Drug eluting stents are small expandable mesh tubes made up of medical-grade stainless steel or cobalt alloy metal that are inserted into the coronary arteries of patients suffering from atherosclerosis. The stent helps to hold the artery open to release a drug that prevents blockage in the artery and improves blood flow in the artery.
Stents are mainly used in procedures such as coronary angioplasty. Drug eluting stents are used in the treatment of coronary artery disease and coronary angioplasty such as percutaneous coronary interventions (PCI) and others. Drug eluting stents comprise three parts which include stent platform, polymer coating (which holds the drug into the stent), and the drug.
The global drug eluting stents market is estimated to be valued at US$ 2,897.2 million in 2022 and is expected to witness a CAGR of 6.6% during the forecast period (2022–2030).
Figure 1. Global Drug Eluting Stents Market Share (%), by Application, 2022
Global Drug Eluting Stents Market – Drivers
Increasing product approvals are expected to drive the global drug eluting stents market growth over the forecast period. Manufacturers of drug eluting stents are focused on gaining regulatory approval to market their products and fulfill the unmet medical needs in cardiac care. For instance, in December 2021, the U.S. Food and Drug Administration (FDA) approved SLENDER IDS fixed-wire and DIRECT RX rapid-exchange drug-eluting stent (DES) systems for the treatment of coronary artery disease by Svelte Medical, a healthcare company. Both the products, SLENDER IDS and DIRECT RX, are highly deliverable drug eluting stent systems which provide long-term clinical outcomes in the coronary artery patient population.
The increasing prevalence of cardiovascular diseases is expected to drive demand for its treatment and surgical intervention, which in turn is expected to fuel the global drug eluting stents market growth. For instance, according to the data published by the National Center for Biotechnology Information in July 2020, ischemic heart disease, also referred to as coronary artery disease (CAD) and atherosclerotic cardiovascular disease (ACD), is a leading cause of premature mortality.
Report Coverage | Details | ||
---|---|---|---|
Base Year: | 2021 | Market Size in 2022: | US$ 2,897.2 Mn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR: | 6.6% | 2030 Value Projection: | US$ 4,844.6 Mn |
Geographies covered: |
|
||
Segments covered: |
|
||
Companies covered: |
Boston Scientific Corporation, Medtronic, Abbott Laboratories, Biosensors International Group, Biotronik, Lepu Medical Technology, Terumo Medical Corporation, Cook Medical, Shandong JW Medical Systems, Stentys, AlviMedica Medical Technologies Inc., Amaranth Medical, Inc., HangZhou HuaAn Biotechnology Co., Ltd, XTENT, Inc., Cardionovum GmbH, Cordis Corporation, and Kyoto Medical Planning Co., Ltd. |
||
Growth Drivers: |
|
||
Restraints & Challenges: |
|
Figure 2. Global Drug Eluting Stents Market Share (%), by Region, 2022
Global Drug Eluting Stents Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
COVID-19 has affected the economy in three main ways: by directly affecting the production and demand for drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the UAE, Egypt, and others faced problems with regard to the transportation of drugs and vaccines from one place to another.
The COVID-19 pandemic also had a significant impact on the global drug eluting stents market, owing to increasing demand of drug eluting stents. For instance, in January 2022, a paper was published by National Center for Biotechnology Information, among the patients of COVID-19 stent thrombosis during the coronavirus pandemic around 35.3% patients underwent placement of new drug-eluting stent.
Global Drug Eluting Stents Market: Key Developments
In February 2020, BIOTRONIK, a medical device company, obtained CE Mark certification for Orsiro mission, a drug eluting stent. The stent shows next-level deliverability for acute performance. The stent is used for improving coronary luminal diameter in patients with coronary artery disease. Safety, efficacy, and clinical performance of Orsiro stent have been investigated in clinical studies with more than 48,500 patients enrolled.
Global Drug Eluting Stents Market: Restraint
Major factors restraining the global drug eluting stents market growth include product recall. For instance, in June 2020, the U.S. FDA sent a recall letter to Abbott, a medical device company, for its product Xience Sierra TM Everolimus Eluting Coronary Stent System, due to incorrect or no expiration date in the compliance chart of the product. Moreover, in April 2021, Boston Scientific, a manufacturing company, initiated a voluntary recall of its VICI VENOUS STENT System and VICI RDS VENOUS STENT System for Potential Stent Migration, product was recalled due to the migration or movement of stent from initial place of implantation and require another surgery to retrieve it, which may have high risk to the patients.
Key Players
Key players operating in the global drug eluting stents market include Boston Scientific Corporation, Medtronic, Abbott Laboratories, Biosensors International Group, Biotronik, Lepu Medical Technology, Terumo Medical Corporation, Cook Medical, Shandong JW Medical Systems, Stentys, AlviMedica Medical Technologies Inc., Amaranth Medical, Inc., HangZhou HuaAn Biotechnology Co., Ltd, XTENT, Inc., Cardionovum GmbH, Cordis Corporation, and Kyoto Medical Planning Co., Ltd.
Stents are usually used in the treatment of coronary angioplasty or percutaneous coronary intervention producers. The types of drug eluting stents include bare metal coronary artery stents, coronary artery restenosis, coronary artery stents, coronary revascularization, and others. Coronary artery stents are small cylindrical device that helps in improving blood flow through arteries to the heart by reducing blockages in the artery. Coronary artery stents are more beneficial for patients suffering from coronary artery diseases such as myocardial infarction.
Market Dynamics
Different Manufacturers like Boston Scientific., Medtronic, and others are focused on developing and launching new products and receiving product approvals from the United States Food and Drug Administration (U.S.FDA). For instance, in April 2019, Shanghai-based medical company MicroPort Medical (Group) Co., Ltd. received the U.S.FDA approval and CE (Conformité Européenne) Mark for ‘Firehawk Liberty’, a new generation rapamycin target eluting coronary stent system.
Furthermore, in May 2022, key players such as Medtronic, a global medical technology company, obtained the U.S. Food and Drug Administration (FDA) approval for Onyx Frontier drug-elution stent (DES), used to treat blockage of the heart arteries. It has enhanced delivering system and increased acute performance which is used to treat patients suffering from coronary artery disease. Onyx Frontier provides 4.50-5.00 mm sizes that can be expanded to 6.00 mm. It is specifically, designed to support extra-large vessels, while it shares the clinical indications as Resolute Onyx, including the most recent approval for patients that are at high risk of bleeding and may benefit from a dual anti-platelet therapy (DAPT) duration.
Moreover, an increase in the awareness of cardiovascular diseases such as heart failure and coronary heart disease cases globally is expected to fuel the global drug eluting stents market growth over the forecast period. For instance, in January 2020, according to the data published by the American Heart Association (AHA), the awareness of coronary artery disease is higher in females (54.4%) than males (45.6%). The mortality rate is also higher in females than in males with myocardial infarction (a dangerous condition caused by a lack of blood flow to the heart muscle).
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients