Medical Rubber and Balloon Product Market Size was valued at USD 1.78 Billion in 2023. The Medical Rubber and Balloon Product market industry is projected to grow from USD 1.85 Billion in 2024 to USD 2.44 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.50% during the forecast period (2024 - 2032). Increasing rates of diseases such as cardiovascular and thoracic and governmental regulation are the vital market drivers expediting the market’s expansion.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for medical rubber and balloon product is being driven by the rising need for personal protective equipment as well as increasing disease rates. Due to the rising need for medical equipment and accessories worldwide, the market for rubber and balloon products for medical use is anticipated to grow at a rapid rate. Additionally, the prevalence of disorders including cardiovascular and thoracic diseases is rising. Developing nations' growing awareness of health issues drives market expansion. However, the market for medical rubber and balloon goods will be constrained by stringent governmental regulations and intense competition at the entry-level market.
The medical rubber and balloon goods market is expected to increase as a result of the increasing patient and healthcare professional knowledge of the benefits of using these products. Healthcare practitioners are more likely to recommend and use these goods in their practice as they become more aware of the uses and advantages of them. Patients who are aware of the value of high-quality medical equipment are more likely to look for healthcare institutions that provide cutting-edge and dependable rubber and balloon items. The market for medical rubber and balloon products also gains from elements like strict regulatory standards and directives. Regulatory organizations are essential in guaranteeing the effectiveness and safety of medical equipment, such as rubber and balloon goods. Manufacturers must adhere to these laws for patients and healthcare professionals to trust their products, which encourages more people to buy them.
The pandemic has increased the demand for personal protective equipment, including as gloves and masks, which has helped the industry expand. Additionally, there are now more chances for manufacturers in the market due to the rise in demand for respiratory devices including ventilator circuits and respiratory masks. Several factors, such as regulatory compliance, partnerships with healthcare providers, and rising awareness among professionals and patients, are driving the medical rubber and balloon products market. The demand for safe, efficient, and technologically cutting-edge rubber and balloon products is anticipated to increase as the healthcare sector continues to develop, offering plenty of room for expansion for manufacturers in this market. Thus, driving the Medical Rubber and Balloon Product market revenue.
The Medical Rubber and Balloon Product market segmentation, based on type includes natural rubber latex, catheters, balloons, condoms, and others. The balloon segment is anticipated to experience the greatest type-based CAGR during the projection period. Products with balloons are frequently used to help heart patients pump their hearts. A balloon of this kind is constructed of rubber. There are numerous types of balloons utilized, including catheters for heat transfer, multi-lumen balloons for delivering endovascular grafts, drug delivery, and light treatment.
The Medical Rubber and Balloon Product market segmentation, based on application, includes diagnostics, therapeutics, industrial, and others. The diagnostics category generated the most income. To open up obstructions or unclog arteries, high-pressure medical balloons are used. Additionally, it is used in other parts of the body to dilate the ureter, heart valve, esophagus, and more. Elastomeric balloons with low pressure are utilized for sealing or occlusion. Innovations in balloon design and technology have increased product designers' freedom
Figure 1 Medical Rubber and Balloon Product Market, by Application, 2023 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Medical Rubber and Balloon Product market area will dominate this market, due to the significant growth of the healthcare and medical sectors and the growing government financing for research and development. In addition, the prevalence of chronic diseases like asthma, COPD, and cardiovascular disease in this region has boosted market expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2 MEDICAL RUBBER AND BALLOON PRODUCT MARKET SHARE BY REGION 2023 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe’s Medical Rubber and Balloon Product market registered as the second-largest market share due to a rise in expenditure across the s healthcare industry. Further, the German Medical Rubber and Balloon Product market accounted for the biggest market share, and the UK Medical Rubber and Balloon Product market was the fastest-growing wine market in the European region
The Asia-Pacific Medical Rubber and Balloon Product Market is expected to grow at the quickest CAGR from 2023 to 2032. This is due to the rising spread of cardiac diseases. Moreover, China’s Medical Rubber and Balloon Product market held the biggest market share, and the Indian Medical Rubber and Balloon Product market was the fastest-growing market in the Asia-Pacific region.
Medical Rubber and Balloon Product Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Medical Rubber and Balloon Product market, grow even more. Market players are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contracts & agreements, mergers & acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Medical Rubber and Balloon Product industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Medical Rubber and Balloon Product industry to benefit clients and increase the market sector. In recent years, the Medical Rubber and Balloon Product industry has offered some of the most significant advantages to medicine. Major players in the Medical Rubber and Balloon Product market, including Abbott Laboratories (U.S.). Adventa Berhad (Malaysia), AngioDynamics, Inc. (U.S.), Ansell Healthcare (Australia), Arrow International (New Zealand), Astra Tech, Inc. (U.S.), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (U.S.), Hartalega Holdings Berhad (Malaysia), Church & Dwight Co, Inc. (U.S.), Latexx Partners Berhad (Malaysia), Reckitt Benckiser Group (U.K), and others, are attempting to increase market demand by investing in research and development operations.
A wide variety of healthcare goods are discovered, developed, produced, and sold by Abbott Laboratories (Abbott), including branded generic medications, diagnostic tools and procedures, and infant, child, and adult nutritional supplements. The business also sells a range of medical devices, such as those for neuromodulation, electrophysiology, rhythm control, vascular and structural cardiac devices, and heart failure. The business also sells dietary supplements, minerals, and nutrition goods. It runs manufacturing sites all around the world and has research and development centers in the US, China, Colombia, India, Singapore, Spain, and the UK. The corporation sells its goods across Africa, the Middle East, Latin America, North America, and the Asia-Pacific region. The US city of Abbott Park, Illinois, is home to Abbott. In April 2023, Abbott said that the purchase of Cardiovascular Systems was complete. The acquisition gives the business access to a supplementary vascular disease treatment option. The business creates its own stents and angioplasty products.
Medical technology and pharmaceutical goods are developed, produced, and distributed by B. Braun Melsungen AG (B. Braun), in addition to offering medical services. Infusion solutions and consumables, cleaning products, infusion pumps and systems, nutrition and pain management, suture materials, hip and knee implants, surgical instruments, dialysis equipment and accessories, ostomy care, and wound care products are some of the company's main offerings. In the areas of anesthesia, extracorporeal blood transfusion, intensive care, cardiology, and surgery, B. Braun offers goods and systems. Additionally, it provides services for medical practices, clinics, and the home care industry. Europe, the Americas, Asia-Pacific, Africa, and the Middle East are all regions where the corporation offers its goods. The headquarters of B. Braun is in Melsungen, Germany. In September 2022, The portfolio of Clik-FIX catheter securement devices was purchased from Starboard Medical by B. Braun Medical, according to an announcement.
Key Companies in the Medical Rubber and Balloon Product market include
Medical Rubber and Balloon Product Industry Developments
March 2023 Ansell, an Australian company that specializes in personal protective equipment, has invested $20 million to construct a facility in Perundurai, Tamil Nadu, to produce surgical gloves.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 1.78 Billion |
| Market Size 2024 | USD 1.85 Billion |
| Market Size 2032 | USD 2.44 Billion |
| Compound Annual Growth Rate (CAGR) | 3.50% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Ansell Healthcare (Australia), Arrow International (New Zealand), Astra Tech, Inc. (U.S.), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (U.S.), Hartalega Holdings Berhad (Malaysia) |
| Key Market Opportunities | Increase healthcare expenditure driven by government initiatives |
| Key Market Dynamics | Increase in diseases such as cardiovascular disorders |
Medical Rubber Balloon Products Market Highlights:
Frequently Asked Questions (FAQ) :
The Medical Rubber and Balloon Product market size was valued at USD 1.78 Billion in 2023.
The market is projected to grow at a CAGR of 3.50% during the forecast period, 2024-2032.
North America had the largest share of the market
The key players in the market are Ansell Healthcare (Australia), Arrow International (New Zealand), Astra Tech, Inc. (U.S.), B. Braun Melsungen AG (Germany), Cardinal Health, Inc. (U.S.), Hartalega Holdings Berhad (Malaysia).
The balloon category dominated the market in 2022.
The diagnostics had the largest share in the market.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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