The global coronary balloon catheters market size should keep a positive trajectory, reaching $3.5 billion by 2027, with the drug-eluting market segment representing the majority of the total market. Currently, Boston Scientific, Medtronic, and Philips control the global market share.
What is the global market landscape for coronary balloon catheters?
The first devices used in the field of interventional cardiology were percutaneous transluminal coronary angioplasty (PTCA) balloon catheters. If not for subsequent restenosis occurrences, they would still be the only device necessary for atherosclerosis treatment. Because PTCA balloons are a necessary device for stent placement, sales of these balloon devices correlate with stent sales. Moreover, growth in unit sales of the coronary balloon market depends on the annual percutaneous coronary interventions (PCI) procedure volume. Any significant changes to the PCI procedure volume will exhibit a direct effect on sales volume. Additionally, average selling prices (ASPs) for coronary balloons correlate to the strong position of the percutaneous transluminal coronary angioplasty (PTCA) balloon segment, as it accounted for the largest portion of total units sold.
Which procedures use coronary balloon catheters, and how many do surgeons perform per year?
Angioplasty or percutaneous coronary intervention (PCI) procedures commonly utilize coronary balloon catheters to open clogged heart arteries. Surgeons insert tiny balloon catheters into blocked blood vessels to assist in improving blood flow. The number of balloons and stents used varies from country to country. Most of this variance is based on standard practice from previous generations, hospital buying habits, country purchasing power, and access to capital. For example, the U.S. uses a high number of coronary balloons. Consequently, this country expects to continue using more balloons per PCI than any other region.
In 2020 alone, surgeons performed approximately 4 million angioplasty/PCI procedures globally. Despite the seemingly large number, this was a 20% decrease from the number of procedures in 2019. However, the procedural volume remains strong, and iData’s analysts forecast that in 2027, approximately 7.5 million angioplasty/PCI procedures will occur.
Which companies compete in the global market?
Of the many companies in the global market for coronary balloon catheters, Boston Scientific is the leading competitor, followed by Medtronic and Philips.
Boston Scientific Corporation (BSC) is a worldwide leading company in the medical industry. It was founded in 1979 as a medical products company called Medi-Tech. Boston Scientific offers the Maverick™, Apex™, and Emerge® PTCA devices, as well as the Flextome™ cutting balloon catheter. The company also offers the Agent™ drug-coated balloon catheter, which provides a targeted, therapeutic dose of anti-proliferative paclitaxel to the lesion. Most of the company’s success in the U.S. is due to its strong position in the PTCA balloon market.
Medtronic was established in 1949 as a medical equipment repair business. Today, Medtronic is a global leader in healthcare and provides medical technologies, services, and solutions. Furthermore, Medtronic offers a vast selection of devices across both the coronary and peripheral markets. Having multiple devices allows it to strategically bundle products and leverage its position in the competitive landscape. The company expects to gain share over the forecast period as it continues to implement this comprehensive strategy.
Philips Healthcare is one of three subsidiaries of Royal Philips, the other two businesses being Personal Health and Lighting Solutions. The company offers its AngioSculpt RX PTCA scoring balloon catheter and its AngioSculpt 7 and 8 mm PTA scoring balloon catheter. Philips expects to continue to focus on specialized devices. By doing this, Philips can leverage its position in the peripheral market to expand its share of the coronary market.
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