Drug Eluting Balloon Catheter Market Expectations & Growth Trends Highlighted until 2022
Drug eluting balloon catheter is an advanced medical device which has shown remarkable efficiency in carrying out various peripheral artery and cardiovascular procedures. A large number of companies are now shifting towards manufacturing of drug eluting balloon catheters as they are proving to be more efficient as compared to stenting or balloon angioplasty. In addition, drug eluting balloon catheter can also help in treating patients who do not benefit from percutaneous coronary intervention (PCI). Factors as such are expected to favour the global drug eluting balloon catheter market in the near future. Increasing number of patients with cardiovascular ailments and surging rate of cardiology intervention procedures is driving the demand for drug eluting balloon catheter. Manufacturers are also trying to develop low-cost devices, which will further boost its adoption over the next couple of years. As per the latest report publish by Fact.MR, the global drug eluting balloon catheter market is poised to grow reflect a staggering CAGR of 18.3% during the forecast period 2018 and 2022. At the same time, improved reimbursement support, increasing healthcare expenditure and growing geriatric population are some of the other additional factors likely to influence the growth of the market.
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Drug-eluting balloon (DEB), also known as drug-coated balloon (DCB) is one of the newest medical devices under the catheter segment. Drug-eluting balloon catheter is used in undertaking peripheral artery procedures, particularly to reduce the rate of restenosis. A drug-eluting balloon catheter is inserted into a narrowed, unhealthy coronary or peripheral artery that slowly releases a drug to restrict further cell proliferation.
Drug Eluting Balloon Catheter Market in Europe to Remain Highly Attractive
Europe is currently the largest market for drug eluting balloon catheter and is expected to continue its dominance throughout the assessment period. The market in the region is set to reflect a robust CAGR of 20.5% during the assessment period. Meanwhile, the market in Asia-Pacific excluding Japan (APEJ) will reflect the fastest CAGR and gain 452 BPS between 2017 and 2022.
By indication, the coronary artery disease will continue to hold its dominant position over 2022. The segment currently accounts for around 83% share of the market in terms of value. Towards the end of the forecast period, this segment is expected to surpass a market valuation of US$ 378 Mn in 2022, reflecting a robust CAGR.
By end user, the hospital segment is expected to retain its predominant position over the assessment period. In terms of revenue, the segment accounts for around 73% share of the market. By 2022-end, the hospital segment is expected to reach a market valuation of over US$ 333 Mn.
Hospitals will remain the largest end user of drug eluting balloon catheter in 2017 and 2022. Sales of drug eluting balloon catheter currently commands 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.
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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, and Medtronic Plc. are the leading companies profiled in Fact.MR’s report.