The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Current Market Size and Growth

• 2023: The balloon valvuloplasty device market was valued at $2.31 billion.
• 2024: It is expected to grow to $2.44 billion, reflecting a compound annual growth rate (CAGR) of 5.7%.
• Growth Drivers: Increased healthcare expenditure, expanded healthcare infrastructure, improved awareness, enhanced diagnostic capabilities, preference for outpatient settings, growth of telemedicine, and a focus on patient quality of life.

Future Growth Forecast

Projected Market Size

• 2028: The market is projected to reach $3.06 billion, with a CAGR of 5.8%.

Forecast Drivers

• Elderly Population: Rising prevalence of heart valve diseases among the elderly.
• Adoption of Minimally Invasive Treatments: Growing preference for less invasive procedures.
• Regulatory Approvals: Faster approvals and clearances for new devices.
• Cost-Effective Solutions: Increasing focus on affordable healthcare solutions.

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Key Trends

• Enhanced imaging for precise diagnosis.
• Personalized medicine approaches.
• Increased R&D investments.
• Growth in regenerative techniques for cardiovascular management.
• Integration of digital health technologies.

Market Driver: Minimally Invasive Procedures

Impact of Minimally Invasive Techniques

• Benefits: Reduced recovery times, lower risk of complications, and decreased post-operative pain.
• Application: Balloon valvuloplasty devices are used to widen narrowed heart valves through minimally invasive methods.
• Example: Intuitive Surgical Inc. reported a 12% increase in the use of their da Vinci surgical systems, reflecting the rising trend towards minimally invasive procedures.

Major Players in the Market

Leading Companies

• Cardinal Health Inc.
• Abbott Laboratories
• Medtronic plc
• Philips Healthcare
• Becton Dickinson Company
• Terumo Corporation
• Teleflex Incorporated
• Tokai Medical Products Inc.
• Translumina GmbH
• Meril Life Sciences Pvt. Ltd.
• Toray Medical Company Limited
• QT Vascular Ltd.

Market Trends: Advancements in Technology

Innovative Developments

• New Products: Development of advanced devices such as pacing guidewires.
• Example: In June 2023, Teleflex Incorporated received FDA clearance for the Wattson Temporary Pacing Guidewire, designed to aid in TAVR and BAV procedures.

Merger and Acquisition Activity

Recent Acquisition

• OrbusNeich Medical Group Holdings Limited: Acquired Eucatech AG for $2.3 million in November 2023.
• Strategic Goal: To expand product offerings and enhance cardiovascular treatment solutions.

Market Segmentation

By Product Type:

• Standard Balloon
• Cutting Balloon
• Scoring Balloon
• High-Pressure Balloon
• Low-Pressure Balloon

By Age Group:

• Pediatric
• Adult

By End-Use:

• Hospitals
• Ambulatory Surgical Centers
• Specialty Clinics
• Other End Uses

Regional Insights

Current and Future Trends

• North America: Largest market in 2023.
• Asia-Pacific: Expected to be the fastest-growing region during the forecast period.

The balloon valvuloplasty device market is poised for significant growth, driven by advancements in technology, increasing demand for minimally invasive procedures, and strategic mergers and acquisitions.

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