Market Size of Drug Eluting Balloon Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 18.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Drug Eluting Balloon Market Analysis
The drug-eluting balloon market is expected to register an approximate CAGR of 18% during the forecast period.
COVID-19 had a significant impact on the growth of the market. The COVID-19 pandemic has negatively affected surgical procedures due to the high rate of infection and lockdown restrictions. A delay in diagnosis and treatments was also observed in patients with cardiovascular diseases as a result of a reduction of footfall in hospitals and diagnostic centers, which impacted the market studied as well. Such delay in diagnosis and treatment led to a slight decrease in the demand for drug-eluting balloons, thereby affecting the growth of the market. For instance, according to a research study published in NCBI in March 2022, there was a 52.7% reduction in the volume of adult cardiac surgeries and a 65.5% reduction in elective cases, which indicated the negative impact of COVID-19 on cardiac surgical procedures. However, another NCBI research study published in April 2021 stated that COVID-19 could increase the development of atherosclerosis due to ACE2, which is also a receptor for the SARS-CoV-2 virus. Thus, the long-term effect of COVID-19 on the human body may increase the prevalence of atherosclerosis and other cardiac diseases, which is expected to increase the demand for drug-eluting balloons, thereby by contributing to the growth of the market.
The increasing incidence of coronary and peripheral artery diseases around the world is expected to boost the market's growth. In addition, increasing research and development supported by government and private institutions and continuous initiatives about awareness regarding heart diseases are fuelling the market growth.
According to the Australian Institute of Health and Welfare, in May 2022, out of 11.8 million admissions, 7.0% of hospitalizations involved a stay in the intensive care unit, and 3.8% of hospitalizations involved cardiovascular diseases. According to the American Heart Association 2021 report, peripheral artery disease (PAD) affects more than 200 million people worldwide and is associated with high mortality and morbidity. Moreover, the increasing geriatric population, which is prone to cardiovascular diseases, and growing healthcare spending are projected to bolster market growth. For instance, according to the research study published in December 2021, by Elsevier, for older people aged 45 and above, the overall self-reported prevalence of diagnosed cardiovascular diseases (CVDs) was 29.4%. The prevalence rate increased with age, from 22% in the 45-54 age group to 38% in the 70+ age group, showing that the senior population is at high risk of having CVDs. Such prevalence of various cardiovascular conditions is expected to drive the demand for drug-eluting balloons as they are used to treat various cardiovascular conditions, thereby helping in the recovery of affected patients.
However, the high cost of development and commercialization of drug-eluting balloons, coupled with stringent regulatory procedures, are hampering the market growth.
Drug Eluting Balloon Industry Segmentation
Drug-eluting balloons are semi-compliant angioplasty balloons that are used to elute the drug in the targeted vessel. Drug-eluting balloons may be coated or non-coated.
The drug-eluting balloon market is segmented 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 geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also provides the estimated market sizes and trends for 17 different countries. The report offers the value (in USD million) for the above segments.
By Product | |
Coronary Drug-eluting Balloon | |
Peripheral Drug-eluting Balloon | |
Other Products (Renal/Urology) |
By Technology | |
FreePac | |
TransPac | |
EnduraCoat | |
Other Technologies |
By End User | ||
Hospitals | ||
Ambulatory Surgical Centers | ||
|
Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Drug Eluting Balloon Market Size Summary
The drug-eluting balloon market is poised for significant growth, driven by the increasing prevalence of coronary and peripheral artery diseases globally. The market's expansion is supported by heightened research and development efforts from both government and private sectors, alongside initiatives to raise awareness about heart diseases. The aging population, particularly those over 45, is contributing to the rising incidence of cardiovascular conditions, which in turn is expected to bolster the demand for drug-eluting balloons. These medical devices are crucial in treating various cardiovascular ailments, aiding in patient recovery. However, the market faces challenges due to the high costs associated with the development and commercialization of these balloons, as well as stringent regulatory requirements.
The peripheral drug-eluting balloon segment is anticipated to capture a significant market share, fueled by the growing prevalence of peripheral artery diseases and the increasing geriatric population. The segment's growth is further supported by ongoing research and development aimed at expanding indications and introducing new products. The burden of cardiovascular diseases, such as coronary artery disease and strokes, underscores the need for effective treatment solutions like drug-eluting balloons. The market is moderately consolidated, with key players like Medtronic PLC, Boston Scientific Corporation, and Terumo Corporation focusing on innovative technologies and product expansions to enhance their market presence. Recent regulatory approvals for advanced drug-coated balloons highlight the industry's commitment to addressing the high demand for cardiovascular disease treatments.
Drug Eluting Balloon Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Growing Prevalence of Peripheral and Coronary Artery Diseases
-
1.2.2 Rising Geriatric Population Leading to Cardiovascular Diseases
-
-
1.3 Market Restraints
-
1.3.1 High Cost of Development and Commercialization of Drug-eluting Balloons
-
1.3.2 Adverse Effects and Product Recalls
-
-
1.4 Porter's Five Force Analysis
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION (Market Size by Value - USD million)
-
2.1 By Product
-
2.1.1 Coronary Drug-eluting Balloon
-
2.1.2 Peripheral Drug-eluting Balloon
-
2.1.3 Other Products (Renal/Urology)
-
-
2.2 By Technology
-
2.2.1 FreePac
-
2.2.2 TransPac
-
2.2.3 EnduraCoat
-
2.2.4 Other Technologies
-
-
2.3 By End User
-
2.3.1 Hospitals
-
2.3.2 Ambulatory Surgical Centers
-
2.3.3 Other End Users
-
2.3.3.1
-
-
-
2.4 Geography
-
2.4.1 North America
-
2.4.1.1 United States
-
2.4.1.2 Canada
-
2.4.1.3 Mexico
-
-
2.4.2 Europe
-
2.4.2.1 Germany
-
2.4.2.2 United Kingdom
-
2.4.2.3 France
-
2.4.2.4 Italy
-
2.4.2.5 Spain
-
2.4.2.6 Rest of Europe
-
-
2.4.3 Asia-Pacific
-
2.4.3.1 China
-
2.4.3.2 Japan
-
2.4.3.3 India
-
2.4.3.4 Australia
-
2.4.3.5 South Korea
-
2.4.3.6 Rest of Asia-Pacific
-
-
2.4.4 Middle East and Africa
-
2.4.4.1 GCC
-
2.4.4.2 South Africa
-
2.4.4.3 Rest of Middle East and Africa
-
-
2.4.5 South America
-
2.4.5.1 Brazil
-
2.4.5.2 Argentina
-
2.4.5.3 Rest of South America
-
-
-
Drug Eluting Balloon Market Size FAQs
What is the current Drug Eluting Balloon Market size?
The Drug Eluting Balloon Market is projected to register a CAGR of 18% during the forecast period (2024-2029)
Who are the key players in Drug Eluting Balloon Market?
Boston Scientific Corporation, Becton, Dickson and Company, Terumo Corporation, Medtronic PLC and Koninklijke Philips NV are the major companies operating in the Drug Eluting Balloon Market.