Emerging Trends and Rising Demand: Peripheral Drug Eluting Balloons Market Set to Surpass US$ 7.6 Billion by 2033, Persistence Market Research
Market Study on Peripheral Drug Eluting Balloons: Paclitaxel Drug Coating Accounts for Close to 50% Market Share
New York, May 23, 2023 (GLOBE NEWSWIRE) -- Favorable reimbursement policies available in several countries and growing need for innovation in peripheral vascular disease treatment have led the global *peripheral drug eluting balloons market* to reach US$ 808.2 million in 2022. The market has been projected by Persistence Market Research to expand swiftly at a CAGR of 8.6% over the forecast period (2023 to 2033).
Peripheral drug eluting balloons (DEBs) are medical devices used in the treatment of peripheral artery disease (PAD). They are a specialized type of balloon catheter that combines balloon angioplasty with the controlled release of an antiproliferative drug. The primary purpose of peripheral DEBs is to open narrowed or blocked arteries and deliver medication directly to the site of the arterial lesion. They are designed to treat atherosclerosis, a condition characterized by the build-up of plaque within the arteries that results in reduced blood flow.
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Minimally-invasive techniques have become an integral part of treatment and are a widely accepted endovascular option, creating an extensive opportunity for the treatment of peripheral arterial disease. As the number of endovascular interventions increases, decrease in the risk associated with the procedure has created a favorable situation for the treatment of peripheral vascular disease, both for the provider and payer, creating strong market opportunities.
*Key Takeaways from Market Study*
· The global peripheral drug eluting balloons market is forecasted to reach *US$ 1.9 **billion* by the end of 2033.
· Paclitaxel drug coating held a market share of *47.8%* in 2022.
· Peripheral arterial disease accounted for a share of *37.8%* in 2022.
· Treatment of iliac arteries held a share of *48%* in the global market in 2022.
· By end user, hospitals led with a market share of *60.5%* in 2022.
· North America dominated the global market with the United States reaching a market value of *US$ 292.4 million* in 2022.
*“Rising minimally-invasive techniques and increasing product developments by the manufacturers will boost the overall market for peripheral drug eluting balloons over the forecast period,” *says an analyst of Persistence Market Research.
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*Market Competition*
In response to growing competition and rising consumer expectations, manufacturers are undertaking initiatives such as increasing their research and development expenditure via acquisitions and collaborations to develop low-cost products.
*The key players include* Abbott Laboratories, Boston Scientific Corporation, Cook Medical Inc., MicroPort Scientific Corporation (Endovastec™), Medtronic Plc., Cardinal Health, Inc., B. Braun Melsungen AG, BIOTRONIK SE & Co. KG, Becton, Dickinson and Company, W. L. Gore & Associates Inc., Getinge AB, Terumo Corp, Kyoto Medical Planning Co Ltd, iVascular S.L.U, AMG International GmbH, ENDOCOR GmbH, Meril Life Sciences Pvt. Ltd., Nano Therapeutics Pvt Ltd, Koninklijke Philips N.V., REVA Medical
*Recent Developments*
· *In September 2021*, Abbott Laboratories expanded its peripheral vascular offerings by acquiring Walk Vascular LLC., a commercial-stage med-device company
· *EASTERSEALS and ABBOTT collaborated in June 2022* to advance high-quality education and health equity. Abbott Fund, foundation of the global healthcare company Abbott, is set pilot the three-year project on 'Education and Community Health Equity'. The project is aimed at addressing the barriers to education and healthcare by families in underinvested communities.
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*What Does the Report Cover?*
Persistence Market Research offers a unique perspective and actionable insights on the peripheral drug eluting balloons market in its latest study, presenting a historical demand assessment of 2012 to 2022 and projections for 2023 to 2033.
The research study is based on the drug coating (paclitaxel drug coating, sirolimus drug coating, others), indication (peripheral arterial disease, peripheral aneurysms, in-stent restenosis, others), artery type (carotid arteries, fem-pop arteries, iliac arteries, infrapop arteries), and end user (hospitals, ambulatory surgical centers/outpatients, cardiac catheterization labs), across seven key regions of the world.
For additional insights on how the growth of the peripheral drug eluting balloons market will unfold over the decade, write to the analyst at *media@persistencemarketresearch.com*
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