Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Drug Eluting Balloons - Market Insights, Competitive Landscape, and Market Forecast - 2028" report has been added to ResearchAndMarkets.com's offering.
The global drug-eluting balloon market is witnessing a significant uptick, thanks to the growing prevalence of coronary and peripheral artery diseases coupled with increased adoption of minimally invasive surgical techniques. A comprehensive study, providing in-depth market insights, competitive landscape, and a forecast up to the year 2028, has been recently added to an industry research collection and is now accessible.
According to the detailed analysis, the market for drug-eluting balloons is projected to experience a compounded annual growth rate (CAGR) of 8.31% between 2023 and 2028. The substantial growth is attributed to a myriad of factors, including the escalation in heart disease cases, technological advancements in balloon catheterization, and a shift towards less invasive medical interventions. This market evolution is anticipated to benefit a range of end users, from hospitals and ambulatory surgical centers to other healthcare facilities at a global scale.
Key Market Dynamics Contributing to Drug-Eluting Balloon Industry Expansion
- Rising global incidence of peripheral and coronary artery diseases, with reports from authoritative health organizations citing millions affected worldwide.
- Innovations and the ability of drug-eluting balloons to deliver targeted drug therapy more efficiently as compared to traditional methods.
- Growing market player investment in the development and approval of novel products, offering improved patient outcomes.
- Technological advancements enhancing the performance and safety profile of drug-eluting balloon products.
- Increased availability of favorable reimbursement policies, especially in regions like North America, which bolsters market growth.
- Potential constraints such as product recalls and stringent regulatory procedures that may impact the speed of market penetration.
Segment and Regional Analysis Foresees North American Market Domination
The report suggests that among product types, the peripheral drug-eluting balloon sector is predicted to hold a commanding market share due to its efficacy and the surging prevalence of peripheral artery disease (PAD). Addressing regional market trends, North America is expected to maintain dominance, powered by an increase in heart disease cases and the presence of a robust healthcare infrastructure facilitating the integration of drug-eluting balloons in treatment protocols.
Enhanced focus towards patient care and procedural safety is driving healthcare providers to adopt these advanced therapeutic solutions, positioning the drug-eluting balloon market for remarkable growth through to 2028. This dynamic market is served by a host of key players navigating the landscape through strategic partnerships, trailblazing product launches, and innovative research quintessential to continued expansion and diversification.
The comprehensive study affords crucial insights into how these factors interact to shape the drug-eluting balloon market landscape, offering a pivotal resource for stakeholders within the medical device and healthcare sectors. It elucidates on the commercial potential of drug-eluting balloons across various geographical regions and end-use segments, outlining substantive opportunities for industry participants to engage with an evolving market.
A selection of companies mentioned in this report includes
- Boston Scientific Corporation
- BD
- Terumo Corporation
- Medtronic
- Koninklijke Philips N.V.
- Cordis
- Cook
- BIOTRONIK
- SurModics Inc.
- B. Braun SE
- Aachen Resonance Entwicklungsgesellschaft mbH
- Biosensors International Group, Ltd.
- Eurocor GmbH
- iVascular
- Innvolution
- Cardiovascular Systems, Inc.
- Genesis Medtech
- Concept Medical
- Cardionovum GmbH
- YINYI (LIAONING) BIOTECH CO., LTD.
For more information about this report visit https://www.researchandmarkets.com/r/mosvrb
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