Global Drug Eluting Balloon Market, by Product Type (Coronary Drug Eluting Balloon, Peripheral Drug Eluting Balloon, and Others), by End User (Hospitals, CATH Laboratories, Ambulatory Surgery Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 616.6 Million in 2022 and is expected to exhibit a CAGR of 8.3% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Launch of novel drug eluting balloons by market players to augment the market growth key players in the market are focused on launching novel drug eluting balloons in order to treat coronary artery disease and other diseases and address the critical unmet needs of patients. For instance, in July 2017, Spectranetics Corp.( develops, manufactures, markets, and distributes its technology for interventional cardiovascular therapy), received pre-market approval (PMA) from the U.S. FDA for Stellarex drug coated balloon that is used for restoration and maintenance of blood flow to the superficial femoral and popliteal arteries in patients with peripheral arterial disease. For instance, in September 2021, Biotronik, Medical Device Company, announce the completion of enrolment of the investigator-initiated BIOPACT randomized controlled trial (RCT). This non-inferiority study evaluates the safety and efficacy of paclitaxel drug-coated balloons (DCBs), comparing the Biotronik Passeo-18 Lux paclitaxel-releasing percutaneous transluminal angioplasty (PTA) balloon catheter to the IN PACT Admiral paclitaxel-coated PTA balloon catheter (Medtronic).
Global Drug Eluting Balloon Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a negative impact on the global drug eluting balloon market, owing to decrease in surgical procedures during COVID-19 Pandemic. For instance, in December 2021, according to the National Centre for Biotechnology Information, millions of elective surgical procedures were cancelled worldwide during the first wave of the COVID-19 pandemic. This enabled redistribution of staff and resources to provide care for patients with COVID-19 and addressed evidence that perioperative SARS-CoV-2 infection increases postoperative mortality. The spread of COVID-19 has restricted the delivery of standard medical care to surgical patients dramatically. Surgical triage is performed by considering the type of disease, its severity, the urgency for surgery, and the condition of the patient, in addition to the scale of infectious outbreaks in the region. The purpose of this study was to evaluate the impact of the COVID-19 pandemic on the number of surgical procedures performed and whether the effects were more prominent during certain periods of widespread infection and in the affected regions. The numbers of most surgical procedures decreased in 2020 as a result of the COVID-19 pandemic; however, the precise impact of surgical triage on decrease in detection of disease warrants further investigation. The onset of COVID-19 caused some patients throughout the U.S. to delay their surgeries as many hospital systems postponed no emergent procedures. Surgical procedures require personal protective equipment such as masks, gloves and gowns. This equipment was in short supply right now and was desperately needed by health care providers in the hardest-hit areas caring for COVID-19 patients. Operating rooms have ventilators (breathing machines) that may be needed to support COVID-19 patients rather than being utilized for elective procedures.
Global Drug Eluting Balloon Market: Key Developments
On August 10, 2022, M.A. Med Alliance SA, medical technology company, MedAlliance’s novel sirolimus-eluting balloon, received conditional the U.S. Food and Drug Administration Investigational Device Exemption (IDE) approval to initiate its pivotal clinical trial for the treatment of occlusive disease of the superficial femoral artery (SFA).
In June 2022, Koninklijke Philips N.V., health technology company, announced positive three-year clinical research results from its Tack Optimized Balloon Angioplasty (TOBA) II below-the-knee (BTK) clinical trial. The latest results from the Tack Optimized Balloon Angioplasty (TOBA) II below-the-knee (BTK) clinical trial, demonstrating that the Philips endovascular system – Tack (4F) – the first and only device of its kind approved by the U.S. Food and Drug Administration (FDA), provides a sustained treatment effect and positive impact on quality of life for patients with critical limb ischemia (CLI), a severe stage of peripheral arterial disease (PAD), out to three years of clinical follow-up.
Browse 35 Market Data Tables and 28 Figures spread through 168 Pages and in-depth TOC on “Global Drug Eluting Balloon Market”- Forecast to 2030, Global Drug Eluting Balloon Market, by Product Type (Coronary Drug Eluting Balloon, Peripheral Drug Eluting Balloon, and Others), by End User (Hospitals, CATH Laboratories, Ambulatory Surgery Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/drug-eluting-balloon-market-2459
Moreover, increasing research and development activities to develop the superior drug eluting balloon is expected to drive the global drug eluting balloon market over the forecast period. For instance, in October 2021, Boston Scientific Corporation, biomedical company, announced positive data for the Eluvia Drug-Eluting Vascular Stent System (Eluvia stent) during a late-breaking clinical trial presentation at the Vascular InterVentional Advances (VIVA) meeting in Las Vegas. Data presented included one-year results from the EMINENT trial, which demonstrated superiority of the Eluvia stent compared to self-expanding bare metal stents (BMS) for the treatment of patients with peripheral artery disease (PAD) and superficial femoral artery (SFA) or popliteal artery (PPA) lesions up to 210 mm in length. The study enrolled 775 patients, making it the largest randomized trial of a drug-eluting stent for the treatment of PAD to date. In the trial, the Eluvia stent exhibited superiority with a primary patency rate of 85.4% versus 76.3% with BMS (p=0.0077).
Key Takeaways of the Global Drug Eluting Balloon Market:
- The global drug eluting balloon market is expected to exhibit a CAGR of 8.3% during the forecast period due to the increasing prevalence of coronary artery diseases, diabetes, and obesity, increased use of tobacco and smoking, and increasing geriatric population prone to cardiovascular diseases. For instance, according to the World Health Organization, an estimated 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. Out of the 17 million premature deaths (under the age of 70) due to non-communicable diseases in 2019, 38% were caused by Cardiovascular Diseases. People age 65 and older are much more likely than younger people to suffer a heart attack, to have a stroke, or to develop coronary heart disease (commonly called heart disease) and heart failure. Heart disease is also a major cause of disability, limiting the activity and eroding the quality of life of millions of older people. Furthermore, according to the World Health Organization, in September 2020, 9 million people die from tobacco-induced heart disease, according to a new brief by the World Health Organization, World Heart Federation and the University of Newcastle Australia ahead of World Heart Day, marked on 29 September. Smoking only about one cigarette per day carries a risk of developing coronary heart disease and stroke much greater than expected: around half that for people who smoke 20 per day.
- Among product type, the peripheral drug eluting balloon segment held a dominant position in the drug eluting balloon market in 2022. This is owing to the increasing use of drug eluting balloon in the treatment of peripheral artery disease as the treatment shows improved patency rate as compared to standard Percutaneous Transluminal Angioplasty (PTA) balloons.
- Among regions, North America is estimated to account for the largest market share in the global drug eluting balloon market over the forecast period, owing to the increasing prevalence cardiovascular disease in that region. For instance, in 2019, according to the World Health Organization, heart disease is the leading cause of death in the U.S. as well, causing approximately 647,000 deaths per year. According to American Heart Association, approximately 121.5 million U.S. adults have some form of cardiovascular disease.
- Major players operating in the global drug eluting balloon market include Medtronic, Becton, Dickinson and Company (BD), Boston Scientific Corporation, Cook Medical, B. Braun Melsungen AG, Koninklijke Philips N.V., Opto Circuits (India) Limited, Terumo Corporation, Surmodics, Inc., and Biotronik
