The balloon valvuloplasty device market, valued at USD 2,251.18 Million, is expected to witness robust growth with a strong Compound Annual Growth Rate (CAGR) of approximately 4.7% during the forecast period (2023-2030), primarily driven by the increasing prevalence of cardiovascular diseases. According to the CDC, cardiovascular diseases stand as the leading cause of death in the United States, resulting in around 647,000 Americans losing their lives annually. This staggering statistic underscores the urgent need for effective treatment options, with balloon valvuloplasty devices emerging as crucial tools in managing heart valve diseases without resorting to open-heart surgery.
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The National Heart, Lung, and Blood Institute (NHLBI)
estimates that approximately 5 million Americans suffer from heart valve
diseases, including valve stenosis. This sizable patient population underscores
the significance of balloon valvuloplasty devices in addressing these
conditions. These devices prove essential in managing heart valve diseases,
offering a minimally invasive alternative to traditional open-heart surgery.
Major market players such as Medtronic plc, Terumo
Corporation, Boston Scientific Corporation, Abbott, Edwards Lifesciences
Corporation, B. Braun, BD, BVM MEDICAL LTD, TORAY INDUSTRIES, INC., and Balton
are actively involved in mergers, acquisitions, and partnerships to deliver
cutting-edge and innovative products and technologies to consumers.
Insights from the report highlight that the 29mm category of
balloon valvuloplasty devices is anticipated to experience substantial growth
during the forecast period. These devices cater to patients with valvular
stenosis, offering a larger diameter balloon to dilate the stenotic heart
valve. The procedure involves the insertion of a deflated balloon catheter into
the affected valve through a blood vessel, typically the femoral artery, and
inflation of the balloon to stretch and open the narrowed valve, thereby
improving blood flow.
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In terms of end-users, hospitals are expected to witness
significant growth during the forecast period. Factors driving this trend
include disease prevalence, advancements in treatments and technology, quality
of care, availability of specialized physicians and skilled nursing staff, and
financial incentives provided by health insurance companies. Hospitals, as
primary treatment centers, can leverage economies of scale to provide efficient
and cost-effective services to a large number of patients, making them a
pivotal player in the market.
The global balloon
valvuloplasty device market can further be customized as per the
requirement or any other market segment. Besides this, UMI understands that you
may have your own business needs, hence feel free to connect with us to get a
report that completely suits your requirements.
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