reach US$2.549 bn.
North America expected to generate US$993.7 mn in angioplasty balloon revenue by 2023.
Normal angioplasty balloons expected to generate US$1.572 bn in revenue by 2023.
Key segments of the Global Angioplasty Balloons Market
Global Angioplasty Balloons Market, by Product Type
Normal Balloon Catheter
Drug Coated Balloon Catheter
Cutting Balloon Catheter
Scoring Balloon Catheter
Global Angioplasty Balloons Market, by Material Type
Global Angioplasty Balloons Market, by Geography
Rest of the World
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