Drug eluting stents market to gain rapid traction, with constantly rise in geriatric population is driving the growth of the market as the population is at a high risk of developing arterial diseases
The Global Drug Eluting Stents Market was valued at US$ 2,129.5 million in 2017 and is projected to expand at a CAGR of 6.4% during the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights. Increase in geriatric population in turn is projected to support growth of drug eluting stents market over the forecast period.
Drug eluting stents are small expandable tubes made of wire that are inserted into the coronary arteries of patients with atherosclerosis. Stent helps to hold the artery open to release a drug that prevents blockage occurring in artery and improves the blood flow. This stent placement are generally carried out in the procedure of coronary angioplasty.
The constantly rise in geriatric population drives the growth of the market as the population is at a high risk of developing arterial diseases. In addition unhealthy dietary habits, sedentary lifestyles and lack of exercise are some of the factors resulting in the increased prevalence of artery diseases. As a result he demand for drug eluting stents is escalating as artery diseases is widely treated by using drug eluting stents. However the decrease in price of this device is enhancing the market growth. Hence this factors are expected to challenge the growth of the market in the forecast period.
According to the National Institute on Aging the world’s geriatric population in 2015 was around 8.5% and it may rise around 17% by 2050. Hence the minimally-invasive techniques of DES placing is expected to enhance the growth of drug eluting stent market.
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Increasing number of applications of drug eluting stents for the treatment of artery diseases is expected to drive growth of the drug eluting stents market over the forecast period. According to a report published by the Heart Foundation, in 2105, coronary artery disease caused around 380,000 deaths annually in the U.S. Furthermore, around 720,000 people suffer from heart attacks annually. Around 515,000 of these are a first heart attack cases and 205,000 are reported in people who already had a heart attack. According to World Health Organization (WHO), around 17.7 million people died from cardiovascular diseases (CVDs) in 2015, representing 31% of all deaths, worldwide. Among these deaths, around 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. Furthermore, around 2% of death occurred due to rheumatic heart disease.
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