The global Drug Eluting Balloon Market is estimated to be valued at US$ 667.78 Mn or Mn 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.

Market Overview:
Drug eluting balloons are medical devices used to inflate blocked arteries and deliver medication to prevent renarrowing of arteries. They are used to treat coronary artery disease and peripheral artery disease. Their use helps reduce need for repeated procedures.

Market key trends:
Rising geriatric population susceptible to cardiovascular diseases is a key trend influencing market growth. According to the World Health Organization, the number of people aged 65 years and above is projected to reach 1.5 billion by 2050 from 703 million in 2019. Additionally, growing preference for minimally invasive procedures over conventional angiography and angioplasty is also expected to drive the market. Drug-eluting balloons help avoid placement of metal stents and are associated with fewer side effects than alternative treatments.
SWOT Analysis
Strength: Drug eluting balloons offer a minimally invasive treatment option with the ability to deliver drugs locally to the site of stenosis. They reduce the need for multiple revascularization procedures and lower the risk of restenosis.
Weakness: Higher upfront costs associated with drug eluting balloons compared to plain old balloon angioplasty (POBA). Complex manufacturing process raises product costs.
Opportunity: Rising geriatric population suffering from cardiovascular diseases and diabetes provides growth opportunities. Increasing adoption in small vessel disease and peripheral artery disease indications.
Threats: Reimbursement challenges and availability of alternative treatment options like drug-coated balloons and stents pose challenges. Stringent regulatory approval process for new products.

Key Takeaways
The Global Drug Eluting Balloon Market Size  is expected to witness high growth, exhibiting a CAGR of 8.3% over the forecast period, due to increasing prevalence of cardiovascular diseases. North America is expected to hold the largest share in the global drug eluting balloon market due to growing elderly population, rising obesity rates, and increasing adoption of minimally invasive procedures in the region. The Asia Pacific region is anticipated to grow at the fastest rate due to rising healthcare expenditure and growing medical tourism industry in the region.

Key players operating in the drug eluting balloon market are 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. Manufacturers are focusing on new product launches and investing in R&D to consolidate their market position. For instance, Medtronic launched its IN.PACT AV drug-coated balloon for treating artery disease in below-the-knee regions in January 2021.

For more details on the report,  Read- https://makuv.com/rising-incidences-of-cardiovascular-diseases-to-augment-growth-of-the-global-drug-eluting-balloon-market/