The global Drug-Eluting Balloon Catheters Market was valued at US$ 400 million in 2021 and it is anticipated to grow up to US$ 1.1 billion by 2031, at a CAGR of 10.7% during the forecast period.
A drug-eluting balloon is a non-stent technology in which the vessel wall processes the effective homogeneous delivery of anti-proliferative drugs via an inflated balloon. Healthcare infrastructure has undergone significant changes in the last decade as technology has proliferated and healthcare research has expanded significantly. Rising obesity, an ageing population, and an increase in the prevalence of coronary artery disease are some of the factors driving demand for drug-eluting balloon catheters. When stents are used in conjunction with a balloon catheter, they are referred to as balloon expandable stents, as opposed to self-expandable stents, which are typically made of nitinol alloy
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Market Drivers and Trends
The increasing prevalence of coronary artery disease among people all over the world is the primary driver of the industry’s growth. For example, according to the World Health Organization, approximately 3.8 million men and 4.4 million women will die from coronary heart disease. Furthermore, the number of deaths between the ages of 15 and 59 is approximately 1332 million, and the number of deaths over the age of 60 is approximately 5825 million. Furthermore, according to the Centers for Disease Control and Prevention, coronary heart disease will be the most common type of heart disease in upcoming years, killing 382,820 people globally.
Furthermore, the industry’s growth will be driven by increasing prevalence of diabetes. According to the World Health Organization’s October 2018 report, diabetes is responsible for approximately 1.6 million deaths worldwide. According to the Centers for Disease Control and Prevention, diabetes has affected 537 million adults (20-79 years) worldwide in 2021, accounting for one in every ten people. China has the most diabetics in the world, with approximately 141 million people suffering from the disease. Diabetes is expected to affect approximately 174 million people in China by 2045. These factors are expected to drive the growth of the global Drug-Eluting Balloon Catheters Market.
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Major Players in the Global Drug-Eluting Balloon Catheters Market
The key players studied in the global Drug-Eluting Balloon Catheters Market are B. Braun Melsungen AG, Medtronic, BD Interventional, Biotronik AG, Eurocor GmbH, MedAlliance, Boston Scientific Corporation, Lepu Medical Technology Co Ltd, iVascular S.L.U, and Cook Medical among others.
COVID-19 Impact
The COVID-19 pandemic and lockdown in various countries around the world has had a negative impact on businesses in all sectors. The COVID-19 pandemic has impacted the entire healthcare supply chain, owing to strict lockdown in several regions. Similarly, because of the delayed peripheral, interventional, and cardiovascular surgical procedures caused by the COVID-19 pandemic, the drug-eluting balloon catheters industry suffered greatly. Many countries prioritized the treatment of coronavirus patients in order to keep the system from becoming overburdened by the high case count. All non-emergency procedures, including catheterization, were also postponed in order to redirect resources to pandemic patient treatment and care.
However, demand for drug-eluting balloon catheters is expected to skyrocket in the post-pandemic era. Despite the fact that the pandemic caused a significant drop in sales, the market has recovered the losses in the coming years as research accelerates.
Global Drug-Eluting Balloon Catheters Market Segmentation
By Product
- Coronary Artery Disease
- Peripheral Vascular Disease
By End-User
- Hospitals and Clinics
- Ambulatory surgical centers
- Catheterization Laboratories
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