Global Drug Eluting Balloon Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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Global Drug Eluting Balloon Market: Overview
“The global Drug Eluting Balloon Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Drug Eluting Balloons (DEB) are conventional semi-compliant angioplasty balloons coated with an anti-proliferative drug which is released into vessel wall during inflation of balloon, usually at nominal pressures with a specific minimal inflation time. Drug eluting balloon plays an important role in modern healthcare, as it delivers medication to vessel and prevents neointimal hyperplasia.
Global Drug Eluting Balloon Market: Dynamics
Increasing incidence of coronary artery diseases among people across the globe is a key factor expected to drive growth of the global market over the forecast period. According to the World Health Organization (WHO), around 17.9 Mn people die, every year due to coronary heart disease across the globe.
In addition, increasing prevalence of diabetes is another factor expected to further fuel growth of the target market over the forecast period. For instance, according to WHO, in October 2018 reported around 1.6 Mn deaths are registered, caused by diabetes across the globe.
Moreover, rising manufacturers preference towards acquisition strategies in order develop an innovative products and expand their product portfolio is another factor expected to boost growth of the target market over the forecast period.
Furthermore, presence of major players operating in the target market, such as Medtronic, Inc. and Boston Scientific Corporation and increasing research & development activities for drug eluting balloon is another factor expected to propel growth of the target market in certain extent.
However, adverse effects such as lumen enlargement and coronary artery lesion are expected to restrain growth of the global market over the forecast period. For instance, in May 2017, Abbott Laboratory recalled three balloon catheters due to problems faced while removing balloon sheath, that caused 19 incidences of injury and 1 death.
Ongoing trend observed in the target market is rising surgeon’s preference towards adoption of drug eluting balloon as it is effective treatment of peripheral artery and coronary artery diseases. this trend is expected to support growth of the global market over the forecast period.
Increasing initiatives by public and private organizations in order to develop new and innovative drug eluting balloon for the treatment of different clinical trials is expected to create potential revenue opportunities for players operating in the target market over the forecast period.
Global Drug Eluting Balloon Market: Segment Analysis
Among the product type segments, the peripheral drug eluting balloon segment is expected to dominate in the target market in terms of revenue over the forecast period, owing to increasing use of drug eluting balloon for treatment of peripheral artery diseases.
Global Drug Eluting Balloon Market: Regional Analysis
The market in North America is expected to dominant in the global drug eluting balloon market in terms of revenue over the forecast period, owing to increasing prevalence of cardiovascular diseases and obesity across various countries in the region over the forecast period. In addition, developing infrastructure in pharmaceutical industry and rising investment activities by manufacturers for the development of novel technologies for cardiovascular disease across various countries in the region.
Global Drug Eluting Balloon Market Segmentation:
Segmentation by product type:
- Coronary Drug Eluting Balloon
- Peripheral Drug Eluting Balloon
- Others (drug eluting balloon used in the renal and urology field)
Segmentation by end user:
- CATH Laboratories
- Ambulatory Surgery Centers
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Medtronic, Inc.
- Becton, Dickinson and Company
- Boston Scientific Corporation
- Cook Medical Incorporated
- Braun Melsungen AG
- Koninklijke Philips N.V.
- Opto Circuits (India) Limited
- Terumo Corporation
- Surmodics, Inc.
- Biotronik, Inc.
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