(MENAFN - Market Research HUB) Drug eluting balloon catheter is witnessing robust adoption owing to its overwhelming results in cardiovascular and peripheral artery procedures. Moreover, drug eluting balloon catheter is also turning out to be useful for patients who are unable to undergo percutaneous coronary intervention (PCI) procedures. Encouraged by this situation, various drug eluting balloon catheter manufacturers across the globe are now increasing their production capacity. The aforementioned factors are reflecting favourably on the global sales of the drug eluting balloon catheter. Also, companies are aiming to manufacture cost-effective catheters that in order to increase market penetration. Growing prevalence of cardiovascular diseases and soaring incidences of cardiology intervention procedures is facilitating the growth of the global drug eluting balloon catheter market. Fact.MR projects that the global market for drug eluting balloon catheter will surge at a robust CAGR between 2018 and 2022. In addition, factors such as enhanced reimbursement policies, rising geriatric population and growing healthcare expenditure are anticipated to positively impact the market’s growth. The arrival of new-generation drug eluting balloon catheters as well as heavier investments in R&D pipelines in order to increase its utility is also anticipate to create lucrative growth opportunities for manufacturers and stakeholder in the global market for drug eluting balloon catheter.
Key Insights From the Report Include:
Among regions, Europe will retain its dominant position in the market over the forecast period. Between 2017 and 2022, the drug eluting balloon catheter market in Europe will reflect a CAGR of 20.5%. Meanwhile, the Asia-Pacific excluding Japan (APEJ) market will also witness a robust growth over the next couple of years.
By indication, drug eluting balloon catheter will be used mostly for treating coronary artery disease. Currently, coronary artery disease indication segment will command for more than two-third revenue share of the global market.
Hospitals will remain the largest end user of drug eluting balloon catheter in 2017 and 2022. Sales of drug eluting balloon catheter currently commands for close to 73% market share in terms of revenue. Hospitals are one of the most preferred medical settings for undertaking coronary artery and restenosis procedures.
By raw material, demand nylon based drug eluting balloon catheter will continue to gain traction over the assessment period. Currently, sales of nylon based drug eluting balloon catheter account for close to 54.1% revenue share of the global market. Towards to the end of 2022, more than US$ 244 Mn worth nylon drug eluting balloon catheters are expected to be sold worldwide.
Fact.MR’s report has also mentioned some of the key players functioning in the global market for drug eluting balloon catheter, which include Medtronic Plc., Cook Medical INC, Abbott Laboratories, Jotech GmbH, Terumo Corporation, Tokai Medical Products Inc., B. Braun Melsungen AG, Cardionovum GmbH, Cordis Corporation, Meril Life Sciences Pvt Ltd, MicroPort Scientific Corporation, Boston Scientific Corporation, and BIOTRONIK SE & Co. KG.
For more insights, Visit- https://www.factmr.com/report/146/drug-eluting-balloon-catheter-market