Drug-Eluting Balloon Market Reach US$ 1,870.60 million by 2027 Says, The Insight Partners

December 09 20:02 2021
Drug-Eluting Balloon Market Reach US$ 1,870.60 million by 2027 Says, The Insight Partners
The Insight Partners
The Drug-Eluting Balloon in healthcare market was valued at US$ 516.65 million in 2018 and it is projected to reach US$ 1,870.60 million by 2027; it is expected to grow at a CAGR of 15.6% from 2019 to 2027.

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 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.

Drug-eluting balloons are defined as the semi-compliant conventional angioplasty balloons that are covered with anti-proliferative drugs that are released in the walls of blood vessels during balloon inflation, majorly at nominal pressures. These balloons help to attenuate cellularity significantly and eliminates the need for repetitive vascularization. The growth of the Drug-Eluting Balloon in healthcare market is attributed to the rising 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.

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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.

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.

As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic.

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Growing Applications of Drug-Eluting Balloon in Healthcare to Drive Drug-Eluting Balloon in Healthcare Market Growth

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.

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 incidences 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.

In 2017, Europe had the world’s largest percentage of population with age 60 or above (25%). This trend of aging is approaching the other parts of the world as well; all regions of the world, except Africa, would have nearly a quarter or more of their populations with age 60 and above. The number of elderly people in the world is anticipated to reach US$ 1.4 billion by 2030 and US$ 2.1 billion by 2050, while it would further rise to more than US$ 3.1 billion by 2100.

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