DRUG ELUTING STENTS MARKET ANALYSIS

Market Challenges And Opportunities

Global Drug Eluting Stents Market – Drivers

Increasing product approvals are expected to drive the global drug eluting stents market growth over the forecast period. Manufacturers of drug eluting stents are focused on gaining regulatory approval to market their products and fulfill the unmet medical needs in cardiac care. For instance, in December 2021, the U.S. Food and Drug Administration (FDA) approved SLENDER IDS fixed-wire and DIRECT RX rapid-exchange drug-eluting stent (DES) systems for the treatment of coronary artery disease by Svelte Medical, a healthcare company. Both the products, SLENDER IDS and DIRECT RX, are highly deliverable drug eluting stent systems which provide long-term clinical outcomes in the coronary artery patient population.

The increasing prevalence of cardiovascular diseases is expected to drive demand for its treatment and surgical intervention, which in turn is expected to fuel the global drug eluting stents market growth. For instance, according to the data published by the National Center for Biotechnology Information in July 2020, ischemic heart disease, also referred to as coronary artery disease (CAD) and atherosclerotic cardiovascular disease (ACD), is a leading cause of premature mortality.

Global Drug Eluting Stents Market: Restraint

Major factors restraining the global drug eluting stents market growth include product recall. For instance, in June 2020, the U.S. FDA sent a recall letter to Abbott, a medical device company, for its product Xience Sierra TM Everolimus Eluting Coronary Stent System, due to incorrect or no expiration date in the compliance chart of the product. Moreover, in April 2021, Boston Scientific, a manufacturing company, initiated a voluntary recall of its VICI VENOUS STENT System and VICI RDS VENOUS STENT System for Potential Stent Migration, product was recalled due to the migration or movement of stent from initial place of implantation and require another surgery to retrieve it, which may have high risk to the patients.

Key Players