- Jun 05, 2023
With the evolving healthcare sector, there have been many advancements regarding balloon catheters. It has been a trending topic in the healthcare industry, and many companies have developed their versions. Recover time is being slashed by several leading manufacturers of innovative balloon catheters. As more and more medical professionals select minimally invasive procedures, sophisticated balloon catheter manufacturers are providing the tools needed to enhance patient outcomes.
The US market for balloon catheters was valued at USD 4.60 billion globally in 2021 and is expected to reach USD 7.62 billion by 2028, increasing at a CAGR of 8.78% from 2023 to 2028. The major factors leading to this rise are poor lifestyle, hypertension, increasing cancers, and other diseases, which have led to increased demand for balloon catheters leading to more manufacturing. Further below, you will learn about the top balloon catheter manufacturers in the USA.
Top Manufacturers of Balloon Catheters in the USA
With the rise in demand for balloon catheters, there has been a specific increase in balloon catheter manufacturers in the US. Looking at its significance in many artery related diseases, it is safe to say that the market for catheter manufacturing is huge. To simplify things for you, we have provided a list of the top 7 balloon catheter manufacturers in the USA.
1. Abbott Laboratories
Abbott Laboratories was established in 1888 by Dr. Wallace C. Abbott. One of the largest balloon catheter manufacturer, Abbott Laboratories has its headquarters in Illinois, USA. The brand name for Abbott’s balloon catheter technology is known as “NC Quantum Apex PTCA dilatation catheter.” They specialize in diagnostics, medical devices, nutrition, and branded generic pharmaceuticals. With an estimated annual revenue of $ 43.65 Billion, Abbott Laboratories stands at number 1 on this list.
2. Boston Scientific
Established in 1979, Boston Scientific was founded by John Abele and Pete Nicholas. The company’s headquarters are in Marlborough, Massachusetts, with over 38,000 employees. With an annual revenue of $13.045 Billion, Boston Scientific is one of the leading producers of medical devices and the most significant manufacturer of advanced balloon catheters. They make many advance products like cardiology medical devices such as pacemakers, implantable cardioverter defibrillator and many more which help in an overall well-being of patients. As the demand for cardiovascular medical device expands, countries like USA implementing the cost effective solutions. According to the global market insights, Inc., cardiovascular device market expected to reach $10B by 2027.
3. Medtronic
Medtronic is a global supplier of medical technology and stands in the third position on this list. With its global headquarters in Dublin, Ireland, Medtronic has its operational headquarters in Minneapolis, USA. It was established in 1949 by Palmer Hermundslie and Earl Bakken and is one of the top balloon catheter manufacturers in the USA.
Medtronic is also a leading manufacturer of medical equipment and treatments, including insulin pumps, pacemakers, and treatments for diabetes. It has also put cutting-edge items onto the market, but its ground-breaking cardiac equipment, like battery-powered and small pacemakers, are best known. The company has generated an annual revenue of $7.727 Billion.
4. Cook Medical
Founded by Bill and Gayle Cook in 1963, Cook Medical is one of the leading manufacturers of advanced medical devices, including balloon catheters in the USA. It is the world’s largest privately owned medical device manufacturer and is on this list for a reason. Cook Medical is known for its innovations which have been largely responsible for reducing the need for open heart surgery.
Headquartered in Indiana, USA, Cook Medical has over 13,800 employees and generates an estimated annual revenue of $3 Billion.
5. Teleflex Medical OEM
Headquartered in the Midwestern US, Teleflex Medical OEM was founded in 1943. With an estimated annual revenue of $ 2.791 Million, it is one of the largest balloon catheter manufacturer in the United States. With its vertically integrated capabilities, Teleflex Medical OEM can offer everything from precise extrusion to balloon blowing to device assembly and packaging. It is best known for its medical technologies that have resulted in improving the health and quality of people’s lives.
6. Nordson Medical
Nordson Medical is a leading balloon catheter manufacturer in the USA. It has its headquarters in Ohio, USA, and has been running successfully since 1954. In addition to catheters and cannulas, there are various other components like heat shrink tubing, medical balloons, medical tubing, biomaterial delivery systems, and nitinol components in their expertise. Last year, Nordson Medical generated an estimated $2.6 Billion in revenue, making them a part of this list.
7. Stellartech Research
Headquartered in California, USA, Stellartech Research is a renowned manufacturer of advanced balloon catheters. Radiofrequency, ultrasound, and other energy sources are used in the medical systems that are designed, developed and manufactured by Stellartech. It was founded in 1988 by Roger A. Stern and has generated over $38 Million in revenue annually.
Wrapping Up
Advanced balloon catheters are a need of the hour in the healthcare industry and therefore require more manufacturing. The presence of many companies in the US market largely contributes to the market growth and will immensely impact companies that produce or require balloon catheters. By 2033, the US market of balloon catheters is expected to reach $1.6 Billion, making it a prominent market share.
Above, we have provided the details regarding the advanced balloon catheter manufacturers in the USA. With the help of this list, you can reach out to the manufacturers and approach them for mutual collaborations, joint ventures, and contract manufacturing. Leading manufacturers of balloon catheters are focusing on bringing new launches and developments to increase their market share; after all, the rise in demand calls for a surge in production.
