Asia Pacific Balloon Catheters Market Report and Forecast 2024-2032

Asia Pacific Balloon Catheters Market Report and Forecast 2024-2032

Asia Pacific Balloon Catheters Market Report and Forecast 2024-2032

Asia Pacific Balloon Catheters Market Outlook

The global balloon catheters market size was valued at USD 4.5 billion in 2023, with Asia Pacific holding a significant market share. The market is driven by the rising prevalence of cardiovascular diseases. It is expected to grow at a CAGR of 13.20% during the forecast period of 2024-2032, with the values likely to attain USD 8.1 billion by 2032.

Key Takeaways

• In Asia Pacific, the prevalence of cardiovascular diseases is rising, with studies reporting that South Asians have the highest coronary artery disease (CAD) rate at 24%. The increasing disease burden directly impacts the market demand.
• The rising availability of advanced catheter-based systems is poised to influence the Asia Pacific balloon catheters market share. In April 2024, TekniPlex Healthcare showcased its recently added catheter design and manufacturing capabilities at the China International Medical Equipment Fair (CMEF) in Shanghai.
• One of the major market trends is the influx of growth capital to support the advancement of balloon catheter products. In April 2023 , Innvolution Group secured funds from an investment firm, OrbiMed, to boost its research and development activities and enable market expansion of its interventional cardiology portfolio including balloon catheters.

Asia Pacific Balloon Catheters Market Analysis

Balloon catheters are specialized medical devices with a long, flexible tube with an inflatable balloon at its tip. Its application is primarily involved in angioplasty procedures, where it is used to open blocked or narrowed blood vessels and improve blood flow. Balloon catheters play a crucial role in minimally invasive procedures, leading to reduced recovery times and lower risk as compared to open surgeries. The rising patient inclination towards less invasive surgical techniques and the increasing use of the device in interventional cardiology is expected to drive the Asia Pacific balloon catheters market growth.

In Asia Pacific, the prevalence of cardiovascular diseases is rising, with studies reporting that South Asians have the highest coronary artery disease (CAD) rate at 24%. This increase is attributed to factors such as the growing elderly population and lifestyle changes. The high prevalence rate directly impacts the market demand as balloon catheters are widely used in treatments like angioplasty and stent placements. Moreover, the surge in the demand for these medical devices is also stimulating technological innovations and attracting substantial investments from key market players which is likely to fuel Asia Pacific balloon catheters market share.

In April 2024, TekniPlex Healthcare, a leading provider of medical device components and material science solutions, showcased its recently added catheter design and manufacturing capabilities at the China International Medical Equipment Fair (CMEF) in Shanghai. The company highlighted its PTA/PTCA Balloon Catheter Tubing for applications in coronary and non-coronary angioplasty applications. The product is manufactured and extruded in ISO-certified cleanrooms as well as holds the ability to incorporate up to three layers of specified raw materials. The rising availability of such product service solutions for catheter-based systems is anticipated to elevate the Asia Pacific balloon catheters market value in the forecast period.

One of the major market trends is surge in growth capital to support the advancement of balloon catheter products. In April 2023 , India-based Innvolution Group secured funds from a global healthcare-focused investment firm, OrbiMed, to boost its research and development activities and accelerate market expansion. The company comprises two merged entities, Innvolution Healthcare Private Limited (IHPL) and Innovation Imaging Technologies Private Limited (IITPL), boasting a comprehensive portfolio in interventional cardiology including balloon catheters and drug-eluting stents. Such investment initiatives are expected to propel the market growth and support the development of innovative balloon catheter devices that deliver enhanced clinical outcomes.

Asia Pacific Balloon Catheters Market Segmentation  

Market Breakup by Product Type

• PTA Balloon Catheters
• PTCA Balloon Catheters
• Occlusion Balloon Catheters
• Foley Catheters
• Nephrostomy Balloon Catheters
• Drug-Eluting Catheters
• Normal Balloon Catheter
• Cutting Balloon Catheter
• Scoring Balloon Catheter
• Drug Eluting Balloon Catheter
• Stent Graft Balloon Catheter
• Others

Market Breakup by Catheter Type

• Fixed Wire
• Over-The-Wire
• Rapid Exchange

Market Breakup by Balloon Type

• Non-Compliant
• Semi-Compliant
• Compliant

Market Breakup by Material

• Polyurethane
• Nylon
• Others

Market Breakup by Indication

• Coronary Artery Disease
• Peripheral Vascular Disease

Market Breakup by End User

• Hospitals
• Specialty Clinics
• Others

Market Breakup by Countries

• China
• Japan
• India
• ASEAN
• Australia
• Others

Asia Pacific Balloon Catheters Market: Competitor Landscape

The key features of the market report include patent analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Abbott Laboratories
• Becton Dickinson and Company
• Boston Scientific Corporation
• Stryker
• B.Braun Melsungen AG
• Johnson & Johnson
• Teleflex Incorporated
• Medtronic, Plc.
• Edwards Lifesciences Corporation
• BIOTRONIK

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

FAQs

• What is the Asia Pacific balloon catheters market forecast outlook for 2024-2032?

The Asia Pacific balloon catheters market is expected to be driven by the rising demand for the global market, which is anticipated to grow at a CAGR of 6.5% during the forecast period of 2024-2032 and is likely to reach a market value of USD 8.1 billion by 2032.

• What are the major factors aiding the Asia Pacific balloon catheters market demand?

The growing prevalence rate of cardiovascular diseases and the rising patient inclination towards less invasive surgical techniques is fuelling the demand for the market.

• What are the major Asia Pacific balloon catheters market trends?

One of the significant trends in the market is the increased influx of growth capital to support the advancement of balloon catheter products. In April 2023 , Innvolution Group secured funds from an investment firm, OrbiMed, to boost its research and development activities and enable market expansion of its interventional cardiology portfolio including balloon catheters.

• What is the market segmentation based on the product type?

Based on the product type, the market is segmented into PTA Balloon Catheters, PTCA Balloon Catheters, Occlusion Balloon Catheters, Foley Catheters, Nephrostomy Balloon Catheters, Drug-Eluting Catheters, Normal Balloon Catheter, Cutting Balloon Catheter, Scoring Balloon Catheter, Drug Eluting Balloon Catheter, and Stent Graft Balloon Catheter, among others.

• What is the market segmentation based on the catheter type?

Based on the catheter type, the market is segmented into fixed wire, over-the-wire, and rapid exchange catheter.

• What is the market breakup by balloon type?

Based on the balloon type, the market includes non-compliant, semi-compliant, and compliant catheters.

• What is the market breakup by material?

Based on the material, the market includes polyurethane, and nylon, among others.

• What is the market breakup by indication?

Based on indication, the market includes coronary artery disease and peripheral vascular disease.

• What are the major end users of balloon catheters?

Major end users include hospitals and specialty clinics, among others.

• What is the market segmentation by countries?

The market segmentation by countries includes China, Japan, India, ASEAN, and Australia, among others.

• Who are the key players involved in the Asia Pacific balloon catheters market?

The key players in the market are Abbott Laboratories, Becton Dickinson and Company, Boston Scientific Corporation, Stryker, B.Braun Melsungen AG, Johnson & Johnson, Teleflex Incorporated, Medtronic, Plc., Edwards Lifesciences Corporation, and BIOTRONIK.

Meta description

The Asia Pacific balloon catheters market is poised for growth, driven by the expansion of the global market, which was valued at USD 4.5 billion in 2023 and is projected to grow at a CAGR of 6.5% during the forecast period of 2024-2032.

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