Drug-Eluting Stents Market to Reach $8.77 Bn, Globally, by 2027 at 8.7% CAGR: Allied Market Research

Surge in prevalence of cardiovascular disease and increase in demand for minimally invasive surgical procedures drive the growth of the global drug-eluting stents market

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Allied Market Research

Apr 28, 2021, 09:00 ET

PORTLAND, Ore., April 28, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Drug-Eluting Stents Market by Coating (Polymer-Based Coating and Polymer Free Coating), Application (Coronary Artery Disease and Peripheral Artery Disease), and End User (Hospitals, Ambulatory Surgical Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global drug-eluting stents industry generated $6.38 billion in 2019, and is estimated to generate $8.77 billion by 2027, witnessing a CAGR of 8.7% from 2020 to 2027.

Prime determinants of growth

Surge in prevalence of cardiovascular disease, emergence of advanced drug-eluting stents, and increase in demand for minimally invasive surgical procedures drive the growth of the global drug-eluting stents market. However, strict government regulations for product approvals hinder the market growth. On the other hand, untapped potential in emerging countries presents new opportunities in the coming years.

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Covid-19 Scenario

The production activities of drug-eluting stents halted due to lockdown measures implemented in various countries. In addition, raw material shortage occurred. Owing to supply chain disruptions, distribution activities also affected.
During the pandemic, surgeries during the extreme cases were only carried out. Other surgeries were postponed to focus on the treatment of coronavirus-infected patients. The demand from hospitals also lowered down.
Manufacturing activities and supply chain is expected to get back on track during the post-lockdown. In addition, the demand will increase steadily.

The polymer-free coating segment to maintain its leadership status during the forecast period

Based on coating, the polymer-free coating segment accounted for the largest share in 2019, contributing to nearly three-fourths of the global drug-eluting stents market, and is estimated to maintain its leadership status during the forecast period. In addition, this segment is estimated to portray the fastest CAGR of 9.1% from 2020 to 2027. This is due to technological advancements in polymer-based coating DES, surge in prevalence of cardiovascular diseases, rise in healthcare expenditure, and demand for biodegradable polymer-based coating DES. The research also analyzes the polymer-based coating segment.

The hospitals segment to maintain its lead position during the forecast period

Based on end user, the hospitals segment held the highest market share, accounting for around half of the global drug-eluting stents market in 2019, and will maintain its lead position during the forecast period. Moreover, this segment is expected to manifest the highest CAGR of 9.5% from 2020 to 2027. This is attributed to their effectiveness in the treatment of chronic diseases such as coronary artery disease and peripheral artery disease and its multi-specialty or multi healing efficiently and cost-effectively. The report also analyzes the segment including ambulatory surgical centers and others.

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North America to maintain its dominance in terms of revenue by 2027

Based on region, North America contributed to the largest market share in 2019, accounting for around two-fifths of the global drug-eluting stents market, and will maintain its dominance in terms of revenue by 2027. This is due to rise in a number of cardiovascular disease patients, surge in patient awareness towards minimally invasive surgical treatment, increase in availability of advanced healthcare facilities with trained medical professionals. However, Asia-Pacific is expected to witness the largest CAGR of 10.0% during the forecast period, owing to rise in prevalence of coronary artery and peripheral artery disease, supportive reimbursement policies associated with cardiovascular surgery, and improvement in healthcare facilities.

Leading market players

Abbott Laboratories
Alvimedica
B. Braun Holding GmbH & Co. KG
Biosensors International Group
Biotronik Inc.
Boston Scientific Corporation
Cook Group (Cook Medical)
Medtronic Plc
Stentys SA
Terumo Corporation

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