A Detailed Analysis of the Market for Cutting Balloons Based on Technological Advancements Eying Enhanced Precision and Efficacy in Interventions
Industry: Healthcare
Published Date: February-2024
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 178
Report ID: PMRREP33967
The global cutting balloons market is forecast to expand at a CAGR of 5.8% and thereby increase from a value of US$470.5 Mn in 2023, to US$698.2 Mn by the end of 2030.
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Attributes |
Key Insights |
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Cutting Balloons Market Size (2023E) |
US$470.5 Mn |
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Projected Market Value (2030F) |
US$698.2 Mn |
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Global Market Growth Rate (CAGR 2023 to 2030) |
5.8% |
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Historical Market Growth Rate (CAGR 2018 to 2022) |
6.4% |
Cutting balloons are specialized medical devices that are used to repair artery blockages during angioplasty treatments. Cutting balloons, as opposed to conventional balloons, include microsurgical blades on their surface that allow for exact incisions into the plaque accumulation inside blood arteries. Better dilatation and vessel reshaping are made possible by the blades' controlled cuts during the balloon's inflation. With the help of this cutting-edge technology, angioplasty should be more successful, especially in cases of complicated lesions that are difficult to treat with conventional balloons.
The market for cutting balloons is expanding significantly because of the rising incidence of cardiovascular illnesses and the need for cutting-edge interventional cardiology treatments. Healthcare professionals are paying close attention to the market's breakthroughs in cutting-edge designs and materials, which are focusing on enhancing procedure outcomes and patient safety. This is opening up lucrative potential for medical device producers.
The cutting-edge technological advances of late have been a major factor in the market's expansion. Recent developments in research and development have brought about innovative designs that improve the accuracy and effectiveness of angioplasty treatments. Better lesion modification and vessel dilatation are made possible by innovations, including new materials, enhanced blade designs, and sophisticated inflating systems. The ongoing development of these technological advancements not only overcomes the drawbacks of conventional angioplasty techniques but also draws medical experts looking for more potent instruments for intricate treatments. The growing demand for cutting-edge balloons with cutting capabilities presents an opportunity for manufacturers who engage in R&D to stay on the cutting edge of technological breakthroughs.
Moreover, the market for cutting balloons is being driven in large part by the rising incidence of cardiovascular illnesses around the world. Atherosclerosis and artery blockages are becoming increasingly common as sedentary lifestyles and processed food consumption become the norm. Cutting balloons provides a focused and effective way to treat complicated lesions that may be difficult to treat with traditional angioplasty techniques. The need for sophisticated interventional cardiology treatments is increasing due to the aging population and the rising prevalence of cardiovascular diseases. Cutting balloon producers have a significant market opportunity as a result of the increasing number of patients requiring angioplasty operations for artery stenosis or occlusion. This puts them in a position to handle the growing healthcare needs related to cardiovascular problems.
Growing Regulatory Scrutiny, and Compliance Challenges
The growing regulatory attention and related compliance issues notably constrain the market for cutting balloons. Cutting balloon producers find it more difficult to gain regulatory approvals as a result of the medical device industry's increasingly strict norms and requirements. Following changing regulations necessitates significant expenditures in regulatory affairs and quality assurance, which could impede the pace of product development and market launch. The stringent regulatory environment presents a challenge to new players and can even put more strain on established ones. Maintaining a market presence requires navigating a complex web of regulatory standards, which can lead to longer deadlines and greater costs, which in turn can significantly impede the expansion of the cutting balloons industry.
Competitive Pricing Pressures
The growing rivalry and accompanying pricing pressures provide a big obstacle in the cutting balloons business. There is more rivalry as more producers compete for market share as the market expands. Price wars are frequently the outcome of this competitive environment, which affects manufacturers' profit margins. Companies in the cutting balloons market face significant challenges in maintaining product quality, investing in innovation, and managing pricing pressures. These challenges necessitate strategic decision-making to ensure sustainability and profitability.
Rising Minimally Invasive Interventions
The market for cutting balloons has a lot of potential due to people's growing demand for less invasive surgeries. Minimally invasive procedures like angioplasty with cutting balloons are becoming more and more popular as patients and healthcare professionals seek out treatments with shorter recovery times and lower procedural risks. The trend toward less intrusive procedures is supported by cutting balloons' capacity to accurately target and change artery lesions while reducing harm to neighbouring tissues. Manufacturers should take advantage of this by improving cutting balloon designs, making them easier to use, and emphasizing how these devices can help patients heal more quickly and spend less time in the hospital.
Furthermore, potential development opportunities exist in the market for cutting balloons through expansion into emerging markets and untapped regions. Aging populations and changing lifestyles frequently result in an increased burden of cardiovascular illnesses in developing nations. These areas can still lack access to cutting-edge medical technology, though. Manufacturers may take advantage of this by carefully entering these markets, providing affordable solutions, and working with regional healthcare providers. Companies can meet unmet medical requirements, grow their clientele, and enhance the general quality of healthcare infrastructure in underserved areas by forging a strong presence in these locations.
They see a bright future for the cutting balloons market, with continuing expansion and innovation. The market is anticipated to have a spike in demand because of the growing emphasis on minimally invasive procedures, especially when treating complex cardiovascular problems. Improved designs, materials, and drug-coating capabilities are examples of technological improvements that are expected to have a significant impact on the market environment. Cutting balloons are set to stay at the forefront of interventional cardiology as long as patients and healthcare professionals continue to emphasize efficient and less invasive treatment choices.
Furthermore, rising cardiovascular disease rates worldwide, particularly in developing nations, are expected to fuel market expansion. Significant growth prospects are anticipated because of the strategic market penetration and acceptance of cutting-edge solutions in these regions. For market participants navigating this dynamic environment, regulatory compliance and changing reimbursement landscapes will be critical factors to consider.
Supply-side Dynamics
The cutting balloons market's supply-side dynamics are defined by an ongoing stream of technological developments and improvements propelled by fierce manufacturer competition. To improve the effectiveness and safety of cutting balloon interventions, businesses are heavily spending on R&D to create innovative designs, materials, and features. The quest for improvement and uniqueness is essential to obtaining a competitive advantage in the marketplace. In order to maintain profitability in the cutting balloons industry, manufacturers are also concentrating on streamlining their production methods to guarantee cost-effectiveness without sacrificing quality.
Additionally, balloon manufacturers and healthcare facilities frequently form strategic alliances and partnerships. By facilitating the incorporation of state-of-the-art technologies into clinical practice, these alliances seek to guarantee that medical practitioners have access to the newest developments. Because medical devices are coming under more and more scrutiny, market participants are likewise paying attention to regulatory compliance. Maintaining strict quality standards and gaining required certifications are essential for getting into the market and building end-user trust. Manufacturers must strike a balance between innovation, cost-effectiveness, and compliance as the market for cutting balloons expands to satisfy the changing demands of both consumers and healthcare practitioners. The industry's dedication to developing medical technology and enhancing patient outcomes in the field of interventional cardiology is reflected in this dynamic supply-side environment.
Which is the Spearheading Product Segment?
Drug-Coated Cutting Balloons Pre-eminent for Targeted Lesion Correction, and Medication Delivery Advantages in Vascular Treatments
The product segment is divided into drug-coated, conventional, and scoring. The market share of the drug-coated cutting balloons segment is presently the highest. The primary driver of this segment's growth is the growing need for novel solutions that integrate the advantages of targeted lesion correction with medication delivery. For intricate vascular treatments, drug-coated cutting balloons are the preferable option due to their increased efficacy in preventing restenosis. The fastest-growing market is scoring cutting balloons, driven by the increasing use of scoring technology for accurate vessel alteration. The need for better procedural results and fewer issues during angioplasty treatments is driving this market's expansion. The segment is growing quickly because of the scoring function, which makes regulated incisions possible and improves the effectiveness of the intervention.
Which is the Key Application Area?
CAD Represents the Leading Area of Application
The application segment is sub-segmented into coronary artery disease, and peripheral artery disease. The market sector that accounts for the largest portion of cutting balloons is coronary artery disease (CAD). Due to the high global prevalence of CAD and the growing need for sophisticated interventional cardiology therapies, this market is dominating. Cutting balloon usage for precise lesion modification during angioplasty treatments is driven by the increasing prevalence of arterial blockages in coronary vessels, which accounts for a significant portion of the segment's market share. The fastest-growing component is peripheral artery disease (PAD), which is being driven by both the rising prevalence of PAD and an aging population. The market's PAD segment is expanding quickly because of the growing demand for cutting balloons in the treatment of complicated lesions, which is fuelled by the growing awareness of minimally invasive treatment alternatives for peripheral vascular diseases.
Who are the Major End Users?
Hospitals at the Forefront, ASCs Pick Pace in Adoption
The end user segment is categorized into hospitals, cardiac centers, and ambulatory surgical centers. The market for cutting balloons is dominated by hospitals, largely because of the enormous number of interventional operations that are carried out in these settings. Hospitals' extensive infrastructure, which includes specialist cardiac care centres, makes it easier for cutting balloons to be widely used for a variety of vascular operations. Hospitals dominate the market for balloon cutting because of the steady stream of patients with cardiovascular illnesses and the availability of highly qualified medical personnel. The fastest-growing market sector is ambulatory surgical centres (ASCs), which are driven by the growing popularity of outpatient operations and the focus on providing healthcare at a reasonable cost. The quick uptake of cutting balloons in ASCs can be attributed to their convenient and effective environment for modest operations. The notable expansion of this market sector within the cutting balloons industry may be attributed to ASCs' capacity to deliver specialist cardiovascular care in a more easily accessible and patient-friendly setting.
North America’s Key Market Position Intact
North America dominates the market for cutting balloons due to its developed healthcare system, high rate of cardiovascular disease, and aggressive adoption of cutting-edge medical technology. North America's dominance in the cutting balloons market is partly attributed to the region's strong R&D efforts and large spending in healthcare. Cutting balloons is becoming more and more popular in the area thanks to a favourable reimbursement scenario and the presence of important market competitors.
Rapid Growth Poised in Asia East Asia in Line with a Rapid Rise in CVDs
East Asia is the fastest-growing area in the cutting balloons market, owing to rising cardiovascular disease incidence, rapid developments in healthcare infrastructure, and a growing emphasis on interventional cardiology in countries such as China, and Japan. The increased expansion of cutting balloons in East Asia can be attributed to the increasing use of novel medical technologies and the growing awareness of minimally invasive procedures. The enormous patient pool and rising healthcare costs in the area highlight East Asia's tremendous growth potential.
Intense competition among major competitors vying for market share and a competitive advantage characterizes the cutting balloons market's competitive landscape. To improve their position in the market, both well-established and up-and-coming producers of medical devices are actively working on new products, forming strategic alliances, and completing mergers and acquisitions. Businesses are concentrating on technology advancements to launch cutting balloons with upgraded characteristics like better blade arrangements, unique materials, and the ability to coat drugs. One of the most important ways for players to stay ahead of the curve and take advantage of new opportunities in the interventional cardiology market is to differentiate themselves through innovation.
In addition, cutting balloon producers frequently use distribution agreements and partnerships with healthcare facilities to broaden their market reach. This makes it possible for businesses to improve their distribution networks, guaranteeing a broader geographic reach and improved end-user accessibility. Companies are acutely aware of regulatory compliance as the market continues to advance, making sure that their products fulfil the strict quality standards and regulatory regulations. A few more elements that impact the competitive landscape are brand reputation, after-sales services, and pricing tactics, all of which are vital in determining the dynamics of the market.
FDA Approval
The FDA granted TriReme Medical 510(K) clearance in June 2020 for their Chocolate PTA Balloon Catheter, a device used in percutaneous transluminal angioplasty (PTA). The FDA approved the device as safe and effective, enabling doctors to use it to provide better treatment for patients.
Market Impact: The Chocolate PTA Balloon Catheter from TriReme Medical has received FDA approval, which is good news for the cutting balloons market. The endorsement strengthens TriReme's line of products and increases confidence in its creative fixes. This advancement fosters the expansion of the market by drawing medical professionals in search of cutting-edge, FDA-approved equipment for percutaneous transluminal angioplasty operations.
Marketing Approval
Lepu Medical Technology (Beijing) Co. in September 2022. Ltd.'s peripheral cutting balloon for the treatment of peripheral arterial disease has been given marketing approval by China's NMPA. China's first peripheral cutting balloon approval goes to Lepu Medical for the treatment of PAD.
Market Impact: An important first step has been taken with China's clearance of Lepu Medical Technology's peripheral cutting balloon for the treatment of peripheral arterial disease (PAD). By addressing the growing need for creative solutions in peripheral interventions, this accomplishment broadens the range of available treatments. It enhances Lepu's market position, helping to propel the cutting balloons market in China.
Sahajanand Medical Technology strengthened its position in structural heart technology in May 2020 when it purchased Vascular Concepts, increasing its offers of coronary medical devices and adding an aortic valve.
Market Impact: Vascular Concepts' acquisition by Sahajanand Medical Technologies in May 2020 had a significant effect on the cutting balloons market. Sahajanand's capabilities are strengthened by the addition of an aortic valve and the extension of its solutions for coronary medical devices. This strengthens the company's position and contributes to the sector's overall growth and leadership in structural heart technology.
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Details |
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Forecast Period |
2023 to 2030 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
US$ Million for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon request |
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The market is anticipated to grow at a CAGR of 5.8% during the projected period.
The cutting balloons market was valued at US$470.5 million in 2023.
The US held the largest market share in 2023.
Some of the prominent players in the market are Abbott, Boston Scientific Corporation, B. Braun Melsungen Ag, Cook Medical, Cordis, Medtronic, Microport Scientific Corporation, Opto Circuits (India) Ltd., Spectranetics (Philips Healthcare), Terumo Corporation, Trireme Medical, LLC (Qt Vascular Ltd.), and Vascular Concepts Limited.
The peripheral artery disease (PAD) segment is likely to grow at the fastest CAGR during the forecast period.
