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Global Drug Eluting Stents Market to 2024 - Market is Expected to Witness a CAGR of 5.4%, to Reach Revenue of $5.61 Billion

Dublin, April 16, 2019 (GLOBE NEWSWIRE) -- The "Global Drug Eluting Stents Market 2018-2024" report has been added to ResearchAndMarkets.com's offering.

The Global Drug-Eluting Stents Market is Expected to Witness a CAGR of 5.4% During the Forecast Period to Reach Revenue of $5,614.6 Million by 2024

Drug-eluting stents refer to the metal stents that have a coating of drugs such as paclitaxel, everolimus, and also antiproliferative drugs to widen the narrowed blood vessel. The first-generation DES has raised safety issues due to a higher incidence of stent thrombosis, which has further given rise to biodegradable DES to provide better treatment. The ability to release an antiproliferative drug that avoids neointimal proliferation, which reduces the incidence of stent restenosis and prevent the need of restenting.

These benefits contributed to the domination of DES in 2016. However, thrombosis, along with vasomotion, is the major issue that needs to be addressed in the DES market. Drug-eluting stents find importance in cardiovascular complications as it is a minimally invasive surgical procedure, broadens the constricted blood vessels, and is useful in prolonging the life of the patient.

Increasing prevalence of cardiovascular diseases, rising aging population, growing acceptance for minimally invasive endovascular surgeries, and good reimbursement facilities are few of the factors driving the growth of the DES market. Increasing healthcare spending, rise in the number of outpatient procedures, and market expansion opportunities in emerging nations are providing an opportunity for the growth of the market. However, alternatives for drug-eluting stents, lack of skilled healthcare professionals, and stringent regulatory approval process are hampering the growth of the market.

Regional Analysis

The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). Europe accounts for the largest share of the drug-eluting stents market, followed by Europe, Asia Pacific, and Rest of the World. More than 60% of the market is occupied by Europe, with Germany being the major contributor to the market growth.

Coating Type Analysis

Based on the type of coating, the market is segmented into polymer-based coating and polymer-free coating drug-eluting stents. Non-biodegradable and biodegradable polymer are the two types of polymer-based coatings. Microporous surface, microstructured surface, slotted tubular surface, and nanoporous surface are the types of polymer-free coating.

Application Analysis

Based on applications, the market is segmented into coronary artery disease and peripheral artery disease. Approximately 90% of all percutaneous interventional surgeries use a coronary stent of all stenting procedures is done with drug-eluting stents (DES). Therefore, the majority of the market is occupied by coronary arterial intervention.

End-users Analysis

The major end-users in the drug eluting stents market are cardiology centers, ambulatory surgery centers (ASCs), and hospitals. The advantages such as availability of surgery specialists, reduced hospital stay duration, and less charge of surgery have made ambulatory surgical centers the most preferred mode for the treatment. This has made them the largest segment among end-users.

Key Players

Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, Biotronik SE & Co. KG, MicroPort Scientific Corporation, Terumo Corporation, Biosensors International Group, Meril Life Science, Stentys SA, Cook Medical Inc., and Lepu Medical Technology. Currently, many manufacturers are outsourcing research to clinical research organizations, which is indirectly boosting the growth of the drug-eluting stents market.

Competitive Analysis

New product development, geographical expansion, collaboration, mergers & acquisitions, and pricing strategies are vital undertakings of players in this space. For instance, in May 2018, MicroPort, a Chinese company, acquired the cardiac rhythm management segment of LivaNova, which has made MicroPort a prominent player in the market. In January 2017, St. Jude Medical, one of the major players in the market, was acquired by Abbott Laboratories for a total of $25 billion. In August 2018, Boston Scientific Corp. signed an agreement to acquire Veniti Inc.

Recently, the prices of coronary stents in India have been slashed by around 70%, making it affordable to lower-income people. As a result, Abbott and Boston are withdrawing their most advanced products Absorb and Synergy & Promous Premier, respectively. This has helped MicroPort to establish its market easily in India with the targeted drug-eluting stents. The technology of MicroPort is proved to be no less than Abbott and other products by market leaders. This is expected to strengthen its market in India.

Benefits

The report provides complete details about the usage and adoption rate of drug-eluting stents in various regions. With that, key stakeholders can know about the major trends, drivers, investments, and vertical player's initiatives. Moreover, the report provides details about the major challenges that are going to impact on the market growth.

Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.

Key Topics Covered:

1 Industry Outlook
1.1 Industry Overview
1.2 Total Addressable Market
1.3 Industry Trends

2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions

3 Market Snapshot
3.1 Market Definition
3.2 Segmented Addressable Market
3.3 Industry Trends
3.4 Related Markets
3.4.1 Cardiovascular Drugs
3.4.1.1 Trends of cardiovascular drugs market
3.4.2 Aortic Aneurysm
3.4.2.1 Trends of Aortic Aneurysm Market
3.4.3 Coronary Stents Market
3.4.4 Cardiovascular Diagnostics

4 Market Outlook
4.1 Reimbursement Scenario
4.2 Market Segmentation
4.3 Porter 5(Five) Forces
4.4 PEST Analysis

5 Market Characteristics
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Increasing prevalence of cardiovascular diseases
5.1.1.2 Increasing Aging Population
5.1.1.3 Growing acceptance for minimally invasive endovascular surgeries
5.1.2 Opportunities
5.1.2.1 Increase in healthcare spending
5.1.2.2 Increase in the number of outpatient procedures
5.1.2.3 Market expansion opportunities in emerging nations
5.1.3 Restraints
5.1.3.1 Stringent regulations for approval process
5.1.3.2 Alternative treatment for the drug eluting stents
5.1.3.3 Lack of skilled healthcare professionals
5.1.3.4 Stringent Regulatory Approval Process
5.2 DRO - Impact Analysis
5.3 Key Stakeholders

6 Types: Market Size and Analysis
6.1 Overview
6.2 Polymer Based Coating
6.3 Polymer free Coating

7 Technology: Market Size and Analysis
7.1 Overview
7.2 Coronary Artery Diseases
7.3 Peripheral Artery Disease

8 End-users: Market Size and Analysis
8.1 Overview
8.2 Hospitals and clinics
8.3 Ambulatory Surgical Center
8.4 Cardiac Centers

9 Regions: Market Size and Analysis

10 Competitive Landscape

11 Vendors Profiles

  • Abbott Laboratories
  • Biosensors International Group
  • Biotronik, Inc
  • Boston Scientific Corp
  • Cook Medical Inc
  • Johnson & Johnson
  • Lepu Medical Technology Co., Ltd
  • Medtronic Plc
  • Meril Life Science
  • MicroPort Scientific Corporation
  • STENTYS S.A.
  • Terumo Corp.

For more information about this report visit https://www.researchandmarkets.com/research/hpx546/global_drug?w=12

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Related Topics: Drug Delivery, Stents

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