Drug-Eluting Stents Market Share, Size, Industry Growth, Key Players Analysis & Forecast Report 2024-2032
IMARC Group, a leading market research company, has recently released a report titled "Drug-Eluting Stents Market Report by Coating (Polymer Based Coating, Polymer Free Coating), Drug (Sirolimus, Paclitaxel, Zotarolimus, Everolimus, Biolimus, and Others), Stent Platform (Stainless-steel, Cobalt-Chromium, Platinum-Chromium, Nitinol, and Others), Generation (1st Generation, 2nd Generation, 3rd Generation, 4th Generation), Application (Coronary Artery Disease, Peripheral Artery Disease), End User (Hospitals, Ambulatory Surgical Centers, and Others), and Region 2024-2032". The study provides a detailed analysis of the industry, including the drug-eluting stents market share, size, trends and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global drug-eluting stents market size reached US$ 8.3 Billion in 2023. Looking forward, the market is expected to reach US$ 13.7 Billion by 2032, exhibiting a growth rate (CAGR) of 5.51% during 2024-2032.
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Factors Affecting the Growth of the Drug-Eluting Stents Industry:
- Rapid Advancements in Medical Technology:
The rising innovations in stent design, drug delivery mechanisms, and material improvements that enhance the efficacy and safety profiles of drug-eluting stents are fueling the market growth. Moreover, the introduction of modern drug-eluting stents that are crafted from bioresorbable polymers, which gradually dissolve in the body, reducing long-term complications such as late stent thrombosis is favoring the market growth. Additionally, the development of more sophisticated drug coatings, which allow for controlled and sustained release of therapeutic agents to improve patient outcomes by minimizing the risk of restenosis, is enhancing the market growth. Besides this, the burgeoning integration of cutting-edge imaging technologies and advanced manufacturing techniques that facilitate the creation of stents that are more precise in their deployment and placement is driving the market growth.
- Rising Prevalence of Cardiovascular Diseases:
The increasing prevalence of cardiovascular diseases (CVDs) is another major factor propelling the market growth. Cardiovascular diseases, including coronary artery disease (CAD), are among the leading causes of morbidity and mortality across the globe. In line with this, the rising prevalence of factors such as geriatric populations, sedentary lifestyles, unhealthy diets, and heightened incidences of diabetes and hypertension that contribute to the growing burden of CVDs is fostering the market growth. Along with this, the growing demand for effective interventional treatments like percutaneous coronary interventions (PCIs) is enhancing the market growth. Moreover, the proven ability of drug-eluting stents to reduce the occurrence of restenosis and improve long-term patient outcomes of coronary artery disease is contributing to the market growth.
- Implementation of Favorable Reimbursement Policies and Regulatory Approvals:
The imposition of favorable reimbursement policies and regulatory approvals is positively influencing the market growth. In line with this, the introduction of health insurance coverage and reimbursement for stent procedures to increase the accessibility and affordability of these devices for patients is catalyzing the market growth. Additionally, the establishment of stringent approval processes to ensure the safety and efficacy of medical devices, including drug-eluting stents, is fueling the market growth. Apart from this, the continuous efforts of manufacturers to comply with regulatory standards and obtain necessary approvals to facilitate the introduction of innovative stents while enhancing treatment options are stimulating the market growth.
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Drug-Eluting Stents Market Report Segmentation:
By Coating:
- Polymer Based Coating
- Polymer Free Coating
Polymer free coating are preferred due to their lower risk of inflammation and faster endothelial healing.
By Drug:
- Sirolimus
- Paclitaxel
- Zotarolimus
- Everolimus
- Biolimus
- Others
Based on the drug, the market has been divided into sirolimus, paclitaxel, zotarolimus, everolimus, biolimus, and others.
By Stent Platform:
- Stainless-steel
- Cobalt-Chromium
- Platinum-Chromium
- Nitinol
- Others
Cobalt-chromium represented the largest segment as they offer superior strength, flexibility, and biocompatibility.
By Generation:
- 1st Generation
- 2nd Generation
- 3rd Generation
- 4th Generation
On the basis of generation, the market has been divided into 1st generation, 2nd generation, 3rd generation, and 4th generation.
By Application:
- Coronary Artery Disease
- Peripheral Artery Disease
Coronary artery disease accounted for the largest market share due to its high prevalence, necessitating extensive use of drug-eluting stents for effective treatment.
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Others
Hospitals represented the largest segment as they perform the majority of percutaneous coronary interventions.
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
North America's dominance in the drug-eluting stents market is attributed to its advanced healthcare infrastructure, high prevalence of cardiovascular diseases, and robust reimbursement policies.
Global Drug-Eluting Stents Market Trends:
The introduction of personalized medicine as healthcare providers seek to tailor treatments to individual patient profiles, thereby enhancing the effectiveness of drug-eluting stents by aligning drug selection and stent design with specific patient needs, is fuelling the market growth. Along with this, the increasing utilization of artificial intelligence (AI) algorithms to analyze vast amounts of patient data to predict the best stent type and placement, optimizing procedural success rates, is fostering the market growth. Furthermore, the development of new therapeutic agents, including novel anti-proliferative and anti-inflammatory drugs, to reduce restenosis rates and promote quicker endothelialization is contributing to the market growth.
Top Companies Operated in Drug-Eluting Stents Industry:
- Abbott Laboratories
- B. Braun Melsungen AG
- Biosensors International Group Ltd.
- Biotronik
- Boston Scientific Corporation
- Cardinal Health Inc.
- Cook Medical LLC (Cook Group Incorporated)
- Lepu Medical Technology (Beijing) Co. Ltd.
- Medtronic plc
- MicroPort Scientific Corporation
- Sino Medical Sciences Technology Inc.
- Terumo Corporation.
Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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