The Angioplasty Balloons Market is experiencing significant growth owing to the rising burden of cardiovascular diseases, the preference for minimally invasive surgery, and the increasing geriatric population. Recognizing the potential for growth and innovation, the market has seen numerous advancements in technology and clinical development. This article delves into the market size, growth, share, analysis, drivers, opportunities, challenges, and opportunities analysis of the angioplasty balloons market.
Market Size and Growth of Angioplasty Balloons
The global angioplasty balloons market boasts remarkable growth, driven by the increasing geriatric population and the prevalence of lifestyle-related disorders. According to the World Aging Population Report 2019, around 702.9 million people were aged 65 years and above globally. This number is projected to reach 1548.9 million by 2050. Consequently, the rise in the elderly population leads to an increase in chronic diseases, particularly cardiovascular diseases, resulting in more hospital admissions and surgeries. Furthermore, key players in the market are investing in clinical development and exploring new opportunities to advance existing technology, thereby fueling market growth.
Market Share and Key Players in the Industry
Major players in the angioplasty balloons market, such as Koninklijke Philips N.V., focus on contemporary angioplasty balloons made of different materials and introduce innovative products. For instance, in November 2018, Koninklijke Philips N.V. initiated patient enrollment for its Stellarex ILLUMINATE below-the-knee (BTK) investigational device exemption (IDE) and commenced a clinical trial in the United States. The study evaluated the safety and effectiveness of the Stellarex 0.014 drug-coated angioplasty balloon compared to percutaneous transluminal angioplasty (PTA) in critical limb ischemia (CLI) patients. Such initiatives by market leaders contribute significantly to the market share and overall growth.
Market Drivers and Opportunities in the Angioplasty Balloons Market
The angioplasty balloons market is propelled by various drivers and opportunities, including the increasing burden of cardiovascular diseases, preference toward minimally invasive surgery, and the growing senior population. Innovations in technology and increasing clinical development provide numerous opportunities for market growth. Key players invest in research and development to advance existing technologies and explore new possibilities in the angioplasty balloons market. These efforts result in innovative product launches that further propel market growth.
Market Challenges and Overcoming Obstacles
Despite the angioplasty balloons market's growth potential, it faces certain challenges that could hinder its progress. High costs associated with angioplasty procedures and post-operational complications, such as restenosis, heart attack, ventricular fibrillation, myocardial infarction, stent misplacement, aneurysms, kidney failure, and seizures, can negatively impact market growth. In the United States, angioplasty procedures can cost anywhere from $25,000 to $125,000 without health insurance. Addressing these challenges and finding ways to overcome the obstacles is crucial for the continued growth and success of the angioplasty balloons market.
Future of Angioplasty Balloons Market with Market Drivers and Challenges
Thanks to market drivers and opportunities, the angioplasty balloons market is poised for significant growth and innovation in the coming years. However, high costs and post-operational complications must be addressed to ensure sustained growth. To better understand the market dynamics, trends, and insights, we encourage you to request a sample report of the angioplasty balloons market from DataM Intelligence. This comprehensive report will equip business decision-makers, investors, CXOs, and R&D professionals with the knowledge needed to navigate the ever-evolving landscape of the angioplasty balloons market.
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