Global Drug-Eluting Balloon Market In Depth Analysis till 2027 Recent Developments, Key Facts, Financial Overview, Business Description and Product Portfolio
Global Drug-Eluting Balloon Market is witnessing tremendous growth momentum due to significantly rising vascular disease incidences, growing product innovations and launches, rising geriatric population. The Report discusses such key market driving factors along with key opportunities and current trends.
The Global Drug-Eluting Balloon Market is expected to reach US$ 1,870.60 Million in 2027 from US$ 516.65 Million in 2018. The market is estimated to grow with a CAGR of 15.6% from 2019-2027.
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The key factors accounting for the growth of market include significant increase in vascular disease incidences, growing product innovations and rising geriatric population. Whereas, the market is expected to have slow growth due to high cost of procedures and products and stringent regulations for approval during the forecast period.
The drug-eluting balloon market comprises various market leaders and emerging players. Medtronic plc, Boston Scientific Corporation, Cook Medical, and Royal Philips (a part of Koninklijke Philips N.V) are among the market leaders, while there are various emerging players operating in the market. These companies are engaged in the constant development of various medical devices. They have developed these products further to ensure their sustenance in the global market.
For instance, in November 2019, Medtronic received the US Food and Drug Administration (FDA) approval for its In. Pact AV drug-coated balloon used in the treatment of failing arteriovenous (AV) access in patients suffering from end-stage renal disease (ESRD), undergoing dialysis. Similarly, Royal Philips has launched two new balloons to its Stellarex portfolio of 0.035-inch, low-dose, drug-coated balloons; the additions include 200mm and 150mm Stellarex 0.035-inch low-dose drug-coated balloons. The products have received FDA approval for the treatment of de novo and restenotic lesions in native superficial femoral or popliteal arteries in upper legs.
Such launches of innovative products by market leaders and new players are driving the growth of the drug-eluting balloon market. This is mainly attributed to the fact that these products have expanded treatment options for physicians to treat peripheral artery diseases (PADs), cardiovascular conditions, and renal artery conditions, and so on.
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The drug-eluting balloon market is segmented on the basis of product type, and end user. The market based on product type segment is classified as coronary drug eluting balloons, peripheral drug eluting balloons and other product types. Based on end user the market is segmented as hospitals, cath labs & cardiac centers, and ambulatory surgical centers.
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