Peripheral artery disease is an abnormality that restricts the blood flow of arteries to the arms, stomach, and commonly, legs. Deposition of fatty substances on the wall of the arteries thickens them and restricts blood flow. Symptoms of peripheral artery disease include numbness in the legs, pain, and others.
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The incidence of peripheral artery disease has been growing rapidly worldwide. Patients often prefer revascularization as it is a better treatment approach. Surgical revascularizations and surgical grafting have been carried out for a long time. The trend of revascularizations has increased for patients who are unfit for surgery. The use of drug eluting balloons for revascularization therapy for the treatment of peripheral artery diseases represents an emerging trend around the globe.
A drug eluting balloon is a semi-compliant angioplasty balloon that is surrounded by an anti-proliferative medicine. The medicine is ejected to the vessel wall during the inflation of the balloon. The active substance of the balloon is highly lipophilic (dissolved in lipids or fats). The drug eluting balloon homogeneously delivers the drug to the vessel and provides treatment for peripheral artery disease.
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The global drug eluting balloon for peripheral artery disease market is primarily driven by a rise in the cases of peripheral artery disease in the world, diagnosis and treatment rate of peripheral artery diseases, and development of health care infrastructure. However, low availability of drug eluting balloons, high price of treatment, stringent regulatory landscape, and intellectual property rights laws are likely to hamper the growth of the global drug eluting balloon for peripheral artery diseases market in the near future. Technological advancements, increase in R&D investment, and major acquisitions among key players are estimated to provide attractive opportunities to the global drug eluting balloon for peripheral artery disease market during the forecast period.
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In terms of drug coating technology, the global drug eluting balloon for peripheral artery disease market can be segmented into paccocath, endurocoat, freepac, Tranxpax, and others. The others segment is anticipated to expand at a rapid CAGR during the forecast period, owing to the introduction of new drug eluting balloons across the world. Based on drug dose, the global drug eluting balloon for peripheral artery diseases market can be classified into 3 µg/mm2, 2 µg/mm2, and others. The 3 µg/mm2 segment is estimated to constitute a significant market share in 2017, followed by the 2 µg/mm2 and others segments. In terms of end-user, the global drug eluting balloon for peripheral artery disease market can be categorized into hospitals, ambulatory surgery centers, catheterization laboratories, and others. The ambulatory surgery centers segment is expected to expand at a rapid CAGR during the forecast period, due to the emergence of ambulatory surgery centers globally.
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Based on geography, the global drug eluting balloon for peripheral artery disease market can be classified into North America, Europe, Asia Pacific, Latin America, and others. North America accounted for a prominent share of the drug eluting balloon for peripheral artery disease market in 2017. The market in the region is estimated to expand at a significant growth rate in the near future. Europe held a key share of the drug eluting balloon for peripheral artery diseases market in Europe in 2017. However, the market share of the region is projected to decline in the coming years. Recent approvals of drug eluting balloons in North America are likely to represent noteworthy growth rate in future. Factors such as a large patient population, developing health care infrastructure, and technological advancements are expected to drive the drug eluting balloon for peripheral artery diseases market in Asia Pacific in the near future. However, low availability of drug eluting balloons, low product awareness, and weak health care infrastructure are projected to hamper the drug eluting balloon for peripheral artery disease market in Latin America and Middle East & Africa.
Key players operating in the global drug eluting balloon for peripheral artery disease market are Cook Medical, BD, Medtronic, Bayer AG, Eurocor, Cardionovum, and others.
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