The global drug eluting stents market, by Drug (Sirolimus, Paclitaxel, Zotarolimus, Everolimus, Biolimus, and Others), by Coating Type (Polymer-based Coatings and Polymer-free Coatings), by Application (Coronary Artery Disease and Peripheral Artery Disease), by End User (Cardiology Centers, Ambulatory Surgery Centers (ASCs), and Hospitals), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 2,265.8 million in 2018 and is expected to exhibit a CAGR of 6.4% during the forecast period (2020-2027).
Drug eluting stents market is expected to witness significant growth over the forecast period, owing to increasing product approval by regulatory bodies, indicated for the treatment of coronoary artery diseases (CAD) and peripheral artery diseases (PAD), which are expected to boost the global drug eluting stents market growth. For instance, in February 2019, BIOTRONIK, received the U.S. Food and Drug Administration (FDA) pre-marketing approval for ‘Orsiro’ coronary drug-eluting stent (DES) in the U.S. Market.
Moreover, in October 2019, Biotronik received China’s National Medical Products Administration approval for its product ‘Orsiro’ drug-eluting stent in China.
Increase number of stent implantation procedures for treating several cardiac diseases is expected to propel the global drug eluting stent market growth over the forecast period. For instance, in January 2018, Cordis, a cardinal health company, and Medinol (Cordis has signed a distribution agreement with Medinol to sell Medinol coronary stents) announced their first case of stent implantation using the ‘EluNIR’ drug-eluting stent in the U.S.
Increasing product launches by key players in the global drug eluting stent market is expected to increase availability of drug eluting stent used in the treatment of cardiovascular diseases, which is further expected to drive the global drug eluting stent market growth. For instance, in October 2015, Boston Scientific launched ‘Synergy’, a bioabsorbable polymer drug eluting stent system, the stent is designed for faster and sustained healing by eliminating long term polymer exposure.
Browse 34 Market Data Tables, and 27 Figures spread through 180 Pages and in-depth TOC on The Global Drug Eluting Stents Market, by Drug (Sirolimus, Paclitaxel, Zotarolimus, Everolimus, Biolimus, and Others), by Coating Type (Polymer-based Coatings and Polymer-free Coatings), by Application (Coronary Artery Disease and Peripheral Artery Disease), and by End User (Cardiology Centers, Ambulatory Surgery Centers (ASCs), and Hospitals), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027
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Increasing adoption of inorganic strategies such as merger and acquisitions by key players is expected to boost the global drug eluting stents market growth over the forecast period. Key player such as Terumo Corporation are focused on enhancing and expanding their product portfolio and strengthening market position. For instance, in January 2019, Terumo Corporation acquired Essen Technology (Beijing) Co. Ltd., a China-based medical device company. Essen Technology specialized in manufacturing of drug-eluting stents (DES), while Terumo is focused on selling interventional products in China, such as guidewires and balloon catheters. Through this acquisition Terumo Corporation will sell drug-eluting stents in China market.
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