June 22, 2024
Drug Eluting Balloon Market

Drug Eluting Balloon Market is Expected to be Flourished by Growing Adoption of Minimally Invasive Procedures

Drug-eluting balloons (DEBs) are advanced angioplasty balloons coated with an anti-proliferative drug, which is released at the site of angioplasty to prevent re-narrowing of the artery. DEBs are increasingly being used in the treatment of arterial diseases such as coronary artery disease and peripheral artery disease. They offer advantages over bare-metal and drug-eluting stents in treating lesions in small coronary vessels and arteries below the knees. The growing preference for minimally invasive procedures and lower incidence of re-stenosis as compared to uncoated angioplasty balloons are driving the adoption of DEBs.

The global drug eluting balloon market is estimated to be valued at US$ 667.78 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The increasing adoption of minimally invasive procedures is a major driver fueling the growth of the drug eluting balloon market. DEBs offer advantages over traditional angioplasty and stent placement such as lower rates of target lesion revascularization and reduced vessel injury. Therefore, they are increasingly being used for treating coronary artery diseases as well as peripheral artery diseases. Moreover, growing geriatric population who are more prone to cardiovascular diseases also contribute to the market growth. According to the United Nations, the population aged 60 years or over is estimated to be more than 2 billion by 2050. However, factors such as availability of alternative treatment methods including drug-eluting stents and concerns regarding immediate rebound effects after DEB angioplasty can hamper the market growth.

Segment Analysis

The global drug eluting balloon market is dominated by the coronary artery disease segment. Around 60-65% of the overall market share is captured by coronary artery disease segment. The high dominance is attributed to the increasing prevalence of cardiovascular diseases globally. Moreover, drug eluting balloon is highly preferred for treatment of coronary artery diseases as it effectively widens the blocked artery and reduces the chances of reoccurrence of blockage through localized drug delivery.

PEST Analysis

Political: The development of healthcare infrastructure and increasing healthcare spending by various governments globally is supporting market growth. However, stringent regulations for approval of new drug eluting balloons may hamper innovations.

Economic: Rising income levels and growing healthcare expenditure is driving patientadoption of advanced treatment options like drug eluting balloons. Additionally, increased health insurance penetration is positively impacting the market.

Social: Growing geriatric population base susceptible to cardiovascular diseases is a key growth driver. Also, rising health awareness and changing lifestyle habits are contributing to market growth.

Technological: Continuous innovations in drug coating and balloon materialare leading to development of advanced drug eluting balloons with improved efficacy. Utilization of AI and big data analytics is also helping optimize localized drug delivery.

Key Takeaways

The Global Drug Eluting Balloon Market Demand is expected to witness high growth over the forecast period driven by factors like increasing prevalence of cardiovascular diseases, rising geriatric population, growing healthcare spending etc. The global Drug Eluting Balloon Market is estimated to be valued at US$ 667.78 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.

Regionally, North America captured the largest market share in 2023 owing to presence of advanced healthcare facilities and reimbursement framework in countries like US and Canada. The Asia Pacific region is projected to be the fastest growing market during the forecast period. This is accredited to increasing healthcare infrastructure development, growing medical tourism industry and rising focus of key market players in emerging countries like India, China and others.

Key players operating in the drug eluting balloon market are Cato Manufacturing Ltd, Culver Props, Inc., Delta Electronics, Inc., Dowty Circuits Limited, Hartzell Propeller, Inc., McCauley Propeller Systems, Inc., Sensenich Propeller Service, Inc., and others.

Key players operating in the drug eluting balloon market are focusing on expanding their product portfolios through continuous innovations. Strategic collaborations and partnerships are helping them strengthen distribution channels and market presence. Regulatory approvals of new drug eluting balloons and technology advancements are also playing a major role in business expansion.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it