Seattle, Sept. 12, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global drug eluting balloon market is estimated to be valued at US$ 616.6 million in 2022 and is expected to exhibit a CAGR of 8.3% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Drug Eluting Balloon Market:
Major players operating in the market are focusing on getting approval for new products and launching new products in the market. For instance, in February 2021, according to the U.S. Food and Drug Administration (FDA) continues to acknowledge a possible mortality risk with paclitaxel-coated balloons and stents intended to treat new or recurring atherosclerotic lesions in the femoropopliteal artery. A study of paclitaxel-coated stents and balloons used to treat peripheral artery disease in the legs found no evidence of harm associated with the devices, appearing to contradict an earlier mortality signal from a meta-analysis that FDA recommended physicians factor into treatment decisions. The U.S. Food and Drug Administration (FDA) still monitoring safety signal with paclitaxel stents in PAD. The researchers noted several limitations to the new study, including a shorter follow-up time of 2.72 years than the meta-analysis, in which the mortality signal was most apparent in the fourth and fifth years. The findings were presented in February 2021, at the American College of Cardiology’s virtual meeting and published in JAMA Internal Medicine. The SAFE-PAD researchers said the study is ongoing and will continue the safety evaluation of the devices until the median follow-up of all patients surpasses five years
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Key Market Takeaways:
The global drug eluting balloon market is expected to exhibit a CAGR of 8.3% during the forecast period due to the increasing geriatric population that is prone to cardiovascular diseases is expected to propel demand for angioplasty, which in turn is expected to boost the market growth. For instance, in May 2021, according to Centre for Disease Control and Prevention, 14.2% of adults aged 45 years and older reported having coronary heart disease (CHD), a stroke, or both. 9.6% adults aged 45 to 64 years reported being diagnosed with CHD, or a stroke, or both compared with 21.7% of adults aged 65 years and older. According to Center for Disease Control and Prevention, in India, in 2017–18, in the population older than 60 years, the prevalence of self-reported cardiovascular diseases was 45% in the richest monthly per capita expenditure (MPCE) quintile and 27% in the poorest MPCE quintile.
Among end user, hospitals and ambulatory service centers segment held a dominant position in the drug eluting balloon market in 2022, owing to high adoption rate of the devices in hospitals and ambulatory service centers.
Competitive Landscape:
Key players operating in the global drug eluting balloon market include Medtronic, Becton, Dickinson 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
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Market Segmentation:
- Global Drug Eluting Balloon Market, By Product Type:
- Coronary Drug Eluting Balloon
- Peripheral Drug Eluting Balloon
- Others
- Global Drug Eluting Balloon Market, By End User:
- Hospitals
- CATH Laboratories
- Ambulatory Surgical Centres
- Others
- Global Drug Eluting Balloon Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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