Drug Eluting Stents Market Size, Share and Forecast upto 2024

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Drug Eluting Stents Market Overview:

In the medical sector, a stent is a plastic or metal tube implanted into the lumen of a duct or anatomic vessel to keep the passage of blood vessels unobstructed. Stenting is the process of placement of a stent into the body. Various stents are used for a variety of purposes, from vascular and biliary stents, expandable coronary, relatively simple stents made of plastic, which are used to allow the uninterrupted flow of urine from the kidney to the bladder. A DES or drug-eluting stent is a coronary or peripheral stent or a scaffold that is usually placed into the tapering, diseased coronary or peripheral arteries that release a drug slowly to block cell proliferation. This process of stenting thwarts fibrosis that, along with clots or thrombi, could block the stented coronary artery, a process known as restenosis. Drug-eluting stents are usually placed within the coronary or peripheral artery by an interventional cardiologist or radiologist during an angioplasty process. Drug-eluting stents were approved by the FDA after the scientific trials showed that they were superior to the other metal stents for the management of coronary artery narrowing and they have lower rates of major cardiac events. The principle drug-eluting stents which were approved in the U.S. and Europe were covered with an mTOR inhibitor, or paclitaxel, such as sirolimus.

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According to the data released by CDC in 2015, around 610,000 people die of coronary diseases in the U.S. every year, around 25% of the deaths caused by heart diseases. Also, CHD or coronary heart disease was the key disease killing over 370, 000 people per year. The statistics also said that every year around 735,000 people in the U.S. experience a heart attack. Of these 735,000 individuals, 525,000 were first heart attacks and the rest happened in patients who had already suffered from a heart attack. Rise in the number of heart disease along with diseases related to arterial narrowing such as renal artery stenosis will be responsible for a steady growth of the drug-eluting stent market.

Drug Eluting Stents Market Taxonomy

On the basis of type of product, the global market is classified into:

On the basis of application, the global market is classified into:

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High prevalence of artery disease along with the rise in geriatric population will drive growth of the overall drug eluting stents market

The rising old age population and the high occurrence of coronary artery diseases are some of the major factors which will propel the drug eluting stents market. Unhealthy dietary habits, sedentary lifestyles, and lack of proper exercise have resulted into the increased incidences of atherosclerosis. The demand for DES is rising significantly as atherosclerosis is extensively treated using DES. Additionally, constant decline in the price due to technological advancements along with increased adoption of DES across the globe is encouraging the acceptance of drug-eluting stent in the management of arterial diseases.

In terms of geography, North America held the maximum share in the global drug eluting stent market. Scientific advancements such as the biodegradable stents have resulted in the dominance of the market in this region. However, Asia Pacific drug eluting stent market is likely to show a significant growth momentum in the near future. Markets in countries such as China and India are expected to record a considerable growth during the forecast period, owing to the increase in patient awareness associated with drug-eluting stents. Existence of large pool of old age population who are susceptible to arterial diseases and the increasing frequency of chronic diseases such as cardiac disorders and diabetes will drive the overall drug eluting stents market.

The drug eluting stents market is highly fragmented, owing to the presence of many well established companies. The rivalry among these vendors is likely to increase with the rise in product diversifications, technological innovations, mergers and acquisitions, and with the introduction next-generation products.

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Some of the key players operating the global drug eluting stents industry are Biosensors International, Abbot Laboratories, Terumo, Boston Scientific, Medtronic and Lepu Medical. Some of the other important companies in the market are Biotronik, Envison Scientific, Stentys, MicroPosrt Medical, Meril Lifesciences, Shandong JW Medical Systems and Opto Circuits.

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