It is driven by advances in materials science and miniaturization.
The global balloon catheter market is worth $4.4B and is expected to grow at a CAGR of 6.4% to reach $7.6B by 2032, according to ResearchAndMarkets.com.
Advances in materials science, miniaturization and drug elution technologies have driven growth and surged in patent activities, reflecting industry innovation.
Patent filing is accelerating as companies focus on improving flexibility, drug delivery and catheter performance.
The Asia-Pacific region is becoming a key player with 480 historic and 210 ongoing patents driven by increased healthcare demand and investment in catheter technology.
Balloon catheters are essential in the treatment of diseases such as coronary artery disease and peripheral vascular disease, and continue to develop with a focus on durability, flexibility and enhanced drug delivery mechanisms.
The report notes that more than 300 patents focus on new materials and coatings, such as hydrophilic coatings and drug-eluting balloons, to improve catheter durability and performance.
In addition, more than 250 patents target miniaturization, improving flexibility and navigation through complex vascular pathways.
Drug elution technology is another major development area, with more than 200 patents focusing on improving drug delivery for vascular therapy.
