Market Trends of Angioplasty Balloons Industry
Drug-eluting Balloons Segment is Expected to Witness Significant Growth Over the Forecast Period
The drug-eluting balloon is a non-stent device that uses an inflated balloon to distribute antiproliferative medicines efficiently and uniformly to the endothelial vessel wall. This ensures the artery is transparent and comprehensive and maintains optimum blood flow. The drug-eluting balloon segmental growth is attributed to peripheral and coronary artery disease's growing prevalence. For instance, according to the American Heart Association 2021 report, peripheral artery disease (PAD) affects more than 200 million people worldwide and is associated with high mortality and morbidity.
Moreover, the increasing geriatric population, which is prone to cardiovascular diseases, are projected to bolster market growth. For instance, according to the research study published in December 2021, by Elsevier, for older people aged 45 and above, the overall self-reported prevalence of diagnosed cardiovascular diseases (CVDs) was 29.4%. The prevalence rate increased with age, from 22% in the 45-54 age group to 38% in the 70+ age group, showing that the senior population is at high risk of having CVDs. Such prevalence of various cardiovascular conditions is expected to drive the demand for drug-eluting balloons as they are used to deliver medication directly to the site of the blood vessel blockage, enhancing the effectiveness of the treatment and reducing the risk of restenosis, thereby helping in the recovery of affected patients.
Companies are introducing new, more sophisticated drug-eluting balloons due to the high demand, which are anticipated to significantly support the segment's growth. For instance, in October 2022, Cordis acquired MedAlliance to serve two million patients globally by 2027 with the SELUTION SLR (Sustained Limus Release) drug-eluting balloon. The agreement includes an initial investment of USD 35 million and USD 200 million payment upon closing in 2023, regulatory achievement milestones up to USD 125 million, and commercial milestones up to USD 775 million through 2029.
Thus, owing to the factors such as the increasing incidence of cardiovascular conditions and company initiatives, the drug-eluting balloons segment is expected to register healthy growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold significant market growth throughout the forecast period due to the increase in the incidence of multiple cardiovascular diseases such as atherosclerosis and peripheral arterial disease and the presence of robust healthcare infrastructure. For instance, according to the Journal of the American College of Cardiology published in February 2023, the incidence rate of atherosclerotic cardiovascular disease per 1,000 person-years was 2.60 among those with raised 10-year predicted risk, 1.87 in those with low 10-year but elevated 30-year predicted risk and 0.32 in those with low 10-year and 30-year predicted risk. Similarly, according to an article published by Clinical Cardiology, in September 2021, the five years prevalence of Atherosclerotic cardiovascular disease in Alberta, Canada, was 89.9 per 1000 persons, or 8.99%. Furthermore, according to the American Heart Association update, in June 2021, the prevalence of peripheral arterial disease in the United States is estimated to be 7%, impacting 8.5 million persons. Also, the above source in June 2022 stated that, in Mexico, 56.1% of adults have high levels of LDL-C or bad cholesterol, considered the leading risk factor for cardiovascular disease and cause of atherosclerotic cardiovascular disease. Thus, with the high burden of cardiovascular disease, the demand for angioplasty balloons is expected to increase, driving the market's growth.
Additionally, a few key market players in the region are developing novel products and technologies to compete with existing products, while others are acquiring and partnering with other companies trending in the market to increase the product footprint, thereby driving regional growth over the forecast period. For instance, in February 2023, Abbott acquired Cardiovascular Systems, Inc. (CSI). The acquisition of CSI added complementary technologies to Abbott's leading vascular device offerings, including atherectomy devices. Procedural use of atherectomy helps maximise the benefits of standard balloon angioplasty or stent treatments in restoring blood flow in complex arterial disease.
Thus, owing to the factors such as the incidence of multiple cardiovascular diseases and developments by key market players, the market studied is anticipated to witness steady growth in the North American region over the forecast period.
