Drug Eluting Stents Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024

In the medical sector, a stent is a plastic or metal tube implanted into the lumen of a duct or anatomic vessel to keep the passage of blood vessels unobstructed. Stenting is the process of placement of a stent into the body. Various stents are used for a variety of purposes, from vascular and biliary stents, expandable coronary, relatively simple stents made of plastic, which are used to allow the uninterrupted flow of urine from the kidney to the bladder. A DES or drug-eluting stent is a coronary or peripheral stent or a scaffold that is usually placed into the tapering, diseased coronary or peripheral arteries that release a drug slowly to block cell proliferation. This process of stenting thwarts fibrosis that, along with clots or thrombi, could block the stented coronary artery, a process known as restenosis. Drug-eluting stents are usually placed within the coronary or peripheral artery by an interventional cardiologist or radiologist during an angioplasty process. Drug-eluting stents were approved by the FDA after the scientific trials showed that they were superior to the other metal stents for the management of coronary artery narrowing and they have lower rates of major cardiac events. The principle drug-eluting stents which were approved in the U.S. and Europe were covered with an mTOR inhibitor, or paclitaxel, such as sirolimus.

According to the data released by CDC in 2015, around 610,000 people die of coronary diseases in the U.S. every year, around 25% of the deaths caused by heart diseases. Also, CHD or coronary heart disease was the key disease killing over 370, 000 people per year. The statistics also said that every year around 735,000 people in the U.S. experience a heart attack. Of these 735,000 individuals, 525,000 were first heart attacks and the rest happened in patients who had already suffered from a heart attack. Rise in the number of heart disease along with diseases related to arterial narrowing such as renal artery stenosis will be responsible for a steady growth of the drug-eluting stent market.

Drug Eluting Stents Market Taxonomy

On the basis of type of product, the global market is classified into:

    • Polymer-free coatings
    • Polymer-based coatings

On the basis of application, the global market is classified into:

    • Peripheral Artery Disease
    • Coronary Artery Disease

High prevalence of artery disease along with the rise in geriatric population will drive growth of the overall drug eluting stents market

The rising old age population and the high occurrence of coronary artery diseases are some of the major factors which will propel the drug eluting stents market. Unhealthy dietary habits, sedentary lifestyles, and lack of proper exercise have resulted into the increased incidences of atherosclerosis. The demand for DES is rising significantly as atherosclerosis is extensively treated using DES. Additionally, constant decline in the price due to technological advancements along with increased adoption of DES across the globe is encouraging the acceptance of drug-eluting stent in the management of arterial diseases.

In terms of geography, North America held the maximum share in the global drug eluting stent market. Scientific advancements such as the biodegradable stents have resulted in the dominance of the market in this region. However, Asia Pacific drug eluting stent market is likely to show a significant growth momentum in the near future. Markets in countries such as China and India are expected to record a considerable growth during the forecast period, owing to the increase in patient awareness associated with drug-eluting stents. Existence of large pool of old age population who are susceptible to arterial diseases and the increasing frequency of chronic diseases such as cardiac disorders and diabetes will drive the overall drug eluting stents market.

The drug eluting stents market is highly fragmented, owing to the presence of many well established companies. The rivalry among these vendors is likely to increase with the rise in product diversifications, technological innovations, mergers and acquisitions, and with the introduction next-generation products. Some of the key players operating the global drug eluting stents industry are Biosensors International, Abbot Laboratories, Terumo, Boston Scientific, Medtronic and Lepu Medical. Some of the other important companies in the market are Biotronik, Envison Scientific, Stentys, MicroPosrt Medical, Meril Lifesciences, Shandong JW Medical Systems and Opto Circuits.

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
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  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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