by Drug eluting balloons are coated or loaded with antithrombotic or antimitotic medications that act on the vessel wall and inhibit restenosis after angioplasty. Drug eluting balloons deliver drugs directly to the vessel wall with minimal systemic drug absorption as compared to drug eluting stents which have a propensity for late thrombosis. The global drug eluting balloon market has gained immense popularity as it provides an alternative to drug eluting stents for treating arterial blockages with lower safety issues. Drug eluting balloons are used to treat injuries to peripheral and coronary arteries caused by narrowing or blockages. The key advantage of drug eluting balloons is that they allow targeted drug delivery to the treatment site, facilitating better control of tissue growth and vascular healing as compared to uncoated angioplasty balloons.
The global Drug Eluting Balloon Market is estimated to be valued at US$ 667.78 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
One of the major trends in the drug eluting balloon market is the growing preference for paclitaxel drug coated balloons. Paclitaxel is an anticancer medication that also has anti-restenotic and anti-proliferative properties. Paclitaxel coated balloons such as SeQuent Please have shown promising clinical outcomes for treating coronary as well as peripheral artery diseases. Ongoing research and new product launches involving paclitaxel or alternative drugs are expanding the applications of drug eluting balloons, thereby propelling revenue growth of this market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. Significant capital investments are required along with established distribution channels and regulatory approvals pose entry barriers.
Bargaining power of buyers: The bargaining power of buyers is moderate. Buyers have few alternatives, though they can negotiate on pricing and demand innovation.
Bargaining power of suppliers: The bargaining power of suppliers is low. Several suppliers provide raw materials, giving buyers multiple sources to choose from.
Threat of new substitutes: The threat of new substitutes is low. Drug-eluting balloons have fewer side effects than other alternatives for cardiovascular diseases.
Competitive rivalry: Competition is moderate to high as players compete on innovation, quality and pricing.
Key Takeaways
The Global Drug Eluting Balloon Market Growth is expected to witness high. The market size for 2023 is US$ 667.78 Mn and forecast period is 2023 to 2030 with a CAGR of 13%.
Regional analysis: Europe dominates the market currently due to rising cardiovascular disease burden and availability of reimbursement. However, Asia Pacific is expected to grow at the fastest pace owing to increasing healthcare expenditure and growing medical tourism.
Key players: Key players operating in the Drug Eluting Balloon Market are Cato Manufacturing Ltd, Culver Props, Inc., Delta Electronics, Inc., Dowty Circuits Limited, Hartzell Propeller, Inc., McCauley Propeller Systems, Inc., Sensenich Propeller Service, Inc., and others. They compete on innovation, quality and pricing to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
