Drug Eluting Balloon Market Size, Share, Industry Trends and Forecast to 2030

Drug Eluting Balloon Market Size & CAGR in 2021

The global drug eluting balloon market size in 2021 was valued at USD 560 million, with a Compound Annual Growth Rate (CAGR) of 4.8%.

COVID-19 Impact on the Drug Eluting Balloon Market

The COVID-19 pandemic had a significant impact on the drug eluting balloon market. Due to lockdowns and restrictions on elective medical procedures, the market witnessed a temporary decline in demand. However, with the gradual reopening of healthcare facilities, the market is expected to bounce back.

Drug Eluting Balloon Dynamics

Drug eluting balloons are innovative medical devices used in the treatment of coronary artery disease. These balloons are coated with anti-restenotic drugs and are deployed in arteries during angioplasty procedures to prevent restenosis.

The increasing prevalence of cardiovascular diseases, advancements in medical technology, and a growing aging population are some of the key factors driving the growth of the drug eluting balloon market. Furthermore, the shift towards minimally invasive procedures and the rising adoption of these balloons by healthcare providers are contributing to market expansion.

Segments and Related Analysis

The drug eluting balloon market can be segmented based on type, coating material, application, end-user, and region. The key segments include peripheral artery disease, coronary artery disease, drug type, and drug coating material.

By Region Analysis

The drug eluting balloon market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds the largest market share due to the presence of advanced healthcare infrastructure and a high prevalence of cardiovascular diseases. Asia Pacific is expected to witness significant growth due to increasing healthcare expenditure and a rising geriatric population.

Key Market Players and Competitive Landscape

Some of the key players in the drug eluting balloon market include Medtronic, B. Braun Melsungen AG, Cook Medical, Boston Scientific Corporation, and C. R. Bard, Inc. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge in the market.

Recent Happenings in the Drug Eluting Balloon Market

In recent developments, Boston Scientific Corporation launched a new drug eluting balloon for the treatment of coronary artery disease. This innovative product is expected to revolutionize the way cardiovascular diseases are managed. Additionally, Medtronic announced a strategic collaboration with a leading research institution to conduct clinical trials on the effectiveness of drug eluting balloons in complex cardiovascular cases.

Overall, the drug eluting balloon market is poised for significant growth in the coming years, driven by technological advancements, increasing disease prevalence, and a growing focus on minimally invasive treatment options.