Balloon catheter is a delicate catheter device with an inflatable balloon at its tip which may be introduced into a duct or vessel and then blown up to clear the blockage. The balloon catheter is primarily used to treat heart related diseases, specifically coronary heart disease, caused due to diabetes, high blood pressure and high cholesterol level in blood. Utilization of these catheters has been consistently increasing in the health care industry and these devices have become an essential part of medical diagnostics and treatment.
Rise in prevalence of various chronic heart diseases due to high cholesterol or diabetes have increased demand for catheters in the health care industry. According to the World Health Organization, cardiovascular diseases accounted for over 17.7 million deaths in 2015; of these coronary heart disease accounted for around 7.4 million deaths. Furthermore, majority of the deaths occurred in emerging economies due to high prevalence rate and lack of health care services in rural areas. According to the United Nations Population Fund (2015), around 12.3% of the global population comprised people aged 60 years and above and this figure is projected to increase to 22% by 2050. Therefore, rise in geriatric population and demand for minimally invasive procedures are factors fueling the growth of the balloon catheters market in developed as well as in emerging economies. Recent advancements in cardiac procedures such as development of advanced cardiovascular catheter devices has fuelled the growth of the market. However, rise in incidence of catheter-associated infections restrains the market.
The global balloon catheters market can be segmented based on product type, type of material, disease indication, and end-user. In terms of product type, the market can be classified into normal balloon catheter, scoring balloon catheter, cutting balloon catheter, stent graft balloon catheter, and drug eluting balloon catheter. Based on type of material, the balloon catheters market can be segmented into polyurethane, nylon, and other type of materials such as pebax. The polyurethane segment is expected to dominate the balloon catheters market in the near future. In terms of disease indication, the market can be segmented into coronary artery disease and peripheral vascular disease. Based on end-user, the balloon catheters market can be segmented into ambulatory surgical centers, hospitals, and cardiac catherization laboratories.
Geographically, the global balloon catheters market can be segmented into North America, Latin America, Europe, and Asia Pacific, and Middle East & Africa. North America is a leading market for balloon catheters and is expected to dominate the global market during the forecast period. Increased patient awareness, availability of advanced health care facilities and infrastructure, and health care expenditure are the major factors fueling the growth of the balloon catheters market in the region. Asia Pacific is also a major market for balloon catheters and is anticipated to expand at a high growth rate in the next few years. Ongoing improvements in health care infrastructure and growth of medical tourism across several developing economies contribute to the growth of the market in the region.
Major players in the global balloon catheters market are Abbott Laboratories, Edwards Lifesciences Corporation, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Medtronic plc, MicroPort Scientific Corporation, Johnson & Johnson, Jotech GmbH, Teleflex Incorporated, and Vascular Solutions, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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