Drug Eluting Stents Market to Receive Overwhelming Hike in Revenues by 2026
Drug eluting stents are tubular mesh-like structures of thin wires that are placed inside coronary arteries during percutaneous coronary interventions (PCIs) to help treat acute myocardial infarction, atherosclerosis, angina pectoris, and other coronary disorders. Presently, a wide range of stents are available in the global drug eluting stents market due to technological advancements leading to their incorporation into stenting technologies. Drug eluting stents are made of metal coated with a pharmacologic agent, which is known to suppress restenosis. These stents have proven to be efficient in the treatment of acute myocardial infraction, angina pectoris, multiple vessel disease, and atherosclerosis. Drug eluting stents have eliminated the risk of restenosis, early stent thrombosis, and negative vessel remodeling associated with traditional bare metal stents.
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Aging population and increasing base of patients with coronary artery disease, obesity, and diabetes are the major drivers of the global drug eluting stents market. Moreover, rise in acceptance of these stents as feasible treatment options, surge in the number of patients preferring drug eluting stents over other types of stents, and higher reimbursement coverage are expected to propel the market. Trends in the treatment for coronary artery disease could witness significant change in the near future due to the advent of new devices, development of tests for allergic reactions, and more careful patient selection. Reduction of in-stent restenosis with drug eluting stents compared to bare metal stents and increase in demand for minimally invasive procedures fuel the growth of the drug eluting stents market. Drug eluting stents reduce complications and cost of repeat procedures; hence, these are the safest and preferred choice of surgeons over bare metals stents.
The global drug eluting stents market can be segmented based on generation of drug eluting stent, coating type, end-user, and region. In terms of generation of drug eluting stent, the market can be classified into first generation, second generation, and third generation. Based on coating type, the global drug eluting stents market can be categorized into biocompatible coatings, drug-delivery coatings, and polymer-free coatings/surfaces. In terms of end-user, the drug eluting stents market can be divided into hospitals, ambulatory surgical centers, and cardiac centers.
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The global drug eluting stents market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest market share in terms of revenue in 2017, followed by Europe. According to World Health Organization (WHO) statistics, an estimated 530 million people across the world were obese in 2014. Obesity rates have risen three-fold since 1980, primarily in regions such as North America, Western Europe, the Middle East, and some countries in Eastern Europe and Asia Pacific. Besides obesity and aging population, availability of technologically advanced stents, rise in patient affordability, and increase in awareness and available treatment options are the other factors fueling the growth of the drug eluting stents market in these regions. The drug eluting stents market in Asia Pacific is expected to expand at the highest CAGR due to presence of large population, increase in disposable income, and rise in patient awareness. Moreover, rise in government investment in health care infrastructure is expected to increase the number of patients, as they will be able to avail hospital and clinical facilities at much lower prices.
Key players operating in the global drug eluting stents market include Abbott Laboratories, Inc., Medtronic, Inc., Boston Scientific Corporation, Biotronik SE & Co. KG, B. Braun Melsungen AG, Cook Medical, Cardinal Health, Johnson & Johnson, and Terumo Corporation.
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