The global drug eluting stent market is anticipated to reach USD 9.2
billion by 2024, according to a new report by Grand View Research, Inc. The
increasing geriatric population and the high prevalence of artery diseases are
the major factors driving the market growth. Sedentary lifestyles, unhealthy
dietary habits, and lack of exercise are some of the factors resulting in the
increased prevalence of atherosclerosis. As a result, the demand for Drug
Eluting Stents (DES) is escalating as atherosclerosis is widely treated using
DES. In addition, a constant decline in the price coupled with the
reimbursement coverage is spurring the adoption of DES in the treatment of
arterial diseases.
Risks, such as thrombosis and disruption of regrowth of endothelial
tissues associated with DES, are challenging the market growth. In addition,
stringent regulatory approval guidelines are impeding the market growth by
restricting the entry of advanced DES, such as bioabsorbable products, in the
developed countries.
Presently, the DES market is highly fragmented with the presence of many
players competing with each other. The key players in the market are
implementing mergers and acquisitions strategies to strengthen their position
in the market by the expansion of market share and customer base.
In depth research report
on Drug Eluting Stent Market
Further key findings from
the study suggest:
·
The polymer-based coating stent segment was dominating the global market
and is estimated to remain dominant throughout the forecast period. The
increasing adoption of biodegradable stents is mainly driving the growth of the
polymer-based coating stents segment.
·
The biodegradable polymer-based drug eluting stents are anticipated to
have a high demand during the forecast period due to aminimally invasive
technique and lesser risk of late stent thrombosis.
·
The demand for polymer-free drug eluting stents is going to increase
considerably with new products entering the market, especially in emerging
countries such as Brazil, Mexico, and South Africa.
·
China, India, Brazil, and South Africa are anticipated to register a
significant growth in the near future owing to the rising patient awareness
related to DES, presence of the largest pool of geriatric population prone to
arterial diseases, and the surging prevalence of chronic diseases such as
diabetes and cardiac disorders
·
Less stringent regulatory approval procedures in Asia Pacific are
offering the easy entry of the new products into the market.
·
Some key players operating in the market include Boston Scientific
Corporation, Medtronic, Inc., Abbott Laboratories, Biosensors International
Group, Lepu Medical Technology, Biotronik, Stentys, and Terumo Medical Corporation.
·
North America dominated the global market with a share of 40% in 2015.
Technological advancements, such as the introduction of biodegradable stents
primarily, led to the highest revenue generation in the region.
·
In addition, the reimbursement coverage, the presence of a large target
patient population, and a well-defined regulatory framework are a few factors
that are positively affecting the market.
Grand View Research has segmented the drug eluting stent market on the
basis of product, application, and region:
Drug Eluting Stent
Market, by Product, 2013 - 2024 (USD Million)
·
Polymer-based Coatings
·
Polymer-free Coatings
Drug Eluting Stent
Market, by Application, 2013 - 2024 (USD Million)
·
Coronary Artery Disease
·
Peripheral Artery Disease
Drug Eluting Stent, by
Region, 2013 - 2024 (USD Million)
·
North America
·
U.S. Drug Eluting Stents Market, by Product
·
U.S. Drug Eluting Stents Market, by Application
·
Canada Drug Eluting Stents Market, by Product
·
Canada Drug Eluting Stents Market, by Application
·
Europe
·
Germany Drug Eluting Stents Market, by Product
·
Germany Drug Eluting Stents Market, by Application
·
UK Drug Eluting Stents Market, by Product
·
UK Drug Eluting Stents Market, by Application
·
Asia Pacific
·
China Drug Eluting Stents Market, by Product
·
China Drug Eluting Stents Market, by Application
·
Japan Drug Eluting Stents Market, by Product
·
Japan Drug Eluting Stents Market, by Application
·
Latin America
·
Brazil Drug Eluting Stents Market, By Product
·
Brazil Drug Eluting Stents Market, By Application
·
Mexico Drug Eluting Stents Market, By Product
·
Mexico Drug Eluting Stents Market, By Application
·
MEA
·
South Africa Drug Eluting Stents Market, By Product
·
South Africa Drug Eluting Stents Market, By Application
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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