The drug eluting balloon market allows localized drug delivery at the site of blockages or narrowing in blood vessels. This minimally invasive procedure helps prevent re-narrowing of arteries post angioplasty by releasing medication from the inflatable balloon. Drug eluting balloons are used in procedures like percutaneous coronary intervention and peripheral artery diseases. With the rising prevalence of atherosclerosis, coronary artery disease and peripheral artery disease globally, the demand for procedures using drug eluting balloons is increasing.
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. These companies are focusing on new product launches andenhancements to gain a larger market share.
Key opportunities in the market includeemerging economies with large patient pools and increasing healthcare expenditure. Asia Pacific region is anticipated to witness highest growth due to growing medical tourism and rising insurance coverage in countries like India and China.
On the global front, companies are expanding their geographic presence through strategic collaborations and partnerships. For instance, Medtronic plc collaborates with local distributors to market its drug coated balloons across major markets. Boston Scientific also has a strong international presence across EMEA region and Japan.
Market drivers: The primary driver for this market is the increasing incidence of cardiovascular diseases worldwide. Some key statistics indicating rising disease burden are cardiovascular diseases causing over 18 million deaths annually according to WHO and over 1 in 3 deaths attributable to CVDs in US according to AHA.
Market restraints: High costs of drug coated devices, lack of reimbursements and stringent regulatory approvals are some challenges restraining market growth.Device manufacturing is a highly regulated industry and get-ting regulatory clearances involves lengthy and expensive clinical trials. This acts as deterrent for new market entrants.
Segment Analysis
The drug eluting balloon market can be segmented into peripheral and coronary drug eluting balloon. The peripheral drug eluting balloon segment dominates the market and accounts for the major share. This is because peripheral diseases are more common than coronary diseases. Within the peripheral segment, below the knee arteries sub-segment has highest market share since it is more difficult to treat diseases in the below knee region.
Global Analysis
The drug eluting balloon market in North America is the fastest growing region due to rising incidences of cardiovascular diseases and increasing adoption of minimally invasive surgeries. However, Asia Pacific dominates the global market and is expected to grow at highest CAGR during the forecast period. This is because of rising health awareness, increasing healthcare expenditure, and growth of medical tourism in the countries of Asia Pacific such as China, India, and Japan.
Explore Our More Blogs on Drug Eluting Balloon Market
