Growth of Drug Eluting Balloon Market
The global Drug Eluting Balloon Market is estimated to be valued at US$ 667.78 Mn or in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis:-
· Strengths: Drug-eluting balloons have better clinical outcomes and fewer complications compared to uncoated balloons. They offer advantages like reduced restenosis rates.
· Weaknesses: High cost of drug-eluting balloons limits their widespread adoption. Lack of long term safety and efficacy data.
· Opportunities: Rising geriatric population prone to cardiovascular diseases provides growth opportunities. Increasing R&D investments to expand indications.
· Threats: Stiff competition from drug-eluting stents. Potential risks of late stent thrombosis. Stringent regulatory approval process delays market entry of new players.
Key Takeaways:-
The Global Drug Eluting Balloon Market Size is expected to witness high growth, exhibiting CAGR of 8.3% over the forecast period, due to increasing prevalence of cardiovascular diseases.
Regional analysis: North America dominated the market in 2020 and is expected to maintain its lead over the forecast period. However, Asia Pacific is expected to witness fastest growth in the coming years driven by increasing healthcare spending and availability of low-cost treatment options.
Key players: 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. Medtronic dominated the market in 2020 with over 25% market share owing to its strong brand recognition and wide product portfolio.
Read More - https://www.trendingwebwire.com/drug-eluting-balloon-market-share-and-trends-analysis/
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