Fact.MR – A Market Research and Competitive Intelligence Provider: As per latest Fact.MR analysis, the global drug eluting balloon catheter market size is estimated to reach US$ 1 Bn in 2021.
AI Integration in Drug Eluting Balloon Catheters (DEBC) and Other Advancements to Drive DEBC Sales by 18% CAGR
Fact.MR’s latest study uncovers trends accelerating the growth in the drug eluting balloon catheters market. It provides exclusive information on opportunities present across leading segments in terms of indication, end user, and raw material. The report also profiles leading drug eluting balloon catheter manufacturers and examines the effect of their growth strategies on the global market.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per latest Fact.MR analysis, the global drug eluting balloon catheter (DEBC) market size is estimated to reach US$ 1 Bn in 2021. With rapidly rising demand for medical devices such as balloon catheters, the overall market is poised to expand at a CAGR of 18% between 2021 and 2031, reaching US$ 5.2 Bn by 2031.
Drug eluting balloon catheters have emerged as ideal devices for the treatment of various cardiovascular diseases. They are being increasingly used for a wide range of minimally invasive diagnostic and therapeutic procedures such as dilating vessel and opening blockages.
Robust expansion of drug eluting balloon catheter (DEBC) market is attributable to the rising prevalence of cardiovascular diseases, increasing geriatric population, growing preference for minimally invasive procedures, and increasing investments by government for developing healthcare infrastructure.
Incidence of cardiovascular diseases is rising at an alarming rate due to factors such as changing lifestyle, surging obesity prevalence, unhealthy diet, and excessive consumption of alcohol. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of deaths globally.
An estimated 17.9 million people died from CVDs in 2019. This is expected to increase the adoption of medical devices such as DEBCs.
As per the report, the polyurethane drug eluting balloon catheters segment dominates the DEBC market. Polyurethane offers a plethora of advantages such as high tensile strength, hemocompatibility, and biocompatibility.
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Hence, polyurethane is considered as the most preferred material for manufacturing of DEBC products. However, demand for nylon drug eluting balloon catheters are expected to witness stronger growth due to their advantages such as soft nature, foldability, and easy withdrawal.
As per Fact.MR, demand for coronary artery disease (CAD) drug eluting balloon catheters is projected to account for around 80% market share throughout the forecast period. This is attributed to the high prevalence of coronary artery diseases across the world.
Regionally, Europe will continue to dominate the DEBC market as a result of rapidly growing geriatric population, increasing government support, high prevalence of cardiovascular diseases, and presence of some leading players.
“Introduction of new technologies such as advanced navigation systems are supporting the growth of the market. These technologies are intended to help medical professionals easily monitor and treat cardiovascular diseases with ease. Besides this, key manufacturers are focusing on developing novel products with cost effective features. This is expected to create ample growth opportunities for the market” says a Fact.MR analyst
Key Takeaways from Drug Eluting Balloon Catheter Market Survey
- The U.K. will continue to dominate the Europe market, exhibiting growth at a CAGR of around 20% throughout the forecast period.
- China is projected to register strong growth on account of rising medical tourism, improving healthcare infrastructure, and rising cases of cardiovascular diseases.
- The U.S. is expected to lead the North America drug eluting balloon catheters market owing to the rising incidence of cardiovascular diseases, changing lifestyle, and presence of leading medical device companies.
- By indication, coronary artery disease drug eluting balloon catheters segment will account for 4/5th of total market share.
- In terms of raw material, polyurethane drug eluting balloon catheters segment is projected to witness fastest growth through 2031.
Key Drivers
- Increasing prevalence of life-threatening cardiovascular diseases such as coronary artery disease and peripheral vascular disease worldwide is boosting the market.
- Growing preference for minimally invasive procedures will continue to boost the sales of drug eluting balloon catheters.
- Technological advancements such as integration of artificial intelligence in drug eluting balloon catheters will help the manufacturers to increase their sales.
Key Restraints
- Risk of infection associated with the use of drug eluting balloon catheters is restraining the growth of the market.
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Competitive Landscape
Leading manufacturers of drug eluting balloon catheters are focusing on expanding their product portfolio. They are adopting various strategies such as new product launches, mergers, collaborations and partnerships to stay relevant in the global market.
- In July 2021, Medtronic plc, the global leader in medical technology, launched the Prevail™ drug coated balloon (DCB) Catheter in Europe following CE (Conformité Européene) mark. The newest coronary DCB product is used during percutaneous coronary intervention (PCI) procedures to treat narrowed or blocked coronary arteries in patients with coronary artery disease (CAD).
- In November 2020, Boston Scientific announced the U.S. Food and Drug Administration (FDA) approval of the Ranger™ Drug-Coated Balloon, developed for the treatment of patients with peripheral artery disease (PAD) in the superficial femoral artery (SFA) and proximal popliteal artery (PPA).
Some of the prominent players operating in the drug eluting balloon catheter market profiled by Fact.MR are:
- Cardionovum GmbH
- Cook Medical INC
- Cordis Corporation
- Abbott Laboratories
- Meril Life Sciences Pvt Ltd
- Jotech GmbH
- MicroPort Scientific Corporation
- Terumo Corporation
- Boston Scientific Corporation
More Insights on the Global Drug Eluting Balloon Catheter Sales Outlook
Fact.MR provides an unbiased analysis of drug eluting balloon catheter market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for drug eluting balloon catheter with a detailed segmentation on the basis of:
Indication:
- Coronary Artery Disease Drug Eluting Balloon Catheters
- Peripheral Vascular Disease Drug Eluting Balloon Catheters
End User:
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
Raw Material:
- Polyurethane Drug Eluting Balloon Catheters
- Nylon Drug Eluting Balloon Catheters
- Others
Key Questions Covered in the Drug Eluting Balloon Catheter Market Outlook Report
- The report offers insight into drug eluting balloon catheter demand outlook for 2021-2031
- The market study also highlights projected sales growth for drug eluting balloon catheter market between 2021 and 2031
- Drug eluting balloon catheter market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Drug eluting balloon catheter market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
Explore Fact.MR’s Coverage on the Healthcare Domain –
Cutting Balloon Catheter Market- The rising prevalence of cardiac illnesses and the ageing population, as well as the multiple benefits of cutting balloon catheters, are driving global sales of cutting balloon catheters. Furthermore, the market is predicted to expand as the prevalence of peripheral vascular disorders increases, as well as significant advancements in catheterization technology, pushing demand for angioplasty balloons. Rising public awareness of cardiovascular illnesses as a result of government and non-government activities is expected to increase demand for cutting balloon catheter devices.
Normal Balloon Catheter Market- The number of cardiovascular disorders is on the rise, as are the number of cardiology intervention procedures performed around the world. Several governments provide reimbursement assistance to patients with vascular illnesses. There has also been an increase in healthcare costs. These characteristics may encourage the use of standard balloon catheters. Other factors, such as the growing senior population and increased investments in normal balloon catheter research and development, are likely to provide prospective growth possibilities for makers of normal balloon catheters.
Surgical Catheters Market- The global surgical catheters market is growing because of ageing population and rising occurrences of diabetes, renal failure, and cardiovascular illnesses. Patients’ preferences have evolved significantly from traditional approaches to minimally invasive surgeries as a result of medical developments. Furthermore, the need for surgical catheters has increased as a result of an increase in the number of minimally invasive procedures performed for diagnostic, monitoring, and operational purposes. Increased research and development activities, as well as significant expenditures in the healthcare business, are creating new opportunities.
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