The Global Drug Eluting Stents Market was valued at US$ 5912.9 million in 2016 and is projected to expand at a CAGR of 4.7% during the forecast period (2017–2025), 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.
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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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The drug eluting stents are used for the treatment of artery diseases as a result this application is expected to maintain its dominance throughout the future near. As per the stats published in 2015 by The Heart Foundation, coronary artery disease causes around 380,000 deaths yearly in the U.S. Furthermore, around 720,000 people suffer from heart attacks each year and among these around 205,000 are cases of heart attack. As per the World Health Organization (WHO) it was estimated around 17.7 million people died from cardiovascular diseases (CVDs) in 2015, representing 31% of all global deaths. Among this deaths, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. Furthermore around 2% of death is occurred due to rheumatic heart disease.
Key takeaways of the market:
- The global drug eluting stents market is expected to expand at a CAGR of 4.7% during the forecast period (2017–2025). Due to rising number of geriatric population and increase in cardiovascular disease cases from around the globe is expected to favor the market of drug eluting stents over the forecast period.
- The North America region in the global drug eluting stents market is expected to show high growth rate followed by Asia Pacific during the forecast period in terms of value
- In terms of product segment, the polymer based coatings type was valued at US$ 5337.4 Mn in 2016 and is expected to reach US$ 8174.3 Mn by 2025 at a CAGR of 4.8%
- The increase in adoption of biodegradable stents is expected to drive the growth of the polymer based coating stents segment.
- In terms of application the coronary artery diseases type was valued at US$ 4117.0 Mn in 2016 and is expected to reach US$ 6334.9 Mn by 2025 at a CAGR of 4.9%
- Drug eluting stents are considered as gold standard for the treatment of coronary artery disease. As a result, this application segment is expected to maintain its dominance in the forecast period.
The major key players of drug eluting stents market are Boston Scientific Corporation, Medtronic, Inc., Abbott Laboratories, Biosensors International Group, Biotronik, Lepu Medical Technology, Terumo Medical Corporation, Cook Medical, Shandong JW Medical Systems, Stentys, Abbott Vascular Inc., AlviMedica Medical Technologies Inc., Amaranth Medical, Inc., HangZhou HuaAn Biotechnology Co.,Ltd, XTENT, Inc., CARDIONOVUM GmbH, Cordis Corporation KYOTO MEDICAL PLANNING Co., Ltd.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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