Drug eluting balloons are medical devices used in percutaneous coronary intervention procedures and peripheral arterial disease treatments. These balloons are coated with an antiproliferative drug or other pharmaceutical agents to prevent restenosis. When inflated during an angioplasty procedure, the drug is transferred to the vessel wall. Some commonly used drugs for coating balloons include paclitaxel and sirolimus. Drug eluting balloons are used as an alternative to drug eluting stents to treat coronary artery disease and peripheral artery disease. They are effective in opening blocked arteries and reducing the need for further revascularization procedures.
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:
Technological advancements in designing more efficacious drug delivery coatings is expected to drive the growth of the drug eluting balloon market over the forecast period. For instance, continuous improvements are being made to enhance drug transfer from balloon surfaces to vessel walls and control drug release kinetics for optimal therapeutic effect. This helps maximize efficacy while reducing risks of side effects. Additionally, the increasing incidence of cardiovascular diseases worldwide due to the rising prevalence of risk factors such as obesity, smoking, and poor lifestyle habits is fueling the demand for minimally invasive angioplasty procedures using drug eluting balloons.
Segment Analysis
The global drug eluting balloon market size is segmented based on product type, disease indication, end user and region. Based on product type, the peripheral drug eluting balloon segment dominates the market and accounts for the largest market share. The dominance is owed to the rising cases of peripheral artery disease globally.
PEST Analysis
Political: The rising government support in the form of favourable reimbursement policies for interventional procedures involving drug eluting balloons in developed regions is driving market growth.
Economic: The growing geriatric population suffering from cardiovascular diseases and rising healthcare spending are positively impacting the overall market expansion.
Social: Increasing awareness about minimally invasive procedures and advantages of drug eluting balloons over alternative treatment options is propelling the demand.
Technological: Advancements in balloon material, drug coating techniques and image guided systems are supporting market revenue growth. New product launches with improved drug release kinetics and targeting ability are expanding market reach.
Key Takeaways
The global drug eluting balloon market 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.
North America currently dominates the market and is expected to maintain its leading position over the forecast timeframe. The dominance can be attributed to growing geriatric population, rising prevalence of cardiovascular diseases and favourable reimbursement policies in the region. This can be accredited to well established healthcare infrastructure, rising prevalence of target diseases and availability of advanced treatment options in the region. The US holds the largest market share in the North American market.
Key players related content comprises
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. Cato Manufacturing Ltd is one of the leading players owing to its diverse product portfolio and global footprint.
