Drug-Eluting Balloons Market Poised for 7.5% CAGR Growth Driven by Rising Diabetes and Cardiovascular Disease Burden | Market Research Report with Segmentation by Product, Technology, End-User, and Region
Research Reports
Jul 15, 2024
Market Overview
Drug Eluting Balloons Market Research Report Information By Product (Coronary Drug Eluting Balloon, Peripheral Drug Eluting Balloon And Others), By Technology (Paccocath, FreePac, TransPax, EnduraCoat, Others), By End-user (Hospitals and Ambulatory Surgery Centers, Cath Labs And Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.
Drug Eluting Balloons Market Size was valued at USD 0.61 Billion in 2023. The Drug Eluting Balloons Market industry is projected to grow from USD 0.66 Billion in 2024 to USD 1.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2024 – 2032).
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Market Dynamics
The growing incidence of coronary artery disease and diabetes is expected to boost the compound annual growth rate (CAGR) of the drug-eluting balloon market in the coming years. Drug-eluting balloons are specialized angioplasty balloons essential for treating coronary heart disease. The rising rates of coronary artery disease will likely increase the demand for angioplasty and related treatments, driving market growth. Additionally, diabetes can adversely affect blood vessels and nerves in the heart, contributing to cardiovascular disease. This association suggests that the increasing prevalence of diabetes will further drive market expansion for drug-eluting balloons.
The high prevalence of diabetes, which can lead to significant health complications, underscores the need for effective treatment solutions such as drug-eluting balloons. As more people are diagnosed with diabetes and coronary artery disease, the demand for these advanced therapeutic devices is anticipated to rise, consequently fueling the market’s revenue growth.
Segment Analysis
The global Drug Eluting Balloons Market is categorized by product, technology, and end-user.
Product Segmentation: The market is divided into Coronary Drug Eluting Balloons, Peripheral Drug Eluting Balloons, and Others. In 2023, Peripheral Drug Eluting Balloons generated the highest revenue. This growth is driven by the rising global incidence of peripheral artery disease and the introduction of new products targeting peripheral indications by market players.
Technology Segmentation: The market is further divided into Paccocath, FreePac, TransPax, EnduraCoat, and Others. In 2023, TransPax led the market. The TransPax coating offers an optimal combination of hydrophobic and hydrophilic properties, enabling effective delivery of Paclitaxel while reducing systemic loss.
End-User Segmentation: The market is segmented into Hospitals and Ambulatory Surgery Centers, Cath Labs, and Others. In 2023, Hospitals and Ambulatory Surgery Centers held the largest market share due to the high volume of cardiac and peripheral disease treatments conducted in these facilities.
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Regional Analysis
The global Drug Eluting Balloons Market is segmented by region into North America, Europe, Asia-Pacific, and Rest of the World.
North America includes the US and Canada. In 2023, North America led the drug eluting balloon market. Key factors driving market growth in this region include a favorable reimbursement environment in the US, a rising preference for minimally invasive procedures, and an increasing number of surgeries. Additionally, heightened public awareness about the importance of surgical treatments for chronic conditions and injuries is contributing to market expansion.
Europe comprises Germany, France, the UK, Italy, Spain, and other European countries. In 2023, Europe held a significant share of the market and is anticipated to experience substantial growth in the coming years. This growth is driven by the increasing prevalence of peripheral artery disease and the presence of major industry players like MicroPort Medical (Group) Co., Ltd. and B. Braun SE.
Asia-Pacific includes China, India, Japan, Australia, South Korea, and other countries in the region. The Asia-Pacific market is expected to grow at the fastest rate during the forecast period. Contributing factors include rising healthcare spending, a growing prevalence of cardiovascular diseases, increased disposable income, and an aging population in countries like Japan and China. The rise of health tourism in emerging economies is also enhancing regional market growth.
Rest of the World encompasses the Middle East, Africa, and Latin America. The market in these regions is growing due to rising hospitalization rates and an aging population. The presence of key market players in these areas is further boosting the market value and adoption of drug eluting balloon catheters.
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Competitive Dynamics
MRFR recognizes the following companies as the key players in the global Drug Eluting Balloons Market— Bayer AG, Medtronic, B. Braun Melsungen AG, Cook Medical, Inc., Boston Scientific Corporation, Becton, Dickson and Company, EuroCor, Terumo Corporation, Koninklijke Philips N.V.
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