The global drug-coated balloon (DCB) catheter market is set to witness robust growth, with a projected Compound Annual Growth Rate (CAGR) of 7% during the assessment period from 2023 to 2030. By the end of this decade, the market is expected to exceed a valuation of US$1 billion.
Market Analysis Highlights
The steady ascent of the DCB catheter market can be attributed to several key factors. The increasing demand for minimally invasive procedures and continuous innovations in drug-coated and drug-eluting balloons are expected to be primary drivers of market growth. With the elderly population becoming more susceptible to conditions such as peripheral and cardiovascular abnormalities, DCB catheters offer a valuable treatment option, contributing significantly to the expansion of their usage. The markets growth has also been accelerated by the introduction of cutting-edge products and surgical techniques, which have improved life expectancy and diagnostic procedures among the elderly demographic. Leading players in the industry are actively involved in developing cost-effective, precise, and efficient drug-eluting/drug-coated balloon catheters to enhance medication delivery, further fueling market expansion during the projection period.
Key Findings
- The drug-coated balloon catheter market is expected to experience significant revenue growth between 2023 and 2030.
- Hospitals dominate the market share due to their advanced healthcare infrastructure, experienced interventional cardiologists, and high patient volume seeking cardiovascular treatments.
- Peripheral vascular disease holds the major market share, driven by its high prevalence and the effectiveness of drug-coated balloon catheters in treating the condition.
- North America continues to lead the way, while Asia Pacifics drug-coated balloon catheter market experiences the strongest growth through 2030.
Growth Drivers
Growing Occurrence of Cardiovascular Disorders
The rise in cardiovascular disorders globally has been a driving force behind the growth of the DCB catheter market. Cardiovascular disorders, including coronary and peripheral artery disease, have become significant global health concerns. These conditions often result in the development of arterial plaque and narrowing of blood vessels, necessitating effective treatment options to restore blood flow and prevent complications.
Drug-coated balloon catheters offer a promising solution designed to deliver drugs directly to diseased arterial walls during angioplasty procedures. They release medication that helps prevent restenosis and further plaque formation, reducing the need for repeat procedures and improving patient outcomes.
Increasing Demand for Minimally Invasive Procedures
The rising demand for minimally invasive procedures has played a pivotal role in the growth of the DCB catheter market. These catheters align perfectly with this demand, offering a minimally invasive approach to treating cardiovascular disorders. They can be inserted through a small incision and deliver medication directly to arterial walls during angioplasty, enhancing treatment efficacy and patient outcomes.
Growth Challenges
Potential Risks Related to Catheterization Procedures
While catheterization procedures, including angioplasty with drug-coated balloon catheters, are generally considered minimally invasive, they are not without risks. Patients may experience complications such as bleeding, infection, or vascular damage during the procedure, which can deter both patients and healthcare providers from choosing catheter-based treatments.
Overview of Key Segments
Hospitals Consume the Largest Share of Market
Hospitals play a pivotal role in the DCB catheter market, given their advanced healthcare infrastructure and experienced interventional cardiologists. They are hubs for medical advancements, research, and clinical trials, further promoting the use of drug-coated balloon catheters. Hospitals also benefit from established referral networks and collaborations with other healthcare providers, facilitating the adoption of these catheters.
Peripheral Vascular Disease Dominant
Peripheral vascular disease has captured the largest market share due to its prevalence and the effectiveness of drug-coated balloon catheters in treating it. Patients with PVD often experience pain, cramping, and mobility issues, making drug-coated balloon catheters a preferred choice for treatment.
Growth Opportunities Across Regions
North America’s Lead Intact
North America leads the DCB catheter market due to high disease prevalence, advanced healthcare infrastructure, favorable reimbursement policies, and a focus on research and clinical trials. As cardiovascular diseases remain significant health challenges, the demand for minimally invasive treatment options is expected to continue driving market growth.
Asia Pacific Sets a Lucrative Market
Asia Pacific is experiencing the fastest CAGR in the DCB catheter market due to lifestyle changes, urbanization, and an ageing population. Improved healthcare infrastructure and supportive regulatory policies are encouraging the adoption of innovative medical technologies, including drug-coated balloon catheters.
Competitive Landscape
Leading players in the DCB catheter market include Medtronic plc, Bayer AG, B. Braun SE, Koninklijke Philips N.V., Eurocor GmbH, Biosensors International Group, Boston Scientific Corporation, iVascular, Aachen Resonance GmbH, BIOTRONIK, Cardionovum GmbH, Caliber Therapeutics, Biosensors International, MedAlliance, Concept Medical, Inc., and Lepu Medical Technology (Beijing) Co., Ltd.
Global Drug-Coated Balloon Catheters Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 -(By Drug Coverage, By Application Coverage, By End User Coverage, By Geographic Coverage and Leading Companies) https://www.fairfieldmarketresearch.com/report/drug-coated-balloon-catheter-market
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This press release first seen on Brilad
COMTEX_440910117/2840/2023-09-25T13:12:30
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