The Drug Eluting Balloon Market is estimated to be valued at US$ 667.78 Mn or Mn 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 incorporate drugs into balloon coatings that are locally delivered to treat diseased arteries. These balloons are used to perform percutaneous transluminal angioplasty and deliver medications to prevent re-narrowing of arteries. The drugs eluted include paclitaxel and limus drugs that inhibit cell proliferation and prevent restenosis. Drug eluting balloons are used to treat in-stent restenosis, small vessel disease, bifurcation lesions, and de novo coronary artery disease.

Market Dynamics:
The growth of the drug eluting balloon market is driven by rising geriatric population and increasing incidences of cardiac diseases. As per WHO, cardiovascular diseases are the number one cause of death globally, taking an estimated 17.9 million lives each year. Further, aging population is more susceptible to cardiac ailments. For example, according to the U.S. Census Bureau, the U.S. elderly population aged 65 years or over is projected to double from 52 million to nearly 95 million by 2060. Additionally, drug eluting balloons offer various advantages over drug eluting stents such as lower risk of stent thrombosis, ability to treat complex lesions, and are less expensive. However, lengthy balloon inflation times and need for high pressure while inflating balloon increases risk of arterial rupture, thereby hindering market growth.
Segment Analysis
The Global Drug Eluting Balloon Market Size  is dominanted by the coronary artery diseases segment. About 85% of the total market share is captured by this segment. This is because coronary artery diseases, which includes conditions like angina and heart attacks, are among the leading causes of mortality worldwide. The number of percutaneous coronary intervention procedures using drug eluting balloons is growing significantly for the treatment of coronary artery diseases.

PEST Analysis
Political: Governments in many countries are funding various awareness programs about cardiovascular diseases to reduce mortality rates. This is increasing the demand for effective treatment options like drug eluting balloons.
Economic: Developed markets like North America and Europe currently account for over 65% of the total market revenue owing to high healthcare spending. However, growth rates are higher in developing economies of Asia Pacific due to rising disposable incomes.
Social: Rising lifestyle diseases and growing geriatric population are key social factors driving the demand. People are increasingly adopting sedentary lifestyle which increases the risk of heart conditions.
Technological: Advancements in drug carrier materials and coating technologies have improved drug transfer efficiency of balloons. Additionally, manufacturers are focusing on developing specialty balloons for other vascular applications beyond coronary.

Key Takeaways
The global drug eluting balloon market size is expected to reach US$ 667.78 Mn by 2023, expanding at a CAGR of 8.3% during 2023-2030. The rising prevalence of cardiovascular diseases and increasing adoption of minimally invasive procedures are fueling market growth.

Regional analysis: North America currently dominates the market, However, Asia Pacific is emerging as the fastest growing region due to rising Healthcare expenditure in major countries like China and India. Investments by both public and private players are boosting the healthcare infrastructure and treatment rate in the region.

Key players analysis: Key players operating in the drug eluting balloon market are Medtronic, Becton and Company (BD), Boston Scientific Corporation, Cook Medical, B. Braun Melsungen AG, Koninklijke Philips N.V., Opto Circuits (India) Limited, Terumo Corporation, Surmodics, Inc., and Biotronik. These players are focusing on new product launches and expansion in high growth markets to gain competitive advantage.

For more details on the report,  Read- https://www.ukwebwire.com/drug-eluting-balloon-market-analysis/