Market Trends of Drug Eluting Balloon Industry
This section covers the major market trends shaping the Drug Eluting Balloon Market according to our research experts:
Peripheral Drug-eluting Balloons are Expected to Grow at a Healthy Rate Over the Forecast Period
Drug-eluting balloons play an important role in the treatment of peripheral artery diseases. The growing prevalence of peripheral artery diseases, coupled with the increasing geriatric population, is expected to boost segment growth.
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. With the aging global population, PAD may likely become increasingly common. Statistics show that PADs are increasing at a faster pace, which is ultimately driving the segment for peripheral drug-eluting balloons. Another scientific study published by the American Heart Association in August 2021 stated that lower extremity PAD affects more than 230 million people worldwide and is linked to an elevated risk of several unfavorable clinical outcomes (including cardiovascular diseases like coronary heart disease and stroke and limb outcomes, like amputee status). The increased incidence of PAD is expected to boost the use of peripheral drug-eluting balloons over the forecast period.
The segment for peripheral drug-eluting balloons is expected to have a significant share owing to the increased usage of drug-eluting balloons in the treatment of peripheral artery diseases and growing R&D in expanding the indications, and new product launches in the peripheral artery segment.
The anticipated product launches, coupled with the development of innovative coating and balloon technologies, are expected to boost the segment's growth over the forecast period.
North America is Expected to Have Significant Market Share Over the Forecast Period
The major factors attributing to the growth are a sedentary lifestyle lacking physical activity, lack of proper diet, anxiety, and stress resulting in chronic diseases, such as diabetes and obesity, leading to an increase in the prevalence of multiple cardiovascular diseases like coronary artery disease, strokes, and atrial fibrillation.
The data updated by Cedars-Sinai in January 2022 showed that coronary artery bypass graft surgery (CABG), also known as coronary artery bypass, or bypass surgery, is the most common type of heart surgery. More than 300,000 people have successful bypass surgeries in the United States each year. Such a burden of various cardiovascular disease-related surgical procedures is expected to drive the demand for drug-eluting balloons and provide lucrative opportunities for the growth of the market in this region.
In addition, the Centers for Disease Control and Prevention (CDC) data updated in July 2022 showed that coronary heart disease is the most common type of heart disease, and approximately 20.1 million adults of age 20 and older had the disease in the United States. Per the CDC data, every 40 seconds, someone suffers from a heart attack, and nearly 805,000 people in the United States have a heart attack every year. Thus, the high burden of cardiovascular diseases demands the availability of drug-eluting balloons.
The presence of a large pool of people with heart diseases and growing healthcare spending, especially in emerging countries of North America, are expected to boost the market growth.
