Drug Eluting Stents Market to Surpass US$ 13.82 Bn by 2031

Global Drug Eluting Stents Market is Estimated to Witness High Growth Owing to Increasing Cardiovascular Diseases and Rapid Technological Advancements

The Global Drug Eluting Stents market is estimated to be valued at USD 7.81 Bn in 2024, exhibiting a CAGR of 8.5% over the forecast period (2024-2031). The market is witnessing high growth owing to the increasing prevalence of cardiovascular diseases and growing geriatric population worldwide. Furthermore, rapid technological advancements in stent technology and materials used are augmenting the demand for drug eluting stents.

Market Dynamics:

The growth of the global drug eluting stents market is driven by the increasing incidence of coronary artery diseases and rising healthcare expenditure. One of the major drivers is the growing geriatric population that is more prone to cardiovascular diseases. In June 2021, according to WHO, cardiovascular diseases are the number one cause of death globally, taking an estimated 17.9 million lives each year. The burgeoning geriatric population suffering from various cardiovascular ailments including heart attack, stroke, and heart failure is driving the demand for effective interventional treatments like drug eluting stents. Additionally, rapid technological advancements in newer generation drug eluting stents with advanced coatings and designs for enhanced safety and efficacy are also fueling the market growth.

Increasing Prevalence of Cardiovascular Diseases is Driving Growth in the Drug Eluting Stents Market

The rising prevalence of cardiovascular diseases such as coronary artery diseases, strokes, and heart attacks is one of the major factors fueling the growth of the global drug eluting stents market. According to the World Health Organization, cardiovascular diseases are the number one cause of death globally, accounting for over 17.9 million deaths annually. The growing geriatric population, sedentary lifestyle, obesity, and stress have significantly increased the risk of cardiovascular diseases. Drug eluting stents have become the standard of care for percutaneous coronary intervention procedures due to their lower restenosis rates compared to bare metal stents. As the burden of cardiovascular diseases continues to grow, the demand for drug eluting stents is expected to rise significantly.

Technological Advancements are Enhancing the Efficacy of Drug Eluting Stents

Constant technological innovation is another key driver propelling the drug eluting stents market forward. Manufacturers are focusing on developing stents with better designs, coatings, and drug delivery mechanisms to improve clinical outcomes. Some of the recent advancements include biodegradable polymer-coated stents, ultrasound-guided drug eluting stents, and polymer-free drug eluting stents. Biodegradable polymer coatings allow controlled drug release for only a set period of time without requiring long-term antiplatelet therapy. Polymer-free stents address issues such as polymer-induced inflammation and late stent thrombosis. Such technological upgrades are helping drug eluting stents achieve lower restenosis rates, stimulate better endothelial healing, and reduce side effects, thereby increasing patient acceptance and market demand.

 High Cost of Treatment Acts as a Major Market Restraint

The high cost of drug eluting stents remains a significant restraint inhibiting the growth potential of this market. On an average, drug eluting stents cost two to three times more than bare metal stents. The added expenses are attributed to advanced R&D, new technologies, polymer coatings for controlled drug delivery, stringent regulatory standards, and smaller production volumes. This high price tag makes drug eluting stents unaffordable for many patients, especially in developing nations where healthcare budgets are limited. It also places additional financial burden on public and private insurers. While their increased long-term benefits help offset the higher upfront costs, the price sensitivity still remains a major concern restricting widespread adoption of drug eluting stents.

 Lack of Reimbursements in Developing Markets Hampers Market Expansion

Lack of favorable reimbursement policies for drug eluting stents is another restraint limiting the global market potential. In developing countries where the burden of cardiovascular diseases is rising at an alarming rate, reimbursement programs are inadequate or non-existent. National health insurance schemes in these regions have limited scope and do not cover expensive procedures involving drug eluting stents. This discourages both physicians and patients from opting for drug eluting stents despite their clinical superiority. Even in developed markets, partial reimbursements and long authorization procedures add to treatment costs. To make these life-saving devices universally accessible, concerted efforts are needed from regulatory bodies, healthcare providers, and the medical device industry to develop sustainable reimbursement models.

 Growing Healthcare Expenditure Expands Market Opportunities in Emerging Economies

One of the major opportunities for drug eluting stent providers lies in emerging economies where healthcare spending is steadily increasing. With rapid economic development and rising income levels, nations such as India, China, Brazil, and Mexico are dedicating higher percentages of their GDP to strengthen public healthcare infrastructure and delivery systems. This is allowing greater affordability and accessibility of premium medical technologies. At the same time, the growing and aging population in these regions is translating to a higher incidence of lifestyle diseases including cardiovascular conditions. Along with these demographic and macroeconomic changes, favorable regulations and initiatives towards universal health coverage are helping drive the emerging market demand for drug eluting stents.

 Increasing Popularity of Minimally Invasive Procedures Favors Adoption

The global push for minimally invasive surgeries is another prominent opportunity sparking innovations in the drug eluting stents domain. Compared to traditional cardiac bypass surgery, interventional cardiology techniques using drug eluting stents are less traumatic, involve shorter hospital stays, and enable faster recovery. The proven advantages of these minimally invasive procedures are propelling their popularity worldwide. As more physicians and providers adopt percutaneous coronary intervention protocols, it is augmenting the uptake of premium stents such as drug eluting varieties. Moreover, the market is also witnessing new product extensions like bioabsorbable.

Link: https://www.coherentmarketinsights.com/market-insight/drug-eluting-stents-market-566

Key Developments:

• In May 2024, Abbott, a medical device company, launched the XIENCE Sierra Everolimus Eluting Coronary Stent System in India, the latest addition to the XIENCE family. Designed to treat blocked coronary arteries, it provides enhanced safety for complex cases. This innovation supports percutaneous coronary intervention (PCI), a minimally invasive procedure that restores blood flow by opening blocked arteries and placing stents to keep them open.
• In May 2022, Medtronic plc, a global leader in medical technology, received U.S. FDA approval for the Onyx Frontier drug-eluting stent (DES), the latest addition to the Resolute DES family. Designed to treat coronary artery disease (CAD), the Onyx Frontier stent features an enhanced delivery system to improve performance in complex cases. CAD, a leading cause of death in the U.S., is treated with stents to restore blood flow by keeping clogged arteries open. The Onyx Frontier DES offers interventional cardiologists a reliable and efficient solution for managing challenging coronary cases.
• In October 2021, Boston Scientific Corporation, a biotechnology company, presented positive one-year results for the Eluvia Drug-Eluting Vascular Stent System at the VIVA meeting in Nivada,U.S. The EMINENT trial, involving 775 patients, showed the Eluvia stent’s superiority over bare metal stents (BMS) in treating peripheral artery disease (PAD) with lesions up to 210 mm in the superficial femoral and popliteal arteries. This marked the largest randomized trial of a drug-eluting stent for PAD to date.

Key Players:

Abbott Laboratories, Boston Scientific Corporation, Medtronic, Terumo Corporation, B. Braun Melsungen AG, C. R. Bard Inc., Cook Medical Inc., Biotronik SE & Co. KG, MicroPort Scientific Corporation, St. Jude Medical (now part of Abbott), Johnson & Johnson, Cardiovascular Systems Inc., Gore Medical, InspireMD, Asahi Intecc Co., Ltd., and Z-Medica