The global intra-aortic balloon pump market is estimated to grow from nearly US$ 361 Mn in 2017 to nearly US$ 472 Mn by 2027 end. This represents a CAGR of 2.7% over the forecast period of 2017–2027. The global market for intra-aortic balloon pump represents absolute dollar opportunity of US$ 10.9 Mn in 2018 over 2017 and incremental opportunity of US$ 111 Mn between 2017 and 2027.
Increasing acceptance of intra-aortic balloon pump in developing economies
Emerging countries in the Asia pacific region such as China and India are the hotspots for investment opportunities because of increasing prevalence of coronary artery diseases such as unstable angina and myocardial infarction (NSTEMI) and chronic heart diseases. Increasing acceptance of intra-aortic balloon pump in the treatment of the aforementioned disorders and the use of intra-aortic balloon pump during cardiogenic shock will create ample lucrative opportunities for intra-aortic balloon pumps. Quality improvisation of medical treatment, increasing number of partnerships and growing healthcare modernization in these countries will also create ample opportunities for the intra-aortic balloon pump market. To increase their revenue share, medical device manufacturing companies are focusing on the development of catheters and consoles with improved safety and efficacy output, which will indirectly drive the growth of the intra-aortic balloon pump market and subsequently, consumables such as tubing and disposables over the forecast period.
Favorable reimbursement policies for treatment of heart diseases in North America
Increasing government spending on healthcare services in North America is expected to boost the growth of cardiac procedures and subsequently the intra-aortic balloon pump market. As per the center for Medicare and Medicaid Services, the overall healthcare spending in North America is expected to increase at an average of 4.6 percent per year during the period 2016–2019. National health spending in the U.S. is projected to grow at an average of 5.6 percent per year due to the large health insurance coverage impact of the Affordable Care Act. As a result of the increasing trend of government spending, the U.S. is likely to witness expanding interest for overall medical devices, including intra-aortic balloon pumps in 2017.
Product recalls and safety concerns restricting market growth in North America
Adverse events associated with the use of intra-aortic balloon pumps in chronic heart diseases and coronary artery diseases, including numerous injuries and deaths, may hamper the growth of the North America regional market.
Global Intra-aortic Balloon Pump Market Attractiveness Analysis by Region, 2017–2027
North America dominated the global intra-aortic balloon pump market in revenue terms in 2016, and the trend is projected to continue throughout the forecast period. North America is expected to be the most lucrative among all regions, with an attractiveness index of 2.0. Europe is expected to be the second largest market for intra-aortic balloon pumps, with a market share index of 1.4. APAC will remain the third largest market due to increasing demand for intra-aortic balloon pump in the region. APAC represents a market share index of 0.9 while Latin America represents a market share index of 0.4 over the forecast period. MEA is expected to remain the least attractive in the global market in revenue terms with an attractiveness index of 0.3 over the forecast period.
Increasing discretionary funding for research and development activities a growing trend in the United States
There is an ever increasing demand for intra-aortic balloon pumps in hospitals as well as independent catheterization labs in North America due to increasing prevalence of chronic heart diseases and coronary artery diseases. The demand for advanced balloon pump is also increasing to minimize further complications in balloon catheters. Since the past decade, research and development activities for medical devices have reached a feverish level. Various governments and institutes have allocated budgetary funds and grants for research and development activities to develop novel and cost-effective technology based devices that will lead to improved outcomes and low diagnosis expenditure, resulting in heavy investment in research activities. For instance, according to the American Association for the Advancement of Science (AAAS), the federal government of the U.S. pays almost $140 billion each year for medical, technological and scientific research and development.
The report ‘Intra-aortic Balloon Pump Market: Global Industry Analysis (2012-2016) and Forecast (2017-2027)’ is a comprehensive compilation on the intra-aortic balloon pump market and contains exclusive information regarding the market analysis, growth and forecasts for the period from 2017 till 2027. Intra-aortic balloon pump is a polyethylene balloon mounted on a catheter and inserted into the aorta through the femoral artery in the leg. The intra-aortic balloon assists the heart during both its rest phase and work phase. The pump is available in a wide range of sizes (2.5 cc to 50 cc) that will fit patients of any age and size. IABPs have been in clinical use to reduce acute heart failure symptoms or improve cardiac output. These pumps are used for temporary support in patients with acute reversible heart failure. It is to be noted that in this report, installation and maintenance cost of the intra-aortic balloon pump console is not considered while calculating the final ASP of the instruments.
In the introduction, the pertinent market numbers of the global intra-aortic balloon pump market are given along with the CAGR for the forecast period 2017-2027. The introduction also contains an executive summary of this detailed report through which the report audiences can have a cursory glance at this vast market. In the introduction, the opportunity analysis of the global intra-aortic balloon pump market is given. Besides this, the macroeconomic factors affecting the intra-aortic balloon pump market and their weightage factor is also mentioned. Regulations governing the intra-aortic balloon pump market in the key market of United States are also covered in the introduction. In addition, Porter’s Five Force analysis of the global intra-aortic balloon pump market is given. A valuable subsection in the introduction contains the pricing analysis by region and volume analysis by product type for the years 2017 and 2027. At the end of the introduction, heart disorders epidemiology data analysis for all the major regions is stated.
The next section of the report contains the regional intra-aortic balloon pump market analysis and forecast as well as important market metrics such as the BPS analysis, year-on-year growth rates, absolute dollar opportunity and market attractiveness analysis of the intra-aortic balloon pump market. In this section, the regional drivers, restraints and trends are also given so that the report audience knows what factors are aiding the growth of this market and what factors are hampering the growth of this market across the various assessed regions. Besides the drivers and restraints, the trends that are applicable in the global intra-aortic balloon pump market are also discussed region-wise in this section.
The next section of the report focuses on the competitive landscape of the intra-aortic balloon pump market. This part constitutes information on the key market players. This competition landscape gives a dashboard view of the top companies operating in the global intra-aortic balloon pump market along with their important information and broad strategy adopted to stay as leaders in the global intra-aortic balloon pump market. Each of the leading companies is also profiled individually and important information about the company such as company details, company description, product portfolio along with key developments concerning the company and strategic analysis is presented.
Why should you invest in this report?
If you are ready to enter the global intra-aortic balloon pump market, this report is a comprehensive guide and will give you crystal clear insights into this vast and lucrative market. All the aspects of the intra-aortic balloon pump market are covered in this report and information is also given on the various important regions of the world where this market is likely to boom in the near future and during the forecast period of 2017-2027 so that you can plan your strategies accordingly. Besides, through this report, you can gain a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, then this report will help you gauge the strategies that your competitors have adopted to stay as leaders in this market.
A tested and proven research methodology for accurate estimation of market performance
Overall market size has been analyzed through historical data, primary responses, and public domain data. Revenue of companies in the intra-aortic balloon pump market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to forecast the market size over the forecast period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated using the triangulation method and is extensively scrutinized using advanced tools to garner quantitative and qualitative insights into the global intra-aortic balloon pump market.