Drug Eluting Balloon Market Size to Reach USD 1.0 billion, at a 7.1% CAGR By 2031 - Transparency Market Research, Inc.
Transparency Market Research
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Transparency Market Research
Educational campaigns raising awareness about cardiovascular health drive patient understanding and treatment-seeking behavior.
Wilmington, Delaware, United States, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global drug eluting balloon market is estimated to flourish at a CAGR of 7.1% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for drug eluting balloon is estimated to reach US$ 1.0 billion by the end of 2031.
A prominent factor is the integration of precision medicine in cardiovascular care. Tailoring drug eluting balloon therapies based on genetic and molecular profiles helps enhance treatment efficacy, minimizing adverse events, and boosting patient outcomes. This personalized approach remains relatively unexplored but holds promise for optimizing drug eluting balloon interventions.
Drug Eluting Balloon Market: Competitive Landscape The drug eluting balloon market is characterized by robust competition among key players like Medtronic, BD (Becton, Dickinson and Company), and B. Braun Melsungen AG. These leaders dominate with a diverse range of DEB offerings focusing on cardiovascular interventions.
Players such as Spectranetics (now part of Philips), and Cook Medical contribute significantly, leveraging technological advancements in DEB technology. Emerging companies like Concept Medical Inc. and Hexacath bring forth novel DEB solutions, intensifying market competition.
With a focus on research, strategic partnerships, and product advancements, competition thrives in this market, aiming to offer more efficient and safer solutions for various vascular diseases and interventions. Some prominent manufacturers are as follows:
Bayer AG
Medtronic
B. Braun Melsungen AG
Cook Medical Inc.
Boston Scientific Corporation
Becton, Dickson and Company
EuroCor
Terumo Corporation
Koninklijke Philips N.V.
The evolving role of telemedicine and remote patient monitoring presents a significant driver. As digital healthcare gains prominence, remote monitoring post-DEB procedures ensure better patient compliance and early detection of potential complications. This trend aligns with patient-centric care and aids in improving long-term treatment adherence, potentially influencing drug eluting balloon market dynamics.
The surge in collaborative research efforts between academia and industry constitutes a promising driver. Partnerships fostering joint clinical trials and data sharing accelerate drug eluting balloon technology advancements, offering a deeper understanding of disease mechanisms and driving innovation in drug eluting balloon formulations and delivery systems.
Key Findings of the Market Report
Coronary drug eluting balloon segment leads the drug eluting balloon market due to higher adoption rates in coronary interventions.
Paccocath technology leads the drug eluting balloon market, recognized for its efficient drug delivery mechanism and enhanced clinical outcomes.
Hospitals and ambulatory surgery centers dominate the drug eluting balloon market due to increased cardiovascular procedures and interventions.
Drug Eluting Balloon Market Growth Drivers & Trends
Rising cases of coronary artery disease and peripheral artery disease drive the demand for advanced drug eluting balloon interventions.
Innovations in coating technologies and balloon design enhance efficacy and safety, propelling market growth.
Growing clinical evidence supporting drug eluting balloon efficacy in reducing restenosis rates fuels market adoption among healthcare providers and patients.
Preference for minimally invasive procedures boosts drug eluting balloon utilization in vascular interventions, minimizing patient recovery time and complications.
Growing access to advanced healthcare facilities and increased healthcare spending in developing regions contribute to drug eluting balloon market expansion.
Global Drug Eluting Balloon Market: Regional Profile
North America leads the drug eluting balloon market due to advanced healthcare systems and robust R&D initiatives. Companies like Medtronic and BD dominate, offering innovative DEB solutions for coronary and peripheral interventions. Favorable reimbursement policies further drive market growth in the region.
In Europe, stringent regulatory frameworks and a high prevalence of cardiovascular diseases stimulate drug eluting balloon adoption. B. Braun Melsungen AG and Medtronic stand as key players, leveraging technological advancements and clinical trials to address complex cardiovascular cases.
The Asia Pacific exhibits rapid market growth attributed to increasing healthcare expenditure and rising cardiovascular disease prevalence. Companies like Hexacath and Concept Medical Inc. focus on penetrating this market, offering cost-effective drug eluting balloon solutions and partnering with local healthcare providers. As healthcare infrastructures evolve, the drug eluting balloon market in this region continues to expand, offering promising opportunities for innovation and market growth.
Product Portfolio
EuroCor specializes in innovative medical devices, offering a diverse product portfolio focused on coronary stents and cardiovascular solutions. Their cutting-edge technologies prioritize patient care and improved cardiac outcomes, emphasizing quality and reliability in addressing cardiovascular health needs.
Terumo Corporation presents an extensive portfolio of medical devices, focusing on interventional systems, vascular grafts, and infusion systems. Their offerings cater to various medical specialties, ensuring advanced healthcare solutions with a commitment to patient well-being.
Koninklijke Philips N.V. shows a comprehensive product line encompassing healthcare equipment and solutions. Their portfolio includes diagnostic imaging systems, patient monitoring devices, and healthcare informatics, emphasizing innovation and improved patient outcomes in the medical industry.
Drug Eluting Balloon Market: Key Segments By Product
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