by Drug eluting balloons are medical devices used in percutaneous coronary intervention (PCI) and angioplasty procedures for the treatment of coronary artery disease. Drug eluting balloons are coated with an anti-proliferative drug, which is released locally into the artery during balloon inflation. This helps prevent restenosis and reocclusion of the artery. Some commonly used drug eluting balloons include SeQuent Please Neo, IN.PACT Admiral, and Stellarex Drug Coated Balloon. The effectiveness of drug eluting balloons in reducing in-stent restenosis makes them an attractive alternative to drug eluting stents.
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 8.6% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing prevalence of cardiovascular diseases such as coronary artery disease is a major driver boosting the growth of the drug eluting balloon market. According to the World Health Organization, cardiovascular diseases account for over 17 million deaths annually, with coronary heart disease being the leading cause of deaths related to cardiovascular diseases. Moreover, the effectiveness of drug eluting balloons in reducing the need for target lesion revascularization as compared to conventional angioplasty further drives their adoption. However, the availability of alternative treatment options such as drug eluting stents and coronary artery bypass grafting may hinder the growth of the market to a certain extent over the forecast period.
Segment Analysis
The global drug eluting balloon market is segmented into peripheral, coronary, and other segments. The peripheral segment dominates the market and accounts for over 60% share owing to the increasing incidence of peripheral artery disease. This segment is expected to witness high growth during the forecast period due to rising adoption of minimally invasive procedures.
PEST Analysis
Political: The government regulations regarding medical device approval process influence the market growth. Various countries have implemented stringent policies for approving new medical devices.
Economic: Rising healthcare spending across major economies and growing geriatric population susceptible to cardiovascular diseases act as major economic growth drivers for this market.
Social: Increasing awareness about interventional procedures and availability of reimbursement for such procedures positively impact the social factors.
Technological: Advanced drug eluting balloon technologies help in improving patient outcomes. Key players are focusing on developing innovative drug delivery systems and coating techniques to gain competitive edge.
Key Takeaways
The Global Drug Eluting Balloon Market Demand is expected to witness high growth at a CAGR of 8.6% during the forecast period of 2023 to 2030 to reach a market size of USD 667.78 Mn by 2024 owing to rising prevalence of coronary and peripheral artery diseases.
Regional analysis:
North America dominates the market currently due to presence of major players and technological advancements in the region. Asia Pacific is expected to emerge as the fastest growing market during the forecast period driven by growing healthcare infrastructure, rising medical tourism, and increasing disposable incomes in countries like China and India.
Key players:
Key players operating in the drug eluting balloon market 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. Oracle Corporation and SAGE GROUP plc hold majority market share due to their diversified product portfolio and strong distribution channels across regions.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
