New York, Sept. 03, 2019 (GLOBE NEWSWIRE) -- Rise in the public health awareness and increased government funding in medical sector with cardiac treatment centers, supportive regulatory environment for drug eluting products, increasing prevalence of heart diseases are key factors contributing to high CAGR of Drug Eluting Stents during forecast period.
According to the current analysis of Reports and Data, the global drug eluting stent market was valued at USD 5.63 Billion in 2018 and is expected to reach USD 8.74 Billion by year 2026, at a CAGR of 5.67 %. The study covers in-depth analysis of drug eluting stents and its extensive use in the cardiovascular diseases. Drug eluting stents are metal stents that are coated with a pharmacologic agent (drug) that is known to suppress restenosis (the reblocking or closing up of an artery after angioplasty due to excess growth inside or at the edge of the stent). Drug eluting stents are usually preferred over bare metal stents for most people. Drug eluting stents are generally to keep the blockage from recurring compared to bare metal stents. One of the major objectives of drug eluting stents is to limit neointimal hyperplasia. The global drug eluting stent market is propelled by number of factors such as rise in the geriatric population, increasing prevalence of cardiovascular diseases, growing acceptance for minimally invasive endovascular surgeries. However, strict regulatory approval process and lack of skilled professionals are major hindrance for the growth of global drug eluting market during 2019-2026. Conversely, the emerging markets of Asia-Pacific and Latin America are anticipated to provide lucrative growth opportunities to the market players involved in the global drug eluting stent market.
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Further key findings from the report suggest
- Drug eluting stents are coated with medication that is slowly released to prevent the growth of scar tissue in the artery lining. Thus, the artery remains smooth, open, ensuring good blood flow.
- There are three key components to a drug eluting stent – the metal stent structure also called the stent platform which is generally made up of surgical stainless steel or a cobalt chromium alloy; these all contain nickel. The polymer which coats the metal stent: this coating contains the drug and delivers(elutes) it to the arterial wall over a period of time. The drug itself which suppresses the formation of excess tissue, sometimes known as “scar tissue”.
- There are two major types of polymer-based coatings included in the drug eluting stent market such as biodegradable and non-biodegradable polymer. Microporous surface, microstructured surface, slotted tubular surface, and nanoporous surface are types of polymer free coating
- Polymer coating can be conformal, inhibiting smooth cell proliferation over the entire surface of the stent, or abluminal, i.e. the release of the drug only has an effect on the surface in contact with the vessel wall
- On the basis of coating, polymer free coating stents segment in the global drug eluting stent market is anticipated to dominate the global drug eluting stents due to higher drug loading capacity of nanoporous surfaces, quicker drug eluting rate. Inflammatory issues caused by the polymers used in stents can be avoided by eliminating the polymer coating completely and releasing the antiproliferative drug directly from the stent surface
- On the basis of applications, coronary artery disease is expected to be the largest segment in the global drug eluting stents because of rise in the circulation of c reactive proteins, binge drinking and smoking
- Asia Pacific is projected to be the fastest growing segment in the global drug eluting market due to better medical facilities, government funding large population, increasing patient awareness, continuous improvement in healthcare facilities. In India, after the price capping by the central Government, the cost of drug eluting stents has come down to rupees thirty thousand.
- North America is anticipated to have the largest share (42%) in the global drug eluting market due to increasing prevalence of artery diseases, strict regulatory guidelines for medical device manufacturing and approval related to the commercial availability of the products.
- The benefits such as availability of surgery specialists, reduced hospital stay duration, and less charge of surgery have made ambulatory surgical centers the ideal option for the treatment which has made them the major segment among end-users during the forecast period in the global drug eluting stent market.
- Key players in the global drug eluting market include Terumo Corporation, Biosensors, Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, Biotronik SE & Co. KG, MicroPort Scientific Corporation
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Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the Drug Eluting Stent Market on the basis of coating, application, end use, and region:
Drug Eluting Stent Market, by Coating (Revenue, USD Million; 2016–2026)
- Polymer based coating
- Biodegradable
- Non-biodegradable
- Polymer free coating
- Microporous Surface
- Microstructured Surface
- Slotted Tubular Surface
- Nanoporous Surface
Drug Eluting Stent Market, by Application (Revenue, USD Million; 2016–2026)
- Coronary Artery Disease
- Peripheral Artery Disease
Drug Eluting Stent Market, by End Use (Revenue, USD Million; 2016–2026)
- Hospitals
- Cardiology Centers
- Ambulatory Surgical Centers
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Drug Eluting Stent Market, by Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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