Number of pages: 100 | Report Format: PDF | Published date: October 11, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
According to the deep-dive market assessment study by Growth Plus Reports, the Global Drug-eluting Stents Market was valued at US$ 6.91 billion in 2021. The market is expected to witness a CAGR of 5.6% from 2022 to 2030.
A Drug-eluting Stent (DES) consists of a small metallic mesh tube coated with a slow-released medication. This drug is released slowly and controlled, essentially allowing the diffusion in the vascular tissue. This helps prevent excessive cellular proliferation near the stents, which could cause restenosis and may lead to a heart attack. The eluted medicine for the stent aids in maintaining the smooth, exposed state of the arteries, ensuring proper blood flow, and reducing the risk of restenosis. It improves channel repair and reduces the need for prolonged dual antiplatelet medications.
The continuously increasing geriatric population at a high risk of developing vascular diseases is the major driving factor of the global drug-eluting stents market. The rising prevalence of cardiovascular diseases such as coronary heart disease and aortic disease and vascular diseases like peripheral arterial disease, deep vein thrombosis (DVT), and renal artery stenosis are also playing a key role in the growth of the global drug-eluting stents market. Moreover, unhealthy lifestyles, poor eating habits, and a lack of exercise contribute to the global prevalence of atherosclerosis. Additionally, the rise in the demand for minimally invasive techniques and the adoption of advanced technologies with the rise in research and development is also expected to propel the market growth. However, some risks associated with DES include stent thrombosis, infection, coronary artery rupture, Coronary artery closure, Irregular heart rhythm, Infection, and Allergic reaction to the dye and stent. Moreover, the falling price of the devices is also anticipated to restrict market growth. Additionally, it is projected that the declining cost of the devices may restrict the market growth.
The global drug-eluting stents market has been analyzed from three perspectives: drug coating, application, and region.
Drug-eluting Stents Market by Drug Coating
Based on drug coating, the global drug-eluting stents market is segmented into polymer-based coatings and polymer-free coatings. The polymer-free coatings segment dominates the market with the largest share in 2021. The polymer-free layer is further categorized in microporous surface, microstructured surface, slotted tubular surface, and nanoporous surface. The large percentage of the polymer-free coating segment is largely attributed to the advantage provided by the polymer-free coating, which includes reduction of in-stent restenosis rates and faster drug eluting rate, which may increase therapeutic efficacy. Moreover, the polymer covering has been associated with various unfavorable clinical outcomes, including stent thrombosis and inflammation. Thus polymer-free coating increases the safety of the drug-eluting stents. Different drugs can be used with a polymer-free coating such as sirolimus, tacrolimus, paclitaxel, and probucol, thus driving the segment growth.
Drug-eluting Stents Market by Application
Based on application, the global drug-eluting stents market is segmented into coronary artery disease, and peripheral artery disease. Coronary artery disease has the largest market share in 2021. The large market share of coronary artery disease can be attributed to the rising prevalence of chronic diseases such as diabetes and high blood pressure (hypertension). Moreover, coronary artery disease is the leading cause of death globally. According to National Center for Biotechnology Information, around 9 million deaths are globally caused by coronary artery diseases. Additionally, there is a rise in the demand for drug-eluting stents as stenting is a minimally invasive procedure, and there are fewer chances of complications than other treatment alternatives for coronary artery disease, thus propelling the segment growth.
Drug-eluting Stents Market by Region
Based on region, the global drug-eluting stents market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the global drug-eluting stents market in 2021, followed by Europe. Asia Pacific market is anticipated to grow at the fastest CAGR during the forecast period. The large share of North America in the global drug-eluting stents market can be primarily attributed to the increasing geriatric population in the region and the rising prevalence of cardiovascular diseases. According to the Centres for Disease Control and Prevention, heart disease is the leading cause of death in the U.S. Around 697,000 people died in the U.S. due to heart disease in 2020, accounting for one of every five deaths.
Moreover, the rising obese population, diabetes, physical inactivity, and unhealthy lifestyle in the region is leading to the rise in vascular diseases. According to Centres for Disease Control and Prevention, one in every three Americans is obese, and more than 35 million people smoke tobacco. Additionally, the rise in the demand for minimally invasive procedures, well-developed healthcare infrastructure, and the presence of top market players are also anticipated to drive segment growth.
Some prominent players operating in the global drug-eluting stents market are:
The global drug-eluting stents market was estimated to be US$ 6.91 billion in revenue in 2021.
The global drug-eluting stents is estimated to reach at US$ 11.28 billion by 2030.
The CAGR of the global drug-eluting stents market is 5.6% during the forecast period from 2022 to 2030.
Some of the prominent players operating in the global drug-eluting stents are Boston Scientific Corporation, Abbott Laboratories, Terumo Corporation, Medtronic Plc, Biotronik SE & Co. KG, Biosensors International Group Ltd, Cook Medical, Shandong JW Medical Systems Ltd, MicroPort Scientific Corporation, Stentys SA, Lepu Medical Technology Co. ltd, Cardionovum GmbH, and Kyoto Medical Planning Co. Ltd. among others.
The global drug-eluting stents market is the rising geriatric population with the growing prevalence of diseases like coronary heart disease, aortic disease, peripheral arterial disease, deep vein thrombosis (DVT), and renal artery disease stenosis. Moreover, the rising demand for minimally invasive procedures and advanced technologies is driving the market growth.
*Insights on financial performance are subject to the availability of information in the public domain