Adoption of cutting balloon catheter is expected to remain sluggish during the forecast period. This is primarily owing the arrival of better alternatives for undertaking minimally invasive endovascular procedures. Due to tremendous advancement in medical technology, a slew of advanced catheters have been developed to treat arterial atherosclerosis. In addition, rising prevalence of cardiovascular ailments is prompting the need for more efficient balloon catheters. Medical device manufacturers are focusing on developing multipurpose balloon catheters owing to a higher consumer preference for such devices. Factors as such are making a negative impact on the global sales of cutting balloon catheters. However, cutting balloon catheter will stay relevant to most healthcare settings as surgeons and physicians will continue to use them in various medical cardiovascular surgeries. As per the latest report published by Fact.MR, the Global Cutting Balloon Market will expand at a miniscule CAGR of 2.4% between 2017 and 2022.
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A cutting balloon catheter is a medical device used in angioplasty procedures, and was invented by Barath et al. It allows percutaneous coronary interventions in arteries or veins. The device incorporates a distinctive tip with microsurgical blades, which can be activated by inflating the balloon. Boston Scientific's Flextome is the one of the most commonly used cutting balloon catheter device.
North America Spearheading the Global Cutting Balloon Catheter Market
The cutting balloon catheter market in North America is expected to remain attractive in 2017 and beyond. This is owing to existence of an advanced healthcare infrastructure coupled with the rising healthcare spending in countries such as the U.S. and Canada. Meanwhile, Europe is estimated to account for more than 30% revenue share of the market by 2017-end. The market in Asia-Pacific excluding Japan (APEJ) is projected to witness the higher CAGR during the forecast period.
On the basis of indication, the coronary artery disease cutting balloon catheter segment is projected to hold its dominant position over the assessment period. Currently, the segment accounts for close to 73% share of the market in terms of revenue. In addition, the segment is expected to reach a market valuation of over US$ 134 Mn towards the end of 2022.
Based on end user, the hospitals segment will retain its dominance over 2022. The segment is projected to surpass a valuation of US$ 121 Mn by the end of forecast period. The segment currently accounts for nearly 67% revenue share of the global market and is expected to create absolute $ opportunity of US$ 12 Mn from 2017 to 2022.
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Abbott Laboratories, Boston Scientific Corporation, Terumo Corporation, Medtronic Plc., B. Braun Melsungen AG, BIOTRONIK SE & Co. KG, Cordis Corporation, Cook Medical Inc., MicroPort Scientific Corporation, Cardionovum GmbH, Meril Life Sciences Pvt Ltd, and Hexacath are the leading market players mentioned in the Fact.MR’s report. Majority of these player are concentrating on further production innovation.
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Global Cutting Balloon Catheter Market Extensive Growth Opportunities to be Witnessed by 2022
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