DRUG ELUTING STENTS MARKET ANALYSIS

Drug Eluting Stents Market Size and Trends

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.

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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.