2024 Balloon Valvuloplasty Device Market Summary: 5 Key Findings
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What Growth Projections are in Place for the Balloon Valvuloplasty Device Market Between 2024-2033?
The balloon valvuloplasty device market has seen significant growth recently. It is expected to rise from $2.31 billion in 2023 to $2.44 billion in 2024, at a CAGR of 5.7%. The historical growth is attributed to increasing healthcare spending, expansion of healthcare infrastructure, better diagnostics, the shift toward outpatient care, the growth of telemedicine, and an emphasis on enhancing patients’ quality of life.
The balloon valvuloplasty device market size is projected to grow significantly in the coming years, reaching $3.06 billion by 2028, at a CAGR of 5.8%. The forecast period’s growth is driven by the rising prevalence of heart valve diseases among the elderly globally, an increasing preference for less invasive treatments for heart valve conditions, accelerated approvals for new balloon valvuloplasty devices, and a focus on cost-effective healthcare solutions. Major trends include enhanced imaging modalities for accurate diagnosis, personalized medicine approaches, increased investment in research and development, growth of regenerative techniques in cardiovascular disease management, and the integration of digital health technologies.
What Are the Major Factors Contributing to the Balloon Valvuloplasty Device Market Expansion?
The increasing inclination towards minimally invasive procedures is expected to drive the growth of the balloon valvuloplasty device market. Minimally invasive procedures involve medical techniques performed through small incisions or natural openings, leading to less trauma and quicker recovery than traditional surgeries. The demand for these procedures is growing due to shorter recovery times, reduced complication risks, and lower post-operative pain. Balloon valvuloplasty devices are used in such procedures to widen narrowed heart valves, improving blood flow and alleviating symptoms. For example, in January 2024, Intuitive Surgical Inc. reported placing 415 da Vinci surgical systems (robotic systems for minimally invasive surgeries) in the fourth quarter of 2023, a 12% increase from 2022. Therefore, the rising preference for minimally invasive procedures is propelling the balloon valvuloplasty device market.
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Which Key Segments Shape the Balloon Valvuloplasty Device Market?
The balloon valvuloplasty device market covered in this report is segmented –
1) By Product Type: Standard Balloon, Cutting Balloon, Scoring Balloon, High-Pressure Balloon, Low-Pressure Balloon
2) By Age Group: Pediatric, Adult
3) By End-use: Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Other End Uses
What Are the Transformative Trends Influencing the Balloon Valvuloplasty Device Market?
In the balloon valvuloplasty device market, companies are working on advanced products like Pacing Guidewires to gain a competitive edge. A pacing guidewire provides temporary cardiac pacing during procedures, ensuring stable heart rhythms while the balloon catheter is inserted. For example, in June 2023, Teleflex Incorporated, a US medical device company, received FDA clearance for the Wattson Temporary Pacing Guidewire, designed for transcatheter aortic valve replacement (TAVR) and balloon aortic valvuloplasty (BAV) procedures. The guidewire supports both valve delivery and ventricular bipolar pacing, featuring a flexible distal pigtail shape to reduce the risk of ventricular perforation.
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What Regions Are Leading the Growth Trajectory of the Balloon Valvuloplasty Device Market?
North America was the largest region in the balloon valvuloplasty device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the balloon valvuloplasty device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Balloon Valvuloplasty Device Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the balloon valvuloplasty device market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Balloon Valvuloplasty Device Market Include
1. Balloon Valvuloplasty Device Market Executive Summary
2. Balloon Valvuloplasty Device Market Segments
3. Balloon Valvuloplasty Device Market Size And Template Market Growth Rate
4. Key Balloon Valvuloplasty Device Market Trends
5. Major Balloon Valvuloplasty Device Market Drivers
……
25. Key Mergers And Acquisitions In The Balloon Valvuloplasty Device Market
26. Top Balloon Valvuloplasty Device Companies
27. Balloon Valvuloplasty Device Market Opportunities And Strategies
28. Balloon Valvuloplasty Device Market, Conclusions And Recommendations
29. Appendix
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