Demand for Drug Eluting Balloon Catheter Increasing with Rising Cases of Cardiovascular Disease: Fact.MR
Development of new-generation drug-eluting balloon catheters has been gaining pace, thanks to increasing research and development initiatives
The latest report by Fact.MR on global drug eluting balloon catheter (DEBC) market forecasts a positive outlook through 2021 and beyond. The growing prevalence of cardiovascular problems and surging rate of cardiology intervention procedures are improving the demand of DEBC.
According to the study, the global drug eluting balloon catheter market is poised to grow at an impressive CAGR of 18.3% through 2022.
Factors such as improvement in reimbursement policies, rising number of patients who are unable to go percutaneous coronary intervention (PCI), and soaring incidence of cardiovascular diseases is boosting the demand of DEBC market.
According to a report by the European Heart Network, every year 3.9 people in Europe get diagnosed with cardiovascular disease who are unable to undergo PCI. Among these statistics, around 45% of these results in mortality. The aforementioned statistics has prompted the market players to develop more efficient and advanced drug eluting balloon and drug-coated balloon, advancing the sales of DEB catheter market.
“Rising cases of cardiovascular diseases are compelling the healthcare sector to develop advanced devices under the catheter segment, which is driving the drug eluting balloon catheter market,” says the Fact.MR analyst.
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Key Takeaways
- By indication, coronary artery disease is expected to account for 83% market share
- Hospital to be the primary end user and is expected to reach a valuation of US$ 333 Mn by 2022-end
- India and China is expected to emerge as the fastest growing market through 2021
- UK to lead the European market with an impressive CAGR of 20.5%
- By raw-material, nylon is expected to provide lucrative growth opportunities for drug eluting balloon catheter manufacturer
Prominent Drivers
- Development of low cost devices and research initiatives among manufacturers to further boost the demand
- Surging rate of cardiology intervention procedures and rising cases of cardiovascular problems to improve the growth
- Increasing healthcare infrastructure and growing geriatric population to drive the demand
Key Restraints
- High cost due to the advanced diagnostic technologies to pose a challenge for drug eluting balloon catheter market
- Lack of precision and accuracy with potential financial implication is likely to restrict the demand
Discover more about the Drug eluting Balloon catheter market with 63 figures, 211 data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/146/drug-eluting-balloon-catheter-market
Competitive Landscape
Some of the prominent players identified in global drug eluting balloon catheter by Fact.MR includes Medtronic PLC., Cook Medical Inc., Abbott Laboratories, Jotech GmbH, Terumo Corporation, Tokai Medical Products Inc., B. Braun Melsungen AG, Cardionovum GmbH, Cordis Corporation, Meril Life Sciences Pvt. Ltd., MicroPort Scientific Corporation, and Boston Scientific Corporation among others.
In July 2020, MedAlliance announced the enrollment of first patient in its study of SLR 0.014 drug-eluting balloon for the treatment of in-stent restenosis (ISR). It is the world’s first DEB accepted by the FDA for its breakthrough program.
Also, a leading player iVascular announced the launch of its range of drug-eluting balloons with immediate worldwide availability. The range included luminor 14, luminor 35 and essential.
More Insights on the Drug eluting Balloon catheter Market
Fact.MR sheds an in-depth analysis on global drug eluting balloon catheter market. In order to understand the market perspective, trends and challenges, the market is segmented on the basis of indication (coronary artery diseases and peripheral vascular disease), end-user (hospitals, ambulatory surgical centers, and cardiac catheterization laboratories), and raw material (polyurethane, nylon and others) across seven regions.
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Source: Fact.MR