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The North American market generated USD 256.9 million in 2021. The region's market dominance is to blame for the increase in heart disease cases and the increased attention given by industry players to new product launches in the area.
In 2021, themarket for drug-eluting balloon catheterswas estimated to be worth USD 529.4 million. The market is anticipated to expand at a CAGR of 8.9% from 2022 to 2029, from USD 615.2 million to USD 1,119.4 million. Compared to pre-pandemic levels, demand for drug-eluting balloon catheters has been lower than expected across all regions due to the unprecedented and staggering COVID-19 pandemic. Our analysis showed that the global market experienced a drop of -13.7% in 2020 compared to 2019.
Key Industry Development
August 2022:To investigate the safety and effectiveness of peripheral sirolimus drug-coated balloons, BD recently announced the beginning of the first-in-human prevision trial. The study's objective was to evaluate sirolimus' potential as a future therapeutic option for people with Peripheral Vascular Disease (PAD).
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Driving Factors
Greater Efficiency Related to Drug-eluting Balloon Catheters Over Drug-eluting Stents to Surge Demand for these Catheters
Through minimally invasive surgery, drug-eluting balloon catheters release an anti-proliferative medication directly into the vascular wall without the use of stents. The use of these devices is a strategy that shows promise for the treatment of coronary artery disease.
Numerous studies have demonstrated the benefits of using these catheters for angioplasty in the treatment of conditions such as in-stent restenosis, high bleeding risk, and small-vessel disease.
Segments
Launch of Paclitaxel-coated Balloon Catheter Products in the Market to Fuel the Segment’s Growth
Based on drugs, the market is segregated into paclitaxel, sirolimus, and others. The paclitaxel segment generated the highest revenue in 2021 and is expected to grow at a moderate CAGR during the forecast period.
Strong Presence of the Drug-coated Balloon Catheters for Peripheral Indication to Boost the Segment’s Growth
Based on indication, the market is classified into coronary intervention and peripheral intervention. The peripheral segment generated the highest revenue in 2021 and is expected to grow at a substantial CAGR during the forecast period.
Increased Preference of Patients to Visit Hospitals for Angioplasty Procedures to Fuel Segment’s Growth
Based on end-user, the market is categorized into hospitals and Ambulatory Surgical Centers (ASCs) and speciality clinics and catheterization laboratories.
The hospitals and ASCs segment accounted for a significant share of the market in 2021.
Geographically, the market is segregated into North America, Europe, Asia Pacific, and the Rest of the World.
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Regional Insights
North America to Lead Backed by New Launches by Key Players
The North American market generated a revenue of USD 256.9 million in 2021. Heart disease is becoming more common in the region, and market participants are putting more of a priority on new product launches there, which is why the market is dominant.
Having held a sizeable portion of the market in 2021, Europe's drug-eluting balloon catheters market share is anticipated to expand significantly in the next few years.
In the study period, the CAGR for the market in the Asia Pacific region is anticipated to be the fastest. A growing patient population's demand for minimally invasive procedures and the rising incidence of peripheral artery disease in the area are factors attributed to the region's high rate of market growth.
Competitive Landscape
Innovative Product Launch Announcement by Key Players to Bolster Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
List of Key Players Covered in the Report
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