According to The Insight Partners market research study titled ‘Drug-Eluting Balloon Market to 2027 – Global Analysis and Forecasts by Product Type, End User and Geography. The global drug-eluting balloon market is expected to reach US$ 1,870.60 Mn in 2027 from US$ 516.65Mn in 2018. The market is estimated to grow with a CAGR of 15.6% from 2019-2027. The report highlights trend prevalent in the global drug-eluting balloon market and the factors driving the market along with those that act as challenges to its growth.
Download Sample PDF Drug-Eluting Balloon Report Copy at: https://www.theinsightpartners.com/sample/TIPRE00003085/
The global drug-eluting balloon market is segmented on the basis of product type and end-user. The market based on product type segment is classified as coronary drug-eluting balloons, peripheral drug-eluting balloons, and other product types. Based on the end-user the market is segmented as hospitals, Cath labs & cardiac centers, and ambulatory surgical centers.
The key factors accounting for the growth of the drug-eluting balloon market include a significant increase in vascular disease incidences, growing product innovations, and rising geriatric population. Whereas, the market is expected to have slow growth due to the high cost of procedures and products and stringent regulations for approval during the forecast period.
Major players operating in the drug-eluting balloon market include Medtronic plc, Becton, Dickinson and Company, Boston Scientific Corporation, Cook Medical, B. Braun Melsungen AG, Koninklijke Philips N.V., Opto Circuits Limited, Terumo Corporation, Biotronik SE & Co. KG, Innvolution Healthcare Pvt. Ltd. The market has carried out various organic and inorganic growth strategies in the market. The organic strategies were conducted majorly and the strategies have assisted in strengthening their product offering and position in the global drug-eluting balloon market.
Significantly Rising Vascular Disease Incidences
Drug-eluting balloons are an emerging technology that has enabled to treat various chronic conditions, such as cardiovascular conditions and peripheral vascular diseases. Innovations in medical interventions, through advanced products and technologies, have eased the treatment of blood vessel blockages. The rising incidences of cardiovascular, peripheral vascular, and neurovascular diseases, among others, is a major factor driving the drug-eluting balloons market. For instance, cardiovascular diseases are growing drastically across the world. The various factors such as obesity, less physical activities, increased stress, and a shift in the lifestyle has resulted in the growing incidence of cardiovascular diseases.
Factors such as growing obesity incidence, diminished physical activities, increased stress, and shifting lifestyle have resulted in the rise in incidences of cardiovascular diseases. According to a report by the American College of Cardiology February 2019, cardiovascular diseases are the primary cause of death in the US. In 2016, the US registered 635,260 deaths caused by cardiovascular conditions. In addition, the report also mentions the decrease of 31.8% in deaths caused by coronary heart diseases from 2006 to 2016. Thus, the use of drug-eluting balloons has helped to treat people with cardiovascular conditions. Similarly, according to the statistics published by the WHO in May 2017, cardiovascular conditions are the cause of numerous deaths in the world, and there is a significant rise in the incidence of vascular diseases worldwide. As per the Centers for Disease Control and Prevention, every year, ~1–2 persons per 1,000 people are affected by deep vein thrombosis (DVT) in the US. Such escalating incidences of vascular diseases are likely to further increase the demand for drug-eluting balloons in the coming years.
Rising Use of Drug-eluting Balloons Over Drug-Eluting Stents
Drug-eluting balloons show various advantages over the drug-eluting stents. The balloons are developed with long-awaited new transcatheter technologies that have shown promising factors to reduce high restenosis rates in peripheral artery diseases.
Therefore, the drug-eluting balloons are enabled with various developments that are not available with the drug-eluting stents. For instance, drug delivery through the balloon does not require polymer or stent to deliver drugs, and can reduce the vascular inflammatory response. The responses are further directly related to very late thrombosis events, whereas drug-eluting stents require polymer-based drug coatings.
The other advantages of the DEB include faster delivery of drug kinetics to the vessel, and the intima is within 30–60 seconds of balloon inflation. Whereas, the drug delivery through DES is slow and have controlled the release of drug kinetics to block cell proliferation. Thus, the advantages of DEB over the DES are expected to increase the adoption of drug-eluting balloons in the coming years.
The report segments the global drug-eluting balloon market as follows:
Global Drug-Eluting Balloon Market – By Product Type
Global Drug-Eluting Balloon Market – By End User
Global Drug-Eluting Balloon Market – By Geography
Buy Complete Drug-Eluting Balloon Report at: https://www.theinsightpartners.com/buy/TIPRE00003085/