Adoption of Drug Eluting Balloon Catheter to Surge Owing to the Increased In Demand for the Treatment of Coronary Artery Disease
Fact MR analysis of Drug Eluting Balloon Catheter market provides compelling insights into the factors propelling sales prospects in key segments such as Indication (Coronary Artery Disease,Peripheral Vascular Diseas), End User ( Hospitals,Ambulatory Surgical Centers,Cardiac Catheterization Laboratories), and Raw Material ( Polyurethan,Nylon). It provides an executive-level blueprint of key market players’ strategies and analyses their impact on overall growth projections.
Drug eluting balloon catheter is witnessing robust adoption owing to its overwhelming results in cardiovascular and peripheral artery procedures. Moreover, drug eluting balloon catheter is also turning out to be useful for patients who are unable to undergo percutaneous coronary intervention (PCI) procedures.
Encouraged by this situation, various drug eluting balloon catheter manufacturers across the globe are now increasing their production capacity. The aforementioned factors are reflecting favorably on the global sales of the drug eluting balloon catheter.
Also, companies are aiming to manufacture cost-effective catheters in order to increase market penetration. The growing prevalence of cardiovascular diseases and soaring incidences of cardiology intervention procedures is facilitating the growth of the global drug-eluting balloon catheter market.
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Improvement in Predictive Analytics Across Healthcare is Driving the Growth Of Drug Eluting Balloon Catheter Market
Increasing awareness regarding the individual’s health coupled with the ongoing advancement in healthcare infrastructures such as improvement in data science and predictive analytics are creating lucrative growth opportunities for the Drug Eluting Balloon Catheter market.
Fact.MR projects that the global market for drug eluting balloon catheter will surge at a robust CAGR between 2018 and 2022. In addition, factors such as enhanced reimbursement policies, rising geriatric population, and growing healthcare expenditure are anticipated to positively impact the market’s growth.
The arrival of new-generation drug eluting balloon catheters as well as heavier investments in R&D pipelines in order to increase its utility is also anticipated to create lucrative growth opportunities for manufacturers and stakeholders in the global market for drug eluting balloon catheters.
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Key Insights From the Report Include:
- Among regions, Europe will retain its dominant position in the market over the forecast period. Between 2017 and 2022, the drug eluting balloon catheter market in Europe will reflect a CAGR of 20.5%. Meanwhile, the Asia-Pacific excluding Japan (APEJ) market will also witness robust growth over the next couple of years.
- By indication, drug eluting balloon catheter will be used mostly for treating coronary artery disease. Currently, the coronary artery disease indication segment will command for more than two-third revenue share of the global market.
- Hospitals will remain the largest end-user of drug eluting balloon catheter in 2017 and 2022. Sales of drug eluting balloon catheter currently command for close to 73% market share in terms of revenue. Hospitals are one of the most preferred medical settings for undertaking coronary artery and restenosis procedures.
- By raw material, demand nylon-based drug eluting balloon catheter will continue to gain traction over the assessment period. Currently, sales of nylon-based drug eluting balloon catheter account for close to 54.1% revenue share of the global market. Towards the end of 2022, more than US$ 244 Mn worth of nylon drug eluting balloon catheters are expected to be sold worldwide.
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- Cardionovum GmbH
- Cook Medical INC
- Cordis Corporation
- Abbott Laboratories
- Meril Life Sciences Pvt Ltd
- Jotech GmbH
- MicroPort Scientific Corporation
- Terumo Corporation
- Boston Scientific Corporation
- Tokai Medical Products Inc.
- BIOTRONIK SE & Co. KG
- B. Braun Melsungen AG
- Medtronic Plc.
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