Drug-eluting Stents Market Predicted to Rise at a Lucrative CAGR during 2019 - 2027
Drug-eluting Stents Market: Decoding the Newest Generation of Drug-eluting Stents, and Beyond
As the healthcare industry reforms to convert the current fee-for-service model to fee-for-value model, intense focus has been placed on the reduction in patient complications, and number and length of hospital stay. Interventional cardiology, in particular, is at a pivot point with remarkable evolution taking place in device technology, operator techniques, and clinical safety and efficacy. Enormous advances have been made in the treatment of coronary artery disease, and the era of 'stent implantation' is upon today’s patients. Moreover, the advent of drug-eluting stents (DES) has considerably changed and revolutionized the interventional landscape, and made angioplasty more predictable, as such, catalyzing the growth of the drug-eluting stents market.
In recent years, acceleration in device development, advances in adjunctive pharmacology, and improved information systems have turned the spotlight on the drug-eluting stents market. According to the latest research by Transparency Market Research (TMR)on the drug eluting stents market, the worldwide sales of drug-eluting stents will reach ~US$ 5.5 billion in 2019, recording a promising CAGR of ~5% during the period of 2019-2027.
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Drug-eluting Stents Market: Bioresorbable Stents – The Product of Choice
Rapid advancements in stent designs and delivery systems have made stenting much easier to integrate in interventional milieu – reducing the cases of restenosis, even for the most complex lesions. However, with the occurrence of stent thrombosis, manufacturers in the drug-eluting stents market are focusing on the development of newer generation of drug-eluting stents that facilitate the eradication of this fatal outcome. Bioresorbable stent (BRS) technology has been gaining increasing momentum in the most recent generation of drug-eluting stents, which are associated with significant reduction in the risk of early and late thrombosis.
While DES based on durable polymers continue to account for relatively high sales, manufacturers operating in the drug-eluting stents market are focusing on innovating and increasing the production of biodegradable polymer-based DES, as such polymers degrade efficiently after the elution of drugs. In addition, rising safety concerns regarding the usage of third-generation drug-eluting stents have prompted the development of fully-biodegradable or bioresorbable stents due to their potential advantages in decreasing inflammatory response, improving drug elution kinetics, and predictably inhibiting restenosis and late stent thrombosis.
Bioresorbable drug-eluting stents/scaffolds are likely to represent a crucial step in stent technology development, and provide the added benefit of completely degrading, allowing the recovery of vessel vasoreactivity and endothelial function. TMR’s analysts forecast that, the fourth-generation of drug-eluting stents will record an impressive CAGR of ~52% during the predefined timeframe.
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Will Developing Nations Offer Greater Growth Opportunities to the Global DES Market?
While stringent regulatory requirements set by the FDA have long affected the commercialization of various drug-eluting stents in the United States, increased access to advanced technologies and successful outcomes in clinical trials have been recently influencing the FDA approvals of newer generation of products. For instance, in 2019, BIOTRONIK announced the FDA approval of its ultrathin Orsiro drug-eluting stent (DES) system, while the same device received its CE marking in 2011. Such factors, along with robust R&D on cardiovascular interventions and increase in demand for bioresorbable drug-eluting stents, are likely to play an important role in the strategic expansion of manufacturers in developed drug-eluting stents markets.
Leading stakeholders in the drug-eluting stents market continue to view developing countries in Asia Pacific from a target market perspective, on the account of increased healthcare expenditure per capita and favorable government initiatives to improve the industry’s infrastructure. However, the emergence of a large number of local players along with government reforms is playing a major role in deciding the prices of stents, which has represented a potential threat to the steady expansion of key players. For instance, price caps initiated by the National Pharmaceutical Pricing Authority (NPPA) in India has led to the withdrawal of DES systems by global manufacturers, while creating a golden opportunity for local players.
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Drug-eluting stents Market: Competition Landscape
Prominent players operating in the global drug-eluting stents market are profiled based on key aspects such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies.
Major companies profiled in the drug-eluting stents market report include
- Biotronik
- Boston Scientific Corporation
- Medtronic
- Abbott
- Biosensors International Group, Ltd ( Bluesail Medical Co., Ltd.)
- MicroPort Scientific Corporation
- Terumo Corporation
- Cook
- STENTYS SA, and Medinol Ltd.
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