by The drug eluting balloon market has emerged as a breakthrough technology used for cardiovascular diseases treatment. Drug eluting balloons offer targeted delivery of anti-proliferative drugs to lesion sites, reducing in-stent restenosis. These balloons have catheter-mounted application of drugs to treat arterial diseases like coronary artery disease and peripheral artery disease. They minimize tissue trauma during angioplasty and lower risks of restenosis with controlled drug release properties.
The Global Drug Eluting Balloon Market is estimated to be valued at US$ 769.29 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Drug Eluting Balloon Market Size are Oracle Corporation (NetSuite Inc.), BatchMaster Software, Columbus Manufacturing, Aquilon Software, CompuTec S.A.(ProcessForce), Datacor Chempax, DESKERA, ERPAG, Fishbowl, Intellect, SAGE GROUP plc, and VAI – Vormittag Associates, Inc. The increasing demand for minimally invasive surgeries and advantages of drug eluting balloons over drug eluting stents are fueling market growth. Oracle Corporation (NetSuite Inc.) recently launched new drug eluting balloon products to strengthen its product portfolio.
Rising global disease burden of cardiac diseases and growing geriatric population are key factors augmenting demand. With increasing awareness, adoption of drug eluting balloons is gaining traction in emerging economies of Asia Pacific and Latin America. Players are expanding their manufacturing facilities in these regions for better market penetration.
Market key trends
Edge over drug eluting stents, reduced risks of restenosis, and wide applications in coronary and peripheral arteries are some of the major factors driving increased adoption of drug eluting balloons. Technology advancements allow customization of drug doses and polymer coatings as per lesion type. Ongoing R&D for nanoparticle-based drug delivery and bioabsorbable polymers is expected to further expand applications and outcomes.
Porter’s Analysis
Threat of new entrants: The drug-eluting balloon market has high costs for R&D and clinical trials which pose a barrier for new entrants. However, there are opportunities for innovative technologies.
Bargaining power of buyers: Individual buyers have low bargaining power as they have little influence over prices in this specialized market. However, group purchasing organizations have some bargaining power.
Bargaining power of suppliers: A few major players dominate the supply of drug-eluting balloons, giving them significant bargaining power over buyers. Suppliers of raw materials also have moderate power.
Threat of new substitutes: Some substitute treatments exist such as drug-coated stents but drug-eluting balloons offer advantages in terms of safety and effectiveness. Potential new substitutes could emerge with technological advances.
Competitive rivalry: The market is growing but competition is intense as major players compete on product quality, features, and strategic partnerships & collaborations.
Geographical regions of concentration:
North America accounts for the largest share of the Global Drug Luting Balloon Market, primarily due to advanced healthcare infrastructure and high availability of technologically advanced products in the region.
Fastest growing region:
The Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to increasing healthcare expenditure, growing medical tourism, rising incidence of cardiovascular diseases, and improving accessibility of healthcare.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
