Drug Eluting Stents Market

Global drug-eluting stents market was valued at USD 2.57 billion in 2021, growing at a CAGR of 8.09% during the forecast period from 2023 to 2028 to reach USD 4.08 billion by 2028.

The Drug Eluting Stents market is slated to witness prosperity owing to factors such as growing prevalence of cardiovascular diseases which can further be attributed to the increase in geriatric population wherein aging is considered to have a deleterious effect on blood vessels, growing prevalence of lifestyle disorders such as hypertension, diabetes, and obesity that are linked to affect the health of blood vessels in long term and drastically increase the probability of atherosclerosis, and the growing focus on developing newer generation of drug eluting stents in order to minimize post-procedural complications are further expected to result in the appreciable revenue growth in the drug eluting stents market during the forecast period (2023-2028).

Some of the key market players operating in the Drug Eluting Stents market include Abbott (NYSE: ABT), Medtronic (NYSE: MDT), Boston Scientific Corporation (NYSE: BSX), B. Braun Melsungen AG, BIOTRONIK, Cook, Terumo Corporation, Lepu Medical Technology (Beijing) Co., Ltd, MicroPort Scientific Corporation, Balton Sp. z o.o., ENDOCOR GmbH, Eurocor Tech GmbH, Alvimedica, Biosensors International Group, Meril Life Sciences Pvt. Ltd, Translumina, Sino Medical Sciences Technology Inc, iVascular S.L.U Sahajanand Laser Technology Limited (SLTL Group), Cardionovum GmbH, and others.

DelveInsight’s “Drug-Eluting Stents Market Insight & Forecast” report will offer an in-depth understanding of the Drug-Eluting Stents market, further benefiting the competitors or stakeholders operating in the Drug-Eluting Stents arena.

Drug-Eluting Stents Overview

A drug-eluting stent is a small mesh structure that is inserted into the artery to keep it open and also releases a medication that helps prevent the formation of blood clots inside the stent.

Drug-Eluting Stents Market Insights

Among all the regions, North America is expected to lead in revenue generation in the global drug-eluting stents market. This can be ascribed to the large presence of a patient pool of cardiovascular diseases which can further be attributed to the increased reliance on junk food, a sedentary lifestyle among other factors, and extensive coverage both by private and public health insurance providers for the stent placement procedures, as well as increasing aging population of the elderly, among other factors in the region.

One of the key factors supporting the growth of the North American drug eluting stents market is the growing prevalence of cardiovascular diseases such as the peripheral artery disease.  As per the number quoted by the Centers for Disease Control and Prevention (2021), near about 6.5 million people in the age group of 40 years and older suffer from PAD in the United States. Furthermore, it has been established that PAD can further heighten the risk for developing cerebrovascular disease and coronary artery disease. The drug-coated stents such as paclitaxel-eluting stents help in mechanically opening the blocked vessels and improve blood flow in the lower limbs which further help in improving the prognosis for patients. Therefore, the rising prevalence of peripheral artery disease in the country and the extensive use of drug-eluting stents are expected to bolster the growth of the drug eluting stents market in the United States during the forecast period.

Moreover, the data provided by the Government of Canada (2021) stated that on an average, Canadians employed in full-time employment spend 68.9% of their day remaining sedentary. This type of lifestyle has been evidenced to drastically increase the risk for many of the chronic diseases including hypertension, cholesterol which may further give rise to other cardiovascular diseases such as atherosclerosis. In events like this, drug-eluting stents are then employed in the opening up the blocked vessels as part of the treatment regimen. Thus, the decrease in physical activity and increase in sedentary behavior in the Canadian population may also contribute in the growing prevalence of risk factors such as obesity and hypertension in the population, ultimately leading to the development of various cardiovascular disorders. This may act as another stimulating factor for the drug-eluting stents market in the coming years to target the potential patient population in the country.

The increasing patient population in the region further motivate manufacturers in gaining product approvals from the local regulatory bodies. For instance, in April 2021, the Canadian medical device regulatory authority body, Health Canada granted product approval to Biotronik’s Orsiro drug-eluting stent for the treatment of coronary artery disease. Local product approvals help manufacturers establish credibility in individual countries and further improving product reach on a country level. 

Therefore, all the factors are collectively expected to influence the demand for such stents eventually driving the growth of the drug eluting stents market during the forecast period.  

To read more about why North America is leading the market growth in the Drug-Eluting Stents market, get a snapshot of the Drug-Eluting Stents market report.

Drug-Eluting Stents Market Dynamics

One of the noteworthy drivers of the drug-eluting stents market is the rising prevalence of lifestyle disorders that further contribute in the development of cardiovascular diseases. Diabetes and hypertension are two of the most common indications that are linked to the pathogenesis of cardiovascular diseases. As per the figures quoted by the International Diabetes Federation, in 2021, close to 537 million adults in the 20-79 year age group were living with diabetes. Similarly, in another dataset provided by the World Health Organization (2022), on an average, raised cholesterol is estimated to result in 2.6 million deaths. High levels of cholesterol and blood sugar are linked with increased chances of the development of cardiovascular diseases as they heavily impact the vasculature supplying the myocardium. Drug-eluting stents are employed in opening up the blocked blood vessels as well as also deliver drugs at the site of stent placement in order to avoid restenosis. Therefore, the increasing prevalence of cardiovascular diseases due to surge in the number of lifestyle disorders are anticipated to drive the demand for such stents eventually leading the global drug-eluting stents market growth during the forecast period (2022-2027).

Another key factor responsible for the growth of the drug-eluting stents market is the rising geriatric population. As per the data provide by the World Health Organization in their Decade of Healthy Ageing(2020–2030) Report, the number of people aged 60 years and older will be 34% higher, increasing from one billion in 2019 to 1.4 billion in 2030. The report further stated that by 2050, the global population of the elderly will get doubled to 2.1 billion. Aging has been related to thickening of blood vessels which further impacts the elasticity of blood vessels. This acts as a major factor for the development of arteriosclerosis in the elderly population, wherein the preferred mode of treatment is the employment of drug-eluting stents. Thus, the increase in the aging population is expected to further drive the demand for drug-eluting stents owing to the effects of aging on the vasculature, ultimately bolstering the growth of the drug eluting stents market in the near future.

However, frequent product recalls and device-related complications may act as restraining factors to the drug eluting stents market growth.

Covid 19 Impact Analysis

The drug eluting stents market reported a short period of restraint in market growth due to the implementation of lockdown as necessary measures to break the chain of the COVID-19 infection transmission. The imposing of lockdown massively affected the supply chains and production disruptions affected the device production. Many countries segregated medical procedures based on the need for urgent medical care in order to streamline the workflow during the COVID-19 crisis and saw various medical procedures considered elective being suspended. This led to the decrease in product demand from regular levels.  However, with the resumption of activities across industries including the healthcare sector, it has been uplifting for the drug eluting stents market during the forecast period from 2022-2027.

Recent Breakthroughs in Drug-Eluting Stents Market:

• In September 2021, Biotronik received the regulatory approval from the US Food and Drug Administration for their Orsiro Mission bioabsorbable polymer drug-eluting stent system (BP-DES). The device is said to feature the ultrathin strut design touted as the thinnest available design available in the United States.
• In June 2021, Abbott received the product approval from the US FDA for their XIENCE family of stents for one-month (for 28 days) DAPT labeling for high bleeding risk (HBR) patients in the U.S. The product has already received the CE mark approval.
• In May 2021, Alvimedica received the CE mark approval for their NiTides self-expanding, drug-eluting stent aimed for treating lesions associated with peripheral artery disease in the superficial femoral arteries.

Key Players Proactively Working In the Drug-Eluting Stents Market

Key Drug-Eluting Stents companies involved in manufacturing and production are making significant growth in the advancement of these devices. To boost their market position, they also engage in mergers and acquisitions. Some of the key Drug-Eluting Stents companies operating actively in the Drug-Eluting Stents market include Abbott, Medtronic, Boston Scientific Corporation, B. Braun Melsungen AG, BIOTRONIK, Cook, Terumo Corporation, Lepu Medical Technology(Beijing)Co.,Ltd, MicroPort Scientific Corporation., Balton Sp. z o.o., ENDOCOR GmbH, Eurocor Tech GmbH., Alvimedica, Biosensors International Group, Meril Life Sciences Pvt. Ltd, Translumina, Sino Medical Sciences Technology Inc, iVascular S.L.U Sahajanand Laser Technology Limited (SLTL Group)., Cardionovum GmbH.,  and others.

Scope of the Drug-Eluting Stents Market Report:

• Geography Covered: Global
• Study Period: 2022-2027
• Key Drug-Eluting Stents Companies: Abbott, Medtronic, Boston Scientific Corporation, B. Braun Melsungen AG, BIOTRONIK, Cook, Terumo Corporation, Lepu Medical Technology(Beijing)Co.,Ltd, MicroPort Scientific Corporation., Balton Sp. z o.o., ENDOCOR GmbH, Eurocor Tech GmbH., Alvimedica, Biosensors International Group, Meril Life Sciences Pvt. Ltd, Translumina, Sino Medical Sciences Technology Inc, iVascular S.L.U Sahajanand Laser Technology Limited (SLTL Group)., Cardionovum GmbH.,  and others.
• Market Segmentation by Type: Coronary Stenting And Peripheral Stenting), By Scaffold (Platinum-Chromium, Cobalt-Chromium, Nitinol, And Others
• Market Segmentation by Coating: (Polymer-Based Coating [Biodegradable And Non-Biodegradable] And Polymer-Free Coating
• Market Segmentation by Drug Type: Everomilus, Paclitaxel, And Others)
• Market Segmentation By End-User: Hospitals, Ambulatory Surgical Centers, And Specialty Clinics
• Market Segmentation by Geography: North America, Europe, Asia-Pacific, Rest of the World (Middle East, Africa, and South America)
• Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

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