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Drug-Eluting Balloon Market to Expand with a CAGR of 15.6% from 2019-2027
Peripheral drug-eluting balloon segment is expected to drive the market for drug-eluting balloon over the forecast period by product type segment.According to a new market research study titled 'Drug-Eluting Balloon Market to 2027 - Global Analysis and Forecasts by Product Type, End User and Geography. The global drug-eluting balloon market is expected to reach US$ 1,870.60 Mn in 2027 from US$ 516.65Mn in 2018. The market is estimated to grow with a CAGR of 15.6% from 2019-2027. The report highlights trend prevalent in the global drug-eluting balloon market and the factors driving the market along with those that act as challenges to its growth.
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The global drug-eluting balloon market is segmented on the basis of product type and end-user. The market based on product type segment is classified as coronary drug-eluting balloons, peripheral drug-eluting balloons, and other product types. Based on the end-user the market is segmented as hospitals, Cath labs & cardiac centers, and ambulatory surgical centers.
The key factors accounting for the growth of the drug-eluting balloon market include a significant increase in vascular disease incidences, growing product innovations, and rising geriatric population. Whereas, the market is expected to have slow growth due to the high cost of procedures and products and stringent regulations for approval during the forecast period.
Major players operating in the drug-eluting balloon market include Medtronic plc, Becton, Dickinson and Company, Boston Scientific Corporation, Cook Medical, B. Braun Melsungen AG, Koninklijke Philips N.V., Opto Circuits Limited, Terumo Corporation, Biotronik SE & Co. KG, Innvolution Healthcare Pvt. Ltd. The market has carried out various organic and inorganic growth strategies in the market. The organic strategies were conducted majorly and the strategies have assisted in strengthening their product offering and position in the global drug-eluting balloon market.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Semiconductors, Healthcare, Manufacturing, Automotive and Defense.
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