Drug eluting stents are tiny expandable mesh tubes composed of cobalt alloy metal or medical-grade stainless steel that are placed into the coronary arteries of atherosclerosis patients. Stents help to keep the artery open by releasing a medication that prevents arterial blockage and promotes blood flow in the artery.
Stents are typically utilized in operations such as coronary angioplasty. Drug-eluting stents are used to treat coronary artery disease and coronary angioplasty procedures such as percutaneous coronary interventions (PCI) and others. Drug eluting stents are made up of three parts: the drug, the stent platform, and the polymer coating (which keeps the drug inside the stent).
The global drug eluting stents market in 2019 was worth US$ 2,410.8 Mn and is expected to grow at 6.4% CAGR over the forecast period 2019 and 2027.
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Growing product clearances are expected to propel the global drug eluting stents market growth during the forecast period.
Market players are focused on obtaining regulatory approvals so that they can sell their products and address underserved medical requirements in cardiac care. For instance, the U.S. Food and Drug Administration (FDA) in September 2018 approved Boston Scientific’s ‘Eluvia’ Drug-Eluting Vascular Stent System, which is utilized in the therapy of peripheral artery disease.
Furthermore, Medtronic Plc obtained the U.S. Food and Drug Administration (FDA) approval in February 2018 for their product ‘Resolute Onyx,’ which is a 2.0-mm drug-eluting stent (DES) and that one of the smallest drug eluting stents offered in the U.S.
Rising incidences of cardiovascular diseases are expected to propel the demand for surgical intervention and treatment is expected to fuel the growth of the global drug eluting stents market over the forecast period
Rising incidences of several cardiovascular diseases such as abnormal heart rhythms, congenital heart disease, heart failure, heart attack, heart valve disease, and others disturbing the heart functioning are expected to boost the global drug eluting stents market growth over the forecast period. According to the World Health Organization (WHO), around 17.7 million individuals worldwide had cardiovascular diseases in 2015, with 6.7 million individuals having heart stroke and 7.4 million individuals having coronary heart diseases.
Increasing cardiovascular disease prevalence is propelling the demand for drug eluting stents, which is expected to boost the global drug eluting stents market growth during the forecast period. Furthermore, unhealthy diets, low physical activity, and unhealthy lifestyles are key contributors to an increase in the incidence of cardiovascular disease, which leads to an increase in death rates. According to the American Heart Association (AHA), in the U. S. around 801,000 fatalities were reported in 2016 as a result of cardiovascular diseases, and around 92.1 million adults in the U.S. suffered from some kind of cardiovascular disease. Moreover, according to the same sources, coronary heart disease accounts for 45.1 % of deaths in the U.S. and an estimated 31 % of worldwide mortality.
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Global Drug Eluting Stents Market- Regional Analysis
On the basis of region, the global drug eluting stents market is divided into Latin America, Africa, Asia Pacific, North America, the Middle East, and Europe.
North America is expected to account for the largest share in the global drug eluting stent market during the forecast period, due to higher product releases and approvals, as well as the presence of key manufacturers in the region. For instance, Abbott obtained U.S. Food and Drug Administration (FDA) approval in January 2013 to commercialize the ‘XIENCE Xpedition’ Everolimus-eluting coronary stent system in the U.S.
Furthermore, major companies such as Biosensors International Group, Boston Scientific Corporation, XTENT Inc., and others are focusing on new product development and obtaining regulatory approvals, which is expected to fuel the drug eluting stents market growth in the North America region over the forecast period.
Moreover, due to rising technical developments and the development of new products by key players, Asia Pacific is expected to exhibit substantial growth in the global drug eluting stents market during the forecast period. For instance, MicroPort Scientific Corporation, a China-based healthcare company, launched ‘Firehawk,’ a drug-eluting stent used to treat patients with coronary artery disease, in September 2018. Firehawk is a Rapamycin target eluting coronary stent technology of the latest generation.
Restraints
Product recall is a major factor restraining the global drug eluting stents markets growth over the forecast period. For instance, the U. S. Food and Drug Administration in October 2013 issued a recall letter to Medtronic plc for recalling their ‘Resolute Integrity’ Zotarolimus-eluting Coronary Stent due to an incorrectly stated product diameter of 2.25 mm rather than 3.0mm in the product’s compliance chart. Furthermore, according to a document submitted by the German Federal Institute for Drugs and Medical Devices, Boston Scientific launched a product recall of its 150mm ‘Eluvia’ drug-eluting vascular stent, and 200mm and 180mm ‘Innova’ self-expanding stent system, in November 2017.
Key players
Some of the major players contributing to the global drug eluting stents market are Biosensors International Group, Terumo Medical Corporation, Medtronic Plc, Boston Scientific Corporation, Abbott Laboratories, XTENT, Inc., XTENT, Inc., Kyoto Medical Planning Co., Ltd., Cardionovum GmbH, Cook Medical, Lepu Medical Technology, Shandong JW Medical Systems, Biotronik, AlviMedica Medical Technologies Inc., Abbott Vascular Inc., Stentys, Cordis Corporation, Amaranth Medical, Inc., and Hangzhou HuaAn Biotechnology Co. Ltd.
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able of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Drug
- Market Snippet, By Coating Type
- Market Snippet, By Application
- Market Snippet, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Novel Product Launch/Approval
- Acquisitions and Partnerships
- Technological Advancement
- Regulatory Scenario
- Reimbursement Scenario
- Product Recalls
- PEST Analysis
- PORTER’s Analysis
- Epidemiology
- Market Dynamics
- Global Drug Eluting Stents Market, By Drug, 2016 – 2027 (US$ Million)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Sirolimus
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Paclitaxel
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Zotarolimus
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Everolimus
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Biolimus
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Introduction
- Global Drug Eluting Stents Market, By Coating Type, 2016 – 2027 (US$ Million)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Polymer-based Coatings
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Polymer-free Coatings
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Introduction
- Global Drug Eluting Stents Market, By Application, 2016 – 2027 (US$ Million)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Coronary Artery Disease
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Peripheral Artery Disease
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Introduction
- Global Drug Eluting Stents Market, By End User, 2016 – 2027 (US$ Million)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Cardiology Centers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Ambulatory Surgery Centers (ASCs)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Introduction
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