North America to bank on Extensive research in the Peripheral Drug Eluting Balloon market from 2020 to 2030
Peripheral drug eluting balloon or peripheral drug coated balloon is the angioplasty balloon, used for the treatment of peripheral vascular diseases. Peripheral drug eluting balloon is covered with lipophilic anti-proliferative drugs. When the drug eluting balloon reaches the vessel, during inflation of the balloon the drugs are released into the vessel wall. These drugs are released at a minimum inflation time and nominal pressure. Because of the lipophilic nature of the active substance on the peripheral drug eluting balloon, the drugs are absorbed at a minimal time to the vessel wall. The drug eluting balloon is used in re-stenotic lesions to treat luminal loss and neointimal hyperplasia. Peripheral drug eluting balloon procedure is an advantageous option for the treatment of peripheral vascular diseases or peripheral artery disease. The major disadvantage of stenting or percutaneous transluminal balloon angioplasty is the occurrence of restenosis. The peripheral drug eluting balloon inhibits the growth of neointimal hyperplasia and luminal loss.
The growing prevalence of peripheral artery diseases (PAD) is one of the major reason for the growth of Peripheral Drug Eluting Balloon Market. Peripheral artery disease is primarily caused by the buildup of fatty plaque in arteries. Rise in the number of peripheral artery disease cases, i.e., approximately 20% of adults 55 years of age and older, owing to change in lifestyle habits, smoking, pollution, and other factors contribute to the growth of the Peripheral Drug Eluting Balloon market for peripheral drug eluting balloon. More focus on the prevention and treatment of peripheral artery disease in low- and middle-income economies is expected to drive the growth of the market for peripheral drug eluting balloon. The increasing prevalence of peripheral artery disease is fuelling the demand for peripheral drug eluting balloon market.
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According to CDC, approximately 8.5 million people in the U.S. suffer from PAD, including 12–20% of individuals older than age 60. This increasing prevalence of peripheral artery diseases and growing healthcare expenditure in lower-middle income countries is projected to boost the growth of the global peripheral drug eluting balloon market over the forecast period.
The increasing graying population is prone to PAD. PAD prevalence is age-related and according to the American Heart Association, Inc., the prevalence of PAD is rising by more than 10% in the patients in their 60 and 70 years of age. According to the Population Reference Bureau, (2016), the American population aged 65 and more are expected to be more than double to over 98 million by 2016 from 46 million. The rise in geriatric population is expected to positively influence the market of peripheral drug eluting balloon.
Increase in smoking, alcohol consumption, genetic disorder, and lifestyle changes are the major factor behind the growth in PAD cases and also contributing factor for the growth of the peripheral drug eluting balloon market.
Peripheral vascular intervention is an effective treatment for patients with peripheral artery disease and modification in reimbursement policies encourage the number of outpatients in developed countries. Reimbursement policies and government initiatives towards the peripheral drug eluting balloon procedure in middle- and low-income economies are also expected to boost the growth of the peripheral drug eluting balloon market for peripheral drug eluting balloon over the forecast period.
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To gain a comprehensive and better understanding of the future market equity, the Peripheral Drug Eluting Balloon Market is segmented based on the type of lesions and region.
Based on the type of lesions, the Peripheral Drug Eluting Balloon Market is segmented into:
- Peripheral Drug Eluting Balloon for superficial femoral artery
- Peripheral Drug Eluting Balloon for popliteal lesions
- Peripheral Drug Eluting Balloon for infra-popliteal lesions
- Peripheral Drug Eluting Balloon for in-stent restenosis
Rise in geriatric population and the rising awareness is the major reason for the significant growth of peripheral drug eluting market in the North American region. European countries and the Asia Pacific countries are expected to witness lucrative market growth owing to increasing demand for healthcare services. On the contrary, due to substandard healthcare infrastructure, the countries in the MEA region is expected to witness moderate growth in breast brachytherapy market.
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Examples of some of the key participants in the Peripheral Drug Eluting Balloon Market identified across the value chain include Biotronik, iVascular, EuroCor, Spectranetics, Minvasys, Cardionovum, Medtronic Plc., and Boston Scientific.
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