Inclusion Criteria:  ≥ 19 years and ≤ 85 years of age Documented ischemia with Rutherford classification 2, 3, 4 or 5 Target lesion is in the SFA and/or PPA Reference vessel diameter ≥ 4 mm and ≤ 7 mm by visual estimate  Angiographic evidence that target lesion consists of a single de novo or non-stented restenotic lesion;  70% - 99% occluded with total lesion length ≥ 40 mm and ≤ 300 mm 100% occluded with total lesion length ≤ 100 mm Combination lesions (a non-occlusive lesion that includes a totally occluded segment along its length) are eligible provided that (1) the combined lesion length is ≥ 40 mm and ≤ 300 mm and (2) the totally occluded segment is not greater than 100 mm in length. Tandem or adjacent lesions are treated as a single lesion, the gap between the lesions is ≤ 30 mm, and the total combined lesion length including the distance between the lesions is ≥ 40 mm and ≤ 300 mm  Exclusion Criteria:  Stroke or STEMI within 3 months prior to enrollment Acute thrombosis or acute aneurysm in the target lesion History of or planning to have a major amputation in the leg Failure to successfully cross the target lesion with a guidewire Poor distal run-off artery to the ankle or lower Known allergies or sensitivities to paclitaxel, shellac, vitamin E, heparin, aspirin, other anticoagulant/antiplatelet therapies or contrast agent  Target lesion is one of the following;  In-stent restenosis (ISR) Restenosis after DCB procedure Previously treated with bypass surgery Severe concentric calcified lesions on angiography where pre-dilation cannot be performed or failed, and the procedure for the device for clinical trials is inadequate Those who need stenting due to vascular dissection that restricts blood flow of Grade D or higher after pre-dilation Any major (e.g., cardiac, peripheral, abdominal) intervention (including in the contralateral SFA/PPA) planned within 30 days post index procedure Life expectancy, in the Investigator's opinion, is less than 12 months Chronic renal insufficiency with serum creatinine > 2.5 mg/dL