Global Drug Eluting Stents Market, by Drug (Sirolimus, Paclitaxel, Zotarolimus, Everolimus, Biolimus, and Others), by Coating Type (Polymer-based Coatings and Polymer-free Coatings), by Application (Coronary Artery Disease and Peripheral Artery Disease), by End User (Cardiology Centers, Ambulatory Surgery Centers (ASCs), and Hospitals), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2,897.2 Million in 2022 and is expected to exhibit a CAGR of 6.6% during the forecast period(2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing research and developments for coronary artery diseases and the growing adoption of new strategies by key players in the market are expected to drive market growth over the forecast period. For instance, in September 2018, Terumo Corporation, a medical device company, announced the launch of Ultimaster Tansei, a drug eluting stent that allows to treat complex anatomies of artery diseases in Europe.
Global Drug Eluting Stents Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and consequent lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
The COVID-19 pandemic also had a negative impact on the drug eluting stents market, as COVID-19 has worsened the outcomes of coronary artery disease. For instance, in August 2021, according to the data published by the NCBI (National Center for Biotechnology Information), the coronavirus disease has severely affected patients suffering from coronary artery disease with underlying comorbidities. Coronary artery disease patients with COVID 19 infection, have higher rates of mortality and may have higher need for renal replacement therapy.
Global Drug Eluting Stents Market: Key Developments
In April 2022, Biosensors International Group, Ltd., a manufacturer of interventional cardiology devices, received a premarket approval for BioFreedom, a drug-coated coronary stent system, used for improving coronary luminal diameter in patients who are at high risk of bleeding due to de novo lesions. BioFreedom Ultra is the most relevant stent option for high-bleeding risk patients who cannot tolerate dual antiplatelet therapy.
In August 2018, PubMed Central published a review article on new developing generations of drug eluting stents, according to which, there has been a great evolution in the development of stents for coronary disease to avoid restenosis as well as thrombosis. Great advancements have been made in the field of polymer coating as well as newly developed additional coating technologies such as PROBIO, a silicon carbide coating developed to reduce thrombogenic properties of metal stents.
Browse 44 Market Data Tables and 37 Figures spread through 192 Pages and in-depth TOC on “Global Drug Eluting Stents Market”- Forecast to 2030, Global Drug Eluting Stents Market, by Drug (Sirolimus, Paclitaxel, Zotarolimus, Everolimus, Biolimus, and Others), by Coating Type (Polymer-based Coatings and Polymer-free Coatings), by Application (Coronary Artery Disease and Peripheral Artery Disease), by End User (Cardiology Centers, Ambulatory Surgery Centers (ASCs), and Hospitals), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/drug-eluting-stents-market-566
Moreover, the increasing prevalence of artery diseases is expected to drive the market growth over the forecast period. For instance, according to the data published by ScienceDirect in November 2019, a study was conducted in France which suggested that among 763,338 patients the cases of coronary artery disease and lower extremity artery disease were found to be 8,559 patients and 4,399 respectively. The increase in disease prevalence results in increase in mortality and morbidity rate.
Key Takeaways of the Global Drug Eluting Stents Market:
- The global drug eluting stents market is expected to exhibit a CAGR of 6.6 % during the forecast period, due to the increasing adoption of strategies such as collaborations and partnerships by the key players for carrying out research to develop new effective solutions for cardiovascular diseases such as coronary artery disease, peripheral artery disease, rheumatic heart disease, and others. For instance, in July 2022, a partnership was initiated between anumana, Inc., an artificial intelligence (AI)-driven health technology company, and Novartis AG, a global healthcare company, for developing an AI-driven heart disease detection tool . The companies will deploy different AI-powered software to identify hidden cardiovascular conditions.
- Among applications, the coronary artery disease segment is estimated to hold a dominant position in the global drug eluting stents market over the forecast period, owing to the increasing prevalence of the disease among the various countries. For instance, according to the data provided by the Centers for Disease Control and Prevention in July 2022, around 20.1 million adults with age 20 and older have Coronary Artery Disease in the U.
- On the basis of regions, North America is expected to hold a dominant position in the global drug eluting stents market over the forecast period, owing to increasing product launches, product approval, and presence of major players in the region. For instance, in June 2021, Abbott, a medical device company, launched XIENCE, a type of stent used to open blood vessels, received the U.S. Food and Drug Administration (FDA) approval for one month DAPT labeling for high bleeding risk (HBR) patients
- Major players operating in the global drug eluting stents market include Boston Scientific Corporation, Medtronic, Abbott Laboratories, Biosensors International Group, Biotronik, Lepu Medical Technology, Terumo Medical Corporation, Cook Medical, Shandong JW Medical Systems, Stentys, AlviMedica Medical Technologies Inc., Amaranth Medical, Inc., HangZhou HuaAn Biotechnology Co., Ltd, XTENT, Inc., Cardionovum GmbH, Cordis Corporation, and Kyoto Medical Planning Co., Ltd.
