Drug eluting balloon market is estimated to be valued at USD 713.9 Mn in 2024, and is expected to exhibit a CAGR of 8.6% over the forecast period (2024-2031). Drug eluting balloon is gaining popularity in cardiovascular interventions such as coronary angioplasty, infrapopliteal angioplasty, infrapopliteal revascularization. Furthermore, rising geriatric population prone to cardiovascular disorders is expected to drive the market growth.
Market Dynamics:
Global drug eluting balloon market growth is driven by increasing incidence of cardiovascular diseases and ageing population globally. One of the key drivers is rising prevalence of coronary artery diseases. According to WHO, cardiovascular diseases account for over 17.9 million deaths annually, and this number is expected to grow to over 23.6 million by 2030. Geriatric population is also susceptible to heart ailments due to age-related physiological changes, and thus, boosts demand for drug eluting balloons in interventional cardiology procedures. Rising healthcare expenditure and availability of reimbursement for cardiovascular procedures in developed nations are expected to drive the market growth during the forecast period.
Increasing prevalence of cardiovascular diseases
Cardiovascular diseases (CVDs) have emerged as one of the major causes of mortality and morbidity worldwide. According to the World Health Organization (WHO), over 17 million people die from cardiovascular diseases every year. Some key factors contributing to rising prevalence of CVDs include sedentary lifestyles, obesity, smoking, and an aging population. Growing number of patients suffering from atherosclerosis, peripheral artery disease, and other cardiovascular conditions boosts demand for minimally invasive treatments such as drug eluting balloons.
Growing geriatric population
Risk factors for CVDs such as hypertension, hypercholesterolemia, and diabetes tend to increase with age. The proportion of elderly people aged 65 years and above is growing at a faster rate globally. By 2050, over 16% of the world's population will be aged 65 years and above. Elderly people are more prone to atherosclerosis and other age-related cardiovascular disorders. This ageing demographic profile creates a high unmet need for safer and effective treatments for CVDs, thus, driving the drug eluting balloon market growth.
High cost of drug eluting balloons
Drug eluting balloons are significantly more expensive than conventional plain old balloon angioplasty (POBA). While these help to reduce target lesion revascularization rates and medical costs over the long term, their higher upfront device prices pose affordability challenges, especially in developing markets. This cost factor inhibits widespread adoption of the technology .
Reimbursement Issues
Reimbursement policies for drug eluting balloons vary greatly across countries and regions. While the technology has gained coverage in developed markets like the U.S. and Europe, availability of public or private reimbursements in many developing nations remains limited. This makes drug eluting balloons unaffordable for a large patient pool globally and hampers the market growth.
Link:https://www.coherentmarketinsights.com/market-insight/drug-eluting-balloon-market-2459
Key Development
- On March 1, 2024, Boston Scientific Corporation, a medical device company, announced that the U.S. Food and Drug Administration had approved the AGENT Drug-Coated Balloon (DCB), which is indicated to treat coronary in-stent restenosis (ISR) in patients with coronary artery disease.
- In January 2023, Med Alliance SA, a medical technology company, announced that it had received conditional U.S. FDA investigational device exemption (IDE), for its novel sirolimus-eluting balloon
- In September 2022, Advanced NanoTherapies, Inc., a privately-held medical device company, announced that the U.S. Food and Drug Administration had granted the company a Breakthrough Device designation for its SirPlux Duo Drug-Coated Balloon (DCB) for coronary artery disease in vessels less than 3.0mm
- In July 2021, Medtronic, a medical device company, launched Prevail drug coated balloon (DCB) Catheter in Europe, following CE (Conformité Européene) mark. It is designed to treat complex lesions with superior deliverability, rapid absorption of paclitaxel.
Key Players: Boston Scientific Corporation, BD, Terumo Corporation, Medtronic, B. Braun SE, Surmodics, Inc., Biotronik, Cook Medical, Opto Circuits (India) Limited, Lepu Medical Technology, Cardionovum GmbH, Shanghai MicroPort Medical (Group) Co., Ltd., Wellinq, Philips Healthcare, Biosensors International Group, Ltd.
