Drug eluting balloon catheters are medical balloon catheters that are coated with medication and are used to widen blocked or narrow arteries during percutaneous coronary intervention. Drug eluting balloons help prevent renarrowing of arteries by slowly releasing drugs like paclitaxel directly into the artery walls. The demand for drug eluting balloons is rising mainly due to the increasing prevalence of cardiovascular diseases globally.
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 key trends:
The increasing prevalence of cardiovascular diseases is one of the key trends driving the growth of the drug eluting balloon market. Cardiovascular diseases are the leading cause of death globally. According to the World Health Organization, cardiovascular diseases cause over 17.9 million deaths worldwide every year. Conditions like coronary artery disease, cardiac arrhythmias, heart failure etc. are increasing at an alarming rate globally due to changing lifestyles, rising stress levels and increasing geriatric population. Drug eluting balloons help treat many cardiovascular conditions effectively and hence their demand is growing significantly with the increasing burden of cardiovascular diseases. The higher efficacy of drug eluting balloons compared to plain old balloons and stents is also fueling their adoption rate globally.
Segment Analysis
The global drug eluting balloon market is dominated by the peripheral drug eluting balloon segment. This segment accounted for the largest revenue share in 2022, owing to the increasing prevalence of peripheral artery diseases such as peripheral vascular diseases. Peripheral drug eluting balloons are used to treat blockages in leg arteries, thus experiencing high demand.
Key Takeaways
The Global Drug Eluting Balloon Market Size is expected to witness high growth during the forecast period of 2023 to 2030. 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.
Regional analysis shows that Asia Pacific region is fastest growing regional market and is expected to dominate the market during the forecast period. Increasing incidence of cardiovascular diseases along with rising healthcare spending in developing countries such as China and India is fueling the growth of drug eluting balloon market in Asia Pacific.
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., and others. The market players are focusing on new product launches and expansion of regional presence to strengthen their market position. For instance, in 2022, Medtronic launched the IN.PACT AV drug-coated balloon for treating blocked arteries in the leg.
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