The research study covers the present scenario and growth prospects of the global angioplasty balloons market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top vendors operating in the market.
Drug-coated balloon angioplasty has become a first-line treatment for coronary artery disease (CAD). This has led vendors to acquire companies that offer drug-coated balloons. For instance, Spectranetics acquired AngioScore for $230 million in June 2014 and Covidien’s Stellarex line of drug-coated angioplasty balloons for $30 million in January 2015. These acquisitions will lead Spectranetics to become a major competitor for Tier 1 companies during the forecast period.
Technavio healthcare and life sciences analysts highlight the following four factors that are contributing to the growth of the global angioplasty balloons market:
- Incidence of cardiac diseases and adoption of PCI
- Presence of specialized cardiologists
- Outsourcing research studies on PCI devices to CROs
- Venture capitals for market entry of start-ups and small companies
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Incidence of cardiac diseases and adoption of PCI
The incidence of cardiac diseases is on the rise worldwide. In 2015, the CDC estimated that these diseases caused about 610,000 deaths in the U.S. The organization also estimates that coronary heart disease was the most common cardiac disease, causing 375,000 deaths in the U.S. annually.
For treating coronary heart disease, physicians perform coronary angioplasty and stenting, a part of percutaneous coronary intervention (PCI), for diagnosis. These procedures help confirm the severity of the disease, with the physician performing coronary stenting to treat the blocked arteries. Angiography involves the insertion of balloon catheters to widen the narrowing arterial walls that can obstruct normal blood flow. Physicians may insert stents to keep the blood vessel open. This procedure helps reduce the risk of stroke in people with CAD.
Srinivas Sashidhar, a lead cardiovascular devices research analyst at Technavio, says, “The rise in the cases of cardiac disorders will increase the volume of treatment procedures that include disease diagnosis and cardiac surgeries. This will increase the number of PCI procedures, which will lead to the demand, sales, and use of angioplasty balloons.”
Presence of specialized cardiologists
“Cardiologists specializing in the treatment of diseases and conditions of the heart and blood vessels are required for cardiovascular procedures. Many hospitals and cardiac centers worldwide, particularly in emerging countries, have highly skilled cardiologists who perform successful procedures. They are opting for interventional techniques to treat various CVDs due to their less invasive nature,” adds Srinivas.
Hospitals use established cardiology procedures such as percutaneous transluminal coronary angioplasty ( PTCA ), diagnostic angiography, and coronary stenting to treat individuals with CADs. Many vendors are expanding into developing countries due to the presence of experienced surgeons who can efficiently use angioplasty balloons for treating CADs. Vendors are also conducting medical education programs and practice sessions to train surgeons in surgical techniques and device implantation.
Outsourcing research studies on PCI devices to CROs
Medical device manufacturing companies outsource their research activities and clinical trials to contract research organizations (CROs). These organizations can be individual contract research companies or universities that conduct clinical research. The business relation between CROs and manufacturers is based on their product deliverables.
CROs used to only conduct clinical trials to evaluate the safety and efficacy of balloon catheters and stents. However, these organizations are now helping manufacturers in developing these devices. They are also engaging in tie-ups with regulatory agencies for pre- and post-market approvals of balloon catheters and stents, which help minimize the duration of regulatory approval.
Venture capitals for market entry of start-ups and small companies
New players approach venture capitalists to enter into niche markets such as the area of angioplasty balloons. These capitalists have started realizing the significant potential of start-ups that develop innovative technologies and products in the area of CVDs. This has increased the financial flow support from venture capitalists, which is accelerating the development of embolic protection devices and is leading to the market entry of start-ups. Post registration and market approvals, venture capitalists take a share from the total revenue generated by the start-ups.
- Abbott Laboratories
- Boston Scientific
- C. R. Bard
Browse Related Reports:
- Global Coronary Artery Disease Treatment Devices Market 2015-2019
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- PTCA Balloon Catheter Market in China 2015-2019
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
(Source: Business Wire)