Global Coronary Drug Eluting Balloon Market Size By Drug Type, By Application, By End-User, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Coronary Drug Eluting Balloon Market Size By Drug Type, By Application, By End-User, By Geographic Scope And Forecast
Coronary Drug Eluting Balloon Market Size And Forecast
Coronary Drug Eluting Balloon Market size was valued at USD 93.34 Million in 2023 and is projected to reach USD 550.3 Million by 2031, growing at a CAGR of 27.39%during the forecast period 2024-2031.
Global Coronary Drug Eluting Balloon Market Drivers
The market drivers for the Coronary Drug Eluting Balloon Market can be influenced by various factors. These may include
Growing Coronary Artery Disease (CAD) Incidence As a result of sedentary lifestyles, aging populations, and changes in lifestyle, CAD is becoming more and more common worldwide. This has led to a growing need for sophisticated treatment alternatives, such as DEBs.
Benefits Compared to Conventional Treatments DEBs are more widely used by doctors and patients because they have fewer side effects and a lower risk of restenosis and thrombosis than conventional treatments like drug-eluting stents (DES) and bare-metal stents (BMS).
Technological Developments The efficacy and safety of DEBs are being improved, making them more appealing for coronary treatments. These developments are being made in balloon materials, coatings, and medication formulations.
Preference for Minimally Invasive Procedures Treatment alternatives with shorter hospital stays, fewer complications, and quicker recovery times are becoming more and more popular among patients and healthcare professionals. Because DEBs are a less intrusive option, they are becoming more and more popular in the market.
Growing Healthcare Spending More money is being spent on healthcare internationally, especially in developing nations, which is making modern medical treatments and devices—like DEBs—more accessible.
Regulatory Approvals and Reimbursement Policies Since they affect patient accessibility and affordability, favorable regulatory approvals and reimbursement policies in important markets are essential for market penetration and DEB acceptance.
Partnerships & Collaborations Research centers, healthcare providers, and manufacturers of medical devices are working together to promote innovation, product development, and market expansion for DEBs.
Global Coronary Drug Eluting Balloon Market Restraints
Several factors can act as restraints or challenges for the Coronary Drug Eluting Balloon Market. These may include
Regulatory Obstacles Tight regulations pertaining to the authorization of medical devices, such as balloons that release medication, may impede the expansion of the industry. Adherence to regulatory requirements, such as FDA clearances in the US and CE marking in Europe, is essential but can be expensive and time-consuming.
High Cost Adoption of drug-eluting balloon treatments may be hindered by the high cost of these procedures, particularly in emerging economies where healthcare funds may be limited. Furthermore, it’s possible that payment policies won’t completely cover the costs, which would limit patients’ access.
Limited Clinical Evidence Although the initial results seem encouraging, there may not be enough long-term clinical evidence to evaluate the safety and effectiveness of drug-eluting balloons to more established treatments like drug-eluting stents. Patients and healthcare professionals may be reluctant to use this technology as a result of this ambiguity.
Technological Difficulties Drug-eluting balloon technologies require ongoing innovation and research & development expenditures in order to create and refine. Market expansion is hampered by technical issues like maintaining balloon integrity, guaranteeing homogenous drug coating, and attaining optimal drug delivery.
Competition from Alternative Therapies Drug-eluting stents and bypass surgery are two alternative treatments that drug-eluting balloons must contend with. These substitutes might be seen as having benefits in terms of durability, long-term efficacy, or ease of use, which could influence the use of drug-eluting balloons.
Limited Knowledge and Training In difficult instances, healthcare personnel may need specific training to use and launch drug-eluting balloons safely. Market adoption may be slowed by doctors’ and patients’ ignorance of the advantages and suitable uses of drug-eluting balloons.
Risk of Complications Despite improvements, there is still a chance that drug-eluting balloon procedures could result in thrombosis, restenosis, vascular damage, or allergic responses to the coatings or medications. Some patients and doctors may be discouraged from selecting this course of treatment due to worries about these possible consequences.
Global Coronary Drug Eluting Balloon Market Segmentation Analysis
The Global Coronary Drug Eluting Balloon Market is Segmented on the basis of, Drug Type, Application, End-User and Geography.
Coronary Drug Eluting Balloon Market, By Drug Type
Paclitaxel-Eluting Balloons These balloons are coated with paclitaxel, a medication commonly used in chemotherapy, to prevent the reoccurrence of stenosis (narrowing of blood vessels).
Sirolimus-Eluting Balloons These balloons are coated with sirolimus, an immunosuppressant drug, to inhibit the growth of scar tissue in the arteries and prevent restenosis.
Coronary Drug Eluting Balloon Market, By Application
Percutaneous Coronary Intervention (PCI) This is a non-surgical procedure used to open blocked or narrowed coronary arteries. Drug-eluting balloons are used during PCI to treat coronary artery disease.
In-Stent Restenosis Treatment When a stent placed during a previous PCI procedure becomes narrowed due to tissue growth, drug-eluting balloons can be used to treat this condition.
Coronary Drug Eluting Balloon Market, By End-User
Hospitals Hospitals are the primary end users of coronary drug-eluting balloons, where these devices are used in interventional cardiology procedures.
Ambulatory Surgical Centers (ASCs) ASCs are outpatient facilities where certain surgical procedures, including PCI, can be performed.
Coronary Drug Eluting Balloon Market, By Geography
North America Market conditions and demand in the United States, Canada, and Mexico.
Europe Analysis of the Coronary Drug Eluting Balloon Market in European countries.
Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
Middle East and Africa Examining market dynamics in the Middle East and African regions.
Latin America Covering market trends and developments in countries across Latin America.
Key Players
The major players in the Coronary Drug Eluting Balloon Market are
By Drug Type, By Application, By End-User and By Geography.
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