Rising Cardiovascular Diseases To Augment The Drug Eluting Balloon Market Growth

 Drug Eluting Balloon Market

The Drug Eluting Balloon Market by Product (Coronary Drug-eluting Balloon, Peripheral Drug-eluting Balloon, and Other Products (Renal/urology)), Technology (FreePac, TransPac, EnduraCoat, and Other Technologies), End Users (Hospitals, Ambulatory Surgical Centers, and Other End Users) and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

The Global Drug Eluting Balloon Market is estimated to be valued at US$ 616.6 Million in 2022 and is expected to exhibit a CAGR of 8.3 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

A drug-eluting balloon is a non-stent technique in which the actual homogenous transfusion of anti-proliferative medication is administered by the pitcher wall from an inflated balloon. It is made to cure atherosclerosis in arteries. Drug-eluting balloon is an angioplasty process utilizing semi-compliant balloons covered with a cytotoxic chemotherapeutic medication.

Competitive Landscape:

Key players involved in the growth of global Drug Eluting Balloon Market are Dickson and Company, Koninklijke Philips NV, Medtronic PLC, Boston Scientific Corporation, Becton and Terumo Corporation.

Market Key Drivers:

The rising prevalence of coronary and peripheral artery disease is expected to augment the growth of global Drug Eluting Balloon Market. For instance, as per the AHA 2021 report, peripheral artery disease affects above 200 million people across the globe and is related to high transience and illness. 

The rising geriatric population and the increasing investment in healthcare has projected to propel the growth of the global Drug Eluting Balloon Market. For instance, as per study by Elsevier, for older people above 45 years, the overall self-reported cases of diagnosed cardiovascular diseases was 29.4%.

Covid-19 Impact Analysis:

The Covid-19 outbreak had adversely affected the growth of the global Drug Eluting Balloon Market due to the lockdown restrictions. The surge in pandemic had led to the delay in surgeries and hospital visits. Lack of physicians, beds and healthcare staff along with the halt in appointments and closure of clinics has impeded the market growth.

Key Takeaways:

The global Drug Eluting Balloon Market is anticipated to exhibit a CAGR of 8.3 % during the forecast period rising bypass surgeries. For instance, as per NIH, around 400,000 people undergo bypass surgery across the globe.

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in the global Drug Eluting Balloon Market due to mergers and acquisitions, product expansions and rising PAD and CAD, atrial fibrillation and cardiovascular diseases. For instance, as per CDC around 20.1 million adults above 20 years suffer from CAD in U.S.