Drug-eluting Stents Market: Increase in Prevalence of Cardiovascular Diseases Drives the Market
Global Drug-eluting stents Market: Overview
The global drug-eluting stents market is anticipated to be driven by an increase in the number of DES system approvals by various regulatory authorities, such as the Food and Drug Administration, Japanese Ministry of Health, and China Food and Drug Administration (CFDA), and the ever-increasing prevalence of cardiovascular diseases. North America held a major share of the global drug-eluting stents market in 2018, due to the rapid adoption of newer generation drug-eluting stents, technological advancements, and increase in the demand for drug-eluting stents for the treatment of peripheral artery diseases in the region. The drug-eluting stents market in Asia Pacific is anticipated to expand at a high CAGR of ~6%, driven by a rise in the geriatric population, favourable reimbursement policies, and high prevalence of coronary artery diseases, coupled with diabetes and obesity.
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In terms of revenue, the global drug-eluting stents market is projected to reach a value of ~US$ 8.3 Bn by 2027. The global drug-eluting stents market is expected to expand at a CAGR of ~5%, in terms of value, during the forecast period of 2019 to 2027.
Drug-eluting stents Market: Prominent Regions
Based on region, the global drug-eluting stents market has been segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is expected to account for a dominant share of the global drug-eluting stents market during the forecast period, owing to an increase in the demand for biodegradable drug-eluting scaffolds, rise in research and development activities for the development of vascular stent technologies, and an increase in investments on cardiovascular devices.
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The drug-eluting stents market in Europe is anticipated to expand at a considerable growth rate in the near future, due to the noteworthy increase in the number of 3rd generation drug-eluting stents receiving the CE mark and advancements in polymer technology for manufacturing stents. For instance, in February 2016, Medtronic announced the CE mark and launch of the Resolute Onyx drug-eluting stent.
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The drug-eluting stents market in Asia Pacific is likely to expand at a rapid pace in the next few years. Significant rise in the prevalence of coronary artery diseases, rise in awareness about degradable stents among most healthcare providers, and launch of new stents by local players are expected to provide lucrative opportunities to the drug-eluting stents market in the near future. According the Lancet, deaths due to coronary disease are increasing in rural India, and are expected to be higher than those in urban areas. Moreover, in both, urban and rural areas, death rates are high among women as compared to that among men.
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Drug-eluting stents Market: Key Players
Key players operating in the global drug-eluting stents market include Boston Scientific Corporation, Medtronic, Abbott, Biosensors International Group, Ltd ( Bluesail Medical Co., Ltd.), Biotronik, MicroPort Scientific Corporation, Terumo Corporation, Cook, STENTYS SA, and Medinol Ltd.
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