(MENAFN- GlobeNewsWire - Nasdaq) Newark, New Castle, USA, May 26, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports estimated the size of the global market for cutting angioplasty balloons in 2022 to be worth US$ 218.38 million , and it is expected to increase at a revenue CAGR of 6.32% to reach US$ 356.56 million by 2031 . The global market for cutting angioplasty balloons was analyzed and is expected to significantly increase revenue share during the forecast period. A medical instrument called a cutting angioplasty balloon is employed in interventional cardiology to treat blood vessels that are blocked or constrained, notably those in the coronary arteries.
Key Takeaways:
The increasing number of patients with cardiovascular diseases is driving the market revenue share. Technological advancements in surgical procedures are driving the market demand. The rising demand for minimally invasive procedures is raising the market revenue growth rapidly.
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Cutting Angioplasty Balloon Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 218.38 million |
| Revenue Forecast in 2031 | US$ 356.56 million |
| CAGR | 6.32% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Product Type, Application, End User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Cutting Angioplasty Balloon Market:
In September 2022, Lepu Medical Technology (Beijing) Co., Ltd. was given marketing approval for its Vesscide peripheral cutting balloon by China's National Medical Products Administration, which is used to treat peripheral artery disease. In July 2022, The Food and Drug Administration granted BrosMed Medical approval for its TicheTM 0.035" PTA Balloon Dilatation Catheter.
Competitive Landscape
A list of the prominent players operating in the global market for cutting angioplasty balloons includes:
Abbott Laboratories, Inc. Becton Dickinson & Company Cook Medical Koninklijke Philips N.V. Merit Medical Systems, Inc.
Market Drivers and Restraints:
The global cutting angioplasty balloon market revenue is driven by rising cardiovascular disease, growing awareness and preference for minimally invasive procedures, and increasing healthcare expenditure. Furthermore, favorable government initiatives and reimbursement policies are contributing to the market revenue share.
However, due to the high prices, the scarcity of specialists with the necessary skills, and the limited availability of cutting-edge medical facilities, the cutting angioplasty balloon market revenue growth is expected to be restrained.
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Market Segmentation:
Segmentation By Type
Based on the types, the conventional cutting balloons segment dominates the global cutting angioplasty balloon market with the largest revenue share. This large revenue share is attributed to their effectiveness in successfully increasing blood flow and minimizing the need for additional procedures.
Segmentation By Application
Based on the application, the coronary artery diseases segment dominates the global cutting angioplasty balloon market with the largest revenue share. The significant revenue share is attributed to the rising prevalence of coronary artery diseases and successful patient outcomes. Furthermore, the growing adoption of minimally invasive procedures is contributing to the market revenue growth.
Segmentation By End User
Based on end-user, the hospital's segment accounts for the highest revenue share in the global cutting angioplasty balloon market due to the cutting-edge medical facilities, prevalence of chronic disease, and adoption of telemedicine by hospitals.
Regional Growth Dynamics
Based on the region, North America, with the largest revenue share, dominates the global cutting angioplasty balloon market. The demand for cutting angioplasty balloons is driven by the rising frequency of cardiovascular diseases and the expanding use of minimally invasive techniques in this region. The expansion of the cutting angioplasty balloon market in North America is also being aided by the presence of significant market players and reimbursement policies in the region.
Report Coverage
Growth Plus Reports analyzed the global market for cutting angioplasty balloons in-depth. We studied the fundamental market characteristics, significant investment sectors, regional growth analytics, revenue estimates, competing market players, and mergers and acquisitions.
Table of Content
INTRODUCTION Market Ecosystem
Timeline Under Consideration
Historical Years – 2021
Base Year – 2022
Forecast Years – 2023 to 2031
Currency Used in the Report
RESEARCH METHODOLOGY Research Approach
Data Collection Methodology
Data Sources
Secondary Sources
Primary Sources
Market Estimation Approach
Bottom Up
Top Down
Market Forecasting Model
Limitations and Assumptions
PREMIUM INSIGHTS Current Market Trends (COVID-19 Perspective)
Key Players & Competitive Positioning (2022)
Regulatory Landscape
MARKET DYNAMICS Drivers
Restraints/Challenges
Opportunities
GLOBAL CUTTING ANGIOPLASTY BALLOONS MARKET - ANALYSIS & FORECAST, BY PRODUCT TYPE Conventional Cutting Balloons
Drug Coated Cutting Balloons
Scoring Balloons
GLOBAL CUTTING ANGIOPLASTY BALLOONS MARKET - ANALYSIS & FORECAST, BY APPLICATION Peripheral Artery Diseases
Coronary Artery Diseases
GLOBAL CUTTING ANGIOPLASTY BALLOONS MARKET - ANALYSIS & FORECAST, BY END USER Cardiac Centers
Hospitals
Others
cutting angioplasty balloons market toc
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