The Balloon Introducer System Market is likely to grow on a robust note in the next decade. The next decade would be seeing the integration of telehealth services with the physical ones that exist at the moment. Urgent care and primary care are bound to be accessed through virtual visits, along with improvement in collaboration with the clinics, dialysis centres, long-term care facilities, and mental health services. This shifting is to be witnessed in the healthcare vertical shortly.
According to the newest research by Persistence Market Research, Balloon introducer system market is set to observer a 6-7% growth throughout the forecast years 2021-2031.
The market is expected to observer growth owing to an increase in demand for balloon introducer systems due to rise in prevalence of cardiac disorder. Increase in adoption of stent implants surgery and rising life expectancy by balloon introducer system are some factors that boost the market. Balloon introducer system are used by various surgeons for cardiac surgery.
Introducer” refers to a line that comprises a port allowing a procedurals to “introduce” intra-aortic balloon pumps. The introducer lumen has a one-way diaphragm that prevents back bleeding.
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Primary factor driving the growth of the balloon introducer system demand due to its unique quality which easy technology highly adopted by surgeon. Rise in prevalence of cardiac disorder can also give positive growth to market. Implementation of balloon introducer system in hospitals is one of the solution for patient to increase life expectance.
According to reported data in June 2021 by World Health Organization, in 2019 17.9 Mn people expired due to CVDs, 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke.
According to reported data in my 2020 by Centers of disease control and prevention, Coronary heart disease is common in cardiac disorder and about 365.9 Mn people detected with CAD in 2017. Around 18.2 Mn adults of 20-aged and older have CAD and Adults less than 65 years old died due to CAD i.e 2 in 10.
Balloon Introducer System is basically used on patients on arteriosclerosis, undergoing intra-aortic pump procedures (IABP). The reduction in operation hours for doctors with minimum-invasive operating practices with the help of balloons introducer system.
Traditional invasive diagnostic angiography has been replaced by non-invasive imaging techniques i.e most accepted by patients. This give major impact on endovascular system and growth in future. Therefore, such advantageous benefit provided by Balloon Introducer System devices augment the market growth over the forecast period.
Rising prevalence of cardiovascular diseases artery can boosting the market in U.S and Canada. Growing awareness about heart diseases and the excessive adoption of innovative technology by the American people is the major factor of supremacy in this area. There are 2,353 deaths from cardiovascular each day, in 2017 as per American heart association.
Furthermore, wide R&D happenings and effort by key players to make cost-effective and advanced balloon introducer systems are acting as key development drivers in the U.S. market. Furthermore, technological developments in case of Balloon Introducer System devices are likely to augment the market growth.
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Europe keeps growing its healthcare sector to meet the demand of the increasing population. Europe provide well-established healthcare infrastructure and advanced technology for patients and also Covid-19 and Post-covid related cardiac disorders in this region are some factor that can give boost to market in this region.
Cardiovascular disorder is seen more as age passes and Europe has more old age population. As per WHO, 20% of Europe’s population covered of 65 and above age people in 2020 that is approximately equal to 91 Mn. It will be going to increase the demand of balloon introducer system in this region during the forecast period from 2021 to 2031.
Some of the leading manufacturers and suppliers of balloon introducer system include,
- Abbott Laboratories
- B. Braun Melsungen AG
- Becton Dickinson and Company
- Biotronik AG
- Boston Scientific Corporation
- Cardinal Health Inc.
- Cardionovum GmbH
- Concept Medical Inc.
- Cook Group
- Hexacath
- Koninklijke Philips N.V.
- Medtronic plc
- MicroPort Scientific Corporation
- OrbusNeich Medical
- Terumo Corporation.
Increasing focus on merger and acquisitions for rising product portfolios are the strategies adopted by these companies to increase market share.
For instance, In 2020 Medtronic acquired Medicrea, company known for artificial intelligence driven surgeries.
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Key Segments
By Product Type
- Normal Balloon Introducer
- Cutting and Scoring Balloon Introducer
- Drug-Coated Balloon Introducer
- Stent Graft Balloon Introducer
By Technology
- Rapid Exchange (Rx)
- Over the Wire (OTW)
- Fixed Wire Balloon Catheter
By Application
- Coronary Artery Diseases
- Peripheral Artery Diseases
- Neurovascular Diseases
By Distribution Channel
- Hospital
- Ambulatory Surgical centers
- Catheterization Laboratories
- Others
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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