The present invention relates to medical devices for dilating or enlarging strictures or narrowed regions of body vessels. Specifically, the present invention relates to a high pressure dilation balloon catheter that includes an elongate shaft extending between a proximal end and a distal end, the proximal end being adapted for attachment to a source of inflation fluid, and a lumen extending through the shaft adapted for the passage of the inflation fluid and a balloon disposed on the distal end of the shaft and having a balloon body extending between a proximal end and a distal end of the balloon. The balloon body includes a first layer, a second layer disposed about at least a portion of the first layer, a plurality of longitudinally extending rib members disposed between the first and the second layers and configured to form a plurality of sealed cavities between the first and the second layers and a balloon chamber within the first layer, the balloon chamber being in a communication with the lumen of the shaft for inflating and deflating the balloon.