Drug Eluting Stent Market Size Worth Around US$ 4,050 Mn 2027: Acumen Research and Consulting

LOS ANGELES, June 2, 2020 /PRNewswire/ -- The global drug eluting stent market size is expected to be worth of around US$ 4,050 Mn by 2027 with 7% of CAGR.

Increasing technological advancement and regulatory approval by major players is the major driver for the growth of the drug eluting stent market. A stringent regulation for product approval is a major factor expected to restraint the growth of the drug eluting stent market.

Acumen Research and Consulting, a global provider of market research studies, in a latest published report titled "Drug Eluting Stent Market (By Drug: Sirolimus, Paclitaxel, Zotaroliums, Everoliums, Bioliums, Others; By Coating Type: Polymer Based Coating, Polymer Free Coatings; By Application: Coronary Artery Diseases, Peripheral Artery Diseases; By End-User: Cardiology Centers, Ambulatory Surgery Centers (ASCs), Hospitals) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027".

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Stents are thin wire valves inserted to hold the arteries intact after a treatment known as angioplastics (PCI). Drug-eluting stents have a silicone film over wire that removes a substance over time such the blockage does not return. Drug-eluting stents are usually favoured by most patients over bare metal stents. The blockage is more likely than plain metal stent to avoid repeated drug-elutting stents. In fact, tests indicate that the new stents are at least as safe as stents made of pure metal.

North America accounts to hold the large market share of global drug eluting stents due to rapidly increasing geriatric population, rising prevalence of the cardiovascular disease, favorable FDA policies, and increasing occurrence of coronary artery cases in the region. According to the American Heart Association (AHA), Peripheral artery disease (PAD) impacts nearly 8.5 million Americans over the age of 40. According to the Centers for Disease Control and Prevention, about 735,000 individuals in the U.S. had cardiovascular problems. Of these, 525,000 were a first heart attack and 210,000 were already encountered in individuals with a heart problem. According to American Heart Association, 2016, high blood pressure (9.8%), heart failure (9.3%), arthral disorders (3.0%), and other chronic conditions (18.7%) are the leading cause for mortality (43.2%) in the U.S., accompanied by a stroke (16.90%). In addition, the expanded availability of specialized surgical services and equipment, the recognition of patients and the high cost of health care would stimulate the growth of the drug-related stents market across the global.

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Market dynamics

The occurrence of atherosclerosis globally is driven by sedentary habits, unhealthy diets or lack of exercise. However, the drastic shift in the diagnosis of atherosclerosis from angioplastic to the drugs eluting stent (DES) has a positive effect on consumer development. Moreover, the minimally invasive DES putting system improves the expansion of the drug eluting stent market. The fall in the price of these products nevertheless threatens the growth of the market. In addition, stent thrombosis and endothelial regeneration disruption represent threats associated with DES. The sustainability of the market during forecast period is likely to be challenged.

Introduction of Fully-bioresorbable Stents

In the process of coronary disease treatment the evolution of drug-elutting stent technology has led to a breakthrough and opened up a new road to heartbeat therapies. In addition to prevent restenosis, ensure protection and enhance the health of patients, it was introduced to create fully bioresorbable stents or scaffolds. Recently, a range of industry players introduced fully bioresorbable stents or stent residue-free scaffolds following drug elution. This allows the heart arteries to be healed quicker and minimizes tissue damage. Reva Medical obtained in April 2017 the CE mark for the Fantom pharmaco-electrobic coronary scaffold, which enabled Reva Medical to gain access to the European pharmaceutical stents market.

The global drug eluting stent market includes prominent players such as Cook Medical, Abbott Laboratories, Cordis Corporation, Boston Scientific Corporation, Xtent, Inc., Medtronic plc, Johnson and Johnson, Stentys, MicroPort Scientific Corporation, Biotronik Inc., Biosensors International Group, and others.

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Adoption of Expansion Strategies by Major Players in Drug-eluting Stents Market

• In February 2019, For prolonged indication such as De Novo chronic complete occlusion (CTO) Medtronic obtained FDA approval for Resolute DES platforms, such as Resolute Onyx and Resolute Integrity DES.
• In August 2018, The Malaysian Medical Device Authority granted Firehawk regulatory approval allowing the firm to gain access to the Malaysia-based stent industry.
• In January 2020, Cook Medical and Bentley announce collaboration
• In November 2019, Boston Scientific reports promising results for the VIVA19 drug-coated balloon RangerTM and Vascular EluviaTM drug-eluting stent.
• In May 2018, CERENOVUS, part of the Johnson & Johnson Medical Devices Companies, receives FDA clearance for next generation stent retriever device used to treat ischemic stroke

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Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. Among the industries served include aerospace and defense, information and communication technology (ICT), semiconductor and electronics, healthcare and pharmaceuticals, chemicals, advanced materials, banking, finance services and insurance (BFSI), and others.

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