The healthcare vertical is working on getting the following 4 things by its side – access, affordability, efficiency, and quality. As such, the key participants in the Drug Eluting Balloons Market are investing in the replacement or optimization of workforce processes, technologies, and foundational structures, to dole out value-based and cost-effective solutions.
Coronary artery disease is a very common type of heart disease. It occurs when the arteries that supply blood to the heart muscle harden and become narrow owing to the buildup of cholesterol and other materials on their inner walls.
This results in insufficient blood and oxygen flow through the arteries to the heart muscle, hampering its normal functioning. This can lead to chest pain and heart attack. The major reason behind a heart attack is the sudden discontinuation of blood supply to the heart, which permanently damages the organ. Coronary artery diseases also weaken the heart muscle and contribute to heart failure and arrhythmias.
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Drug-eluting balloons play a vital role in the treatment of coronary artery disease. A drug-eluting balloon is an emerging device that optimizes clinical outcomes in coronary artery diseases. It becomes a viable alternative treatment option for the inhibition of coronary restenosis and subsequent revascularization through stent technologies.
The global drug-eluting balloons market is categorized on the basis of therapeutic application of this device in the treatment of various coronary artery diseases and peripheral artery diseases. Based on coronary artery diseases, the report covers in-stent restenosis, lesions in tortuous vessels, bifurcation lesions, and acute myocardial infarction. Based on peripheral artery diseases, the report comprises femoral/popliteal lesions and below knee lesions.
In terms of geography, North America dominates the global drug-eluting balloons market. This is due to increasing prevalence of coronary artery diseases in the region. The U.S. represents the largest market for drug-eluting balloons in North America, followed by Canada.
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In Europe, Germany, France, and the U.K. hold major shares of the drug-eluting balloons market. The drug-eluting balloons market in Asia is expected to show high growth rates in the next five years.
This is due to various initiatives undertaken by governments to increase awareness about therapeutic applications of drug-eluting balloons in coronary and peripheral artery diseases. In addition, aging population and increased investments by many foreign medical device companies have also propelled the growth of the drug-eluting balloons market in the region. India, China, and Japan are expected to be the fastest growing markets for drug-eluting balloons in Asia.
Elderly people are more susceptible to cardiovascular diseases compared to adults. According to UN reports_bk_01_01_2020, approximately 30% of the total population in China will comprise elderly people by 2050.
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Developing countries, such as India and China, are expected to have a larger geriatric population base compared to developed countries, such as the U.S. For instance, the number of people aged above 60 years is expected to reach 437 million in China and 324 million in India compared to 107 million in the U.S. by 2050.
Increasing aging population, rising obesity, and increasing prevalence of coronary artery diseases are key drivers for the global drug-eluting balloons market. Also, advanced applications of drug-eluting balloons and increased government support in the form of funding and research has fueled the growth of this market.
Increasing number of mergers and acquisitions of medical devices manufacturing companies and rapid product launches are key trends of the global drug-eluting balloons market.
The major companies operating in this market are B. Braun Melsungen AG, C.R. Bard, Inc., Aachen Resonance GmbH, Eurocor GmbH, Medtronic, Inc., and Cook Medical, Inc.
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