Drug eluting balloons are medical devices that deliver therapeutic drug doses to tissues locally during angioplasty procedures. They are coated with an anti-proliferative drug and slowly release the drug into the artery walls to prevent renarrowing. These balloons are used to treat narrowed or blocked arteries caused by coronary artery disease or peripheral artery disease. The advantages of drug eluting balloons over bare metal stents are that they require lower doses of drugs, provide instant drug delivery, do not leave behind a permanent implant, and reduce risk of thrombosis. The need for such products is growing due to the rising incidence of cardiovascular diseases worldwide which are leading cause of mortality. The global Drug Eluting Balloon Market is estimated to be valued at US$ 769.29 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key Trends:
One of the key trends in the Drug Eluting Balloon Market Share is the development of novel drug delivery technologies. Vendors are focusing on developing novel coatings and drug formulations to improve drug transfer and efficiency of drug eluting balloons. For instance, Medtronic is developing a balloons coated with paclitaxel crystals instead of a polymer coating. This is expected to achieve higher drug transfer rates and reduce risks of coating issues. Similarly, Bayer is developing drug coated balloons using the Sienna+ drug transfer technology claims to achieve high drug levels in tissues with very low systemic drug absorption. Such innovative drug delivery technologies are expected to drive the growth of drug eluting balloon market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as there are high costs associated with R&D, clinical trials, manufacturing and marketing of drug eluting balloons.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are several manufacturers competing in the market providing options to buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitutes and less differentiation in raw materials required for manufacturing drug eluting balloons.
Threat of new substitutes: The threat of new substitutes is high as stents remain a cheaper alternative for treating vascular diseases.
Competitive rivalry: The competitive rivalry is high among existing players due to increasing product differentiation and expanding geographic presence.
Key Takeaways
The global drug eluting balloon market is expected to witness high growth over the forecast period of 2024 to 2031.
Regional analysis:
North America dominates the drug eluting balloon market due to presence of major players and advanced healthcare infrastructure. The Asia Pacific region is poised to grow at the fastest rate during the forecast period due to rising medical tourism, healthcare reforms and increasing disposable incomes in countries like China and India.
Key players:
Key players operating in the Drug Eluting Balloon market are Oracle Corporation (NetSuite Inc.), BatchMaster Software, Columbus Manufacturing, Aquilon Software, CompuTec S.A.(ProcessForce), Datacor Chempax, DESKERA, ERPAG, Fishbowl, Intellect, SAGE GROUP plc, and VAI – Vormittag Associates, Inc. Oracle Corporation (NetSuite Inc.) is one of the leading players providing end-to-end supply chain solutions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Vaagisha Singh
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. LinkedIn