Drug Eluting Stents Market Size, Share, Industry Report 2031
Drug Eluting Stents Market Size, Share, Industry Report 2031
Segments - Drug Eluting Stents Market by Material (Metallic [Stainless steel, Platinum-Chromium, Nitinol, Cobalt-Chromium, and Others] and Polymer), Coating (Polymer-free Coating and Polymer-based Coating), Drug (Everolimus, Sotraolimus, Paclitacel, Sirolimus, and Others), Application (Coronary Artery Disease and Peripheral Artery Disease), End-user (Hospitals, Clinics, Ambulatory Surgical Centers, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-5526
| 4.8 Rating
| 61 Reviews
| 222 Pages
| Format :
Report Description
The global drug eluting stents market size was valued at USD 7.6 billion in 2022 and is likely to reach USD 11.9 billion by 2031, expanding at a CAGR of 6.9% during 2023 – 2031. The rising demand for reliable eluting stents due to the increasing prevalence of cardiovascular diseases is boosting the market.
The rapid surge in the number of artery blockage surgeries worldwide results in a higher demand for drug-eluting stents (DESs). For instance, according to the National Institutes of Health, over 400,000 coronary artery bypass graft surgery (CABG) surgeries are performed each year.
Drug-eluting stents are peripheral or coronary stents placed to maintain and reopen patients’ coronary arteries narrowed due to arteriosclerosis. This stent is coated with medication, which is released into the affected area of the artery. Stents are very small flexible tubes made out of metal mesh or polymer. It helps to prevent the future reoccurrence of blockages in the artery.
Drug-eluting stents are utilized in the treatment of coronary artery disease a medical condition caused by a buildup of plaque within the arteries. This blockage narrowed arteries resulting in chest pain and a high risk of a heart attack. With the deployment of drug-eluting stents, doctors open up the blocked arteries and release medication that helps to keep them open and prevent further narrowing.
The COVID-19 pandemic hampered the global drug-eluting stents market. The lockdown restriction imposed by governments to control the spread of the virus reduced patient visits to hospitals and clinics. Thus, a decline in patient volume reduces the demand for drug-eluting stents. Furthermore, the financial strain on healthcare systems and patients alike has led to a cautious approach in terms of healthcare expenditures, which has further affected the market.
Drug Eluting Stents Market Dynamics
Major Drivers
Increasing occurrences of cardiovascular conditions are expected to drive the market in the coming years. This condition often causes blockage in arteries which leads to restricted blood flow to the heart. However, drug-eluting stents are important for treating these conditions and restoring proper blood flow, resulting in boosting the market.
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For instance, according to the report published by the Centers for Disease Control and Prevention on May 15, 2023, heart diseases are the leading cause of death in the US. One patient dies every 33 seconds in the US due to cardiovascular disease.
Existing Restraints
The repetitive occurrences of product recalls are expected to hinder the market in the coming years. Incorrect information in the compliance chart regarding products raises recall issues. Thus, frequent recalls may restrain the market to a certain limit. For instance, in June 2020, the US FDA sent a recall letter to Abbott for its product Xience Sierra TM Everolimus Eluting Coronary Stent System, owing to the incorrect expiry date of the product.
Emerging Opportunities
Increasing technological advancements and collaborative research activities are likely to create favorable opportunities for the players competing in the market. Innovations in stent design, materials, and drug delivery mechanisms lead to improved performance and enhanced patient outcomes. Furthermore, collaborations between healthcare institutions, academic research centers, and industry players offer opportunities for collaborative research and development in the drug-eluting stents market.
Scope of the Drug Eluting Stents Market Report
The report on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Drug Eluting Stents Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Material (Metallic [Stainless steel, Platinum-Chromium, Nitinol, Cobalt-Chromium, and Others], Polymer), Coating (Polymer-free Coating and Polymer-based Coating), Drug (Everolimus, Sotraolimus, Paclitacel, Sirolimus, and Others), Application (Coronary Artery Disease and Peripheral Artery Disease), and End-user (Hospitals, Clinics, Ambulatory Surgical Centers, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Abbott; Alvimedica; B. Braun Medical Inc.; Biosensors International Group, Ltd; BIOTRONIK SE & Co. KG; Boston Scientific Corporation; Cook Group; Medtronic; Stentys; and Terumo Corporation |
Drug Eluting Stents Market Segment Insights
Material Segment Analysis
On the basis of material, the market is bifurcated into metallic and polymer. The metallic segment is further classified as stainless steel, platinum-chromium, nitinol, cobalt-chromium, and others. The metallic segment is anticipated to register a robust growth rate in the coming years, owing to its high strength, flexibility, and durability.
These properties make it a preferred choice among patients and healthcare providers. Moreover, metallic stents offer precise stent deployment allowing for accurate placement. The precise deployment ensures proper contact of the stent with the artery walls, which improves drug delivery. These all factors contribute to the growth of this segment.
Coating Segment Analysis
Based on coating, the market is divided into polymer-free coating and polymer-based coating. The polymer-free coating segment is estimated to hold a major market share during the forecast period, as it offers a biocompatible surface and decreases the risk related to an adverse reaction to treated arteries. This further enhances the healing and integration of the stents for better patient care.
Drug Segment Analysis
In terms of drug, the drug-eluting stents market is fragmented into everolimus, sotraolimus, paclitacel, sirolimus, and others. The sirolimus segment is expected to expand at a considerable CAGR during the projected period, due to its high preference among patients. Sirolimus helps to reduce the occurrence of blockages in arteries. Furthermore, reliable safety profiles and minimal adverse effects on patients associated with this drug are likely to fuel the segment.
Application Segment Analysis
Based on application, the market is segregated into coronary artery disease and peripheral artery disease. The coronary artery disease segment is anticipated to hold a large market share in the coming years, owing to the rising number of cases of narrowing or blockage of the arteries. It is the main cause of cardiovascular morbidity and mortality. The high prevalence and impact of coronary artery disease boost the demand for effective treatments, which significantly boost the use of drug-eluting stents.
The peripheral artery disease segment is expected to grow at a significant CAGR, due to the growing incidence of peripheral artery disease (PAD) at a rapid pace. Drug-eluting stents improve blood flow, which reduces major adverse events. For instance, according to the National Library of Medicine, more than 200 million people globally are suffering from PAD. The risk of PAD is high in the elderly population.
End-user Segment Analysis
In terms of end-user, the market is classified as hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment is estimated to hold a key share of the market during the forecast period, as they provide overall medical care for patients with cardiovascular diseases. Furthermore, increasing preference for hospitals as primary care for coronary and peripheral artery disease is likely to propel the segment.
The ambulatory surgical centers (ASCs) segment is expected to grow at a significant pace in the coming years, owing to their cost-effectiveness compared to traditional medical settings, including hospitals and clinics. ASCs perform same-day surgery, which further reduces the need for hospitalization and significantly cost. Moreover, the advancements in medical technology ensure the safe and effective performance of drug-eluting stent procedures in ambulatory healthcare service providers.
Regional Outlook
In terms of region, the global drug eluting stents market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market, due to the well-established healthcare infrastructure and easy availability of medical devices with advanced technology. Furthermore, increasing research and development activities in medical devices and technology is likely to create potential opportunities in the market.
The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years, owing to the increasing number of heart-related conditions among people. Urbanization in the region leads to a rapid change in the lifestyle causing a high number of cardiovascular diseases, which further supports the market expansion.
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For instance, according to Stanford MEDICINE, South Asia has the highest occurrence rate of coronary artery diseases. Around 25% of people under ages 40 years old and 50% of people under 50 are having heart attacks.
Segments
The global drug eluting stents market has been segmented on the basis of
Material
- Metallic
- Stainless steel
- Platinum-Chromium
- Nitinol
- Cobalt-Chromium
- Others
- Polymer
Coating
- Polymer-free Coating
- Polymer-based Coating
Drug
- Everolimus
- Sotraolimus
- Paclitacel
- Sirolimus
- Others
Application
- Coronary Artery Disease
- Peripheral Artery Disease
End-User
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global drug eluting stents market are Abbott; Alvimedica; B. Braun Medical Inc.; Biosensors International Group, Ltd; BIOTRONIK SE & Co. KG; Boston Scientific Corporation; Cook Group; Medtronic; Stentys; and Terumo Corporation.
Some of these companies are adopting various strategies such as partnerships, mergers, reduction in production costs, launching new products, and implementing advanced technologies to cater to customers worldwide. For instance,
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On May 13, 2022, Medtronic, a global medical device supplier got FDA approval for its new generation Onyx Frontier, a drug-eluting coronary stent system. This product is designed to provide improved accuracy in complex coronary cases.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Drug Eluting Stents Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Drug Eluting Stents Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Drug Eluting Stents Market - Supply Chain
4.5. Global Drug Eluting Stents Market Forecast
4.5.1. Drug Eluting Stents Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Drug Eluting Stents Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Drug Eluting Stents Market Absolute $ Opportunity
5. Global Drug Eluting Stents Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Drug Eluting Stents Market Size and Volume Forecast by Applications
5.3.1. Coronary Artery Disease
5.3.2. Peripheral Artery Disease
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Drug Eluting Stents Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Drug Eluting Stents Market Size and Volume Forecast by End Users
6.3.1. Hospitals
6.3.2. Clinics
6.3.3. Ambulatory Surgical Centers
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Drug Eluting Stents Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Drug Eluting Stents Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Drug Eluting Stents Demand Share Forecast, 2019-2026
8. North America Drug Eluting Stents Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Drug Eluting Stents Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Drug Eluting Stents Market Size and Volume Forecast by Applications
8.4.1. Coronary Artery Disease
8.4.2. Peripheral Artery Disease
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Drug Eluting Stents Market Size and Volume Forecast by End Users
8.7.1. Hospitals
8.7.2. Clinics
8.7.3. Ambulatory Surgical Centers
8.7.4. Others
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Drug Eluting Stents Demand Share Forecast, 2019-2026
9. Latin America Drug Eluting Stents Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Drug Eluting Stents Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Drug Eluting Stents Market Size and Volume Forecast by Applications
9.4.1. Coronary Artery Disease
9.4.2. Peripheral Artery Disease
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Drug Eluting Stents Market Size and Volume Forecast by End Users
9.7.1. Hospitals
9.7.2. Clinics
9.7.3. Ambulatory Surgical Centers
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Drug Eluting Stents Demand Share Forecast, 2019-2026
10. Europe Drug Eluting Stents Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Drug Eluting Stents Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Drug Eluting Stents Market Size and Volume Forecast by Applications
10.4.1. Coronary Artery Disease
10.4.2. Peripheral Artery Disease
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Drug Eluting Stents Market Size and Volume Forecast by End Users
10.7.1. Hospitals
10.7.2. Clinics
10.7.3. Ambulatory Surgical Centers
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Drug Eluting Stents Demand Share Forecast, 2019-2026
11. Asia Pacific Drug Eluting Stents Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Drug Eluting Stents Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Drug Eluting Stents Market Size and Volume Forecast by Applications
11.4.1. Coronary Artery Disease
11.4.2. Peripheral Artery Disease
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Drug Eluting Stents Market Size and Volume Forecast by End Users
11.7.1. Hospitals
11.7.2. Clinics
11.7.3. Ambulatory Surgical Centers
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Drug Eluting Stents Demand Share Forecast, 2019-2026
12. Middle East & Africa Drug Eluting Stents Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Drug Eluting Stents Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Drug Eluting Stents Market Size and Volume Forecast by Applications
12.4.1. Coronary Artery Disease
12.4.2. Peripheral Artery Disease
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Drug Eluting Stents Market Size and Volume Forecast by End Users
12.7.1. Hospitals
12.7.2. Clinics
12.7.3. Ambulatory Surgical Centers
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Drug Eluting Stents Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Drug Eluting Stents Market: Market Share Analysis
13.2. Drug Eluting Stents Distributors and Customers
13.3. Drug Eluting Stents Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Abbott
13.4.2. Alvimedica
13.4.3. B. Braun Medical Inc.
13.4.4. Biosensors International Group, Ltd
13.4.5. BIOTRONIK SE & Co. KG
13.4.6. Boston Scientific Corporation
13.4.7. Cook Group
13.4.8. Medtronic
13.4.9. Stentys
13.4.10. Terumo Corporation
Methodology
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