Drug-eluting Balloon Catheters Market
Number of pages: 100 | Report Format: PDF | Published date: March 13, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 540 million |
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Revenue Forecast in 2031 |
US$ 1097 million |
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CAGR |
8.2% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Drug, Product, End-user, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global drug-eluting balloon catheters market was valued at US$ 540 million in 2022 and is expected to register a revenue CAGR of 8.2% to reach US$ 1097 million by 2031.
Drug-eluting Balloon Catheters Market Fundamentals
Drug-eluting balloon catheter is a medical device used in the treatment of vascular diseases, such as peripheral artery disease (PAD) and coronary artery disease (CAD). It consists of a balloon at the end of a catheter inflated inside a narrowed or blocked artery. The balloon is coated with a medication that is slowly released into the arterial wall during inflation, which helps to prevent restenosis (re-narrowing of the artery). The medication used in drug-eluting balloon catheters varies depending on the type of device and the condition being treated. These devices are often used with angioplasty or other interventions to open blocked arteries. They are effective in reducing restenosis rates compared to standard angioplasty alone.
The market for drug-eluting balloon catheters is expected to grow due to the increase in the prevalence of vascular diseases, the aging population, sedentary lifestyles, and the rise in the rates of obesity and diabetes. Additionally, technological advancements and the development of new drug coatings for these devices are expected to drive market revenue growth further.
North America dominates the drug-eluting balloon catheters market due to the region’s high incidence of vascular diseases and the presence of major players in the market. Moreover, Asia Pacific is expected to show the highest revenue growth rate during the forecast period due to the increasing prevalence of vascular diseases and investments in healthcare infrastructure.
Key players in the drug-eluting balloon catheters market include Medtronic, Boston Scientific Corporation, B. Braun Melsungen AG, Koninklijke Philips N.V., and BD.
However, the market also faces challenges, such as the high cost of drug-eluting balloon catheters and concerns over their long-term safety. Ongoing research and development efforts are focused on addressing these concerns and improving the safety and efficacy of these devices.
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Drug-eluting Balloon Catheters Market Dynamics
The incidence of vascular diseases, such as PAD and CAD, is increasing globally due to the aging population, sedentary lifestyles, and rising rates of obesity and diabetes. This drives demand for drug-eluting balloon catheters as an effective treatment option. According to the National Center for Biotechnology Information, CAD causes around 7 million deaths every year globally. Moreover, the demand for minimally invasive procedures is rising, as they offer shorter recovery times and reduced risks compared to traditional surgical interventions. Drug-eluting balloon catheters are a minimally invasive treatment option that can help meet this demand, boosting the revenue growth of the drug-eluting balloon catheters market. Technological advancements in the design and development of drug-eluting balloon catheters are helping to improve their safety and efficacy, leading to increased adoption by healthcare providers and patients. Due to their cost-effectiveness and convenience for patients, the growing preference for outpatient procedures in the healthcare industry is driving an increase in drug-eluting balloon catheters in outpatient settings. Consequently, this propels the revenue growth of the drug-eluting balloon catheters market. Favorable reimbursement policies for drug-eluting balloon catheters are helping to increase their adoption, as they provide cost-effective treatment options for patients.
The drug-eluting balloon catheters market is highly competitive, with many players competing to increase their market revenue share. This is leading to the development of new and innovative products and competitive pricing strategies to attract customers, which is also expected to fuel the revenue growth of the drug-eluting balloon catheters market.
However, the high cost of drug-eluting balloon catheters is restricting the revenue growth of the global drug-eluting balloon catheters market. Concerns about the long-term safety and efficacy of drug-eluting balloon catheters, particularly restenosis, and thrombosis, hamper the drug-eluting balloon catheters market revenue growth.
Drug-eluting Balloon Catheters Market Ecosystem
The global drug-eluting balloon catheters market is analyzed from four perspectives: drug, product, end-user, and region.
Drug-eluting Balloon Catheters Market by Drug
Based on the drug, the global drug-eluting balloon catheters market is segmented into paclitaxel, sirolimus, and others.
The paclitaxel segment dominated the drug-eluting balloon catheters market with the largest revenue share in 2022, as paclitaxel is a drug widely used in drug-eluting balloon catheters for treating PAD and CAD. Paclitaxel is readily available and manufactured by several companies, contributing to its widespread usage in drug-eluting balloon catheters. Paclitaxel is a relatively inexpensive drug, making it an attractive option for drug-eluting balloon catheter manufacturers and healthcare providers, increasing the demand for paclitaxel. Additionally, paclitaxel is effective in a wide range of patients and can be used in various clinical scenarios, which makes it a versatile option for drug-eluting balloon catheters.
The sirolimus segment is expected to grow at a prominent revenue CAGR during the forecast period. Sirolimus-coated drug-eluting balloon catheters are gaining popularity as an alternative to drug-eluting stents. Using sirolimus has significantly reduced the restenosis rate compared to traditional balloon angioplasty. Clinical trials have demonstrated the effectiveness of sirolimus in reducing restenosis rates in patients with PAD and CAD, increasing the demand for sirolimus in drug-eluting balloon catheters.
Drug-eluting Balloon Catheters Market by Product
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Based on the product, the global drug-eluting balloon catheters market is segmented into the coronary drug-eluting balloon, peripheral drug-eluting balloon, and other products.
The coronary drug-eluting balloon segment accounted for a significant revenue share of the drug-eluting balloon catheters market in 2022, owing to the increasing prevalence of CAD globally. Clinical studies have demonstrated that drug-eluting balloon catheters can achieve results similar to drug-eluting stents in reducing restenosis rates but with lower rates of stent thrombosis and a lower risk of repeat revascularization. Drug-eluting balloon catheters are generally more cost-effective than drug-eluting stents, which can be an important consideration for healthcare providers and patients. The coronary drug-eluting balloon catheters segment has been in the market for several years. Many physicians and hospitals are familiar with their use. This established market presence has contributed to their continued dominance in the drug-eluting balloon catheters market.
The peripheral drug-eluting balloon segment accounted for the second-largest revenue share of the drug-eluting balloon catheters market. The rising prevalence of PAD is one of the major factors driving the peripheral drug-eluting balloon segment growth. According to the CDC, approximately 6.5 million people aged 40 and older in the U.S. have PAD. Moreover, there has been an increase in awareness and acceptance of drug-eluting balloon catheters for treating PAD. This has led to more physicians and healthcare providers adopting this treatment option. Clinical studies have demonstrated that drug-eluting balloon catheters can achieve results similar to traditional balloon angioplasty or stenting in reducing restenosis rates but with a lower risk of complications, such as thrombosis, and a lower need for repeat interventions.
Drug-eluting Balloon Catheters Market by End-user
Based on end-user, the global drug-eluting balloon catheters market is segmented into hospitals, ambulatory surgical centers, and others.
The hospitals segment accounted for the largest revenue share of the drug-eluting balloon catheters market in 2022. Hospitals typically have access to advanced medical facilities and equipment, including drug-eluting balloon catheters. This makes them better equipped to provide treatment to patients using these devices. Cardiovascular diseases, such as CAD and PAD, are rising, increasing demand for drug-eluting balloon catheters. Hospitals are often the first point of contact for patients with these conditions, further strengthening their market position. Hospitals typically have a high patient footfall, including those with cardiovascular diseases, thus fueling segmental growth. Many hospitals have established relationships with insurance providers, which may provide favorable reimbursement policies for procedures using drug-eluting balloon catheters. This can further incentivize hospitals to use these devices.
Drug-eluting Balloon Catheters Market by Region
Geographically, the global drug-eluting balloon catheters market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for a significant market revenue share in 2022. Cardiovascular diseases, such as CAD and PAD, are rising in North America. This has increased the demand for drug-eluting balloon catheters as a treatment option. According to CDC, in the U.S., about 20.1 million adults aged 20 and older have CAD. In 2020, about 2 in 10 CAD deaths were registered in adults under 65. Developing new and advanced drug-eluting balloon catheters technologies, such as those with improved coatings and drug delivery mechanisms, has improved treatment outcomes and patient satisfaction. This has further driven the demand for these devices in the North America market. Patients and physicians in North America are increasingly opting for minimally invasive procedures, which offer lower risk, faster recovery times, and fewer complications. Drug-eluting balloon catheters, less invasive than traditional surgery, have gained popularity as a treatment option, driving regional growth. In North America, many insurance providers have established reimbursement policies for procedures using drug-eluting balloon catheters. This has incentivized hospitals and physicians to use these devices, driving their adoption and regional growth.
Drug-eluting Balloon Catheters Market Competitive Landscape
The prominent players operating in the global drug-eluting balloon catheters market are:
Drug-eluting Balloon Catheters Market Strategic Developments
The drug-eluting balloon catheters market was valued at US$ 540 million in 2022.
Drug-eluting balloon catheter is a medical device for treating vascular diseases, such as PAD and CAD. It consists of a balloon at the end of a catheter inflated inside a narrowed or blocked artery.
The prominent players operating in the global drug-eluting balloon catheters market are Boston Scientific Corporation, Medtronic plc, Koninklijke Philips NV, Becton, Dickson, and Company, and B. Braun Melsungen AG.
The coronary drug-eluting balloon segment dominates the global drug-eluting balloon catheters market.
North America accounts for the largest market share in terms of revenue. Asia Pacific has the fastest revenue growth rate due to the rapid market developments.
*Insights on financial performance are subject to the availability of information in the public domain