The Global Drug Eluting Stents Market is Expected to Witness a CAGR of 5.4% during the Forecast period to Reach Revenue of $5,614.6 Million by 2024
Bangalore, India, August 08, 2018: With its recently published study “Drug eluting Stents Market – Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024”, Infoholic Research forecasts that the global market for drug-eluting stents will grow due to increasing prevalence of cardiovascular diseases, rising aging population, and growing acceptance for minimally invasive endovascular surgeries. Increasing healthcare spending, rise in the number of outpatient procedures, and market expansion opportunities in emerging nations are providing an opportunity for the DES market growth. However, alternatives for drug-eluting stents, lack of skilled healthcare professionals, and stringent regulatory approval process are hampering the growth of the market.
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The first-generation DES has raised safety issues due to a higher incidence of stent thrombosis, which has further given rise to biodegradable DES to provide better treatment. The ability to release an antiproliferative drug that avoids neointimal proliferation, which reduces the incidence of stent restenosis and prevent the need for restenting. These benefits contributed to the domination of DES in 2016. However, thrombosis, along with vasomotion, is the major issue that needs to be addressed in the DES market. Drug-eluting stents find importance in cardiovascular complications as it is a minimally invasive surgical procedure, broadens the constricted blood vessels, and is useful in prolonging the life of the patient.
Based on applications, the market is segmented into coronary artery disease and peripheral artery disease. Approximately 90% of all percutaneous interventional surgeries use a coronary stent of all stenting procedures is done with drug-eluting stents (DES). Therefore, the majority of the market is occupied by coronary arterial intervention.
The major end-users in the drug-eluting stents market are cardiology centers, ambulatory surgery centers (ASCs), and hospitals. The advantages such as availability of surgery specialists, reduced hospital stay duration, and less charge of surgery have made ambulatory surgical centers the most preferred mode for the treatment. This has made them the largest segment among end-users.
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The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). North America accounts for the largest share of the drug-eluting stents market, followed by Europe, Asia Pacific, and Rest of the World. More than 60% of the market is occupied by Europe, with Germany being the major contributor toward the market growth.
“New product development, geographical expansion, collaboration, mergers & acquisitions, and pricing strategies are vital undertakings of players in this space. For instance, in May 2018, MicroPort, a Chinese company, acquired the cardiac rhythm management segment of LivaNova, which has made MicroPort a prominent player in the market. In January 2017, St. Jude Medical, one of the major players in the market, was acquired by Abbott Laboratories for a total of $25 billion. In August 2018, Boston Scientific Corp. signed an agreement to acquire Veniti Inc. Recently, the prices of coronary stents in India have been slashed by around 70%, making it affordable to lower-income people. As a result, Abbott and Boston are withdrawing their most advanced products “Absorb” and “Synergy & Promous Premier”, respectively. This has helped MicroPort to establish its market easily in India with the targeted drug-eluting stents. The technology of MicroPort is proved to be no less than Abbott and other products by market leaders. This is expected to strengthen its market in India.” – Rikitha K Murthy, Research Analyst, Infoholic Research
Key Insights of the Report Include:
- Coating Types:
- Polymer-based Coating
- Polymer-free Coating
- Coronary Artery Disease
- Peripheral Artery Disease
- Ambulatory Surgical Centers
- Cardiology Centers
- Regional Analysis:
- North America
- Asia Pacific
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities