According to Vision Research Reports, the global angioplasty balloons & stents market size surpassed at US$ 6 Bn in 2019 and to reach US$ 9.1 billion by 2027.
The global angioplasty balloons & stents market is anticipated to grow at a CAGR of 4.6% during the forecast period 2020 to 2027. The market growth can be primarily attributed to a host of factors, including the advent of bioabsorbable stents, rise in the geriatric population worldwide, high prevalence of cardiovascular diseases, favorable reimbursement policies, and research and development. Technological advancements will play a key role in the development of new and improved angioplasty balloons and stents. Companies operating in the angioplasty balloons & stents market should focus on research and aim to attain approval for their products to gain an edge in the current market landscape.
A stent is a small, mesh-like device made of metal. When a stent is placed inside of an artery, it acts as a support or scaffold, keeping the vessel open. By keeping the vessel open, the stent helps to improve blood flow to the muscle and reduce pain. Stent procedures are usually used along with balloon angioplasty. In fact, about 80% of patients who have balloon angioplasty will have a stent placed as well. North America is a highly lucrative market for angioplasty balloons & stents due to quick adoption of new product, favorable reimbursement, and high awareness and availability of different treatment options.
Favorable Reimbursement Policies for Various Cardiovascular Procedures to drive Angioplasty Balloons & Stents Market
Favorable reimbursement policies for various cardiac procedures have led to an increase in the number of patients undergoing treatment in outpatient and inpatient hospital settings. In the past few years, several drug-eluting stents have received reimbursement in France, Japan, and other countries across the world. In May 2019, MicroPort Scientific Corporation obtained reimbursement for Firehawk, Rapamycin Target Eluting Coronary Stent System in France. Hence, favorable reimbursement policies for various cardiac procedures is expected to drive the global angioplasty balloons and stents market.
Research and Development Continue to Trigger New Innovations and Treatment Techniques
Research and development activities are driving the healthcare sector, as new treatments, therapies, and medication are increasingly being used to address problems related to small blocked arteries. Recent studies that are investigating different treatment types have revealed that the removable balloon has exhibited the same levels of effectiveness as that of permanent stent implants, especially to open up small blocked arteries. Experts operating in the angioplasty balloons & stents market are of the opinion that drug-coated balloon angioplasty could potentially become the gold standard treatment for small blocked arteries. However, with added research, newer alternatives could enter the angioplasty balloons & stents market during the forecast period. Over the past few years, vendors in the angioplasty balloons & stents market are focusing on the development of improved stent technologies for the treatment of peripheral artery diseases.
Stents to Offer Lucrative Opportunities
In terms of product, the global angioplasty balloons & stents market has been bifurcated into balloons and stents. The stents segment dominated the global angioplasty balloons & stents market in 2018. Growth of the segment can be attributed to the development of advanced stents that minimize restenosis.
Hospitals to be Major End User
Based on end user, the global angioplasty balloons & stents market has been divided into hospitals, ambulatory surgical centers, and cath labs. Hospitals is likely to be a highly lucrative segment from 2019 to 2027 and account for major market share in terms of revenue. However, the ambulatory surgical centers segment is projected to expand at a high CAGR during the forecast period. Rise in awareness about the advantages of surgical procedures such as low cost of expenses than hospitals and shorter stay is attributed to the ambulatory surgical centers segment’s rapid growth.
North America to Dominate Angioplasty Balloons & Stents Market
In terms of region, the global angioplasty balloons & stents market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global angioplasty balloons & stents market in 2018. Favorable reimbursement policies, quick adoption of advanced products, and presence of major players who constantly promote their brands through wide distribution channels are the key factors driving the market in the region. Asia Pacific is anticipated to be a lucrative market for angioplasty balloons and stents due to large number of patients, low cost of products leading to increase in patients availing the procedure, and rise in disposable income in countries such as India.
Key players analyzed in this report are
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Scope of the Report
VRR’s report on the global angioplasty balloons & stents market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2019 to 2027. The report provides the revenue of the global angioplasty balloons & stents market for the period from 2017 to 2027, considering 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) of the global angioplasty balloons & stents market for the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global angioplasty balloons and stents market.
Secondary research includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have employed a combination of top-down and bottom-up approach to study various phenomena in the global angioplasty balloons and stents market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global angioplasty balloons and stents market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global angioplasty balloons and stents market.
The report delves into the competition landscape of the global angioplasty balloons and stents market. Key players operating in the global angioplasty balloons & stents market have been identified and each one of these has been profiled for their distinguishing business attributes. Company overview, financial standing, recent developments, and SWOT are some of the attributes of players in the global angioplasty balloons & stents market that have been profiled in this report.
Key Questions Answered in Angioplasty Balloons & Stents Market Report
Research Objectives and Research Approach
The comprehensive report on the global angioplasty balloons & stents market begins with an overview of the market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives behind this study, technological advancement in different types of stents, regulatory approval, clinical trials, reimbursement scenario of different balloons, and new product launches in the market.
For reading comprehensibility, the report has been compiled chapter wise, with each section divided into smaller ones. The entire report comprises an exhaustive collection of graphs and tables appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of market shares of key segments in the past and at the end of the forecast period.
The report analyzes the global angioplasty balloons & stents market in terms of product, indication, end user, and region. Key segments under each criteria have been studied at length, and the market share for each of these at the end of 2027 has been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global angioplasty balloons and stents market.
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