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Drug Eluting Balloons Catheters Market Analysis, Trends, Growth, Research And Forecast 2033
Drug Eluting Balloons Catheters Market Analysis
According to The Business Research Company's, the drug eluting balloons catheters market size has grown rapidly in recent years. It will grow from $1.23 billion in 2023 to $1.43 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to increasing respiratory disorders, advantages over traditional inhalers, patient preference for dpis, government initiatives for respiratory health, strategic collaborations and partnerships, advancements in drug formulations, rising geriatric population..
The drug eluting balloons catheters market size is expected to see rapid growth in the next few years. It will grow to $2.35 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to continued growth in respiratory disorders, expanding geriatric population, increasing awareness and education, market expansion in emerging economies, customized drug formulations, regulatory support and compliance, innovations in packaging and design.. Major trends in the forecast period include smart inhalers and connectivity, shift towards breath-actuated inhalers, focus on pediatric and geriatric patient needs, biologics delivery, environmentally friendly inhaler designs..
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Market Drivers and Trends:
The growing prevalence of peripheral and cardiovascular diseases is expected to propel the growth of the drug-eluting balloon catheter market going forward. Cardiovascular diseases (CVDs) refer to a group of conditions that impact the heart and the circulatory system, whereas peripheral artery disease (PAD) specifically refers to a condition where narrowed arteries reduce blood flow primarily to the arms or legs. Drug-eluting balloon catheters are a type of treatment for coronary artery disease (CAD) that uses a semi-compliant angioplasty balloon coated with an anti-proliferative substance that, when it enters the vessel, can have an anti-restenotic effect. For instance, in April 2023, according to the British Heart Foundation, a UK-based cardiovascular research charity, the number of deaths from coronary heart disease in the UK in 2021 was 65,579, up from 64,170 in 2020. Furthermore, in April 2023, according to HMP Global, a US-based multi-accredited patient-centered education company, it is projected that the prevalence of peripheral arterial disease in the US will reach 23.8 million in 2030, up from 21.0 million in 2020. Therefore, the growing prevalence of peripheral and cardiovascular diseases is driving the drug-eluting balloon catheter market.
Major companies operating in the drug-eluting balloon catheter market are increasing their focus on developing the newest-generation products with advanced technologies to gain a competitive edge in the market. For instance, in July 2021, Medtronic PLC, an Ireland-based medical technology company, launched Prevail DCB in Europe, its latest-generation drug-coated balloon catheter for the treatment of coronary artery disease. This device is specifically designed for use in PCI (percutaneous coronary intervention) procedures, assisting in the treatment of constricted or obstructed coronary arteries associated with coronary artery disease (CAD). The Prevail DCB employs paclitaxel, a drug that's quickly absorbed, to effectively treat new lesions, issues in small vessels, and in-stent restenosis (ISR). Furthermore, by integrating PowerTrac, a cutting-edge technology previously found in the delivery system for the Medtronic Resolute Onyx DES, it provides superior deliverability and pushing power.
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Major Key Players of the Market:
Abbott Laboratories, Medtronic PLC, Becton Dickinson and Company, Koninklijke Philips NV, Boston Scientific Corporation, B Braun Melsungen Aktiengesellschaft, Terumo Corporation, Cook Medical LLC, Lepu Medical Technology Co. Ltd., Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corporation, BIOTRONIK SE & Co. KG, Acotec Scientific Co. Ltd., Cordis Corporation, Biosensors International Group Ltd., Zylox-Tonbridge Medical Technology Co. Ltd., Mermaid Medical AS, Hexacath Limited, Zhejiang Barty Medical Technology Co. Ltd., Cardionovum GmbH, Nano Therapeutics Pvt. Ltd., Tokai Medical Products Inc., Opto Circuits Limited, Acrostak (Schweiz) AG, Machine Solutions Inc., Concept Medical Inc., Aachen Resonance GmbH, AR Baltic Medical UAB
Drug Eluting Balloons Catheters Market 2024 Key Insights:
• The drug eluting balloons catheters market is expected to grow to $2.35 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%.
• Expanding Prevalence Of Cardiovascular And Peripheral Diseases Fuels Drug-Eluting Balloon Catheter Market Growth
• Introducing Newest-Generation Products For Advancing Coronary Artery Disease Treatment
• North America was the largest region in the drug eluting balloons catheters market in 2023
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