DRUG ELUTING STENTS MARKET ANALYSIS

Drug Eluting Stents Market Size and Forecast – 2024 to 2031

The Global Drug Eluting Stents Market is estimated to be valued at USD 7.81 Bn in 2024 and is expected to reach USD 13.82 Bn by 2031 exhibiting a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.

Key Takeaways of the Drug Eluting Stents Market:

• By product type, the polymer-based coatings segment is expected to contribute the highest share of the market with 52.1% in 2024.
• By application, the coronary artery disease segment is expected to contribute the highest share of the market with 43.2% in 2024.
• By end user, the hospitals segment is expected to contribute the highest share of the market with 40.3% in 2024.
• North America is expected to top the global market with 35.3% share, followed by Asia Pacific with 27.7% share in 2024.

Market Overview:

The global drug eluting stents market is expected to witness a positive growth trend over the forecast period. Factors such as rising prevalence of cardiovascular diseases, growing geriatric population, rising healthcare expenditures, increasing adoption of minimally invasive surgeries and interventional cardiology are expected to drive the market growth during this period. Moreover, ongoing technological advancements in the field of drug eluting stents including bioresorbable stents and nano-technology coatings are further expected to provide new growth opportunities to market players in the coming years. However, factors such as stringent regulatory approval process and product recalls may hinder the market growth to some extent during the forecast period.

Segmental Insights

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Product Type Insights - Technological Advancements Driving Polymer-Based Coatings

In terms of product type, the polymer-based coatings segment is expected to contribute the highest share of the market with 52.1% in 2024 owning to continuous technological advancements that have enhanced the material properties of polymers used for coating drug-eluting stents. The introduction of new generation polymers that are biocompatible and allow for controlled and sustained drug release has increased the appeal of polymer-based coatings. The polymers now mimic characteristics of natural tissues and offer reduced inflammatory response post implantation. This has translated to better clinical outcomes for patients and higher acceptance amongst clinicians. Ongoing R&D is further exploring the potential of smart polymers whose drug release properties can be stimulated in response to specific bio signals. These smart coatings are expected to tremendously benefit personalized therapy and treatment compliance.

Application Insights - Increased Incidence of Coronary Artery Disease

In terms of application, the coronary artery disease segment is expected to contribute the highest share of the market with 43.2% in 2024 owing to rising prevalence globally. Coronary artery disease is one of the leading causes of mortality and a major economic burden. With growth in geriatric population and lifestyle changes, the risks of atherosclerosis and plaque formation in arteries have surged tremendously. In developing nations, adoption of sedentary urban lifestyles coupled with growing consumption of junk and processed foods has substantially increased metabolic disorders as well as lifestyle diseases. This has contributed to surging incidences of coronary artery blockages and subsequent procedures like angioplasty with stenting. The clinical benefits of drug-eluting stents over bare-metal stents in reducing restenosis rate post coronary intervention has augmented their demand among CAD patients.

End User Insights - Large Patient Pool and Reimbursement Advantages

In terms of end user, the hospitals segment is expected to contribute the highest share of the market with 40.3% in 2024, driven by large patient volumes treated at hospitals along with reimbursement benefits. As a majority of stenting procedures are performed at hospital cath-labs by trained intervention cardiologists, hospitals account for the bulk of drug-eluting stent sales. In addition, most universal healthcare systems follow favorable reimbursement practices for in-hospital treatments compared to other healthcare facilities. This makes stenting procedures more affordable for patients at hospitals. Furthermore, hospitals have better infrastructure and trained staff to handle post-procedural care as needed. This helps lower complications risks compared to other end users, boosting overall preference and demand for drug eluting stents at hospitals.

Regional Insights

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North America Drug Eluting Stents Market Trends

North America’s dominance in the drug eluting stents market with share of 35.3% in 2024 can be attributed to factors such as the well-established healthcare infrastructure, growing prevalence of cardiovascular diseases, and presence of leading market players. Favorable reimbursement policies have also contributed to the large market size in the region.

Asia Pacific Drug Eluting Stents Market Trends

The Asia Pacific region exhibits the fastest growth with share of 27.7% in 2024 and is expected to witness significant expansion over the forecast period. This can be credited to the improving access to healthcare in developing nations, rising medical tourism, and increasing healthcare expenditures.

Drug Eluting Stents Market Outlook for Key Countries

United States Drug Eluting Stents Market Trends

The U.S. dominated the drug eluting stents market with, driven by strong healthcare infrastructure, high adoption of advanced technologies. For Instance, In June 2021, such Abbott, global healthcare leader announced USFDA approval for one-month dual antiplatelet therapy (DAPT) labeling for its XIENCE stents in high bleeding risk (HBR) patients. XIENCE stents also received CE Mark approval, making them the world’s shortest DAPT-indicated stents.

Japan Drug Eluting Stents Market Trends

Japan’s aging population significantly drives the demand for drug eluting stents. In February 2023, the Japanese Ministry of Health reported an increase in funding for cardiovascular treatments, including drug eluting stents, to address the growing health needs of the elderly.

Germany Drug Eluting Stents Market Trends

Germany drug eluting stents market benefits from strong government support for cardiovascular health initiatives. In March 2023, the German Federal Ministry of Health announced funding for innovative medical technologies, including drug eluting stents, to improve patient care and outcomes.

India Drug Eluting Stents Market Trends

India's market for drug eluting stents is expanding due to rising healthcare investments and increasing awareness about cardiovascular diseases. In April 2023, the Indian Council of Medical Research launched a national initiative to promote the use of drug eluting stents for better management of heart diseases.

Market Players, Key Devlopment, and Competitive Intelligence

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Key Developments:

• In May 2024, Abbott, a medical device company, launched the XIENCE Sierra Everolimus Eluting Coronary Stent System in India, the latest generation stent in the XIENCE family. Designed for treating blocked coronary arteries, it offers enhanced safety for complex cases. This advancement supports percutaneous coronary intervention (PCI), a minimally invasive procedure that improves blood flow by opening blocked arteries and placing stents to keep them open.
• In May 2022, Medtronic plc, a global leader in medical technology received U.S. FDA approval for its Onyx Frontier drug-eluting stent (DES), the latest innovation in the Resolute DES family. Designed to treat coronary artery disease (CAD), the stent features an enhanced delivery system for improved performance in complex cases. CAD, a leading cause of death in the U.S., is treated with stents to restore blood flow by propping open clogged arteries. The Onyx Frontier DES aims to provide interventional cardiologists with a reliable and efficient solution for managing challenging coronary cases.
• In October 2021, Boston Scientific Corporation, a biotechnology company, reported positive one-year results for the Eluvia Drug-Eluting Vascular Stent System at the VIVA meeting in Nevada,U.S. The EMINENT trial, involving 775 patients, demonstrated the Eluvia stent's superiority over bare metal stents (BMS) in treating peripheral artery disease (PAD) with lesions up to 210 mm in the superficial femoral and popliteal arteries, marking the largest randomized trial of a drug-eluting stent for PAD to date.

Top Strategies Followed by Global Drug Eluting Stents Market Players

• Established Players: Leading companies like Abbott Laboratories and Boston Scientific prioritize extensive research and development to innovate high-performance drug eluting stents. For instance, Abbott invested over US$ 2 billion in R&D in 2022 to enhance its cardiovascular portfolio, focusing on advanced materials and drug delivery systems.
  • Alliances are crucial for market presence. In March 2023, Medtronic announced a partnership with the University of Pennsylvania to develop next-generation drug eluting technologies, aiming to leverage academic research for innovative solutions.
• Mid-level manufacturers focus on delivering quality, budget-friendly products. For example, Cook Medical introduced a line of drug eluting stents in 2022, designed to be cost-effective while maintaining high safety standards.
  • Partnerships boost technology and market presence. In April 2023, C. R. Bard collaborated with local manufacturers to enhance production capabilities in India, aiming to meet the growing demand for affordable medical devices.
• Small players like InspireMD target niche markets with unique product features. Their CGuard stent, launched in 2022, specifically addresses carotid artery disease, showcasing innovation in specialized applications.

Emerging Startups - Drug Eluting Stents Industry Ecosystem

• Some startups are developing innovative technologies like smart stents integrated with sensors and AI capabilities. Companies like Qualcomm Life and SensiumVitals are working on connected stents that can continuously monitor patients' vital signs and wirelessly transmit data to doctors. This can help improve post-surgery care.
• Other startups focus on more sustainable solutions. Enbiotix creates fully biodegradable stents using materials like poly (lactic-co-glycolic acid) that dissolve safely in the body over time. Such products may help reduce long-term health risks. Heart stent and Wrapture Medical focus on eco-friendly manufacturing techniques like using recycled polymers.
• Some startups like Fineol Technologies address niche medical needs by designing specialty stents customised for specific heart lesions. They often partner with hospitals and research institutions to validate new technologies and materials through clinical feedback.

Market Report Scope

Market Dynamics

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Drug Eluting Stents Market Growth Factors - Increasing prevalence of cardiovascular diseases globally

The rising incidence of cardiovascular diseases across major parts of the world has been a key factor fueling demand for drug eluting stents in recent years. Heart diseases have emerged as one of the biggest causes of mortality, with an increasing number of people suffering from conditions like coronary artery disease, coronary heart disease, and strokes. Some of the important factors responsible for the growing cases of CVDs include sedentary lifestyles, unhealthy diets, obesity, high cholesterol, diabetes, and high blood pressure which have become highly prevalent. Research published in the American Journal of Preventive Cardiology in March 2020 reveals that 18.3 million adults in the U.S. (8.0% of the population) suffer from atherosclerotic cardiovascular disease (ASCVD), a key contributor to heart attacks, strokes, and other cardiovascular conditions.

Drug Eluting Stents Market Challenge - High cost of drug eluting stents limiting accessibility

The high cost of drug eluting stents is one of the major challenges being faced by the global drug eluting stents market. Drug eluting stents are approximately three to five times more expensive than bare-metal stents. For instance, a drug eluting stent costs anywhere between USD 3,000 and USD 5,000, while a bare-metal stent costs around USD 1,000. The high cost of drug eluting stents is limiting their accessibility, especially in developing nations and in rural areas where a large section of the population has limited or no medical insurance. Due to the high monetary burden, many patients are opting for cheaper treatment options or bypassing the treatment altogether. This is negatively impacting the potential demand and growth prospects of the drug eluting stents market. Unless stakeholders work towards making drug eluting stents more affordable, through pricing controls, volume-based pricing, or reimbursement programs, this cost challenge will continue to restrict the market from reaching its true potential.

Drug Eluting Stents Market Opportunities - Growing demand for minimally invasive procedures

The global drug eluting stents market is witnessing opportunities due to the growing demand for minimally invasive procedures. Minimally invasive procedures such as coronary angioplasty with drug eluting stent implantation allow faster recovery and cause minimal pain and trauma to patients as compared to conventional open-heart surgeries. With rising health awareness and easier access to information, more and more patients are opting for minimally invasive treatments. This trend is working in favor of the drug eluting stents market. Additionally, the aging population that is more prone to cardiac issues also prefers minimally invasive treatments.

Analyst Opinion (Expert Opinion)

• The global drug eluting stents market has significant growth potential over the forecast period driven by an increasing prevalence of cardiovascular diseases and rising geriatric population globally. The market currently faces some restraints due to the high cost of drug eluting stents compared to bare-metal stents which may limit adoption in some price-sensitive markets. However, ongoing technological advancements focused on developing innovative drug eluting stent designs with enhanced efficacy and reduced healing times are expected to drive market expansion.
• Among regions, North America will likely continue dominating the market, supported by well-established healthcare systems and high patient acceptance of advanced technologies. Asia Pacific offers lucrative opportunities and is poised to emerge as the fastest-growing regional market. This can be attributed to growing medical tourism, rising healthcare spending, and increasing focus of key players on expanding their distribution networks in countries with large patient pools like China and India.
• The bioresorbable stents segment may witness increased adoption over the forecast period on account of associated advantages such as reduced long-term risks and requirement of lesser dual antiplatelet therapy duration. Additionally, favorable reimbursement reforms are projected to boost the market across several developing Asian and Latin American countries. However, maintaining a sizable revenue share, durable polymer-based drug eluting stents are expected to continue dominating the market in the short to mid-term.

Market Segmentation

• By Product Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Polymer-based Coatings
    • Non-biodegradable Polymers
    • Biodegradable Polymers
  • Polymer free Coatings
    • Micro porous Surface
    • Micro structured Surface
    • Slotted Tubular Surface
    • Nanoporous Surface
• By Application Insights (Revenue, USD Bn, 2019 - 2031)
• • Coronary Artery Disease
  • Peripheral Artery Disease
  • Others
• By End User Insights (Revenue, USD Bn, 2019 - 2031)
• • Hospitals
  • Cardiac Catheterization Labs
  • Ambulatory Surgical Centers
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
• • Abbott Laboratories
  • Boston Scientific Corporation
  • Medtronic
  • Terumo Corporation
  • B. Braun Melsungen AG
  • C. R. Bard Inc.
  • Cook Medical Inc.
  • Biotronik SE & Co. KG
  • MicroPort Scientific Corporation
  • Jude Medical (now part of Abbott)
  • Johnson & Johnson
  • Cardiovascular Systems Inc.
  • Gore Medical
  • InspireMD
  • Asahi Intecc Co., Ltd.
  • Z-Medica