The global Drug Eluting Balloon Market is estimated to be valued at US$ 667.78 Mn or in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:-

Drug Eluting Balloons refer to angioplasty balloons coated with an anti-proliferative or cytostatic drug. They are used to treat coronary artery disease and prevent re-stenosis after balloon angioplasty by administration of drug locally to inhibit cell multiplication.

Market key trends:-

One of the major trends in the drug eluting balloon market is increasing adoption of drug coated balloons over drug eluting stents. Drug coated balloons are associated with reduced risk of stent thrombosis as compared to drug eluting stents. Drug coated balloons provide a homogeneous distribution of drug to the vessel wall without leaving a permanent implant. They also reduce the need for long term dual antiplatelet therapy which is usually needed for drug eluting stents. Rising geriatric population suffering from cardiovascular diseases and increasing usage of minimally invasive procedures are also fueling the demand for drug eluting balloons globally.

SWOT Analysis:-

• Strengths: Drug-eluting balloons have better clinical outcomes and fewer complications compared to uncoated balloons. They offer advantages like reduced restenosis rates.
• Weaknesses: High cost of drug-eluting balloons limits their widespread adoption. Lack of long term safety and efficacy data.
• Opportunities: Rising geriatric population prone to cardiovascular diseases provides growth opportunities. Increasing R&D investments to expand indications.
• Threats: Stiff competition from drug-eluting stents. Potential risks of late stent thrombosis. Stringent regulatory approval process delays market entry of new players.

Key Takeaways:-

The Global Drug Eluting Balloon Market Size is expected to witness high growth, exhibiting CAGR of 8.3% over the forecast period, due to increasing prevalence of cardiovascular diseases.

Regional analysis: North America dominated the market in 2020 and is expected to maintain its lead over the forecast period. However, Asia Pacific is expected to witness fastest growth in the coming years driven by increasing healthcare spending and availability of low-cost treatment options.

Key players: Medtronic, Boston Scientific Corporation, Cook Medical, B. Braun Melsungen AG, Koninklijke Philips N.V., Opto Circuits (India) Limited, Terumo Corporation, Surmodics, Inc., and Biotronik. Medtronic dominated the market in 2020 with over 25% market share owing to its strong brand recognition and wide product portfolio.

Read More - https://www.insightprobing.com/drug-eluting-balloon-market-forecasts-and-outlook-analysis/