Newark, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Brainy Insights estimates that the drug-eluting balloon catheters market will grow the USD 657.64 million in 2022 and reach USD 1314.24 million by 2030. In just eight years, the growing prevalence of cardiovascular and peripheral diseases, the growing geriatric population, and increasing government initiatives like favourable reimbursement policies are also anticipated to drive market growth during the forecast period. Also, raising demand for cath labs, availability of next-generation stents, changing lifestyle habits, pollution, smoking, and increased healthcare access are expected to drive market growth over the forecast period.
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Key Insight of the Drug-Eluting Balloon Catheters Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest market share in the drug-eluting balloon catheters market. Key factors favouring the growth of the drug-eluting balloon catheters market in North America include the rising prevalence of cardiovascular diseases (CVDs), increased use of tobacco and smoking, and the increasing number of minimally invasive surgical procedures. Further, ongoing improvements in healthcare infrastructure and the growth of medical tourism across multiple developing economies are expected to drive market growth in this region.
During the forecast period, the polyurethane segment will augment the drug-eluting balloon catheter market.
The polyurethane segment held the largest market share in 2022 and is expected to continue during the forecast period owing to the introduction of new technologically advanced equipment. Moreover, polyurethane's unique properties make it biocompatible and hemocompatible, and its cross-linked polymer delivers high elongation and tensile strength, which help to avoid any vessel rupture during the insertion and placement of stents.
The coronary artery disease segment market size is 368.73 Million in 2022
The coronary artery disease segment is anticipated to dominate the market over the forecast period owing to the continued clinical development for treating coronary artery disease. Further, by 2030, the peripheral vascular disease segment will likely dominate the market due to the increasing prevalence of venous diseases or Chronic Venous Insufficiency (CVI).
The hospitals & clinics segment is anticipated to dominate the market by 52.06% in 2030
The hospitals & clinics segment is anticipated to dominate the market in the forthcoming years, owing to the increasing number of in-patient hospital admissions for catheterization procedures. Advancement in market
In June 2020, iVascular SLU company announced the worldwide launch of Essential Pro, a novel coronary artery drug-coated balloon. The Essential Pro DCB offers several platform progress from its predecessor, like superior protection with fast deflation times due to an upsurge in the inflation channel & the availability of two various shafts.
Market Dynamics
Driver: The rising demand for minimally invasive procedures
The increasing vascular disease rates, along with the increased product advancements, are helping to boost market growth. Further, the rising launch of new products and a growing number of product approvals by several market players are propelling the market growth. Moreover, the raised research collaboration & agreements between diverse manufacturers are also driving the market growth during the forecast period. Also, minimally invasive surgeries are much less traumatic than traditional open surgeries. Conventional surgeries performed with conventional laparoscopic tools can be complex and traumatic. Minimally invasive & robotic procedures permit surgeons to advance in video imaging by voice control over the networked operating room.
Restraint: The stringent regulatory process:
Product approvals and safety regulations are the restraining factors of the market. Further, specific rules associated with each type of balloon catheter and probable procedural risks and product recalls are expected to hamper the market growth. However, the global lack of proper reimbursement systems and the low physician-to-patient ratio are restraining the market growth. Additionally, the disappearance of out-of-network reimbursement is also restraining the market growth.
Opportunity: The growing demand for cath labs:
The increasing demand for cath labs is due to the high incidence of cardiovascular illnesses and the technological advancements in diagnostic methods. Further, the growing number of federal initiatives taken by the government to reduce healthcare expenditure is also helping to drive market growth. Additionally, the tendency of patients towards robotic-assisted surgeries is stimulating market growth. Also, a cath lab is an examination room that is equipped with diagnostic imaging tools. The cath labs play an essential role in the visualization of chambers & arteries of the heart. A catheterization laboratory is also known as a cath lab.
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Some of the major players operating in the drug-eluting balloon catheters market are:
• Aachen Resonance GmbH
• Medtronic
• Biosensors International
• B Braun Melsungen AG
• Boston Scientific Corporation
• iVascular S L U
• Biotronik AG
• BD Interventional
• Lepu Medical Technology (Beijing)Co Ltd
• MedAlliance
• Eurocor GmbH
• Zhejiang Barty Medical Technology Co Ltd
Key Segments cover in the market:
By Raw Material:
• Nylon
• Polyurethane
• Others
By Product:
• Peripheral Vascular Disease
• Coronary Artery Disease
By End-User:
• Catheterization Laboratories
• Ambulatory Surgical Centers
• Hospitals & Clinics
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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