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Micro Balloon Catheter Market Size, Share and Forecast 2022-2032

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Ganesh Shinde
Micro Balloon Catheter Market Size, Share and Forecast 2022-2032

The global Micro Balloon Catheter Market is forecasted to be appraised at US$ 416 million by 2032, up from US$ 286 million in 2022, advancing at a CAGR of 3.4% during the forecast period.

The micro balloon catheter is defined as an innovative medical device, which comprises a guidewire and a catheter. It is inserted into the femoral artery in the leg or sometimes in the radial artery in the arm to treat constricted blood vessels.

The demand for micro balloon catheters is increasing due to the increasing prevalence of cardiovascular diseases. The micro balloon catheters also include minimally-invasive procedures for opening blocked or narrowed coronary arteries caused by coronary artery diseases (CAD), which is bolstering the sales of the micro balloon catheters.

The micro balloons catheter market is likely to witness significant growth during the forecast period as there is a rise in the prevention of heart attack and angina in patients suffering from coronary artery diseases.

What are the Key Driving and Restraining Factors in the Micro Balloon Catheters Market?

The major factors driving the growth of the micro balloon catheter market are the rising prevalence of cardiac diseases and the increasing geriatric population. There are growing cases of cardiology intervention procedures worldwide, which is fueling the demand for micro balloon catheters.

Moreover, the surge of interventional cardiology has been facilitating the utilization of micro balloon catheters, and there is a rise in the prevalence of patients affected with end-age renal diseases that are bolstering the sales of micro balloon catheters.

Furthermore, the number of patients seeking renal replacement therapy has also increased. Leading manufacturers of catheter devices are developing efficient and cost-effective solutions. These incidences are anticipated to influence the growth of the micro balloon catheter market over the coming years.

In addition to that, various factors like rising investments in research and development activities concerning micro balloon catheters are expected to boost the demand for this product. The use of micro balloon catheters in cardiac catheterization laboratories is one of the key drivers of micro balloon catheter market shares.

Moreover, a rise in disposable income and growing expenditure in the healthcare sector is fuelling the growth of the micro balloon catheter market. Several governments are providing reimbursement policies to support the people suffering from cardiovascular diseases. These driving factors are responsible for the demand for micro balloon catheters.

Awareness campaign by NGO about awareness of cardiac diseases is a low driving factor for the micro balloon catheter market. New innovative technologies and increasing product launches for balloon catheters have upsurged the growth of the micro-balloon catheter market. The manufacturing or low-cost micro balloon catheters by manufacturing companies can provide the opportunity for this market to grow in low-economic countries.

However, the costs of angioplasty procedures are very high, coupled with the risk of artery collapse and infection related to balloon catheterization, which in turn is expected to impede the sales of micro balloon catheters, restraining the market growth for micro balloon catheters.

Furthermore, there are stringent regulatory authorities and choices of alternatives such as bypass surgery that are likely to hinder the growth of the overall micro balloon catheter market.

Who are the key players in the Micro Balloon Catheters Market?

The key players in the micro balloon catheters market are: Terumo Corporation, Cook Medical, Piolax Medical Devices Inc., Boston Scientific Corporation, Stryker Corporation, Medtronic plc., Edward Life Sciences Corporation, MicroPort Scientific Corporation, B. Braun Melsungen AG.

Key Segments

By Indication:

  • Coronary Artery Diseases
  • Peripheral Vascular Disease

By End-Users:

  • Public Hospitals & Private Hospitals
  • Ambulatory Surgical Centres
  • Cardiac Catheterisation Laboratories

By Balloon Type:

  • High-Pressure Balloons
  • Elastomeric Balloons

By Catheter Type:

  • Over-The-Wire (OTW) Balloon Catheters
  • Rapid Exchange (RX) Balloon Catheters
  • Fixed-Wire (FW) Balloon Catheters

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • MEA

Read More @ https://www.futuremarketinsights.com/reports/micro-balloon-catheter-marke

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Ganesh Shinde
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