Pune, India, Dec. 12, 2022 (GLOBE NEWSWIRE) -- The global drug-eluting balloon catheters market size was valued at USD 529.4 million in 2021. The market is projected to grow from USD 615.2 million in 2022 to USD 1,119.4 million by 2029, exhibiting a CAGR of 8.9% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Drug-eluting Balloon Catheters Market, 2022-2029.”
Key Industry Development
August 2022: To investigate the safety and effectiveness of peripheral sirolimus drug-coated balloons, BD recently announced the beginning of the first-in-human prevision trial. The studies' objective was to evaluate sirolimus' potential as a future therapy option for people with Peripheral Vascular Disease (PAD).
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Report Coverage
The report presents a holistic study of the global market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving factors is also mentioned in the report. Step by step, thorough regional analysis is offered. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better. The top players in the market are identified, and their strategies to bolster the market growth are shared in the report.
COVID-19 Impact
COVID-19 Adversely Obstructed Market due to Decreased Demand for these Devices
During the pandemic, the market shrank as a result of COVID-19's effects. The lockdown limitations and fewer people seeking cardiovascular disease diagnosis and treatment were to blame for this. According to revenue, the global drug-eluting balloon catheters market growth decreased by -13.7% in 2020 compared to the previous year. This resulted from a decrease in the quantity of surgical treatments for peripheral and coronary intervention.
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Driving Factors
Greater Efficiency Related with Drug-eluting Balloon Catheters Over Drug-eluting Stents to Surge Demand for these Catheters
Through minimally invasive surgery, drug-eluting balloon catheters release an anti-proliferative medication directly into the vascular wall without the use of stents. The use of these devices is a strategy that shows promise for the treatment of coronary artery disease.
Numerous studies have demonstrated the benefits of using these catheters for angioplasty in the treatment of conditions such in-stent restenosis, high bleeding risk, and small-vessel disease.
Segments
Launch of Paclitaxel-coated Balloon Catheter Products in the Market to Fuel the Segment’s Growth
Based on drug, the market is segregated into paclitaxel, sirolimus, and others. The paclitaxel segment generated the highest revenue in 2021 and is expected to grow at a moderate CAGR during the forecast period.
Strong Presence of the Drug-coated Balloon Catheters for Peripheral Indication to Boost the Segment’s Growth
Based on indication, the market is classified into coronary intervention and peripheral intervention. The peripheral segment generated the highest revenue in 2021 and is expected to grow at a substantial CAGR during the forecast period.
Increased Preference of Patients to Visit Hospitals for Angioplasty Procedures to Fuel Segment’s Growth
Based on end-user, the market is categorized into hospitals & Ambulatory Surgical Centers (ASCs) and specialty clinics and catheterization laboratories.
The hospitals & ASCs segment accounted for a significant share of the market in 2021.
Geographically, the market is segregated into North America, Europe, Asia Pacific, and the Rest of the World.
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Regional Insights
North America to Lead Backed by New Launches by Key Players
The North America market generated a revenue of USD 256.9 million in 2021. Heart disease is becoming more common in the region, and market participants are putting more of a priority on new product launches there, which is why the market is dominant.
Having held a sizeable portion of the market in 2021, the Europe drug-eluting balloon catheters market share is anticipated to expand significantly in the next few years.
In the study period, the CAGR for the market in the Asia Pacific region is anticipated to be the fastest. A growing patient population's demand for minimally invasive procedures and the rising incidence of peripheral artery disease in the area are factors attributed to the region's high rate of market growth.
Competitive Landscape
Innovative Product Launch Announcement by Key Players to Bolster Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
List of Key Players Covered in the Report
- Medtronic (Ireland)
- Koninklijke Philips N.V. (Netherlands)
- Boston Scientific Corporation (U.S.)
- BD (U.S.)
- B. Braun SE (Germany)
- Meril Life Sciences Pvt. Ltd. (India)
- BIOTRONIK (Germany)
- Cordis (U.S.)
- MicroPort Medical (Group) Co., Ltd. (China)
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Detailed TOC:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of Peripheral Artery Disease (PAD), in 2021 – By Region
- Pipeline Analysis
- New Product Launches
- Key Industry Developments
- Impact of COVID-19 on the Market
- Global Drug-eluting Balloon Catheters Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Drug
- Paclitaxel
- Sirolimus
- Others
- Market Analysis, Insights and Forecast – By Indication
- Coronary intervention
- Peripheral intervention
- Market Analysis, Insights and Forecast – By End-user
- Hospitals & ASCs
- Specialty Clinics and Catheterization Laboratories
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- Market Analysis, Insights and Forecast – By Drug
- North America Drug-eluting Balloon Catheters Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Drug
- Paclitaxel
- Sirolimus
- Others
- Market Analysis, Insights and Forecast – By Indication
- Coronary intervention
- Peripheral intervention
- Market Analysis, Insights and Forecast – By End-user
- Hospitals & ASCs
- Specialty Clinics and Catheterization Laboratories
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Market Analysis, Insights and Forecast – By Drug
- Europe Drug-eluting Balloon Catheters Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Drug
- Paclitaxel
- Sirolimus
- Others
- Market Analysis, Insights and Forecast – By Drug
TOC Continued….
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